Posts by EAN Breaking News
Mortgage and Landlord Possession Statistics: October to December 2024
Mortgage claims, orders, warrants and repossessions increased Compared to the same quarter in 2023 there were increases in mortgage possession claims from 4,385 to 6,080 (39%), orders from 2,697 to 4,178 (55%), warrants from 2,240 to 3,305 (48%) and repossessions by county court bailiffs from 595 to 957 (61%). Landlord possession actions have all increased…
Read MoreGovernment unveils plans for next generation of new towns
Over 100 sites across England have come forward to be considered for next generation of new towns Government on track to create beautiful communities, provide affordable homes, and deliver much needed infrastructure, including schools and nurseries, GP surgeries, and bus routes By taking on the blockers, 20,000 homes, along with new schools and health facilities,…
Read MoreFirst-Time Buyers Face £11,250 Tax Blow as Labour’s Stamp Duty Deadline Looms
120,000 UK homebuyers face unwanted tax bill ahead of Labour’s April stamp duty changes According to data from TwentyCi data, more than 120,000 homebuyers are at risk of unexpected stamp duty bills as they scramble to complete purchases before Labour’s planned stamp duty changes take effect on 1 April. A third of buyers who have had offers accepted…
Read MoreThe Perfect Match: Zoopla reveals the most affordable places for single Brits to buy a home
Aberdeen has been named as the most affordable city for single homebuyers with average monthly mortgage payments of £510, around 16 per cent of average salaries In England, Liverpool has been named the most affordable city for single Brits with average mortgage payments accounting for 18 per cent of monthly salaries Affordability for singletons…
Read MoreResponse to Latest Halifax House Price Index
Halifax house price data shows property prices have risen by 0.7% month on month, here are some thoughts from the industry. Nathan Emerson, CEO of Propertymark: “As we embed ourselves into 2025, confidence is being echoed within the housing market, as house prices and mortgage lending remain buoyant. “With the Bank of England announcing…
Read MoreHalifax House Price Index – January 2025
House prices in January 2025 were 3.0% higher than the same month a year earlier. The housing market kicks off 2025 with price rise to hit new record high • House prices increased by +0.7% in January following dip of -0.2% in December • Average property price of £299,138 is a new record high •…
Read MoreLandlords Respond to Government’s Energy Efficiency Plans
Responding to the publication of the Government’s consultation on the energy efficiency of privately rented housing, Ben Beadle, Chief Executive of the National Residential Landlords Association, said: “We all want to see rented homes as energy efficient as possible, but that will require a realistic plan to achieve this. “The chronic shortage of tradespeople to…
Read MoreComment on the Bank of England’s Decision to Lower Interest Rates
Following the Bank of England’s announcement that it is reducing interest rates by 25 basis points from 4.75% to 4.5% here are some thoughts from the industry. Nathan Emerson, CEO of Propertymark: “Despite widespread uncertainty and the Bank of England expecting inflation rates to increase to 2.8% by the third quarter of 2025 before easing again,…
Read MoreUK house sales up 19% year on year for December
The latest UK monthly property transaction report from the HMRC. The provisional seasonally adjusted estimate of the number of UK residential transactions in December 2024 is 96,330, 19% higher than December 2023 and 3% higher than November 2024 The provisional non-seasonally adjusted estimate of the number of UK residential transactions in December 2024 is 98,120, 15%…
Read MoreHouse price growth softens at the start of 2025
Annual rate of house price growth slowed to 4.1% in January, compared with 4.7% in December House prices up 0.1% month on month Little change in overall rate of home ownership in recent years despite affordability pressures Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “The price of a typical UK home rose…
Read MoreLeaseholders To Benefit Significantly from the removal of Two-Year Rule
Residential property transactions could become easier following the removal of the two-year rule for leasehold property extensions which comes into force today (31 January 2025) but lawyers have warned the necessity of proving ownership could be challenging due to Land Registry backlogs. This significant change means leaseholders no longer need to own their leasehold property…
Read MoreHousing market gets off to its strongest start in three years, with new sales agreed up 12 per cent on 2024
The 2025 sales market has got off to a stronger start than in 2024 or 2023 with buyer demand up 13 per cent and 10 per cent more homes for sale Rising sales are supporting UK house price inflation which is +2.0 per cent in the year to December 2024, compared to -0.9 per cent…
Read MoreBank of England Money and Credit – December 2024
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 rose by £1.0 billion, to £3.6 billion in December. Net…
Read MoreWestminster council must outline how their proposals on property boards will not hinder market
Westminster City Council must explain how their proposals to renew the existing Regulation 7 Direction and expand it to the whole borough will not hinder the sales and lettings markets, Propertymark argues. At present, some areas of Westminster are subject to a Regulation 7 Direction, which means consent from the Council is needed to display…
Read MoreNational Federation of Builders View on Chancellor’s Speech
At the Autumn Budget 2024, Chancellor Reeves scaled back her interference in the planning process. However, in her speech today, she returned to the position that a well-functioning planning system is crucial to not only enabling growth but, more importantly, sustaining it. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), commented: “The…
Read More