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What is the current state of the UK housing market and is it a good time to move? 

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The UK housing industry has seen some turbulence in recent years, with events such as the COVID-19 pandemic, Brexit, and wavering interest rates massively impacting the market. So, where is the UK housing market at now and what’s the outcome for those looking to buy or sell? 

Current UK market 

House prices 

House prices have fluctuated throughout the year and by September 2024, the average house price in the UK was £292,000, a 2.9% annual price change. Across Wales, house prices in September 2024 were £217,000 which was in line with the previous year’s average of £216,000. In Pembrokeshire specifically, house prices were, on average, £238,000. 

Mortgage rates

The average mortgage rate in November 2024 was 5.09% for a 2-year fixed term and 4.85% for a 5-year fixed term. This is a fair drop compared to last November which saw mortgage rates hit 6.29% and 5.86% for 2-year and 5-year fixed terms respectively. 

House sales 

The number of house sales has seen an increase in 2024. It’s estimated that there are 306,00 homes with a sale agreed, which is a 26% increase from last year. House sales are the highest they’ve been in four years and are now reaching pre-pandemic levels. 

Future Forecast 

The increase in momentum in the housing market is promising and with The Bank of England looking to drop the base rate of interest to 3.5% by 2030, mortgages will be more available to buyers. Labour has also pledged to build 1.5m homes in its first five years of Government, which should increase property purchases.

It’s difficult to accurately predict what will happen in the housing market as things can change quickly, however it seems likely that 2025 will be a good year for homeowners. 

Top tips for selling your home

If you are thinking of selling your home, here are some top tips to help you in the process.  

Make your home look inviting 

Home staging is about making your home look as attractive as possible to potential buyers. Simple things like keeping your home clean, refreshing some of your paintwork, or replacing an old lightbulb can make a significant difference to the appearance of your home. If you have old furniture that takes up extra space or your garden has become excess storage for things you don’t need, consider a rubbish removal company such as Junk Bunk to help declutter your home. 

Strengthen your kerb appeal

‘Kerb appeal’ refers to the exterior of your home. The most important features include well-maintained windows, a roof in good condition, and a tidy garden with well-looked-after pathways and fences. With 68% of home buyers considering kerb appeal important, it’s not something to overlook. 

Choose a good estate agent 

Having an organised and reliable estate agent can help you to sell your home faster and for a better price. Compare estate agents carefully and take the time to choose one you trust to sell your home efficiently. 

So, should you move? 

If you’re wondering whether now is a good time to move, it’s really down to your personal circumstances. If you want or need to move and can afford to do so, don’t let current market predictions stop you as they are changing constantly. If you’re not ready to move or don’t have the financial means to, then holding off could be a better option. 

Business

Specsavers brings state-of-the-art eyecare to county with landmark investment

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IN a time when healthcare services are stretched thin across the UK, Pembrokeshire stands out as a beacon of hope and innovation with the upcoming opening of Wales’ largest Specsavers store in Haverfordwest. Thanks to a transformative £1.2 million investment, the county is poised to benefit from world-class eye and hearing care when the new store opens its doors on Monday, December 16, 2024.

This state-of-the-art facility, situated at 21 Riverside Quay in the Riverside Shopping Centre, is set to revolutionize local healthcare with 14 test rooms, including two dedicated audiology suites. Not only does this make it the largest Specsavers in Wales, but it also places it among the most advanced in the UK. At a time when accessing NHS services can be challenging, the store’s cutting-edge technology and expanded clinical services offer a lifeline to residents, relieving pressure on GPs, hospitals, and A&E departments.

Andy Britton, ophthalmic director at Specsavers Haverfordwest, highlighted the importance of this development: “Our investment reflects our commitment to delivering exceptional eye and hearing care in Pembrokeshire. This isn’t just about a bigger store – it’s about meeting the needs of our growing community, introducing advanced clinical services, and training the next generation of optometrists.”

The new store is also a hub for education, supporting optometrists pursuing higher qualifications in areas like Glaucoma and Independent Prescribing. This ensures Pembrokeshire residents have access to top-tier care while nurturing a future generation of specialists.

A recent YouGov survey commissioned by Specsavers reveals a critical gap in awareness about eye health. Nearly 70% of Welsh adults don’t think to visit an optician first for eye-related issues, often turning to overstretched NHS services instead. By encouraging patients to make opticians their first point of contact for issues like sudden vision loss or painful eyes, Specsavers aims to change this narrative.

Britton elaborated: “Optometrists are equipped to handle many urgent eye issues, often faster and more effectively than traditional NHS routes. By improving awareness, we’re not only providing faster care but also reducing unnecessary strain on the NHS.”

The grand reopening event promises to be a celebration of both innovation and community spirit, featuring live music from the Haverfordwest Male Voice Choir and appearances by local dignitaries, including Pembrokeshire mayors. Specsavers has also committed to a year of community-focused initiatives in 2025, cementing its role as more than just a business – but a vital part of Pembrokeshire life.

Cllr Paul Miller, Deputy Leader of Pembrokeshire County Council, praised the investment: “At a time when many towns are struggling, Specsavers’ decision to invest in Haverfordwest demonstrates confidence in our community’s future. This new store is not just a healthcare milestone – it’s a cornerstone of our town’s regeneration.”

With flexible seven-day-a-week hours and a commitment to both innovation and accessibility, Specsavers Haverfordwest is a shining example of how Pembrokeshire continues to defy national trends in healthcare decline. For more information or to book an appointment, visit www.specsavers.co.uk/stores/haverfordwest.

Pembrokeshire is truly fortunate to have such a forward-thinking service at its heart, proving that even in challenging times, innovation and care can thrive.

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Business

Approval expected for 91 Narberth houses

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PLANS for an estate of 91 houses, more than 40 per cent of them affordable, in a Pembrokeshire town described as one of the best places to live in the UK, are expected to be approved next week.

In an application recommended for conditional approval at the December 3 meeting of Pembrokeshire County Council’s planning committee, Wales & West Housing Association seeks permission for 91, one, two, three and four bedroomed homes on land to the north of Adams Drive and to the west of Bloomfield Gardens, Narberth.

Narberth was featured in The Sunday Times 2023 Best Places to Live Guide, where it was described as having “a town centre that punches far above its weight”.

28 affordable homes are proposed, along with 12 houses as Low-Cost Home Ownership Units, the remaining 51 homes for open market sale.

Outline planning permission for a residential development on the agricultural land site – now lapsed – was approved in 2010.

Agent Asbri Planning Ltd, in a supporting statement, said: “The design led approach will create a high-quality place, that sensitively sits within the site retained wildlife corridors and positively connects to the community of Narberth.”

It added: “The development of a mixed tenure site for different types of homes will cater for a variety of local people. These include first-time buyers, growing families looking to move up the property ladder, those looking for bungalows or to downsize for their retirement.

“As indicated approximately half of the homes proposed will be for social rent or offered for sale as part of a discounted home ownership scheme for local people who want to buy their own home but cannot afford the high cost of houses in Narberth.

“As a not-for-profit organisation, which operates under charitable rules to bring benefit to their communities, these open market homes would allow Wales & West Housing to self-fund the development without the need for social housing grant or financial support from the Welsh Government.  This is therefore an opportunity to provide more affordable housing for local people and families.”

The discounted sale properties will be delivered via Wales & West Housing’s ‘Own Home Cymru’ scheme which helps buyers with a local connection to purchase a home of their own at 70 per cent of market value without the need for a deposit.

The application also proposes 191 parking spaces at the development.

The application finishes: “The proposed development will result in a high-quality environment which contributes to local distinctiveness and a sense of place, leading to regeneration benefits for the wider area in accordance with the site’s vision and brief.”

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Business

Cleddau Bridge Hotel affordable homes set to be approved

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PLANS to build 35 affordable homes on the fire-ravaged site of the former Cleddau Bridge Hotel, Pembroke Dock are expected to be approved next week.

In a prime location at one of the entrances to Pembroke Dock the former Cleddau Bridge Hotel has been derelict since a fire in March 2019, which brought emergency services from as far afield as Ammanford, Aberystwyth and Swansea.

A previous planning application for the demolition of the hotel and siting of a residential care home and linked bungalows was submitted in October 2022 and which was subsequently granted permission in February 2023.

This permission, in outline, is still live and allows for the loss of the hotel use of the site and its alternative redevelopment as a residential care home.

The site has now been purchased by Castell Group Property Specialists who specialise in delivering affordable housing in South Wales and have undertaken a joint development deal with Pembrokeshire County Council (PCC) and that deal was agreed back in April.

Castell Group Property Specialists, through agent Hayston Developments & Planning Ltd, now wants to demolish what is left of the hotel, with a development of affordable housing units, with landscaping and ecological enhancements, the housing being 100 per cent affordable, in a mix of a mix of social rent and affordable housing.

Initial discussions with the council were for 38 affordable units, which has been lowered to 35 in a mix of 16 one-bed units, 11 two-bed units, six three-bed units and two four- bed units.

The applicants say: “The application offers an opportunity to find a solution to the redevelopment of the site, which has now been vacant and derelict now for some five years, and to make a significant contribution towards meeting the affordable housing needs of the area. The proposal is unique in that the scheme would be in the form of 100 per cent affordable housing.”

The application is recommended for conditional approval at the December 3 meeting of Pembrokeshire County Council’s planning committee.

Mid and West Wales Fire and Rescue Service has previously said the 2019 fire was started by a deliberate act. Following a fire investigation, Dyfed-Powys Police said they found there to be insufficient evidence to identify a suspect.

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