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

As we wrap up for bonfires and fireworks this November, let’s whizz through some of the headlines from October’s property news and see if it sparks your interest as much as it did ours.

17

That’s how many expert opinions are in our new 73 page digital report, which asks the question ‘Is this the road to residential revival?’.

An unrivalled look at the present, and future, of the market; with market insight and commentary from nine residential market experts and eight Together spokespeople, you’ll be well-informed of the upcoming trends and the roadmap to revival. From first time buyers to remortgaging, read about the first shoots of economic recovery and a renewed sense of optimism.

£5 billion

It wouldn’t be an October news wrap up without mentioning the Budget, would it? With Chancellor Rachel Reeves announcing £5 billion worth of investment in the housing sector, £500 million has been set aside specifically to build more social homes.

However, changes to the Right to Buy scheme could make homeownership even less affordable for many council tenants. In comments picked up by various outlets, including Property Reporter and Mortgage Strategy, Together’s Chief Commercial Officer Ryan Etchell’s said that, “The Chancellor’s reduction in the discount allowing tenants to buy their council homes under the Right to Buy scheme will mean they will have to pay, in most cases, tens of thousands of pounds more to be able to get on the housing ladder".

2025

It’s that time of year again! As the weather gets colder, we can’t help but wonder what the hottest trends for the upcoming year will be. CityAm have grabbed their crystal ball to make some early predictions about the emerging and developing trends in the ever-evolving property market. And it looks like we all want to be greener and healthier next year, with homeowners, sellers and buyers pleading for sustainable tech, and spaces for mental and physical well-being.

40%

Affordability and accessibility are both words we’ve all heard before when it comes to the housing market, and Zoopla’s latest findings expose that 40% of full time workers in Britain are unable to afford the averaged priced two or three bed home.

But, things could be changing (for the better). The Government are shifting their focus to building smaller one and two bedroom homes for purchase, tackling affordability, supporting the creation of a market that increases the supply of rented homes and making long-term fixed rate loans easier to access when deciding on your move because, when it comes to home building, the more the merrier.

1/3

Could confidence be catching in the housing market? According to data from property platform Rightmove, the number of homes sold in October 2024 has increased by a third compared to the same time last year.

Is now the time to re-enter the market? Seems like sellers are all following the same pattern, pricing properties within buyers’ expectations, with the perfect storm being created as people desire to close deals before the count down on New Year’s Eve. October’s been a trend setter, lining up the rest of the year and beyond, in a way that gives the buyer a boost and increases assurance. Our latest report sets up the road for residential revival, finding that almost one in five home owners are looking to move.

24/7

You've got the evenings free, haven't you? The famous shop from Open All Hours is up for auction, take the time to look down memory lane and check out a unique listing that’s hit the streets this month in Balby, South Yorkshire. It’s not only the original Arkwright available, but the two self-contained flats above. Sounds great, right? This 3 in 1 iconic purchase was listed at £150,000, in its current transformative state of a unisex hair salon.

£149

According to a recent article in i, average household gas and electricity bills are set to rise by £149 a year. With rising utility prices, energy efficiency is becoming more important to buyers than ever before. This is further seen in research we conducted for our new residential market report, finding that making energy efficient improvements to residential properties is more than just a trend; it’s a necessity if we want to reduce energy bills.

The first step to change is awareness, with our Chief Commercial Officer at Together, Ryan Etchells, telling the i, “There has certainly been an increase in the awareness of EPC ratings of a property among landlords and home-buyers, because of the spiralling costs of heating homes over the past few years”. With 17% of prospective buyers actively looking for better EPC ratings and 61% more likely to put an offer down, small improvements can add up to move that score in the right direction. Therefore, low-cost energy improvements and home upgrades can help landlords and home owners get closer to an A.

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