With the petrol panic, eyes on Christmas, unexpected snow and the return to masks in the face of another new Covid variant, property news took somewhat of a back seat throughout November, although from our point of view, the market has been as strong as ever, in fact we listed slightly more properties in November than October, and buyer appetite remains at a peak. So with a limited supply of articles, we have picked through the local and national news to bring you our November roundup.
First up, Derbyshire Live bring news of the start of works in the City Centre as demolition begins at the junction of Exeter Place and Derwent Street. An industrial unit is being removed to make way for more than 100 new apartments which gained planning permission back in 2018. One of many new developments in the city, the start of works signals much needed investment in the city with hope that added investment with bring life back to some parts of town. You can read the full article here: https://www.derbytelegraph.co.uk/news/derby-news/demolition-begins-make-way-100-6279308.
Next up, again from Derbyshire Live, is a report surrounding a now notorious extension in Swadlincote. The work has been likened to a gun turret, bird hide and the 8th wonder of the world by locals but is now in the hands of an architect and a planning application has been made. Take a look here: https://www.derbytelegraph.co.uk/news/derby-news/owner-ridiculed-derbyshire-home-extension-6279278.
Heading over to the BBC who have made comment on the cost of rent on a national level, with a report stating that rent is rising at its fastest pace for 13 years. Take a look at the report here: https://www.bbc.co.uk/news/business-59296839. They follow up with a look at national house prices, suggesting that the average price stands at £270,027, according to the UK’s largest mortgage lender. However, they go on to point out that with the Bank Of England hinting at further interest rate rises, cooling of house prices is likely as borrowing costs rise. Take a look at the full report here: https://www.bbc.co.uk/news/business-59174582.
Rightmove have taken an interesting look at the effect of electric vehicles on property listings, registering a sixfold increase in listings with access to electric car charging points. With the focus evermore firmly on the environmental issues facing homeowners, is this the start of a new trend for property searches? Take a look at the report here: https://www.rightmove.co.uk/press-centre/homes-listed-for-sale-with-access-to-electric-car-charging-points-increase-six-fold-in-a-year/.
And finally, Rigthmove take a look at the New Year with predictions that higher taxes will curb house price growth in 2022. Take a look here: https://www.estateagenttoday.co.uk/breaking-news/2021/11/higher-taxes-will-curb-house-price-rises-in-2022–rightmove.
And that about wraps it up for November! As said earlier, here at Hannells we are still exceptionally busy and have seen listings increase in the run up to Christmas, so let’s see where December takes us! If you need any advice about the property market in Derby, selling, buying or renting, just get in touch with your local leading agent! Find your nearest branch here.