Your need-to-know news and numbers: December 2024.

Just like that we’re in December. Where has the year gone? As the snow falls and the countdown to New Year is on, take a look at the last news and numbers of 2024, before Santa stops by. Here are some stories from November:

£5 billion (again)

And now we know, from all the speculation. The results from the October budget were digested in November. While capital gains tax on residential properties remains the same, there’s going to be a boost of £5 billion to deliver the Government’s housing plan to create 1.5 million new homes across the country.

First time buyers now know there’s no extension to the current stamp duty, says Acres, with 60% of renters being desperate to see more support for first time buyers and a simpler home buying process. It’s still been a busy autumn though, with a 29% increase in agreed sales according to Rightmove; showing people are on the move in the property market.

£169,000

Why would anyone buy a toilet block? Especially with no working toilets!

A simple answer actually; for the view. That’s the reason given by eventual buyer, Mr Ayres, in this BBC News article, after acquiring the disused unit on Cornwall’s coastal path. Hoping to give the block a second life, Mr Ayres plans to lease the property, bought for £169,000, as a café after giving the building a face-lift.

It just shows there are hidden gems out there, for the right investor.

1/2

Speaking of hidden gems… Nearly half the public are keen to see the rejuvenation of abandoned and derelict homes in their cities, latest analysis from Together reveals, in commentary provided to the Negotiator.

Research, from the article, shows that there’s a total of 1.55 million residential homes standing empty across England and Wales. It poses the question - when are they going to be restored to their former glory? Well, a third of people asked want to see it happen. Developments are something we’ve been hearing a lot about in the property market, with redevelopment increasing as it regenerates communities and promotes growth.

£30.7 million

In 2023, households across the UK generated record sums of energy produced by solar panels. Nearly £30.7m was distributed to homeowners under schemes offering households revenue to sell energy from their rooftop panels back to the grid.

The solar rooftop revolution is taking off, with 63,000 panels being installed in the first half of 2024. The construction industry is jumping on the trend in a bid to make it easier to buy new homes with solar panels already fitted, as well as, adding them onto existing homes, says an article in I news.

300 sq ft

A 26 year old woman revealed to The Sun how she became completely rent and mortgage free, after moving out of her three-bedroom home, and downsizing into a 300 square foot tiny house built in the back garden.

Extreme downsizing has continued to become more popular as homeowners look to cut living costs and take advantage of the sustainability and lifestyle benefits. In fact, the number of ‘tiny homes’ has grown by 19,000 in the last decade.

The article also reveals that the mini move is allowing her to pay off the mortgage on her existing property, as she’s generating additional income by renting out the larger home. So, it’s true - good things can come in small packages.

Follow us on social to be the first to hear about next month’s news and numbers round up – we’re over on LinkedIn, Instagram and X.