Buy to Let

TwentyCi National Homemover Audit Shows House Prices on the Rise with Silver Economy Driving Momentum

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TwentyCi National Homemover Audit Shows House Prices on the Rise with Silver Economy Driving Momentum

In the first of a new regular report into the property market, called
the TwentyCi National Homemover Audit**, it has been revealed that,
despite a bumpy year, the UK housing market is surprisingly buoyant. 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.

Other key findings from the TwentyCi National Homemover Audit are:

The silver economy: People aged 66+ have played a significant
role in driving momentum this quarter, with residents aged 66+ showing
56% more exchanges year-on-year. There has also been a dynamic shift in
the number of people opting to live alone, with 69% more exchanges for
homes occupied by single adults.

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

## ENDS ##

**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

About TwentyCi

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/.

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