{"id":25761,"date":"2024-08-13T11:02:12","date_gmt":"2024-08-13T10:02:12","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=25761"},"modified":"2024-08-13T11:02:45","modified_gmt":"2024-08-13T10:02:45","slug":"home-finance-in-the-news-10","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2024\/08\/13\/home-finance-in-the-news-10\/","title":{"rendered":"Home Finance &#8211; In the news"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Location, location, location<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Homeowners are willing to pay more for convenience, as a short walk to a town centre or high street could boost a home\u2019s value by more than \u00a380,000<sup>1<\/sup>.&nbsp; In England, homes that are close to a town are worth 27.6% more than the average property.&nbsp; Interestingly, proximity costs an extra 14.2% in the West Midlands, but East Midlands homes only have a 0.9% premium. So, buyers looking to get more for their money may wish to look a little further afield \u2013 provided they don\u2019t mind going the extra mile for a high street!&nbsp;&nbsp;&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Surge in smaller homes<\/strong> <strong>&nbsp;<\/strong> <strong>&nbsp;<\/strong> <strong>&nbsp;&nbsp;<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The pandemic prompted many homeowners to move out of cities in favour of bigger homes, but this trend, coined the \u2018race for space,\u2019 is now possibly being reversed as data shows demand for smaller homes is increasing. Last year, 53% of homes sold with a mortgage were smaller properties \u2013 the highest proportion in nearly 30 years<sup>2<\/sup>. This highlights that, amidst the cost-of-living crisis and&nbsp; ongoing mortgage affordability challenges, buyers are managing their expectations and settling for less space. It may not be surprising that many of these small homeowners are first-time buyers, 57% of whom purchased flats or terraced houses in 2023.&nbsp;&nbsp;&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>Yopa, 2024, <sup>2<\/sup>Halifax, 2024&nbsp;&nbsp;&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments<\/strong>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Location, location, location&nbsp; Homeowners are willing to pay more for convenience, as a short walk to a town centre or high street could boost a home\u2019s value by more than \u00a380,0001.&nbsp; In England, homes that are close to a town are worth 27.6% more than the average property.&nbsp; Interestingly, proximity costs an extra 14.2% in [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":25762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,91],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/25761"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=25761"}],"version-history":[{"count":3,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/25761\/revisions"}],"predecessor-version":[{"id":25765,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/25761\/revisions\/25765"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/25762"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=25761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=25761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=25761"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=25761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}