Posts by EAN Breaking News
Halifax House Price Index for July
UK house prices rise in July House prices increased by +0.8% in July, following three relatively flat months Annual growth rate of +2.3% is the highest since January 2024 Typical property now costs £291,268 (compared to £289,042 in June) Northern Ireland continues to record the strongest annual house price growth in the UK Amanda…
Read MoreBank of England Cuts Interest Rates – Thoughts from the Industry
The Bank of England (BoE) has today reduced the base interest rate to 5%, marking the first rate cut since March 2020. Here are thoughts from the property industry. Rightmove’s mortgage expert Matt Smith says: “Over the last couple of weeks, average fixed-rate mortgages have been slowly edging up in anticipation of today’s rise of…
Read MoreNationwide House Price Index for July
House price growth edged up in July UK house prices rose 0.3% month on month in July Annual growth rate picked up to 2.1%, from 1.5% in June Marks fastest pace of growth since December 2022 Headlines Jul-24 Jun-24 Monthly Index* 526.6 524.9 Monthly Change* 0.3% 0.2% Annual Change 2.1% 1.5% Average Price (not seasonally…
Read MoreEnglish Housing Survey: Eight in Ten Private Renters Satisfied With Accommodation
Private renters are more satisfied with their accommodation than those in the social rented sector, according to new data published today. According to the Government’s latest English Housing Survey, in 2022/23, 82 per cent of private renters were satisfied with their accommodation, compared to 74 per cent of those in the social rented sector. The…
Read MoreBeresfords presents expert insight on the post-election property market
Beresfords presents expert insight on the post-election property market under Labour’s commitment to ‘Get Britain Building Again’ With the Labour Government winning the UK election with a landslide majority, Property Group, Beresfords, believe that the landscape of the UK property market is set to remain robust and move forward positively into the second half of…
Read MoreLabour’s Victory Marks a New Era for Construction Industry and Growth
Following the Labour Party’s victory in the 2024 General Election. The National Federation of Builders (NFB) provides expert insights and analysis on what this significant political shift will mean for the construction industry with several key implications for the construction industry. Labour’s manifesto entitled ‘Change’ has a strong emphasis on growth, planning reform, and partnership…
Read MoreGeneral Election 2024 Result – Thoughts from the Industry
With Labour winning the General Election, here are some thoughts from within the property industry. Mark Chick, director of ALEP (the Association of Leasehold Enfranchisement Practitioners) “So now that we know the size of the Labour majority it seems a fairly safe bet that the next five years will see a more vigorous programme of…
Read MoreLeasehold and Freehold Reform Act Replaces Certainty with Uncertainty
According to members of the Association of Leasehold Enfranchisement Practitioners (ALEP) “This Act leaves more uncertainty than certainty,” said a member of Association of Leasehold Enfranchisement Practitioners (ALEP) in a recent member poll on the effectiveness of the legislation. Initially announced in last November’s King’s Speech and concluded in the pre-election ‘wash-up’ of parliamentary Bills,…
Read MoreRenters and Landlords Face Uncertainty Amid Silence From Parties on Housing Benefits Crisis
Millions of people living and working in the private rented sector face chronic uncertainty due to a failure by the main political parties to provide clarity on housing benefit rates. Over 1.5 million households renting privately in Britain receive Universal Credit with support for their housing costs, known as the Local Housing Allowance (LHA), included.…
Read MoreThird of Private Renters Are Struggling to Afford Their Rents Says New Research
Over a third of all private renters are finding it difficult to afford their rent according to new research out today. Whilst overall 35 per cent of renters said they were finding it difficult or very difficult to afford their rent, this proportion increased to 56 per cent for those not in work due to…
Read MoreBank of England’s decision to hold the Base Rate – Industry Reaction
The Bank of England held interest rates at 5.25% for the seventh time in a row. The decision comes despite official figures yesterday which revealed inflation had fallen to the Bank’s target of 2% for the first time in nearly three years. Here are some thoughts from the property industry. Rightmove’s mortgage expert Matt…
Read MoreRental Reform Undermined by Lack of Choice for Tenants
A lack of choice for private renters about where they can live will undermine plans set out by many of the UK’s major political parties to reform the rental market. That’s the warning from the National Residential Landlords Association (NRLA) as the Conservatives, Labour, Liberal Democrats and Green Party all propose ending section 21 ‘no…
Read MoreReform announces a ‘Contract’ with the voter – Comments from NFB
Reform leader, Nigel Farage has announced ‘Our Contract With You,’ the Reform parties draft document is seeking comments for finalisation later in the year. Mirroring business strategy, the contact seeks to ‘run the nation ‘like a lean, efficient business with motivated employees and happy customers.’ Richard Beresford, Chief Executive of the NFB, said: “Reform have…
Read MoreFoxtons Lettings Market Index – May 2024
An increase in property listings leads to a more balanced May Lettings market Applicant demand increased month-on-month, up 20% compared to April In May, the London market saw 36% more listings compared to April. In 2024 year to date, there was a 10% increase compared to 2023 Average rent was £577 in May 2024,…
Read MoreGDP figures shows the need for planning reform
Following GDP growth of 0.4% in March 2024, April has seen no growth and in key sectors, such as construction, output has again dropped. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said: “The NFB Manifesto, ‘Supporting Construction to Power Growth’, was written with the UK’s GDP struggles in mind. While growth…
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