Posts by Allen Walkey
The pound still vunerable to Referendum uncertainty
In the run up to the referendum for the UK to remain a member of the European Union it was expected by many analysts that the pound sterling would weaken due to the uncertainty of the outcome. The pound is very vunerable to comments and did lose some ground recently particularly against the Euro, as…
Read MoreCrossrail adds value to properties.
Properties within easy reach of the capital have seen values soar in the past year. Crossrail is still a year away from opening but is still having an upward effect on prices of properties within easy reach of the stations that will serve London commuters. The Land Registry said in its report yesterday that Slough…
Read MoreLand Registry figures for February
Land Registry has released its latest house price index and revealed that the average price of a home in England and Wales showed a monthly price decrease of 0.2%, annual growth now stands at 6.1%, bringing the average house price in England and Wales to £190,275. The average house price of property in London has…
Read MoreBuy-to-Let mortgages consultation (BoE)
Bank of England publishes consultation on proposals for regulation of buy-to-let mortgages 29th March 2016. Underwriting standards for buy-to-let mortgage contracts – CP11/16 This consultation paper (CP) seeks views on a supervisory statement which sets out the Prudential Regulation Authority’s (PRA’s) proposals regarding its expectations of minimum standards that firms should meet when underwriting buy-to-let…
Read MoreSmoke alarms in privately rented homes still an issue.
Figures from a recent survey showed that 20% of privately rented homes have no smoke alarms fitted, the report from the English Housing Survey revealed that households with a working smoke alarm increased among owner occupiers and local authority tenants but had not risen in privately rented homes. Fire Chiefs are concerned about the number…
Read MoreFears of further clampdown on buy-to-let sector
Buy-to-let investment has risen by almost 100% over the last decade, at present it is around 14.5% of new mortgage lending, this represents a very strong group of investors. There are serious concerns coming from the Bank of England’s regulatory department that an increase in UK base rates, whenever this may be, could set off…
Read MoreMortgage borrowing remains bouyant in February
BBA figures for the High Street Banks February 2016released today. Gross mortgage borrowing of £13.2 billion in February was lower than in January but 33% higher than a year ago and the second highest increase since mid-2008. The number of mortgage approvals in February was 26% higher than a year ago, with remortgaging up 31% and house…
Read MoreNew Homes partnership for Aberdeen
An article appearing on the Scottish Housing News website reported that Places for People has signed a pioneering partnership with Aberdeen City council which will create 2,000 new homes in the city with the potential to build a further 1,000 properties. The landmark £300m Limited Liability Partnership (LLP) model is the first of its kind…
Read MoreGovernments Housing aims
Speaking yesterday at the Home Builders Federation Policy Forum 2016, Housing Minister Brandon Lewis outlined the Governments housing aims including it’s intention to deliver 1 million homes by 2020. In his introduction he mentioned the plans in the previous weeks budget announcement: for an economy set to grow faster than any other major advanced country…
Read More(ONS) House Price Index January 2016
Statistical Bulletin from The Office for National Statistics (ONS) released yesterday. House Price Index. January 2016. Main findings: UK house prices increased by 7.9% in the year to January 2016, up from 6.7% in the year to December 2015. House price annual inflation was 8.6% in England, -0.3% in Wales, 0.1% in Scotland and 0.8%…
Read MoreUS hospitality industry back in Cuba
Cuba has hit the news this week with the visit from American President Barack Obama, a warm welcome was offered, his speech went out live on TV to the Cuban people, he also enjoyed watching a game of baseball with Cuban President. Prior to the visit of President Obama who is in fact the first…
Read MoreLink between Ofsted ratings and house prices
A study out on Monday reported that house prices in middle-class areas are affected by the local Primary school attaining a better Ofsted grade, it can increase the price by tens of thousands of pounds. In the Ofstead study it linked the small changes in ratings with house prices in the catchment area, prices increasing…
Read MoreBuilding bricks are now the target of criminals.
Criminals are targeting churches and cemeteries as well as private houses to steal bricks, heavy vehicles ram the walls and then scoop up the bricks and drive off with them. The “London stock” brick is very much a distinctively coloured brick and very attractive in appearance, sometimes described as a “yellow stock” or “red stock”…
Read MoreA generation unable to afford a home of their own.
Large majority of people fear buying a home of one’s own is looking less and less likely for future generations, according to recently published research for the housing charity Shelter. This news comes just as the average house price in England went above the £300,000 mark for the first time, according to the property website…
Read MoreAverage house price breaks the £300,000 mark
The average house price now in England and Wales has now gone above the £300,000 mark for the first time, according to the property portal Rightmove today. The rush to beat the property tax rise announced back in November and coming into force at the beggining of April for those looking to rent out or…
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