Posts by Allen Walkey
Prices falling across 20 local authorities in London according to Hometrack
Latest Hometrack UK Cities House Price Index report – May 2018 reveals that house price inflation is at 4.6% year on year, with prices falling across 20 local authorities in London. House price growth across the London City index is now 0.4% over the last 12 months. Prices are falling in nominal terms by up…
Read MoreRLA argues ministers need to scrap the new homes tax for landlords
A new report being published by the Residential Landlords Association’s (RLA) research exchange, PEARL, warns that the country faces a net loss of 133,000 homes for private rent over the next year. This follows Government figures showing that between March 2016 and March 2017 England saw a loss of 46,000 private rented homes. Ministers need…
Read MoreBank of Scotland launches mortgage gift site
Bank of Scotland is offering first-time buyers, home movers and those who switch from another lender £500 to spend on a new online Mortgage Gift site as part of its latest mortgage campaign. Graham Blair, mortgage director at Bank of Scotland, said: “We are always thinking of new ways to make life easier for our…
Read MoreShelter analysis of government released quarterly homelesness figures
Shelter analysis of government released quarterly homelessness figures headlined ‘Highest number of older people homeless in a decade’. New government figures on homelessness show: · In the last year, 2,520 people aged 60 and over were accepted as homeless – a staggering rise of 40% in the last five years, and the highest number for…
Read MoreHouse price growth falls to slowest pace for 5 years according to Nationwide
Latest Nationwide House Price Index report – June 2018 released today headlines ‘Annual house price growth slows to a five-year low in June’. The Nationwide report reveals that most regions saw slowing in house price growth, UK annual house price growth softened to 2%. Prices were up 0.5% uing the month, after taking into account…
Read MoreComplaints against Purplebricks upheld by ASA
Purplebricks has been ordered to change what is seen as misleading advertising on their website after a set of complaints against it were upheld by the Advertising Standards Authority (ASA). The ASA action required that the advertisement must not appear again in the form complained of. The ASA stated: We told Purplebricks Group plc to…
Read MoreThe May increase in mortgage approvals driven by strong growth in remortgaging according to UK Finance
Latest UK Finance Household Finance Update for May 2018 reveals that estimated gross mortgage lending for the total market in May was £22.2bn, 8.8 per cent higher than the same month a year earlier. Mortgage approvals by the main high street banks in May have also risen, increasing by 3 per cent compared to…
Read MoreDemand from prospective buyer’s increases in April according to NAEA Propertymark.
Latest NAEA Propertymark Housing Report – April 2018 headlines ‘Housing Market Swings Back In The Favour Of Sellers’. The report reveals that demand from prospective buyers grew by nine per cent in April; on average, estate agents had 337 house-hunters registered per branch, compared to 308 in March. Mark Hayward, Chief Executive said: “Last month…
Read MoreHalifax research reveals that average house prices in British seaside towns have increased by 21% in the past decade
Halifax research reveals that average house prices in British seaside towns have increased by 21% in the past decade – over £4,000 a year Sandbanks in Poole is Britain’s most expensive seaside town for the third year running, according to Halifax’s latest research. The second and third spots remain unchanged on last year with average…
Read MoreBank of England announces Bank Rate remains at 0.5%
The Bank of England announced on the 21st June 2018 that Bank Rate remains at 0.5%. At its meeting ending on 20 June 2018, the MPC voted by a majority of 6-3 to maintain Bank Rate at 0.5%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by…
Read MoreGovernment to review licensing and publishes guidance on HMO changes
The Government has announced that they are to conduct a review into licensing schemes, with a view to publishing their findings next year. They have also released guidance on the new HMO rules which will come into effect in October this year. David Cox, Chief Executive, ARLA Propertymark, commented: “Licensing doesn’t work, and it never…
Read MoreUK housing market remains resilient according to LSL/Acadata
Latest LSL Property Services/Acadata England & Wales House Price Index – May 2018 headlines ‘New builds bolster London’. Annual growth rates rise for first time in a year, however transactions down by 6% year-to-date according to HPI report. The report reveals that the UK housing market remained resilient showing a very slight rise in the…
Read MoreThe RLA responds to the National Audit Office’s report on the roll out of Universal Credit
The RLA responds to the National Audit Office’s report on the roll out of Universal Credit, David Smith, Policy Director for the Residential Landlords Association, commented: “Whilst it is clear that Universal Credit is here to stay, today’s report recognises the difficulties faced by tenants and landlords as a result of rent arrears. The RLA’s…
Read MoreStrong growth in remortgaging in April 2018 according to UK Finance
Latest UK Finance Mortgage Trends Update headlines ‘Remortgaging bounces back as borrowers put their house in order.’ UK Finance’s latest Mortgage Trends Update reveals there was strong growth in remortgaging in April 2018, with new homeowner mortgages up 36 per cent and buy-to-let remortgages up 32.4 per cent compared to the same month a year…
Read MoreOnTheMarket achieve their latest milestone of 9,000 contracted offices just three weeks after reaching 8,500 offices
OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, announced on the 14th June 2018 that as of 13 June it has signed listing agreements with UK estate and letting agents with more than 9,000 offices. This increase of over 3,500 branches since Admission on 9 February represents growth of more than 63%.…
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