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ߏ᠕K & Isle of Wight Property Market Update – May 2025
From the team at Red Squirrel Property Shop
If you’re active in the Isle of Wight property market—or just watching closely—you’ve probably noticed: the market is shifting again. But this isn’t the chaos some headlines would have you believe.
Right now, it’s not about panic. It’s about preparation.
Here’s a no-nonsense look at what’s really happening in the UK and local property market, what it means for buyers, sellers and investors on the Island, and where we see the opportunities in 2025.
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Breaking Into the Housing Market: A Guide for First-Time Buyers
Buying your first home is one of the most exciting however scary things you will ever do In your life.
It comes with a lot of decision making and financial decisions however with the right information and mindset, you can navigate the process confidently and find a place you’ll be proud to call home.
Whether you're just starting to browse listings or seriously considering a down payment, this guide will walk you through the key steps of the home-buying journey.
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Discover Spring on the Isle of Wight
The Isle of Wight, just a short ferry ride from the mainland, is a treasure trove of natural beauty, historic landmarks, and charming villages.
While it’s an incredible place to visit year-round, there’s something truly magical about spring on the island.
As the days are getting lighter Spring is the best time to explore the islands beautiful landmarks and attractions. It is also a great time to view properties if you are on the hunt for a property on the Isle of wight.
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Finding the right letting agent is crucial for landlords and tenants alike all over the UK. A reputable letting agent can streamline the rental process, ensure legal compliance, and provide peace of mind throughout the tenancy. With numerous options available, it's essential to know what factors to consider when selecting a letting agent.
In this guide, we will help you key point factors to consider to help you make your decision.
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Summary
- UK rental inflation slows to +6.6%
- London leads the slowdown with rents up 3.7% over last 12 months
- Rental still +2x pre-pandemic
- Supply of homes for rent up 18% but still 1/3 below pre-pandemic
- Rents have fallen in some major cities over last quarter
- Rental growth in most affordable areas of the UK
- Rents continue to outperform wage increases
- Supply/demand imbalance will continue
- Will politics affect the rental market?
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Deciding where to live is a massive life decision and can be one of the biggest decisions some people will make in their lives. This guide will help your decision on moving to the Isle of wight a little bit easier.
Why should you move to the island?
The Isle of wight is known for its stunning coasts, natural beauty and history. Not only does is boast nature not to forget to mention (the Red Squirrel's) it is also is well known for its hospitality, events & attractions.
The island not only offers a peaceful lifestyle away from the hustle and bustle of busy cities, but it’s also house prices are astronomically cheaper and affordable. The average house price in 2023 on the island was £306,000 compared to £389,000 for Hampshire. However, there are more expensive areas on the Isle of wight than other areas.
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Moving to the Isle of Wight? Here your top tips on discovering its beauty & what to consider
Discover on the south coast of England, the Isle of Wight boasts stunning natural beauty, rich history, and a relaxed island lifestyle that attracts visitors and residents alike. If you're considering a move to the Isle of Wight, we have the best tips and information for you.
In this blog, we’ll explore the reasons why you might want to make the move and offer insights into things to consider when relocating to this beautiful island.
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On the 14th of September 2024 Red Squirrel are hosting another black-tie event at Yarmouth’s Royal Solent yacht club in memory of Zoe Panayi.
This is raising awareness of what happened to late Zoe Panayi and to make everyone aware of Zoe’s Law. Zoe lost her life to Melanoma at the young age of 26,
leaving behind two young boys and a loving family. Unfortunately, Zoe experienced negligence, this is why we are working hard to help save other lives.
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Summary
- House price inflation down -1.1%, compared to +7.2% a year ago
- New house sales agreed up 17% year-on-year
- House price falls levelled out as sales improve
- Mortgage regulations a key element to support modest price falls in 2023
- First-time buyers are largest group of would-be movers in next 2 years (40%) followed by people up-sizing (34%)
- Almost half of buyers living in southern England (24% of total buyers) looking to move to find better value for money
- Property prices to fall around 2% during 2024
- On track of 1m completed sales in 2024
- 8.8% average mortgage stress test for new borrowers
- Still 10%+ overvalued market
Q4 2023 sales performed well, including prices falling
The final weeks of 2023 recorded 17% higher sales than a year ago, also ahead of 2019 levels. Due to rising incomes and lower mortgage rates, along with an increase in supply boosting choice and supporting sales. It’s clear that buyers and sellers are more aligned on pricing now, which has reduced the downward pressure on values. As of December 2023 the price decline was -1.1%, which is down from +7.2% a year ago.
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January things to do on the Isle of Wight 2024 Guide
Here is your top guide on things to do this winter/spring on the Isle of wight. Beat the Christmas blues by taking advantage of the island’s stunning nature, beaches and heritage. This time of year there is also plenty to do for great value perfect for families!
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Due to the cost-of-living crisis people this winter are struggling to spend large amounts on electricity and gas bills in their own homes, especially with the drop in temperature in the last month! Here are some simple tips which could help you save money and trim your bills.
