Posts by Allen Walkey
Mortgage approvals at lowest for 18 months
According to figures out yesterday from The Bank of England (BoE) the number of mortgages approved by banks and building societies is at its lowest for 18 months. New mortgages approved in July totalled 60,912 down from 64,512 in June, the lowest total since Januray 2015 and a 12.4% drop in the number of mortgage…
Read MoreChanges to way buy-to-let property will be taxed.
Significant amendments to the Finance Bill slipped in at committee stage set a disturbing precedent of avoiding proper consultation and scrutiny, the Law Society said recently. The changes, which alter the way buy-to-let properties will be taxed, may result in profits from the sale of an investment property becoming liable for income tax rather than…
Read MorePurplebricks launches downunder.
Purplebricks the UK based online estate agent is now set to launch in Australia, launching in Melbourne and southeast Queensland ahead of a national rollout. The company has already seen rapid growth in the UK with its model, it has booked heavy advertising costs in attracting its client base, this has resulted in losses overall…
Read MoreNo Brick shortage is response from The BDA
The Brick Development Association (BDA), representing brick manufacturers in the UK, has responded assertively to what it sees as an “out of date and and unhelpful” report from the Centre for Economics & Business Research for the National Association of Estate Agents which was released yesterday. In a latest news article posted to their website…
Read MoreUK Cities House price Index July
Hometrack today released the UK Cities House Price Index July 2016 headlined ’20 city house price growth starting to slow’. The report begins by stating that the annual rate of house price inflation across the 20 cities has started to slow after 12 successive months of rising house price inflation. more…. City level house price…
Read MoreUK Property Transaction Count July 2016
UK Property Transactions Count July 2016 released this week by HM Revenue and Customs. The provisional seasonally adjusted UK property transaction count for July 2016 was 94,550 residential and 9,820 non-residential transactions. The seasonally adjusted estimate of the number of residential property transactions decreased by 0.9% between June 2016 and July 2016. This month’s seasonally…
Read MoreHousing crisis made worse by brick shortage
The continual high demand for bricks to keep pace with the UK house building program is not being met with supply, this is exacerbating the ‘Housing Crisis’ in Britain according to the National Association of Estate Agents’ (NAEA). The report highlighted that the construction Industry needs at present 1.4 billion bricks to deal with the…
Read MoreHouse purchase lending down in London
The Council of Mortgage Lenders (CML) published today press release headlined ‘Loans to first-time buyers up but movers down in London’. In it’s news release it begins by mentioning that in the second quarter home buyers in London borrowed £5.5bn for home-owner house purchase, down 23% quarter-on-quarter and 3% on a year ago……more Paul Smee, director…
Read MoreHigh Street Banking Statistics
The BBA published today High Street Banking statistics, the data does not suggest that borrowing patterns have been unduly affected by the Brexit vote. Net mortgage borrowing and consumer credit annual growth are identical to the figures in June at 3% and 6% respectively. Mortgage approvals for house purchases were 19% lower in July than…
Read MoreA fall in the number of House Buyers
According to the most recent National Association of Estate Agents (NAEA) monthly UK Housing Market report the ‘Number Of House Buyers Falls By A Third on Year’. In the report they mention that demand is at lowest seen since November 2013 and a third lower than July last year. Mark Hayward, Managing Director, National Association…
Read MoreClient Money Protection Scheme Amendment
It is estimated that letting agents currently hold approximately £2.7 billion in client funds on behalf of renters and landlords, this can be for a for a range of reasons, including deposits, rental payments, and money for repairs. If the letting agent is not part of a Client Money Protection scheme (CMP) clients could possibly…
Read MorePersimmon plc half year results
Persimmon plc today announces half year results for the six months ended 30 June 2016. Profit before tax increased 29% to £352.3m (2015: £272.8m) Jeff Fairburn, Group Chief Executive, said: “Persimmon’s robust trading performance in the first half of 2016 was driven by our continued focus on meeting market demand to deliver controlled sustainable growth.…
Read MoreCountrywide Lettings Index August 2016
Countrywide Lettings Index August 2016 released Monday August 15th 2016 headlines ‘London rental growth slows’. Rents in London 0.5% lower than in July 2015. Stock surge sees the number of homes available to rent in Great Britain rise 23%. Demand from tenants increases too, with 10% more searching for a home to rent. Rents across…
Read MoreHousing benefit paid to private landlords doubles.
A study undertaken by the National Housing Federation (NHF) reveals that private landlords hauled in £9.3bn in 2015, that is double what the level was ten years ago, they said the figure was due to a huge increase in private tenants who are receiving housing benefit. NHF chief executive David Orr said: “It is madness…
Read MoreAverage house prices rise by 8.7% in year to June
Facts about housing published by the Office for National Statistics (ONS) 17th August 2016. The steady rise in the cost of buying a home shows no sign of abating, as ONS figures reveal that average house prices have risen by 8.7% in the year to June 2016. The average house price as of June 2016…
Read More