TwentyCi National Homemover Audit Shows House Prices on the Rise with Silver Economy Driving Momentum. The report shows that average house prices are up by 0.7% in Q2 2017 compared to the same quarter in 2016, currently standing at £298,916, and exchanges are up 6.3%*. The TwentyCi National Homemover Audit, created by life event data firm TwentyCi, is believed to be the biggest, most comprehensive report of its kind, drawing from 29 billion qualified data points to create a factual view on 99.6% of all home moves across the UK.
Colin Bradshaw, Chief Customer Officer at TwentyCi, comments: “One of the unique aspects of the TwentyCi National Homemover Audit is that it provides insight not only into the shifts in the property market itself, but also the people behind the changes. It’s interesting to see the impact that older consumers are having as they increasingly become the age group with the highest disposable income. It seems that pension reforms, such as the ability to cash in annuities, and even new mortgage deals for people aged 70+, have led to a boost in older home buyers.”
Decline in buy-to-let: 2017 has seen a shift in tenure with a 25% drop in property exchanges for properties bought for buy-to-let, more than likely a consequence of the 3% surplus Stamp Duty tax introduced in April 2016 and uncertainty around the impact on landlords of the proposed ban on agency letting fees.
Conversely, exchanges on owner-occupied properties were up by 14% year-on-year, underscoring a positive shift towards home ownership that is generally reflected nationwide.
Online on the up: There has been a significant shift towards using online-only estate agents. While they still only represent a small portion of all exchanges (5%), online estate agents’ market share has increased by 57% this year.
Independent Property Market Analyst & Commentator Kate Faulkner says: “We are seeing shifts in the housing market like never before. This data from TwentyCi provides a layer of transparency and understanding to the industry and homemovers. It’s interesting to see the impact of the government tax hikes on the landlord market. Although it may appear ‘good news’ initially that there are fewer buy-to-let investors, this is likely to back fire on tenants as where there is a shortage of rental properties, rents may rise. However, it’s also likely to hit the economy which is already slowing. A landlord spends thousands checking a property and letting it, supporting all manner of trades and letting experts. A loss of money in this sector will surely impact on earnings, and therefore on economic growth.”
To see the full extended TwentyCi National Homemover Audit in more detail, including monthly changes in exchanges, fall-throughs and property withdrawn, regional figures and also detail on the rental market please click here.
*All data is based on Q2 2017 compared to Q2 2016 unless otherwise stated
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**Editor’s notes – what is different about the TwentyCi National Homemover Audit?Created from the most robust property change data source available – making it the most comprehensive audit of its type Data is collected in close to real-time It combines more than 29 billion qualified data points The data provides a view of nearly 100% of all property moves – both sales and rentals It compiles not just data about the property being sold/moved into, but also the people who are doing the buying/moving It is factual data from qualified data sources – unlike some other reports which are based on sentiment The TwentyCi National Homemover Audit will be published quarterly
TwentyCi is a life event data company that provides intelligence into the events in consumer lives which act as purchase triggers, such as moving home, having a baby, buying a car or retiring. TwentyCi has been managing data for major advertisers like HJ Heinz and ATS Euromaster for over 15 years and is a solutions partner with global data firm Equifax. TwentyCi holds the UK’s biggest and richest resource of factual life event data including the largest, most comprehensive source of homemover data compiled from more than 29 billion qualified data points. It works with advertisers and their agencies to create contextually targeted marketing programmes that cut through by reaching consumers at the exact moment that they need a company’s product or service, through the best media channel for that individual. For more information visit http://www.twentyci.co.uk/.