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This month, the BBC reported a story of payments being offered to west Devon housing tenants who opt to downsize. Could this be one solution to free up much-needed family homes in the UK?

The bold move made by councilors is to address a shortage of suitable rental properties for families. Rising house prices and a lack of homes on the market have led to a housing crisis in this part of the country, but Devon is not alone in facing this situation.

The plan is to offer tenants who move to a smaller home a £1,000 fixed payment, with an extra £500 per bedroom released as a bonus. Tenants downsizing from a three-bedroom house to a one-bedroom property would receive £2,000, for example. There is also discussion of a discretionary £5,000 lump sum in areas of West Devon where the housing market is particularly strained.

Generally, it seems that older homeowners are keeping hold of their properties. A report from Legal & General Financial Advice at the end of Summer 2021 finds that fewer than one in four households headed by someone over 55 years old plan to downsize in the near future. This is a smaller proportion than when the survey was conducted three years ago.

Sparkle, sequins and snowflakes never go out of fashion at this time of year! Our stylish team at Gateway HQ modelled a flurry of festive knitwear on Friday 10 December, and all for a super cause.

Everyone in the team across our different departments put on a Christmas jumper and pulled off some iconic seasonal looks and, it has to be reported, some quite tricky styles! The proceeds raised from taking part in the event will help Macmillan Cancer Support continue its amazing work, so thanks to everyone for embracing the Christmas spirit.

In December, Gateway Property Management was delighted to add two new developments in Kent to its expanding nationwide portfolio.

The first development of 400 new homes is located just south of the River Thames in Gravesend, close to local amenities and a short commute to London. Eight miles away in historic Rochester on the River Medway, our dedicated team will also be managing 100 luxury homes, set in a highly sought-after area.

Since our last edition of Gateway Today, we’ve also added modern property developments to our portfolio in the Malvern Hills, a designated Area of Outstanding Natural Beauty; Sheffield City Centre; the counties of Durham, Essex, Hampshire, Hertfordshire, North Yorkshire, and Surrey; and Wimbledon, just a stroll from the famous All England Club where we hope to see Emma Raducanu lifting a trophy very soon.

As trusted managing agents, our portfolio continues to expand, from towns and cities to the countryside and coastline. You can see our latest additions, and find out more about our specialist property group, on Instagram.

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This autumn, Hamptons were among the first to forecast an annual house price rise in Great Britain of up to 3.5% in 2022. Figures from major mortgage lenders support an upbeat trend that continues to confound expectations.

How we live and work is changing, which means house-price growth is predicted to be ongoing as the demand for greater residential space continues. Hamptons predicts an increase of around 3.5% in 2022, 3% in 2023 and 2.5% in 2024. This ‘race for space’ has seen many buyers seeking room to work from home and larger gardens since pre-pandemic times. To this picture, add a severe shortage of homes after record property sales in 2021. Over 200,000 sales were recorded by HMRC in June alone. Zoopla views Britain as being in the middle of ‘the greatest stock shortage’ since 2015.

As the end of the year approaches, home sales are likely to reach a 14-year high, with more residential property being purchased in 2021 than in any other year since 2007. Despite a slowing in the market in recent months following the removal of the stamp duty holiday, Hamptons also believes that 2021 will finish with a flourish. The agent forecast house prices in Great Britain being 4.5% higher on average compared with 2020. While the Office for National Statistics reported average house prices falling by £10,000 (looking at June and July 2021), that still represented an 8% price growth.

Growth predictions are supported by two major mortgage lenders. Halifax saw an increase in property prices in August by 0.7% and Nationwide by 2.1%. The latter is the second highest leap in 15 years.