Posts by Allen Walkey
Under 22’s will no longer automatically qualify for housing benefit.
Housing benefit will shortly no longer be available for 18-21 year-olds after ministers have decided to go ahead with controversial plans to force young unemployed people to live with their parents or pay their own rent. New Universal Credit regulations state that jobless under-22s will no longer qualify for help with their rental costs, the…
Read MoreOwner occupation rates remain unchanged for the third year in a row.
The latest English Housing Survey (EHS) a national survey of people’s housing circumstances and the condition and energy efficiency of housing in England recently published from the Department for Communities and Local Government has found that the number of households living in their own home is broadly unchanged on the year before, however this is…
Read MoreHome affordability in Scottish cities is on average, now at its worst level since 2009.
Recent press release from the Bank of Scotland headlined ‘Home affordability deteriorates for fourth year in Scotland’s cities’ According to the latest Bank of Scotland Affordable Cities review, home affordability in Scottish cities is, on average, now at its worst level since 2009 and is slightly worse than in Scotland as whole. Graham Blair, Mortgage…
Read MoreMore first-time buyers are having to pay stamp duty on their home purchase
As house prices continue to rise more first-time buyers (FTB) are having to pay stamp duty on the purchase of their properties, just 26% of FTB’s in 2016 were able to buy properties worth under the stamp duty threshold (£125k), that is down from 47% of FTB’s 10 years earlier, according to data from the…
Read MoreUK average rents continue to see a slower rate of growth compared to last year says Homelet
Data from the latest Homelet Rental Index February 2017 reveals average rents in the UK continue to see a slower rate of rental growth compared to last year. The average UK rental value was £895pcm, compared to the same period last year that is an increase of 0.8% (£882pcm). The average rental value in Greater…
Read MoreZPG PLC announces their aquisition of Expert Agent
ZPG Plc yesterday 1st March announced that it has acquired Expert Agent, this is following the announcement on 31 January that ZPG was in negotiations on a potential further acquisition. Expert Agent was established in 2003 and was the first UK provider to take estate and letting agency software online and provides fully cloud-based software…
Read Moreannual rate of House price growth little changed in February says Nationwide
Nationwide House Price Index (HPI) report February 2017 released today headlines ‘UK house prices continued to rise steadily in February’. Annual house price growth edges up to 4.5%, slightly higher than January at 4.3%. A month-on-month rise in February of 0.6%. More households in England own outright than with a mortgage. Commenting on the figures,…
Read MoreGovernment ought to seize this opportunity to work with industry says NFB
The National Federation of Builders (NFB) and the House Builders Association (HBA) believe that the Government’s housing policies have contributed to inflating demand for housing without boosting supply, in a recent news release on 27th February from the NFB they think that the Government should listen to industry more on the Housing White Paper. Figures…
Read MoreCity living is becoming increasingly expensive says Lloyds Bank
Lloyds Bank press release yesterday 27th February Affordable Cities Review headlined ‘Home affordability in cities at its worst since 2008’. Home affordability measured by the ratio between average city house prices and average gross local earnings across UK cities is at its worst level since 2008, according to Lloyds Bank’s Affordable Cities Review. In the…
Read MorePersimmon continued to perform strongly in 2016
Persimmon plc announced yesterday their Final Results for the year ended 31 December 2016. A rise in underlying profit of nearly a quarter and growing sales for 2016 were the highlights to the announcement, their focus on disciplined high quality growth delivers excellent full year performance. Nicholas Wrigley, Group Chairman, said: “Persimmon continued to perform…
Read MoreGood start to the year as rents increase in most regions, says Your Move
The Your Move Buy-to-Let Index February 2017 report released last week headlined ‘Rental market has strong start to 2017’. Landlords enjoyed a good start to the year as rents grew in all regions except one in the year to January 2017 according to the Your Move England & Wales Buy to Let Index. Valerie Bannister,…
Read MoreGross mortgage borrowing totalled £13.8 billion in January according to BBA
The latest High Street Banking Figures statistical report January 2017 released by the BBA 24th February reveales that gross mortgage borrowing totalled £13.8 billion in January, 6.3% higher than the same period last year, net mortgage borrowing was 2.4% last month, higher than in January 2016. House purchase approval numbers were 2.5% lower than in…
Read MoreCity level house price growth at 6.9% yr on yr says Hometrack
The Hometrack UK Cities House Price Index report January 2017 released today. They state: City level house price growth 6.9% year on year down on 7.9% recorded in January 2016. London has dropped to eighth in city rankings, registering the lowest rate of growth at 6.4% and is running at its lowest level for 4…
Read MoreCML estimates Gross mortgage lending reached £18.9 billion in January
News releases yesterday 23rd February from the Council of Mortgage Lenders (CML) included Market commentary February2017 and press release with their estimate that gross mortgage lending reached £18.9 billion in January, up 2% compared to a year ago. They stated: First-time buyer numbers continue to recover in 2016, but home mover numbers remain weak. Remortgage…
Read MorePurplebricks intends to expand in the US
Purplebricks PLC announced late yesterday its intention to raise up to £50 million (before expenses), the net proceeds of the Placing will be utilised by the Company to enable Purplebricks to launch its business in the US, initially by establishing itself in a number of key states. The Directors intend that the first stage of…
Read More