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.
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.
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 145) SUMMER VIEWINGS: Stand Out from The Crowd in The Best Season for Selling in Fife
Summer is upon us, and with it comes the best time of the year to sell your home (and to be an estate agent!). Blue skies, warm temperatures and nature in bloom make photos look brilliant, and homes look their best, while the lighter nights fuel faster decisions with fewer viewings in the dark.
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 139) YOU AND YOUR ESTATE AGENT: Five ways to work together as a top-notch team
Power couples, dynamic duos, dream teams… every goal is easier to reach when you’ve got someone on your side.
Jim Parker and Perrie McIntosh discuss how selling your home is no different, and by working closely with your estate agent, you’re far more likely to sell faster, secure the right buyer, and have a smoother sale.
Watch out for the Wealth Creation Show on Mondays @ 12.30pm live on these channels:
EP68 THE WEALTH CREATION SHOW: Protecting Your Wealth
Growing your wealth while inflation is soaring is a serious challenge. Most investors will feel like they are running just to stand still.
This means that now, perhaps more than ever, it is essential to check what you are paying to invest and cut the cost where you can.
Are you making sure are keeping your costs lean and mean as inflation eats away at your returns.
Luckily, you don’t need to head back to school to understand this as Richard Cook and one of the UK’s most successful property investors, Jim Parker is on hand to discuss the best ways to protect your wealth from a beating.
If you are a private client of ours, including the ongoing support you will also receive an invite for the last Thursday of every month to a private zoom session which will be a deep dive into more detail on portfolio building. If you haven’t received your invite, 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.
The average price of a property in Scotland was £180,287
The annual price change of a property in Scotland was 1.0%
The monthly price change of a property in Scotland was -2.6%
The index figure for Scotland (January 2015 = 100) was 133.6
Average house prices in Scotland increased by 1.0% in the 12 months to February 2023. This remained unchanged from the 12 months to January 2023 and was slower than the average UK house price annual inflation of 5.5% in the 12 months to February 2023. Scotland’s annual house price inflation has generally been slowing since the recent peak of 13.8% in the 12 months to April 2022.
On a non-seasonally adjusted basis, average house prices in Scotland decreased by 2.6% between January 2023 and February 2023, compared with a decrease of 2.5% during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Scotland decreased by 0.3% between January 2023 and February 2023.
Comparing the provisional volume estimate for December 2021 with the provisional volume estimate for December 2022, the volume of transactions decreased by 12.2% in Scotland and increased by 30.5% 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 February 2023 to £325,000. Flats and maisonettes showed the lowest annual percentage change, which decreased by 0.5% in the 12 months to February 2023 to an average price of £123,000.
The highest annual percentage change was in Moray, where average house prices increased by 10.1% in the 12 months to February 2023 to £188,000. The lowest annual percentage change was in City of Aberdeen, where average house prices decreased by 6.6% in the 12 months to February 2023 to £132,000.
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 135) MOVING FOR SCHOOLS: Get the timing right for your home search, sale and children’s new start
Moving home with your family is a momentous time, especially when it involves changing schools. And although it can be challenging for everyone, it can also be an exciting new chapter.
Nonetheless, whether it’s switching from primary to secondary, not liking a current school, or changing location for work or more space, there’s plenty to think about. Jim Parker and guests provide useful guidance on this topic.
Watch out for the Wealth Creation Show on Monday @ 12.30pm live on these channels:
EP64 THE WEALTH CREATION SHOW: Create Wealth in a Challenging Economy
There can be ups and downs in an economy and these affect the earning and investment levels of the nation.
Recession is the economic hardship that reflects the slowdown of the economy, this is risky as businesses collapse and people lose their employment.
So how do you create wealth in a challenging economy?
Luckily, you don’t need to head back to school to understand this as Richard Cook and one of the UK’s most successful property investors, Jim Parker is on hand to take you through why mindset matters, what actually is wealth mindset and also the importance of setting goals, being patient and how to preserve.
If you are a private client of ours, including the ongoing support you will also receive an invite for the last Thursday of every month to a private zoom session which will be a deep dive into more detail on portfolio building. If you haven’t received your invite, 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 1.0% in the 12 months to January2023. This was down from 5.1% in the 12 months to December 2022 and was slower than the average UK house price annual inflation of 6.3% in the 12 months to January2023. Scotland’s annual house price inflation has generally been slowing since the recent peak of 13.8% in the 12 months to April 2022. Scotland’s annual inflation slowed this month because average Scotland house prices fell in January 2023, but rose in the same period a year ago.
On a non-seasonally adjusted basis, average house prices in Scotland decreased by0.5% between December 2022 and January 2023, compared with an increase of3.4% during the same period 12 months ago. On a seasonally adjusted basis, average house prices in Scotland decreased by 1.3% between December 2022 and January 2023.
Comparing the provisional volume estimate for November 2021 with the provisional volume estimate for November 2022, the volume of transactions decreased by 6.2% in Scotland and increased by 45.8% in the UK.
In Scotland, detached houses showed the largest annual percentage change out of all property types, increasing by 3.1% in the 12 months to January 2023 to £341,000. Flats and maisonettes showed the lowest annual percentage change, which decreased by 1.8% in the 12 months to January 2023 to an average price of £124,000.
The highest annual percentage change was in Clackmannanshire, where average house prices increased by 12.4% in the 12 months to January 2023 to £172,000. The lowest annual percentage change was in City of Aberdeen, where average house prices decreased by 4.4% in the 12 months to January 2023 to £137,000.
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.
