The Intermediary – March 2025 - Flipbook - Page 45
RESIDENTIAL
Opinion
has found its feet
process. Under new plans announced
in February, it aims to modernise
the way the process works in order
to bring down the current delays of
almost five months.
These reforms are set to open key
property information, ensuring
that data can be shared between
trusted professionals more easily,
driving forward plans for digital
identity services, resulting in shorter
transaction times, and ensuring that
information is a lot more accessible.
There are also plans for a new
Mortgage Guarantee Scheme to
increase homeownership for young
families and those stuck in the renting
cycle. Details are yet to be announced,
but will replace the existing mortgage
guarantee scheme, which was due to
expire this year – welcome news for
first-time buyers in the capital, where
larger deposits and higher loan-tovalues (LTVs) are required.
The signs point to 2025 being a
buyers’ market, again suggesting a
healthier appetite for purchase and
transactions further up the chain.
In London, there is a noticeable
trend towards companies insisting
employees return to office working.
This is supporting demand and values,
and we’re also seeing renewed interest
from international buyers.
Despite relatively flat house price
inflation in the capital, experts at
Rightmove now predict London
price growth to be in line with, if not
marginally ahead of, national price
growth in 2025.
Lower mortgage rates, soer pricing
and a large number of households
seeing their fixed-rate deals end in
2025 should all help to drive activity,
not only across the capital but in
the rest of the UK.UK Finance has
forecast that there will also be gradual
improvements in affordability, with
remortgaging expected to grow by 30%
to £76bn this year.
While in London affordability
remains an issue, the outlook is
ROBIN JOHNSON
is MD at KFH
Professional Services
brighter than it was immediately aer
the Budget in October.
Despite the underlying economic
uncertainties, there is still a desire
from buyers and investors to become
property owners in the capital, and
all the indications are that the London
property market is set to go from
strength to strength in 2025. ●
March 2025 | The Intermediary
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