Posts by EAN Breaking News
Propertymark comments on Stamp Duty threshold changes
Commenting on the Stamp Duty threshold changes commencing from tomorrow, 1 April, Toby Leek, President of NAEA Propertymark, the leading professional body for estate agents, said: “There will be many people completing on the sale of their home today to save potentially thousands of pounds from tomorrow onwards. “Some will also be disappointed that they…
Read MoreSurging rents for students – one of many ‘unintended consequences’ of the Renters’ Rights Bill
In London, there are brand new high-end developments at Kings Cross that are used by many students. But a London-based landlord tells Propertymark that though many of their student renters have never defaulted, they do have concerns about the unintended consequences that the Renters’ Rights Bill could have on the student lettings market. “It is…
Read MoreBank of England Money and Credit Report – February 2025
Overview These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals decreased by £0.9 billion, to £3.3 billion in February,…
Read MorePropertymark response to latest HMRC UK property transactions report
UK monthly property transactions commentary Headline statistics from the latest transactions data include: the provisional seasonally adjusted estimate of the number of UK residential transactions in February 2025 is 108,250, 28% higher than February 2024 and 13% higher than January 2025 the provisional non-seasonally adjusted estimate of the number of UK residential transactions in February 2025 is 90,430, 24%…
Read MoreIndustry Response to the Spring Statement
Following on from the Spring Statement, here are some thoughts from the Industry. Rightmove’s property expert Colleen Babcock: “It’s extremely disappointing that the government have not used the Spring Statement as an opportunity to extend the impending Stamp Duty deadline for those currently going through the home-moving process. We estimate over 70,000 buyers are going…
Read MoreLeaders Response to the Spring Statement
Michael Cook, Chief Executive Officer of Leaders Romans Group Given the challenge of making £15 billion worth of cuts to public spending, today’s Spring Statement was never going deliver everything on the property industry’s wishlist. That said, two significant pieces of good news stand out amongst some otherwise depressing statistics. And this goes to show…
Read MoreSpring Statement ‘Sweetener’ or Legal Headache? Lawyer Weighs In
Daniel McAfee, Head of Legal Operations at Lawhive and a UK lawyer, exploring the legal implications of the affordable housing investments. UK lawyer says “While this initiative will provide housing stability for thousands of families, many more will continue facing uncertainty. “This ongoing pressure frequently leads to interconnected legal needs, from family law matters exacerbated…
Read MorePrivate rent and house prices, UK: March 2025
Average UK monthly private rents increased by 8.1%, to £1,326, in the 12 months to February 2025 (provisional estimate); this annual growth rate is down from 8.7% in the 12 months to January 2025. Average rents increased to £1,381 (8.3%) in England, £785 (8.5%) in Wales, and £998 (5.8%) in Scotland, in the 12 months…
Read MoreLondon rental market remains stable in early 2025
Foxtons Lettings Market Index – February 2025 London rental market remains stable in early 2025 as demand and supply hold steady, Foxtons data shows The average rent now stands at £557 per week, slightly higher than in 2024 Applicant demand has remained within 3% of February 2024 levels Supply levels remain strong, with new listings…
Read MoreIndustry Response to Latest Inflation Figures
With Inflation falling by 2.8%, here are some thoughts from the Industry. Nathan Emerson, CEO at Propertymark: “This news will provide relief to many homeowners considering both the domestic and international pressures that the UK economy is currently facing and shows that the Bank of England’s cautious path last week to keep interest rates at…
Read MoreUK house price growth slows to 1.8 per cent as spring surge in homes for sale reinforces buyers market
Homes for sale are up 11 per cent year-on-year, with further increases expected as nearly 30 per cent of listings typically launch between March and May Sales agreed have risen five per cent year-on-year, with buyer demand still rising, up 10 per cent, despite static mortgage rates and higher stamp duty from April Price growth…
Read More£2 billion new investment to support biggest boost in social and affordable housebuilding in a generation.
The government has announced a £20 million investment to support the delivery of community-led housing. An extra £2 billion injection of new grant funding to build up to 18,000 new social and affordable homes has also been confirmed today, helping to deliver the biggest boost to social and affordable housing in a generation while making…
Read MoreBuilding Safety Levy is an Anti-Growth Policy
The Government has released its response to the Building Safety Levy (BSL) consultation, confirming the taxation levels it seeks to impose across the development industry. Richard Beresford, Chief Executive of the National Federation of Builders, said: “The Building Safety Levy is anti-growth, anti-SME policy, which will weaken the housebuilding industry and put the Government’s 1.5…
Read MoreThe Remediation of Dangerous Cladding report
The Public Accounts Committee has released its report; The Remediation of Dangerous Cladding identifying a range of barriers to successful remediation and presenting recommendations to the UK Government. The scale and impact of the cladding crisis that followed the Grenfell Tower disaster has proved much greater than anyone understood when this Committee first reported on…
Read MoreHousing affordability in England and Wales: 2024
In 2024, the median average home in England, at £290,000, cost 7.7 times the median average earnings of a full-time employee (£37,600); in Wales the average home (£201,000) was 5.9 times annual earnings (£34,300). Affordability in England and Wales in 2024 has returned to its pre-coronavirus (COVID-19) pandemic levels after a sharp increase between 2020…
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