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Tassi Sales & Lettings
Opening Hours Easter 2024

Good Friday (29^th March)         Open Normal Hours

Easter Saturday (30^th March)   Open Normal Hours *

Easter Sunday (31^st March)     CLOSED

Easter Monday (1^st April)         CLOSED

Tuesday 2^nd April                    Open Normal Hours

Happy Easter from the Tassi Sales & Lettings Team!



(*Shirebrook branch closed Saturday 30th March)

Buyers and sellers, along with their agents, appear to have started the new year with renewed confidence as Rightmove data shows average prices rose by the largest amount since 2020 as of early January.

Rightmove’s latest house price index shows average new seller asking prices rose by 1.3% month-on-month to £359,748 but values remain 0.7% lower than at this time last year.

There has been some tentatively promising activity in the first week of the year, markedly stronger than a year ago, as more prospective buyers and sellers seem to have the confidence to get their 2024 moving plans started early, Rightmove suggests.

The number of new properties coming onto the market for sale is 15% higher than in the same period last year, according to its report.

Buyer demand in the first week of 2024 is also 5% higher than in the same period last year. However, competitive pricing from sellers is still vital, with the number of new properties coming to market outpacing the rise in demand, Rightmove said.

The number of sales agreed is also 20% higher than during the first week of last year.

Since Christmas, Rightmove said it has seen nine of its ten busiest days on record for people getting a mortgage in principle to see what they can afford to borrow.

Tim Bannister, Rightmove’s director of property science, said: “After a stop-start market in 2023, the initial signs suggest a smoother year for movers in 2024. More new sellers are now entering the market, and with more confident pricing.

“While the increased level of buyer activity that we’re also seeing may justify some of this increased pricing confidence from sellers, it’s important that sellers who are keen to find a buyer don’t get carried away with New Year enthusiasm when setting their price expectations. Elevated mortgage rates and the wider cost-of-living squeeze are still limiting buyers’ spending power. Accurate and realistic pricing for their local area is the recipe for success for sellers looking to get moving in 2024, and it’s been proven that over-optimistic pricing makes a move much less likely.”

Meanwhile, Zoopla's latest research reveals that the number of buyers out home hunting has shot up 10% compared with this time last year.

House price falls are starting to slow as sales agreed rise by 17% and the average UK home is worth 18% more than it was in March 2020, the portal said.

The busier market is echoed by comparison website reallymoving.

It said new registrations for home move services, including conveyancing, surveying and removals, were 73% higher in the first week of January 2024 than the same period last year.

Rob Houghton, chief executive of reallymoving,said: “It’s encouraging to see a burst of home mover activity at the start of this year. People will only put their lives on hold for so long, and while the cost of borrowing is still a significant issue, it appears that many of those who held off in 2023 are now making the decision to go ahead, encouraged by the resilience of prices and some downward movement in mortgage rates as lenders compete for business.

“We don’t expect to see a full recovery in transaction volumes this year and prices may dip further before we see a return to sustained growth. But the market has proved to be more resilient than many expected, households are slowly adjusting to higher borrowing costs and with housebuilding volumes still falling far short of the required level, early signs suggest that 2024 could be a better year for the housing market.”

Source:- https://www.estateagenttoday.co.uk/breaking-news/2024/1/asking-prices-rise-as-sellers-start-2024-with-confident-pricing

74% of residential buy to let landlords feel confident about the performance of the property market over the next 12 months, with 27% feeling very confident, according to research from The Mortgage Lender (TML).

Confidence in the future of the property market peaked for those landlords that predominantly owned homes of multiple occupancy at 86%, student accommodation landlords (84%) and portfolio landlords with more than five properties (82%).

When it came to the performance of their own rental properties over the next 12 months, 71% of landlords felt confident, with portfolio landlords (5+ properties) feeling the most confident at 78%.

Those more seasoned landlords who have been renting out properties for over 5 years were more likely to feel confident about their rental property portfolios over the next 12 months compared to those with less experience (73% vs 69%), possibly due to the fact that they have weathered a number of economic cycles.

With BTL playing a critical part in the residential market mix, tenant demand has remained buoyant, helping to keep these confidence levels up. Indeed, 73% of landlords said they’d seen demand from tenants increase over the last six months, with 27% saying it had been a significant increase.

This increased demand and the wider economic market is also impacting rental prices, with 73% of landlords reporting that they have increased their rental prices over the last 12 months, with the average going up by 34% amongst those surveyed.

52% said they had increased rents to keep up with the increase in their own rising costs, while a further 28% were following the lead of other properties in the area where asking rents had increased.

Chris Kirby, Head of Key Accounts & Specialist Distribution at The Mortgage Lender commented: “Given the pivotal role that the BTL industry plays in supporting the residential market and ensuring the maintenance of the much-needed supply of homes, it’s encouraging to see these levels of confidence.

"Despite the fact that many landlords are facing higher operating costs, and additional to the inflationary pressures that are impacting everyone, the continued supply of good quality, well maintained rental properties is a must.

“For landlords who are looking to expand their existing portfolio, or remortgage their properties, it’s important to seek broker advice to ensure they are accessing the best possible opportunities in the coming year.”

Source:- https://www.propertyreporter.co.uk/buy-to-let-landlords-confident-about-the-next-12-months.html

The Tassi Sales & Lettings Team wish you all A Very Merry Christmas & A Happy New Year!

Our opening hours over this festive period are as follows:-

Saturday 23rd December 2023 to Tuesday 26th December 2023 - CLOSED
Wednesday 27th December 2023 - OPEN NORMAL HOURS
Thursday 28th December 2023 - OPEN NORMAL HOURS
Friday 29th December 2023 - OPEN NORMAL HOURS
Saturday 30th December 2023 to Monday 1st January 2024 - CLOSED
Tuesday 2nd January 2024 - OPEN NORMAL HOURS

All of our available properties, for sale and to let, can be found right here on our website!

We look forward to speaking to you soon!

The latest Rental Index from PropTech firm Goodlord has shown that year-on-year rents are up by 7.3 per cent across England compared to November 2022 figures.

The average price per property in November 2022 was £1,087. This compares to today’s figure of £1,166.

When looking at specific regions, the biggest year-on-year change for confirmed November rents is seen in the North West, where prices are up by 11 per cent compared to last November.

The majority of other regions - the East Midlands, North East, South East, South West and West Midlands - have all seen rises of over seven per cent.

Despite the onset of what is traditionally a slower season for lettings, sustained market demand saw rents hold broadly steady in November when compared to October figures. Rents are marginally down (by less than two per cent) compared to October, with average rents for new tenancies at £1,166 across England.

This follows a long-established trend of confirmed rents dipping slightly between October and November - with a month-on-month decrease recorded by the Index for five years in a row (2019-2023).

The East Midlands, South East, and West Midlands saw almost no movement in prices during November; with shifts of less than one per cent.

The biggest change was recorded in Greater London - a region which has seen a reduction in rents between October and November each year since 2019. Last month, Greater London saw a four per cent drop in average rent for new tenancy agreements. This follows an intense period of price escalation in the capital and takes average prices for new tenancies back to their June and July levels.

The average void period lengthened from 18 days to 20 days during November, an 11 per cent increase. This average - 20 days - is the same void period as recorded in November 2022.

Numbers held fairly steady across the majority of regions when compared to October. The South East, however, was the only region to record shorter void periods over the last month - where averages dropped from 18 days to 17.

The most notable changes to void periods were recorded in Greater London (up from 12 days to 16) and the South West (up from 16 days to 26).

The average salary of a renter confirming a new tenancy in November was £36,871, a slight increase of two per cent on October’s figure of £36,135.

The average age of tenants taking out tenancies in November was 34, a slight increase on the 2023-to-date average of 33 years.

Source:- https://www.lettingagenttoday.co.uk/breaking-news/2023/12/rental-demand-staying-high-despite-approach-of-christmas