Posts by EAN Breaking News
Tear down barriers to help diversify the housing market, says FMB
Small house builders, who account for just ten per cent of all new homes built across the country, won’t be able to increase their market share unless a series of barriers are removed, says a new report, ‘Supporting SME Housebuilders: Challenges and Opportunities’, commissioned by the Federation of Master Builders (FMB) from the London School…
Read MoreZoopla Rental Market Report: Rents rising at slowest pace for over three years
Average UK rents for new lets are 3.9 per cent higher over the last year, the lowest rate of growth since August 2021 The supply/demand imbalance is narrowing as demand cools (-29 per cent) and supply increases slowly (+12 per cent) Growing affordability pressures are also a key factor behind slower rental growth in areas…
Read MoreLandlords Selling up Growing Challenge for Tenants
The number of households in the private rented sector at risk of homelessness due to landlords selling up has increased by a third since the end of last year. The analysis by the National Residential Landlords Association (NRLA) highlights the need to encourage responsible landlords to stay in the market. According to government data, between…
Read MoreHalifax House Price Index November 2024
House prices in November 2024 were 4.8% higher than the same month a year earlier. House prices increased by +1.3% in November, a fifth consecutive monthly increase Property prices are up +4.8% on an annual basis (vs +4.0% last month) Typical property now costs £298,083, a new record Northern Ireland continues to record the strongest…
Read MoreZoopla reveals buyer behaviour in Property for 2024
2024 in Property: Zoopla reveals buyer behaviour and user trends over the past 12 months, after the busiest sales pipeline in four years Disney-themed property in Wales is the most viewed property on Zoopla in 2024 with 219,000 views The average time to sell in 2024 was 33 days, down from 34 days in…
Read MoreUK Government’s ambitions for removing unsafe cladding
As at the end of October 2024, there are 4,834 residential buildings 11 metres and over in height identified with unsafe cladding whose remediation progression is being reported on in this release, an increase of 13 since the end of September 2024. Since the department first began reporting on all five remediation programmes in October…
Read MoreBarclays: Rent and mortgage spending reaches 14-month high
Rent and mortgage spending reaches 14-month high, as over half of Brits worry about the impact of rising rent or mortgage costs Growth in rent and mortgage spending increased 8.2% year-on-year last month, reaching a 14-month high, according to the latest Barclays Property Insights report. When asked about their household expenses, four in 10…
Read MoreDangerous Cladding – Questions raised by Remediation Acceleration Plan
The government has published its Remediation Acceleration Plan, and pledges that dangerous cladding will be fixed on all high-rise buildings on Government schemes within the next five years. The plan sets out that by the end of 2029, all buildings over 18 metres tall – defined as high-rise – with unsafe cladding that are on a Government…
Read MoreNationwide data showing house prices rose – Thoughts from the Industry
The latest Nationwide data showing house prices rose at much higher pace than expected at 1.2%. Here are some thoughts from the property industry. Daniel Austin, CEO and co-founder at ASK Partners: “We continue to see a month-on-month rise in house prices, which is hopefully the sign of an upward trend developing for the…
Read MoreAnnual house price growth rebounds in November
UK house prices rose 1.2% month on month Annual growth rate rebounded to 3.7%, from 2.4% in October – fastest since November 2022 House prices now just 1% below all-time peak Headlines Nov-24 Oct-24 Monthly Index* 536.6 530.4 Monthly Change* 1.2% 0.1% Annual Change 3.7% 2.4% Average Price (not seasonally adjusted) £268,144 £265,738 * Seasonally…
Read More25% house price premium in National Parks
25% premium for a property situated within a National Park 7% premium for a property within 5km of a National Park 15% premium for a property located in an Area of Outstanding Natural Beauty (AONB) Commenting on the figures, Andrew Harvey, Nationwide’s Senior Economist, said: “National Parks continue to be highly desirable areas to live…
Read MoreFreehold and Leasehold Reform Act-lessees can control their own destiny
Matthew Pennycock, Minister of State for Housing and Planning, has made a Parliamentary Statement regarding the future progress of the Freehold and Leasehold Reform Act 2024. The Government have formally recognised the “significant complexity of the task” and that the legislation was rushed in at the end of the last parliament and as a result…
Read More2025 Predictions for the Private Rental Sector
Allison Thompson, National Lettings Managing Director, Leaders Romans Group (LRG) “As we approach 2025, the lettings industry is entering a phase marked by stabilisation and opportunity. Rental inflation has slowed to an average of 3-4% for new lets, reflecting the effects of affordability constraints; renters’ budgets are beginning to limit how much rents can rise.…
Read MoreResponse to Matthew Pennycook’s Statement on Leasehold Reform
Yesterday, Secretary of State Matthew Pennycook made a Ministerial Statement on the future of leasehold reform. Responding, Mark Chick, director of ALEP and a Partner at Bishop & Sewell LLP said: ALEP welcomes the ministerial statement which puts in place a timeframe and some objectives for the implementation of the Leasehold & Freehold Reform Act.…
Read MoreONS House Price Index – November 2024
Headlines Average UK private rents increased by 8.7% in the 12 months to October 2024 (provisional estimate); this is up from 8.4% in the 12 months to September 2024. Average rents increased to £1,348 (8.8%) in England, £766 (7.9%) in Wales, and £976 (6.6%) in Scotland, in the 12 months to October 2024. In Northern…
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