As I review the performance of the Fife property market in 2023, it’s evident that despite the challenges, the housing sector in the area has shown remarkable resilience.
At the beginning of the year many commentators suggested house prices would drop like a stone in 2023. The Halifax thought there would be an 8% drop, Savills suggested 10%, and the respected Nomura Bank 15%, yet according to the Land Registry, they ended 0.5% higher. Looking at the Land Registry figures for Fife …
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:
FPTV EP 174: LANDLORD XMAS BREAK: Tips to take some time off and recharge over the holidays
To be a landlord is to be an entrepreneur, and to be an entrepreneur is to never really shut off. But we all need a break sometimes, and if you’ve been juggling work, your rental property, and looking after a family, now is the moment to take a breather. Christmas is the one time of year when the entire country shuts down, which makes it an ideal moment to step back and recharge for the new year from a business and personal perspective.
Average house prices in Scotland increased by 0.2% (provisional estimate) in the 12 months to October 2023. This was down from 0.8% (revised estimate) in the 12 months to September 2023 and was faster than the average UK house price annual inflation of negative 1.2% (provisional estimate) in the 12 months to October 2023.
On a non-seasonally adjusted basis, average house prices in Scotland decreased by 0.5% between September 2023 and October 2023, compared with an increase of 0.1% during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Scotland decreased by 0.3% between September 2023 and October 2023.
Comparing the provisional UK HPI volume estimate for August 2022 with the provisional UK HPI volume estimate for August 2023, the volume of transactions decreased by 11.2% in Scotland and by 16.2% in the UK.
In Scotland, detached houses showed the highest annual percentage change out of all property types, increasing by 2.0% in the 12 months to October 2023 to £350,000. Flats and Maisonettes showed the lowest annual percentage change, which decreased by 1.8% in the 12 months to October 2023 to an average price of £128,000.
The highest annual percentage change was in Clackmannanshire, where average house prices increased by 11.2% in the 12 months to October 2023 to £180,000. The lowest annual percentage change was in West Lothian, where average house prices decreased by 4.5% in the 12 months to October 2023 to £203,000.
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.
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 171) GOING NOWHERE: Is your asking price or estate agent holding up your sale?
If your home has been on the market for a while, something probably needs to change to get your move underway.
Jim Parker and Perrie McIntosh discuss whether this is due to the current property market or whether it is something else that could be preventing your sale.
FIFE PROPERTY MARKET: Which homes are selling the best?
Explore the ever-changing landscape of the Fife property market, where the dynamics of property sales fluctuate across different price ranges.
Are homes in the lower priced market selling faster than those in the upper market in Fife, or is it the other way around?
Dive into our detailed analysis as Jim Parker and Perrie McIntosh uncover the trends shaping Fife’s property scene and find out which segment of the market is truly leading the way.
Watch out for the Wealth Creation Show on Mondays @ 12.30pm live on these channels:
EP 100: The Wealth Creation Show: The 6 Key Regrets of People on Their Deathbeds!
Many people at the end of their life express regrets of how certain aspects of their lives have played out.
Some people long to have expressed how they truly feel for other people or certain things, or some have regrets from shying away from their true dreams and desires.
This is sometimes due to a lack of confidence or fear but maybe it is simply just they ran out of time!
Do you want to live your best life, make the best of the time you have and have no regrets?
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 are on hand to discuss
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.
If your home has been on the market for a while, something probably needs to change to get your move underway.
The latest government figures show the market performing at about 80% of last year, with transactions in September 2023 around 18% down from September 2022.
So, given that buyers are still buying, why are so many homes not selling? Are the owners getting in their own way of moving, or could they be receiving the wrong advice?
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 169) STUCK IN NEUTRAL? Does your home need to be beige to sell for the best price?
“Whatever you have in your rooms, think first of the walls” – wise words indeed from pattern and textile god William Morris (and nobody could call his designs neutral).
Richard Cook and Perrie McIntosh provide hints and tips to help you achieve the best price for your property.
THE FIFE PROPERTY MARKET: The importance of realistic pricing (if you want to sell)
As the Fife property market evolves, the key to unlocking a successful sale lies not just in the bricks and mortar but in the strategy behind the sale. It’s a tale of contrasting realities: more Fife homes on the market bring greater choices for buyers yet present a challenge for sellers aiming to stand out. Fife’s property market is a unique microcosm of supply and demand.
Richard Cook and Perrie McIntosh dive into the full article to explore and discuss the shifts, strategies, and successes in Fife’s dynamic property sphere.
UK House Price Index Scotland and Fife: September 2023
Perrie McIntosh provides a breakdown of the Scottish House Price Index report for September 2023 and gives her thoughts on how this could impact the Fife property market for buyers and sellers.
Watch out for the Wealth Creation Show on Mondays @ 12.30pm live on these channels:
EP 98: The Wealth Creation Show: LIVE From Necker Island
Following on from last week’s episode we will be joining Jim Parker LIVE from Necker Island!
For those of you who don’t know Necker Island belongs to billionaire Richard Branson and is the next part of Jim’s adventure.
We will be catching up with him on location and continue our discussion on Jim’s journey, that has let him to where he is today.
If you have you ever wondered, how could I have it all? Tune in for a live interactive discussion on how to achieve success.
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 are on hand to discuss.
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.
Average house prices in Scotland increased by 2.5% (provisional estimate) in the 12 months to September 2023. This was up from 1.9% (revised estimate) in the 12 months to August 2023 and was faster than the average UK house price annual inflation of negative 0.1% (provisional estimate) in the 12 months to September 2023.
On a non-seasonally adjusted basis, average house prices in Scotland decreased by 0.2% between August 2023 and September 2023, compared with a decrease of 0.7% during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Scotland increased by 0.2% between August 2023 and September 2023.
Comparing the provisional UK HPI volume estimate for July 2022 with the provisional UK HPI volume estimate for July 2023, the volume of transactions decreased by 13.9% in Scotland and by 21.9% in the UK.
In Scotland, detached houses showed the highest annual percentage change out of all property types, increasing by 5.2% in the 12 months to September 2023 to £358,000. Terraced houses showed the lowest annual percentage change, which increased by 0.8% in the 12 months to September 2023 to an average price of £164,000.
The highest annual percentage change was in East Lothian, where average house prices increased by 15.2% in the 12 months to September 2023 to £348,000. The lowest annual percentage change was in North Ayrshire, where average house prices decreased by 4.0% in the 12 months to September 2023 to £127,000.
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.
The UK’s property market landscape has experienced a significant shift over the last couple of years.
In October 2021, there were 424,809 properties for sale in the UK. That now stands at 664,780, a rise of 56.5%. Looking at the number of property sales in the UK in October 2021, 111,229 properties were sold subject to contract (stc). In October 2023, that figure dropped to 88,737 properties sold stc, a reduction of 20.3%.
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:
FPTV (EP 165) AUTUMN KERB APPEAL: Top seasonal tips for dazzling photos and first impressions
Autumn is the season of magic and mayhem for selling your home. Jim Parker and Richard Cook provide hints and tips so that your homes will make a lasting first impression for all the right reasons.
UK House Price Index Scotland and Fife: August 2023
Jim Parker provides a breakdown of the Scottish House Price Index report for August 2023 and gives his thoughts on how this could impact the Fife property market for buyers and sellers.
Watch out for the Wealth Creation Show on Mondays @ 12.30pm live on these channels:
EP 94: The Wealth Creation Show: Finding Your Sense of Purpose in Life
Finding purpose is a process that requires plenty of self-reflection, listening to others, and finding where your passions lie.
Perhaps you are feeling disconnected, discontent and struggling with establishing your true meaning.
Asking yourself why do a need to have a sense of purpose?
Or how do I know when I have found my true purpose?
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 are on hand to discuss
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.
Average house prices in Scotland increased by 1.1% (provisional estimate) in the 12 months to August 2023. This was up from 0.1% (revised estimate) in the 12 months to July 2023 and was faster than the average UK house price annual inflation of 0.2% (provisional estimate) in the 12 months to August 2023.
On a non-seasonally adjusted basis, average house prices in Scotland increased by 1.2% between July 2023 and August 2023, compared with an increase of 0.2% during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Scotland increased by 0.9% between July 2023 and August 2023.
Comparing the provisional UK HPI volume estimate for June 2022 with the provisional UK HPI volume estimate for June 2023, the volume of transactions increased by 8.7% in Scotland and decreased by 3.2% in the UK.
In Scotland, detached houses showed the highest annual percentage change out of all property types, increasing by 2.6% in the 12 months to August 2023 to £349,000. Terraced houses showed the lowest annual percentage change, which remained little changed (0.0%) in the 12 months to August 2023 to an average price of £164,000.
The highest annual percentage change was in East Lothian, where average house prices increased by 15.4% in the 12 months to August 2023 to £337,000. The lowest annual percentage change was in East Ayrshire, where average house prices decreased by 3.0% in the 12 months to August 2023 to £124,000.
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.
