Tag: buying

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June 2025: Property Market Update

June 2025 Property Market Update

It’s one of the busiest times of the year in the UK housing market, and this time, the news is looking better than many expected. There’s a renewed sense of movement from both buyers and lenders. If you’re thinking of buying, selling, or just keeping tabs on what’s going on, now’s a good time to get clear on the facts.

Positive Momentum, But No Quick Fixes

Activity across the board is up. Rightmove and Zoopla both report a steady rise in supply, demand, and transaction volumes compared to this time last year. Buyers are returning, sellers are feeling more confident, and deals are getting done.

If you’re currently exploring property for sale in Tower Hamlets, it’s a promising time to book viewings and make sure your mortgage options are in place. Stock levels are improving, which means a wider choice of homes and less fierce competition than we’ve seen in previous months.

Mortgage data backs up the trend with more buyers getting approved. The value of new mortgage commitments has also edged up, showing that buyers are willing (and able) to stretch slightly further to secure the right home.

That said, speed is still an issue. Around a quarter of purchases are taking 16 weeks or more to reach exchange. It’s a good reminder that being organised matters. A well-prepared buyer or seller has a much better chance of keeping things on track.

The Rental Market: More Pressure Ahead?

The lettings market continues to face pressure, with demand far outstripping supply. Rents remain high, and landlords are paying close attention to the upcoming Renters Reform Bill, expected to pass later this year. While it’s set to give tenants stronger rights, it may also push more landlords to sell up, which would further tighten the available rental stock.

Still, there are a couple of silver linings. Rent arrears remain below last year’s levels, and tenant demand is showing no signs of cooling. For landlords looking to restructure or exit the market, now might be the time to speak with us, your local estate agent in Tower Hamlets about local demand and pricing strategies.

Interest Rates: Moving in the Right Direction

One of the biggest confidence boosters in the current market is the direction of interest rates. After peaking at 5.25%, the Bank of England base rate has now dropped to 4.25%, and forecasters expect it to fall further in the coming months. There’s even talk of it dipping to 3.5% by the end of the year.

Some lenders have already started adjusting their mortgage rates in anticipation, making it an ideal time for buyers to lock in competitive deals. If you’re browsing property for sale in Tower Hamlets, this shift could give you just the headroom needed to make an offer. Use our mortgage calculator here.

Sell Now or Wait? Both Options Make Sense

There’s no one-size-fits-all answer to the question of timing your sale, but here are some factors to help guide your decision:

Why you might wait:

  • Interest rates are set to fall again, which could boost buyers’ confidence and budgets.
  • You may be able to test a slightly higher asking price as the market strengthens.
  • Buyers aiming to be “in by Christmas” often act quickly in late summer and early autumn.

Why acting now might be better:

  • A temporary inflation spike is forecast for the autumn, which could unsettle buyers.
  • The autumn Budget could create policy uncertainty.
  • A surge in landlord sales (due to legislative changes) may increase local competition.

Whatever your choice, remember that the process itself can take months. Listing your home now doesn’t mean moving next week. It just means getting the wheels in motion and giving yourself options.

Mortgage Market Overhaul: What’s Changing and Why

Mortgage lenders are gradually introducing changes that reflect how buyers’ needs have evolved. While these updates won’t all hit immediately, they signal a more flexible future.

Loan-to-income ratios:
Lenders are becoming more open to lending slightly more to applicants with steady income, even if it’s lower, provided repayments remain affordable.

Stress test adjustments:
Some lenders are easing their ‘worst-case scenario’ interest rate checks, allowing more borrowers to qualify for larger loans.

Longer mortgage terms:
A 30-year term is now common, especially for first-time buyers. It keeps monthly repayments lower, which is often the key to affordability. From next year, rules should make it easier to shorten your mortgage term later without hefty penalties.

Product innovation:
Look out for green mortgages (linked to EPC ratings), home improvement loans, and extended fixed rate offers. A good mortgage broker can match you to the right deal for your situation.

As your local estate agent in Tower Hamlets , ask us to recommend a mortgage broker. We can connect you and make your search for property for sale in Tower Hamlets much smoother. You can also use our mortgage calculator here.

A Market That’s Starting to Move Again

A lot of the restrictions placed on lending were introduced in 2014, when the financial landscape looked very different. With house prices having risen sharply since then and wage growth lagging behind, buyers have been squeezed by outdated lending rules. The current changes aim to correct that and create a more realistic, fairer system for today’s borrowers.

Whether you’re a first-time buyer, looking to move up the ladder, or considering a downsize, this market is finally showing signs of life after a period of uncertainty.

If you’re planning a move soon, now’s the time to get organised. Speak with us – your experienced estate agent in Tower Hamlets, sort your finances, and make sure you’re ready to act when the right property comes up. There’s a sense that confidence is returning, and that’s often when the best deals are done.

What Next?

City Realtor brings you all the latest property market news each month. For more localised property news in Tower Hamlets, please contact the team at City Realtor.

Do you require a valuation or no-obligation advice on buying, selling or renting a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Note: The information in this article is based on data as of May/June 2025 and may change. Always seek professional advice for specific circumstances.

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Home Buyers: A Quick Guide To Understanding the UK Mortgage Market

Home Buyers: A Quick Guide To Understanding the UK Mortgage Market

Welcome to the exciting – and sometimes overwhelming – world of buying a home in the UK.

Whether you’re a first-time buyer or moving up the ladder in Tower Hamlets, understanding how mortgages work will seriously boost your confidence.

This guide from City Realtor breaks down what you really need to know about today’s mortgage market – especially with current interest rates, affordability checks, and government schemes all changing how people buy homes.

8 Things You Need to Know When Speaking to Mortgage Lenders

Let’s take the guesswork out of the mortgage process with these key tips.

1. Mortgage Research Matters More Than Ever

Think of your mortgage like your financial partner for the next two to five (or more) years – you want the right fit.

Main mortgage types:

  • Fixed-rate mortgages: Your payments stay the same for a set period (often 2, 3, or 5 years).
  • Tracker mortgages: These follow the Bank of England base rate, so they rise or fall accordingly.
  • Standard Variable Rate (SVR): This is your lender’s default rate after your initial term ends – usually higher and less predictable.

You can view the current interest rate here, but more buyers are leaning towards short-term fixed deals in the hope that rates will settle or drop in the near future.

2. Understand How Interest Rates Affect You

Interest rates determine how much your monthly mortgage repayments will be.

  • Fixed-rate = Stability: Great if you need predictable payments.
  • Variable = Flexibility (with risk): Payments go up or down depending on wider economic factors.

The Bank of England base rate has held steady recently, but it’s often been a bumpy ride, so it’s wise to speak with a mortgage broker who can compare the latest deals on the market.

3. What Is Loan-to-Value (LTV) — and Why It Matters

Loan-to-Value (LTV) is the percentage of the property price you’re borrowing. For example, a 90% LTV mortgage means you’re putting down a 10% deposit.

  • Lower LTV = Lower Risk for Lenders = Better Rates for You
  • Aim for at least a 15% deposit if possible. Buyers with a 25% deposit can secure noticeably better rates and more product choice.

4. Affordability: It’s Not Just About What You Earn

Lenders look closely at your income, outgoings, and any existing debt. With cost-of-living pressures and high rental prices, some buyers find borrowing limits tighter than expected.

Top tip: Try to clear any debts before applying and avoid taking out new credit in the months before you get a mortgage agreement in principle.

Use our mortgage calculator here

5. Credit Score = Your Mortgage Passport

Your credit history tells lenders whether you’re reliable with money. Missed payments, high credit card balances, or errors on your report can all affect your options.

Check your credit file for free via Experian, Equifax, or TransUnion, and fix any issues before applying.

6. Stamp Duty: Know What You’ll Pay

Stamp Duty kicks in on property purchases above £250,000 (or £425,000 for first-time buyers).

Rates and exemptions change, so use our stamp duty calculator to get a clear idea of what you’ll owe based on the latest thresholds.

7. Hidden Costs: Budget Beyond the Deposit

The deposit for your new home is just the start. Here are some other costs you’ll need to plan for:

Add these up early, so you’re not caught out once your offer is accepted.

8. Help for Buyers

The government has scaled back some of its older schemes (like Help to Buy), but support is still available:

  • Shared Ownership: Buy a share of your home and pay rent on the rest.
  • First Homes Scheme: Aimed at key workers and first-time buyers, offering a discount of up to 30% on selected new builds.

These schemes come with eligibility rules, so speak with a mortgage advisor or broker who knows the ins and outs.

You’ve Got This!

Reading this guide means you’re already ahead of the game. Buying a property in Tower Hamlets is one of life’s biggest milestones, and being mortgage-savvy helps smooth the way.

We Can Help

If you’re getting ready to sell or start your search for a new home in Tower Hamlets, our team at City Realtor is ready to help.

We know the Tower Hamlets property market inside-out – and we’ll be here to support you from valuation to moving day.

Call us on 0207 790 7702 or email admin@cityrealtor.co.uk to get started.

In the meantime, we’ve answered some of your common questions about the UK mortgage market.

FAQs: Understanding the UK Mortgage Market

What’s better – a fixed or variable mortgage?

It depends on your risk tolerance. Fixed gives security, which is attractive when rates are unpredictable. Variable can save money if rates fall – but it’s a gamble.

How much deposit do I need to get a good mortgage deal?

Ideally 15-25% for the best rates. That said, some 5-10% deals are still available, especially under Shared Ownership or First Homes discounts.

What’s the SVR and when does it apply?

After your initial mortgage deal ends, you move onto the lender’s SVR – usually higher and not ideal long term. Consider remortgaging before this happens.

Can I still buy with a small deposit?

Yes, but you’ll have fewer deals to choose from. Use a mortgage broker, check for local or national schemes, and save what you can – every extra £1,000 helps!

What Next?

Do you require a valuation or no-obligation advice on buying or selling a property in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

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May 2025: Property Market Update

May 2025 Property Market Update

May has arrived with a mixed but cautiously optimistic outlook for the UK property market. Following the seasonal spring uplift in activity, trends are starting to reflect both renewed confidence and continued adjustment. House prices are rising – though more slowly – mortgage rates are easing, and the rental market remains stretched.

Here’s what you need to know this month if you’re buying, selling, letting, or renting.

House Prices: Modest Growth as Listings Surge

The average asking price of a home coming to market hit a new high of £379,517 in May, according to Rightmove . However, the pace of growth has eased, with prices up just 0.6% from April, marking the smallest May increase since 2016. A key factor here is supply. The number of properties coming to market is up 12% year-on-year, giving buyers more choice and putting pressure on sellers to be competitive.

Demand for property in Tower Hamlets meanwhile, remains solid, with buyer enquiries 3% higher than this time last year. Some analysts, including those cited in The Times, suggest this year could see national house price growth of 3.5%, buoyed by falling mortgage rates and improving economic stability.

If you’re planning to sell your home in Tower Hamlets, this is still a favourable window – especially with more buyers entering the market – but accurate pricing and strong marketing are more important than ever.

Mortgage Market: Rates Continue to Fall

The Bank of England held its base rate at 4.25% this month following a 0.25% cut in April. That move has helped ease mortgage costs, which had been a major obstacle for buyers throughout 2024. As of mid-May:

  • The average two-year fixed mortgage rate is 4.61%
  • The average five-year fixed rate is 4.59%
  • Some of the lowest available fixed deals are now dipping below 4% for buyers with larger deposits

This marks a clear shift from the 6% plus rates seen last year and is improving affordability across the board. Buyers should still get a mortgage agreement in principle before making offers – particularly in areas where properties are selling quickly.

Sellers: Strong Interest, but More Competition

The traditional spring bounce in the sales market is in full swing. More sellers are listing their homes, and buyers are active again. But with supply at its highest point in over a decade, competition between sellers has also ramped up.

The most successful sellers in this market are the ones who price realistically and ensure their property looks its best online. That means professional photography, tidy kerb appeal, and well-maintained interiors. With many buyers looking to move before the summer holidays, now is an ideal time to list – just make sure your home stands out.

Buyers: More Choice, but Be Ready

With supply improving, buyers now have more choice and, in many cases, a bit more bargaining power. But desirable homes are still being snapped up quickly, especially those priced in line with current local demand.

Preparation is key: get your mortgage sorted, have a solicitor lined up, and be ready to act fast when the right property comes up. Pay attention to factors like EPC ratings and transport links, as these remain top priorities for many homeowners and investors.

Rental Market: Still Tight, but Rent Increases Slowing

The rental sector remains under pressure, but there’s some sign that the breakneck pace of rent growth is finally cooling.

According to the Office for National Statistics , the average UK private rent hit £1,332 per month in April, a 7.7% increase year-on-year. England saw rents rise to £1,386, Wales to £792, and Scotland to £1,001. This is still a significant jump, but down slightly from previous months, suggesting rent inflation may be levelling off.

Tenant demand remains high, and rental stock remains low in many regions, particularly for family homes and pet-friendly properties. If you’re a tenant, it’s worth acting quickly when something suitable comes up – and ensuring your paperwork is ready. You can view our properties to let here.

Landlords: Changing Legislation on the Horizon

The proposed Renters’ Rights Bill continues to make its way through Parliament and, if passed, will bring sweeping reforms to the rental sector. The current draft includes:

  • Abolishing fixed-term assured shorthold tenancies
  • Making all tenancies periodic by default
  • Limiting rent increases to once per year
  • Increasing notice periods for landlords who wish to sell

This legislation will change how landlords manage tenancies and may influence investment decisions for new entrants. Staying on top of compliance will be crucial. Now is a good time to review tenancy agreements and ensure property management processes are up to date. Speak with us about managing your property.

Looking Ahead: A Market Adjusting, Not Retreating

The remainder of spring and early summer is expected to be busy. More listings will continue to bring balance to the market, while lower mortgage rates may encourage more first-time buyers and movers who sat out last year.

We’re not in boom territory, but this is a far more stable environment than we saw throughout much of 2023 and 2024. For sellers, it’s a good time to act – but not a time to overprice. For buyers, it’s a market full of opportunity, but preparation remains key.

Landlords will want to keep an eye on changing legislation and consider how their investments might need to adapt. Meanwhile, tenants should continue to expect high competition and rising rents, albeit at a slightly gentler pace.

If you’d like tailored advice about your next move – whether that’s buying, selling, letting, or renting – get in touch with the friendly team at City Realtor. Call 0207 790 7702 or email admin@cityrealtor.co.uk today.

We have the local market knowledge and property insights for Tower Hamlets to guide you every step of the way.

What Next?

City Realtor brings you all the latest property market news each month. For more localised property news in Tower Hamlets, please contact the team at City Realtor.

Do you require a valuation or no-obligation advice on buying, selling or renting a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Note: The information in this article is based on data as of April/May 2025 and may change. Always seek professional advice for specific circumstances.

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Mental Health Awareness Week 12-18 May 2025: 7 Ways to Look After Your Mental Health When Moving Home

Mental health awareness

City Realtor supports Mental Health Awareness Week: 12–18 May 2025.

Whether you’re a first-time buyer purchasing a property in Tower Hamlets or preparing to sell a home full of memories, moving can stir up a whirlwind of emotions – and affect your mental health.

It’s exciting, yes – but it’s also known to be one of the most stressful life events. That’s why, during Mental Health Awareness Week, we’re considering the emotional side of moving home, and sharing seven practical ways to protect your peace of mind along the way.

1. Keep perspective

When house-hunting or dealing with viewings and negotiations, it’s easy to let small setbacks feel like major failures. Try to zoom out. Remind yourself why you’re moving and what you’re working towards. Things might not always go exactly to plan, but that doesn’t mean progress isn’t happening. Keep a flexible mindset because it makes the bumps easier to handle.

2. Don’t pin everything on ‘the one’

Found your dream property in Tower Hamlets? Great! But don’t stop exploring just yet. Unfortunately, chains break, offers fall through and surveys throw up surprises. Having a Plan B means less stress if your top choice slips away. The same goes for selling – if your first buyer backs out, it doesn’t have to be game over.

3. Lean on people

Whether you’re buying, selling, or doing both, don’t shoulder it all alone. Talk with your estate agent in Tower Hamlets, loop in family or friends, and don’t hesitate to ask professionals to explain things more than once. No question is silly when you’re navigating contracts, conveyancing, or mortgage jargon. If you’re struggling emotionally, tell someone. You don’t have to wait until you’ve reached overwhelm to ask for support.

4. Prepare for twists and turns

Rarely does a move go exactly to script. Paperwork can cause delays. Survey results can surprise you. But none of this means you’ve failed – it’s just part of the process. Breathe through the hiccups. A calm head helps you problem-solve more effectively than panic ever will.

5. Celebrate small wins

Buying or selling a property isn’t just one decision – it’s dozens of small steps. So, when something goes right – your offer’s accepted, a valuation comes back clean, your buyer confirms – celebrate it! These wins keep you motivated and mark real progress on your path to moving day.

6. Get organised early

Disorganisation feeds stress. So, whether it’s viewing schedules, legal documents, or packing boxes, keep it all together. Make checklists, use a digital folder, and stay in touch with your estate agent in Tower Hamlets and your conveyancing solicitor. Tidy plans lead to a tidier mind!

7. Protect your downtime

Don’t let your home move consume you. Watch a film. Go for a walk. Switch off your phone. Mental recharge isn’t optional – it’s how you stay steady through the chaos. During Mental Health Awareness Week, take it as a nudge to be extra kind to yourself.

Moving Mindfully

If you’re buying or selling a property in Tower Hamlets, remember – it’s okay to feel wobbly sometimes. The process isn’t just financial, it’s deeply personal too.

At City Realtor, we understand the pressure that comes with moving home and we are always here to help make things clearer, calmer, and more manageable.

The theme for Mental Health Awareness Week 2025 is “community”, focusing on celebrating the importance of strong social connections and supportive communities for mental health and wellbeing. If things feel too much in any aspect of your life, speak with someone you trust or reach out to a mental health professional. You don’t have to do it all alone.

What Next?

If you’re thinking about buying or selling, our team at City Realtor is here to help. Contact us today on 0207 790 7702 or email admin@cityrealtor.co.uk to arrange a free valuation.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

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Navigating the UK Property Market: Tips for Homebuyers

Navigating the UK Property Market: Tips for Homebuyers

Buying a home is no small thing – it’s emotional, exciting, and sometimes just plain overwhelming. But with a clear head and a solid plan, you can move forward with confidence in the UK property market. Whether you’re a first-time buyer or making your next move, here’s how to prepare, stay focused, and avoid mistakes.

Be Clear on Your Budget Before You Even Start Looking

Before you fall in love with a new home, get your finances in order. That means:

  • Getting a mortgage agreement in principle
  • Understanding your borrowing limits
  • Factoring in costs like stamp duty, legal fees, and surveys

Speak with a mortgage broker early on. They’ll explain your options and what’s realistic. If you’re looking to buy property in Tower Hamlets, this could give you an edge when making an offer.

Research the Market Like a Pro

The UK housing market isn’t one-size-fits-all – it’s hyper-local. What’s happening in one town could be completely different in another. Here’s what to keep an eye on:

  • Price trends in the areas you’re interested in
  • Local school performance, transport links, and green spaces
  • Regeneration plans or large-scale developments nearby
  • Council tax bands and average utility costs

Websites like the ONS, your local authority site, and school checker tools are your friends here. And don’t forget to check the crime stats – not just how things look on a sunny Saturday!

Speak with us about Tower Hamlets – we are your local experts!

Tip: Make a shortlist of your top 3 locations based on lifestyle, not just price.

Think Long-Term – Even If This Isn’t Your “Forever Home”

Ask yourself:

  • Will this property still work if your lifestyle changes?
  • What’s the rental potential if you move and decide to let it?
  • Is the area showing signs of growth or decline?

Being realistic now saves regret later. If you’re buying property for sale in Tower Hamlets, chat with one of our friendly team at City Realtor for all the local insights.

Don’t Guess! Ask for Advice

Whether you’re buying solo or with a partner, it’s smart to get advice from people who’ve been there.

  • Talk with friends and family who’ve recently bought
  • Speak to us! As your local estate agent, we know what’s really going on in the market
  • Use independent sources like Money Saving Expert for up-to-date mortgage tips
  • Don’t skip the legal advice – a good solicitor will keep your purchase on track and uncover potential red flags

Found The One? Act Fast but Don’t Panic

When you find a home you love, chances are others will too. Especially in popular areas where homes for sale in Tower Hamlets move quickly. Be ready to:

  • Make a confident offer (knowing your upper limit)
  • Ask for a second viewing if you’re unsure
  • Get your paperwork moving quickly – your solicitor and mortgage provider should be prepped and ready

We’re Here to Help You Move with Confidence

At City Realtor, we help buyers like you every day – whether you’re a first-timer or trading up. We’ll walk you through your options, show you properties for sale in Tower Hamlets, and answer all the questions you didn’t even know to ask.

Call us on 0207 790 7702 or email admin@cityrealtor.co.uk to chat with us.

In the meantime, we’ve answered some of your common questions about buying a property.

FAQ’s: Homebuying in the UK Property Market

Should I get mortgage pre-approval before viewing homes?

Yes – this shows sellers you’re serious and puts you in a stronger position.

What’s worth checking when researching an area?

Look at school ratings, local transport, future development plans, and crime rates. Ask what the neighbours are like, too!

What professional advice do I need?

Estate agents give local market advice. Mortgage brokers help you choose the right deal. Solicitors handle legal checks. Don’t skip any of them.

What other costs should I plan for?

Budget for a survey, stamp duty, mortgage fees, solicitor costs, removals, and council tax.

What Next?

Do you require a valuation or no-obligation advice on buying or selling a property in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

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April 2025: Property Market Update

April 2025 Property Market Update

April kicked off with some big talking points in the UK property market. While the dust is still settling after a turbulent few years, there are signs of balance returning – though not without some fresh challenges along the way.

Whether you’re buying, selling, letting, or renting, here’s what’s been happening this month and what it could mean for you in Tower Hamlets. At City Realtor, we’re here to keep you informed with practical updates and local insight that matters.

House Prices: Where Do Things Stand?

House prices across the UK have continued a slow but steady upward trend. According to the latest UK House Price Index from the Office for National Statistics, the average UK house price in February 2025 (the most recent confirmed data) is £281,000, showing a 1.8% increase year-on-year.

ONS House Price Index
Rightmove House Price Report – April 2025

Rightmove reports that the average asking price for homes entering the market in early April reached a record high of £377,182, driven by seasonal demand and improved confidence among sellers.

If you’re thinking of selling your home or exploring property for sale in Tower Hamlets, this season offers one of the strongest windows of opportunity in recent years.

Mortgage Rates: Stabilising with Caution

Mortgage rates have settled somewhat following volatility in late 2024. As of early April:

  • The average two-year fixed rate is 4.84%
  • The average five-year fixed rate is 4.72%

These figures are down from the highs of over 6% seen last year and are giving more borrowers room to manoeuvre. Some high street lenders are even offering sub-4% deals for those with larger deposits.

Lenders are still cautious, so if you’re buying property in Tower Hamlets, it’s wise to secure a mortgage agreement in principle early to strengthen your position.

Sellers: A Seasonal Window of Opportunity

Spring traditionally brings a rise in new listings, and 2025 is no exception. Rightmove reports buyer demand is up 5% compared to April 2024, with more homeowners taking advantage of the seasonal surge in interest.

If you’re considering selling your home in Tower Hamlets, pricing it correctly and ensuring it’s market-ready will be vital. Call us to book a valuation on 0207 790 7702.

Top tips for sellers:

Speak to us – your local estate agent in Tower Hamlets – to discuss the best way to market your property this spring.

Buyers: Be Prepared to Move Quickly

Buyers are feeling cautiously optimistic. With wages on the rise and inflation softening, affordability is gradually improving. According to Nationwide, earnings are now outpacing house prices in many areas.

If you’re looking to buy property in Tower Hamlets, here’s how to get ahead:

  • Sort your finances early – A mortgage in principle puts you in a stronger negotiating position.
  • Be ready to move – In-demand homes are still selling fast, especially when priced correctly.
  • Think about long-term value – Energy efficiency, location, and futureproofing are all worth factoring in.

We’ve got a range of properties for sale in Tower Hamlets. View our current listings or speak with one of our team today on 0207 790 7702.

Rental Market: High Demand, Gradual Cooling

The rental sector is still feeling the pressure of high demand, though growth in rents is now stabilising. According to the Office for National Statistics, the average UK rent in March 2025 is now £1,332 per month, a 7.7% rise over the past 12 months.

For landlords in Tower Hamlets, it’s a market full of opportunity – but also one that demands careful management and awareness of legislative updates.

With the Renters’ Rights Bill due to become law later this year, the way tenancies are managed will soon look quite different. Proposed changes include:

  • Abolishing fixed term assured tenancies
  • All tenancies becoming periodic
  • Four-month notice periods for landlords regaining possession to sell
  • Limit of one rent increase per year

If you’re a landlord in Tower Hamlets, City Realtor can help you keep your property compliant and your tenancies running smoothly.

What’s Next for the Property Market?

The rest of spring is expected to bring strong levels of market activity. With the average asking price hitting a new high and demand growing week by week, we could see continued house price growth over the next few months. Nationwide is forecasting a 2–4% increase in 2025 if inflation remains controlled.

Lettings will stay competitive, and legislation will continue to reshape landlord responsibilities. Staying informed, prepared, and adaptable will be the key to success.

Looking for Help?

Whether you’re buying, selling, letting or renting in Tower Hamlets, City Realtor is your local expert. Our team is here to support you through every stage of your property journey.

Call us on 0207 790 7702 or email admin@cityrealtor.co.uk to get started.

We know property better than anyone and are proud to be a trusted estate agent in Tower Hamlets.

What Next?

City Realtor brings you all the latest property market news each month. For more localised property news in Tower Hamlets, please contact the team at City Realtor.

Do you require a valuation or no-obligation advice on buying, selling or renting a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Note: The information in this article is based on data as of March/April 2025 and may change. Always seek professional advice for specific circumstances.

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7 Ways To Save Money When You Move House

7 Ways to Save Money When You Move House

Buying a property in Tower Hamlets will almost certainly be the most significant purchase you’ll ever make; however, your house move needn’t cost the earth.

The average cost of moving home in the UK is around £17,600*, once you factor in stamp duty, legal fees, estate agent fees, removals, and other moving expenses.

That’s a big chunk of money, so finding ways to cut unnecessary costs can really pay off.

At City Realtor, we often speak with clients who need advice to minimise their removal costs, so today, we are bringing you our very best ideas to help you save money when you move house.

* Average cost for illustration only. Costs vary depending on buying/selling price, location and other factors. 

7 Ways To Save Money When You Move House

1. Clear Out The Clutter

There’s no point in paying extra to move items into your new home that you don’t want or need, so it makes sense to clear out any clutter before booking your chosen removal company. With less clutter, you’ll save money on packing boxes, and with less to load up, the number of hours the removal team will be needed for may also be reduced.

If you’re putting items into storage, having fewer boxes will also reduce your expenses as you will need a smaller unit. As a bonus, if you sell your unwanted items before your move, you will have some extra cash to put towards your costs!

2. Choose The Right Removals Team

Comparing prices between different local removal companies is essential. Getting the best deal is important, so you should get multiple quotes from local companies. You should check out their reviews, too, as this will reassure you that you’re choosing trusted professionals to pack and handle your belongings.

3. Book Removal Services Early

The earlier you can book your removals team, the better, especially if you’re planning to move over a bank holiday or during peak seasons. An early booking allows you to budget more efficiently and gives you the best chance of being able to use your preferred company.

4. Check For Discounts

Some removal companies offer discounts for armed forces, key workers, students, or pensioners, so check every company’s website and don’t be afraid to call and ask about possible discounts.

5. Reduce Packing Material Costs

Whenever possible, use second-hand removal boxes or consider renting them from the removal company. You can avoid spending money on bubble wrap and stay eco-friendly by using your soft furnishings, clothing, towels, and blankets to wrap and protect fragile items.

6 . Disassemble Large Items Yourself

You can save money by dismantling large items like beds and other bulky pieces of furniture rather than booking your removal company’s disassembly service to do it for you. If the removal team need to take apart any items that won’t fit through the doors, you’ll need to pay more.

7. Manage Your Time

If you delay your removals team on the day itself, you could be charged more to cover the cost of their time. Good time management is essential. Ensure everything is packed well before your removal team arrives, ensure that it’s easy to access your property and that items like the dishwasher and washing machine have been disconnected. This will ensure you don’t face additional charges due to unexpected hold-ups.

Talk To The Experts

Although moving can be stressful, it needn’t be expensive!

Not on the market yet? If you’re thinking about selling, our team at City Realtor is here to help. Contact us today on 0207 790 7702 or email admin@cityrealtor.co.uk to arrange a free valuation.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here, and we’ve answered some of your common questions about saving money on your house move below.

In the meantime, we’ve answered your common questions about saving money when moving house.

Frequently Asked Questions About Saving Money on Your House Move

How can I reduce the cost of packing materials?

You can save money on packing materials by using second-hand boxes, renting boxes from removal companies, or repurposing household items like blankets and towels.

Can I disassemble furniture myself to save money?

Yes, disassembling furniture yourself can help you save money on removal costs. However, ensure you know how to reassemble it correctly to avoid frustration – and damage.

How can I avoid additional charges from my removal company?

Manage your time effectively to avoid delays and ensure your property is accessible for the removal team. Be prepared with all necessary information and documentation.

What other tips can I follow to save money on my house move?

Declutter your belongings before the move to reduce the amount of items you need to transport. Compare quotes from different removal companies and negotiate for a better price. Consider moving during off-peak seasons or weekdays to potentially get lower rates.

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March 2025: Property Market Update

March 2025 Property Market Update

The UK property market is currently undergoing some noticeable changes, affecting everyone from homeowners and landlords to buyers and tenants.

With interest rates fluctuating, house prices adjusting, and rental demand continuing to grow, staying informed about the latest trends is more important than ever.

Whether you’re looking to move, invest, or understand what’s happening in the property market, knowing where things stand can help you make better decisions.

Over the past year, economic conditions have played a major role in determining house prices and mortgage rates. Many potential buyers are watching interest rates closely, while sellers are deciding whether now is the right time to list their property. At the same time, landlords are facing ongoing legislative changes, and tenants continue to deal with increasing rental costs.

March is often a busy period in the property market, with the arrival of spring encouraging more people to buy and sell. However, as expected by many in the industry, there was no mention of a Stamp Duty deadline extension in the recent spring statement. That means April 1st could come as a costly blow for thousands of home movers and first-time buyers who now face an extra £2,500 in stamp duty charges.

Industry voices, including Rightmove, had been calling on the Chancellor to offer a short extension to help those already mid-purchase complete their transactions without being stung by the extra cost, but this has not materialised.

Understanding these developments and their potential impact can help buyers, sellers, landlords, and tenants plan their next steps with greater confidence .

Market Overview: Trends and Influences

During February, UK house prices experienced a slight decline of 0.1%, bringing the average property value to £298,602. This unexpected dip follows a period of consistent growth.

The Royal Institute of Chartered Surveyors (RICS) reported that February marked the weakest month for the housing market since late 2023. A net balance of 14% of agents and surveyors noted a drop in new buyer enquiries, the lowest since November 2023. Additionally, 13% reported a decrease in agreed sales, with London experiencing a more pronounced downturn.

Mortgage rates have also seen some fluctuations. As of March 1st, the average two-year fixed mortgage rate stands at 4.87%, down from 5.01% at the start of February. The average five-year rate decreased to 4.69% from 4.81% over the same period. However, concerns about rising inflation may influence future rate decisions.

It’s not all bad news though! Some regions continue to show resilience and the recent reduction in the Bank of England’s base rate to 4.5% may lead to more competitive mortgage deals, potentially easing the path for prospective buyers.

Recap:

How have UK house prices changed recently?

UK house prices saw a slight decline of 0.1%, bringing the average property value to £298,602.

What are current mortgage rates?

As of March 1st, the average two-year fixed mortgage rate is 4.87%, and the average five-year rate is 4.69%.

Is now a good time to sell my property?

With the traditional spring surge, it can be a great time to sell. However, setting a realistic price and ensuring your property is well-presented are crucial.

How is the rental market performing?

Rents continue to rise, with private rental prices increasing by 8.7% in the 12 months to January 2025. Tenant demand remains high, making it a strong market for landlords.

March Insights for Homeowners and Sellers

For home owners considering selling their properties, current market conditions present both challenges and opportunities.

Considerations for Buyers

Prospective buyers should navigate the current market with careful planning.

  • Mortgage Preparedness : Securing a mortgage agreement in principle can strengthen your position when making offers, especially as lenders adjust rates in response to economic indicators.
  • Market Research : Stay informed about regional price trends. For instance, while some areas have seen price declines, others have experienced annual growth.
  • Energy Efficiency Matters : With energy prices still a concern, many buyers are prioritising homes with good insulation, modern heating systems, and higher EPC ratings. Choosing a property with energy-efficient features can mean lower bills and improved resale value in the long term.

Rental Market Dynamics

Both tenants and landlords are experiencing changes in the rental sector.

For Tenants

  • Rising Rents : latest figures show that average UK private rents increased by 8.7% in the 12 months to January 2025, slightly down from the 9.0% rise in December 2024.
  • Increased Competition : With a limited supply of rental properties, tenants may face heightened competition and should be prepared to act swiftly when suitable properties become available.

View our latest property for rent in Tower Hamlets here.

For Landlords

  • Regulatory Compliance : Staying updated on legislative changes is crucial.
  • Investment Opportunities : Despite challenges, the rental market continues to offer solid returns, especially in regions with high demand. Evaluating local market conditions can help identify lucrative investment opportunities.

Find out more about our property management services here.

The Future Outlook

The property market’s trajectory will depend on various factors, including economic policies, interest rate decisions, and regional supply and demand dynamics.

  • Interest Rates : The Bank of England’s recent base rate reduction to 4.5% reflects efforts to balance economic growth with inflation control. Future rate decisions will influence borrowing costs and, consequently, property affordability.
  • Government Policies : The recent spring statement addressed housing affordability and the Chancellor, Rachel Reeves’ plans to shake up planning rules and ramp up housebuilding could offer some longer-term relief. However, any real impact is still likely to be years away.
  • Regional Variations : The north-south divide in house price growth is expected to persist, with northern regions potentially outperforming southern counterparts.

Need Expert Guidance?

Navigating the current property market requires informed decision-making. At City Realtor, we offer tailored advice to meet your unique needs. Whether you’re buying, selling, renting, or letting in Tower Hamlets, our team is here to help. Contact us on 0207 790 7702 or email admin@cityrealtor.co.uk to discuss your property needs.

What Next?

City Realtor brings you all the latest property market news each month. For more localised property news in Tower Hamlets, please contact the team at City Realtor.

Do you require a valuation or no-obligation advice on buying, selling or renting a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Note: The information in this article is based on data as of February/March 2025 and may change. Always seek professional advice for specific circumstances.

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Is it Worth Buying a House That Needs Renovating in Tower Hamlets?

Is it Worth Buying a House That Needs Renovating in Tower Hamlets?

If you’re considering purchasing a property in Tower Hamlets, the idea of buying a house that needs renovating might have crossed your mind.

Fixer-uppers often come with a lower price tag, making them appealing to buyers looking to maximise their investment. The prospect of customising a property exactly to your liking and potentially increasing its market value adds to the allure!

However, it’s essential to approach such an investment with a clear understanding of the challenges involved. Renovation projects can be complex, requiring careful planning, a realistic budget, and a significant time commitment.

Without careful planning, a renovation project can quickly spiral out of control, leading to unexpected costs and delays. However, for those who are well-prepared, buying a fixer-upper offers several potential advantages.

The Advantages of Buying a Fixer-Upper

Buying a house that needs renovating can offer several benefits, especially for those willing to invest time and resources into the project. One of the primary advantages is the opportunity to acquire property in a desirable location at a more affordable price. This strategy allows buyers to enter markets that might otherwise be out of reach.

Undertaking renovations enables homeowners to tailor the property to their specific tastes and needs, creating a personalised living space. Financially, well-executed improvements can significantly boost the property’s value, leading to a substantial return on investment when it comes to selling.

Let’s look at the advantages.

1. More Affordable Purchase Price

  • Fixer-uppers are typically priced lower than fully renovated homes.
  • Buyers face less competition, as many prefer move-in-ready properties.
  • A lower purchase price can allow for a larger home or better location.

2. Potential for Higher Returns

  • The property’s value can increase significantly after renovations.
  • Smart improvements can generate a strong return on investment.
  • Customising the property to personal preferences is easier.

Did you know? According to research, a bathroom renovation can add up to 4% to the value of your home, offering a return on investment of approximately 67%.

The Disadvantages of Buying a Fixer-Upper

While the benefits are appealing, buying a house that needs renovating comes with its own set of challenges. Renovation projects often involve unforeseen expenses, extended timelines, and the discovery of hidden issues that weren’t apparent during the initial inspection.

These factors can lead to increased stress and financial strain. Potential buyers must conduct thorough due diligence, including detailed property assessments and consultations with professionals, to ensure they are fully aware of what the renovation will entail.

Let’s look at the disadvantages.

1. Unpredictable Renovation Costs

Underestimating expenses can quickly turn a budget-friendly purchase into a financial strain. It’s recommended to set aside at least 10-20% extra for unforeseen issues.

  • Structural repairs (roofing, foundations, walls) can be costly.
  • Re-plastering, plumbing, and electrical work add unexpected expenses.
  • Flooring, windows, and kitchen remodels increase overall costs.

2. Temporary Living Arrangements

  • The home may not be habitable during major renovations.
  • Alternative housing options like renting or staying with family may be necessary.
  • Paying both a mortgage and rent can be financially challenging.

3. Unexpected Surprises

Renovation costs can escalate due to hidden defects, so a professional survey is essential before purchase.

  • Issues such as asbestos, lead paint, or water damage may not be visible.
  • Outdated plumbing and electrical systems may need full replacement.
  • Structural problems can require expensive repairs.

How to Decide If a Fixer-Upper is Right for You

Deciding whether to invest in a fixer-upper requires a thorough assessment of your personal circumstances, including financial stability, time availability, and risk tolerance.

Consider whether you have access to reliable contractors and whether you’re prepared to handle potential setbacks during the renovation process.

It’s also important to evaluate the local property market in Tower Hamlets to ensure that your investment will yield the desired returns. Engaging with an estate agent in Tower Hamlets can provide valuable insights tailored to your situation.

Think about:

  • Do I have a realistic budget that includes emergency funds?
  • Am I prepared to live in a construction zone or pay for temporary housing?
  • Do I have the time, patience, and knowledge to manage a renovation?
  • Am I comfortable taking on potential hidden costs?
  • Will the final value of the property justify the investment?

If you answer “yes” to most of these, a fixer-upper could be a great choice. If not, a move-in-ready home may be a better option.

Expert Advice from City Realtor

Buying a renovation property in Tower Hamlets can be a rewarding investment, but it’s not without risks. Careful budgeting, thorough research, and professional guidance are essential to making the right decision.

At City Realtor, we specialise in helping buyers find the best properties for sale in Tower Hamlets, whether you’re looking for a fixer-upper or a move-in-ready home.

Call us today on 0207 790 7702 or visit our website to explore available properties.

In the meantime, we’ve answered some of your common questions about buying a fixer-upper.

FAQs About Buying a Fixer-Upper in Tower Hamlets

What are the most important things to check before buying a fixer-upper?

Before purchasing, inspect the property for structural damage, plumbing and electrical issues, roof condition, dampness, and foundation stability. Hiring a professional surveyor can help uncover hidden problems.

How much should I budget for unexpected renovation costs?

It’s recommended to set aside at least 10-20% extra on top of your estimated budget for unexpected expenses such as hidden structural damage and outdated wiring.

Can I get a mortgage for a fixer-upper?

Yes, but financing options may vary. Some lenders offer renovation loans or specialised mortgage products that cover both the purchase price and renovation costs. Check with your lender for options.

Is it cheaper to buy a fixer-upper or a move-in-ready home?

It depends. While fixer-uppers have a lower upfront cost, renovation expenses can add up quickly. A move-in-ready home might be more cost-effective if extensive repairs are needed.

What renovations add the most value to a fixer-upper?

Kitchen and bathroom upgrades, energy-efficient improvements, and kerb appeal enhancements (new windows, doors, and landscaping) typically offer the best return on investment.

How long does it take to renovate a fixer-upper?

The timeline varies depending on the extent of the work. Small cosmetic updates may take a few weeks, while major renovations could take 6-12 months or longer.

What Next?

Do you require a valuation or no-obligation advice on buying or selling a property in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

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February 2025 Property Market Update

February 2025 Property Market Update

Welcome to this month’s property market update. As 2025 gathers pace, here’s a quick look at what’s been happening for buyers, sellers, landlords, and renters. We’ve included some helpful insights and tips to keep you ahead of the game.

Market Overview

The UK property market is holding steady in February 2025. Recent stats show average house prices have risen by around 3% over the past year. Regional differences are creating interesting opportunities – while prime locations continue to thrive, emerging towns and rural areas are catching the attention of buyers seeking a better work-life balance.

Read more about these trends here

Buying: What You Need to Know

If you’re on the hunt for a new home – especially if you’re looking for a property for sale in Tower Hamlets – it could be a good time to lock in a deal. Mortgage rates are relatively stable with the Bank of England Base Rate at 4.5%, and there’s a range of options available, whether you’re a first-time buyer or moving up the ladder.

Tip for Buyers:

Found a property you like? Check out local amenities and transport links before making an offer. Areas with upcoming infrastructure projects could offer hidden future value. Also, consider the potential for renovations that can add long-term value to your home.

Selling: Making the Most of Your Property

If you’re thinking about selling, there’s plenty of good news. The market is still competitive, and homes in sought-after areas are attracting lots of interest. If you’re selling your home in Tower Hamlets, getting the price right is crucial. Properties priced just below the market median tend to sell quicker, as buyers are often drawn to perceived bargains.

Tip for Sellers:

Home staging and a few quick fixes can work wonders. A fresh coat of paint and some modern fixtures can make your property stand out. Well-presented homes are more likely to sell at a higher price.

Lettings and Landlords: Meeting Demand

The rental market is going strong, with steady demand for quality property to rent in Tower Hamlets. Keeping your property in great condition helps reduce vacancies and attract reliable tenants.

Recent surveys show that tenant satisfaction directly impacts rental yields. According to The Royal Institution of Chartered Surveyors (RICS), properties with high tenant satisfaction scores achieved around 5% higher yields than those with lower scores. Well-maintained homes with modern facilities continue to perform best.

Tip for Landlords:

Review your rental agreements regularly and consider incentives for longer leases. Simple upgrades like energy-efficient appliances not only attract eco-conscious tenants but can also help reduce your running costs.

Renting: Finding Your Ideal Home

For renters, there’s a wide selection of properties to let in Tower Hamlets. The market is competitive, but regeneration areas often offer great value, with modern homes and improved transport links.

Tip for Renters:

Stay ahead by registering with us to get early access to new listings. When you find the right property, act quickly to avoid missing out.

Keeping One Eye on the Future

It’s always wise to stay informed about possible policy changes that could affect the property market. With the government focusing on increasing housing supply and improving infrastructure, buyers and sellers should be ready for shifts in the market. Flexibility and staying in the loop are your best tools for success.

What Next?

City Realtor brings you all the latest property market news each month. For more localised property news in Tower Hamlets, please contact the team at City Realtor.

Do you require a valuation or no-obligation advice on buying, selling or renting a home in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

Note: The information in this article is based on data as of January 2025 and may change. Always seek professional advice for specific circumstances.