Latest Property News From Truuli
First-time buyers make a comeback
The number of first-time buyers entering the property market increased by 19% in 2024 compared to 2023, reaching 341,068. Although this remains below the 2022 peak of 369,870, it marks a significant recovery following the decline in 2023. This resurgence is likely linked to improved mortgage affordability, as interest rates have stabilised, offering greater financial certainty to prospective buyers. First-time buyers accounted for 54% of all mortgaged home purchases, demonstrating
Renters are putting down roots
Renter behaviors are shifting significantly, with renting no longer seen solely as a temporary phase before homeownership but increasingly becoming a long-term lifestyle choice. As tenants establish deeper connections with their rental properties, landlords are adapting to meet these evolving expectations. A substantial 73% of landlords are open to renters personalizing their homes, reflecting a growing flexibility in property management. Additionally, 34% of landlords collaborate with renters to approve decoration
Good news on mortgage rates
The mortgage market has seen a positive development as increased competition among lenders has led to interest rates dipping below 4% for certain mortgage deals with a 60% loan-to-value (LTV) ratio. The chart illustrates the trend in fixed mortgage rates over the past year, comparing 5-year and 2-year fixed rates. While rates have fluctuated, the latest data from February 2025 indicates that some mortgage providers have introduced rates under the
When homes have a hold on us
The process of buying a home is often compared to falling in love, as both experiences involve emotional highs and lows. According to data from the English Housing Survey 2023–2024, homeowners’ length of stay in one place varies significantly based on their mortgage status. Mortgage-free owner-occupiers remain in their homes for an average of 23.8 years, demonstrating long-term stability and attachment to their property. In contrast, owner-occupiers with a mortgage
Truuli expects the market to “Spring” into action
As March arrives, longer days and brighter skies draw more home buyers out to hunt for their dream property. Spring sees a surge in home sales, with 27.1% of transactions occurring during this season – the busiest of the year. Selling benefits in spring: Preparing your home for a spring sale: Ready to sell or buy? Contact us at 0330 043 0002 Leigh Thomas – Truuli Property Expert
Rising Trend: Over 50s Stepping into Homeownership as First Time Buyers
The number of first-time buyers (FTBs) above the age of 50 has surged by over 30% in the last five years, while the proportion of those aged 30 and under is on the decline. With affordability becoming a challenge, more people are waiting until they are over 50 to purchase their first home. Interestingly, although London currently has the lowest percentage of first-time buyers above the age of 50, it
