Weekly round up on what’s driving the Fife Property market including a look at recent listings, sales and coming soon:
Article, Podcast and TV Shows written and produced this week are:
FP TV (EP 152) TOO MANY TENANTS: How do you pick the best of the best for your rental property?
It sounds like a landlord’s dream come true: a shortage of rental homes, multiple tenants competing for each one, and rents going through the roof. It’s the same story for almost every property to rent, but the flood of enquiries can be overwhelming. So how do you avoid getting bogged down in a sea of viewings and admin? Lettings Director Richard Cook and Jim Parker provide an insight into how this process works.
(Watch/read/listen) https://www.fifeproperties.co.uk/blog/fp-tv-ep-150-too-many-tenants-how-do-you-pick-the-best-of-the-best-for-your-rental-property/
The Rise of Bungalows in the Fife Property Market
Discover the rising trend of bungalows in the Fife property market! As the pandemic reshaped housing preferences, downsizing has become increasingly popular among Fife retirees and budget-conscious families alike. Uncover the allure of these charming and practical single-storey homes, boasting generous gardens and easy accessibility.
Jim Parker provides the facts and figures around supply and ownership of the sought-after bungalow.
(Watch/Read/Listen) https://www.fifeproperties.co.uk/blog/the-rise-of-bungalows-in-the-fife-property-market/
UK House Price Index Scotland: May 2023
Economic statement
Average house prices in Scotland increased by 3.2% in the 12 months to May 2023. This was up from 1.8% the 12 months to April 2023 and was faster than the average UK house price annual inflation of 1.9% in the 12 months to May 2023.
On a non-seasonally adjusted basis, average house prices in Scotland increased by 3.0% between April 2023 and May 2023, compared with an increase of 1.6% during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Scotland increased by 2.2% between April 2023 and May 2023.
Comparing the provisional UK HPI volume estimate for March 2022 with the provisional UK HPI volume estimate for March 2023, the volume of transactions decreased by 0.6% in Scotland and by 9.6% in the UK.
In Scotland, detached houses showed the highest annual percentage change out of all property types, increasing by 4.1% in the 12 months to May 2023 to £345,000. Semi-detached houses showed the lowest annual percentage change, which increased by 1.9% in the 12 months to May 2023 to an average price of £202,000.
The highest annual percentage change was in East Lothian, where average house prices increased by 16.1% in the 12 months to May 2023 to £339,000. The lowest annual percentage change was in West Dunbartonshire, where average house prices decreased by 4.0% in the 12 months to May 2023 to £130,000.
As with other indicators in the housing market, which typically fluctuate from month to month, it is important not to put too much weight on one month’s set of house price data.
(Watch/Listen) https://www.fifeproperties.co.uk/blog/uk-house-price-index-scotland-and-fife-may-2023/
Watch out for the Wealth Creation Show on Mondays @ 12.30pm live on these channels:
EP 81 THE WEALTH CREATION SHOW: Are Distractions Losing You Money?
Success in business does not comes easily and you will inevitably be faced with challenges along the way.
Often, we allow distractions to invade our lives and the key to moving forward is being able to spot some of the most common distractions and eliminate them before they infiltrate any further.
Are you a ‘yes’ man? Don’t be.
Do you listen to too many people? Don’t do that, either!
Luckily, you don’t need to head back to school to understand this as Lettings Director, Richard Cook and one of the UK’s most successful property investors, Jim Parker is on hand to discuss
(Watch/listen) https://www.fifeproperties.co.uk/blog/the-wealth-creation-show-are-distractions-losing-you-money/
If you’ve missed the previous shows you can catch up on our play list: https://www.youtube.com/playlist?list=PLu-dtDBNhbLJvH_47QHVWEQSB0w2_KGj9
If you are a private client of ours, including the ongoing support you can also receive one to one mentoring on portfolio building. Please contact us to richard.cook@fifeproperties.co.uk
This is all about accelerating your wealth in 2023.
*We must point out that we are not financial advisors, and this is only our opinion of what we would do. Investments can go down as well as up so if you do want professional advice from a qualified advisor, please contact us direct and we will put you in touch with someone.
