In property news today…

In property news today…

BEWARE SALTBURN EFFECT: Ever thought of offering your home as a location for a period drama? A heritage insurance company has published a guide aimed at the owners of historic properties on how best to manage the risk of a film crew on site. The advice also covers what to do about the possibility of reputational damage caused by the public identifying and associating the property with scenes or plot twists and turns they don’t like. It follows the case of a mansion featured in the film Saltburn that saw a rush of trespassers arriving to take selfies after its location was flagged on TikTok videos.

RECORD HIGH: The average British house price reached a record high of £375,131 in May. The increase is due to pent-up demand from prospective buyers who had previously shelved their plans due to the cost-of-living crisis and who are now active in the market. Rightmove says the average price of properties coming to market has risen 0.8%, or £2,807, month on month. That’s despite mortgage rates remaining higher for longer than anticipated, the property website’s report said. Meanwhile in the rental sector  property firm Hamptons said tenants renewing an existing contract in Britain typically saw their rent rise by an average of 8.3% in the year to April.

OPPORTUNITY SHOWCASE: Land and property owners, investors and policymakers will explore strategic investment opportunities across the country at the UKREiiF conference taking place in Leeds this week. Standing for the ‘UK’s Real Estate Investment & Infrastructure Forum’, this massive, three-day event is designed to promote discussions around unlocking and accelerating sustainable, inclusive and transformational investment in all regions. Speakers include Peaky Blinders creator Steven Knight, the BBC’s Tom Wrathmell and urban design author David Rudlin.

SUMMER CUT: The Bank of England has signalled its strongest indication so far that interest rates could come down as early as this summer. Deputy Governor Ben Broadbent, a member of the Bank’s Monetary Policy Committee, the body that sets the base rate, has said a summer reduction is ‘possible’.

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