Posts by EAN Breaking News
Mortgage completions surged 50 per cent in March amid race to avoid higher stamp duty
March saw highest volume of mortgage completions recorded since September 2021 Homebuyers report now needing an additional £13,530 on top of the property price to cover taxes and fees Three in four have seen housing costs rise, up £126 on average per month Renters’ confidence in their ability to purchase a property within five years…
Read MoreFoxtons Lettings Market Index – March 2025
London rental market gains momentum as new rental listings surge, Foxtons data shows March saw a 14% increase in new rental listings across London compared to February Applicant registrations rose by 11% month-on-month in March. Year on year, demand was stable, tracking just 2% below March 2024 levels The average rent in March stood…
Read MoreUK’s mid-market firms show improved business growth in March but economic uncertainty continues
Key findings: NatWest’s Mid-market Growth Tracker shows improved business growth in March, led by a strong service sector performance SMEs register a softer decline in output levels during March Market conditions remain challenging and we could see continued challenges in the coming months Mid-market businesses continued to outperform the wider UK economy in March,…
Read MoreONS Private rent and house prices UK – April 2025
The Price Index of Private Rents (PIPR) measures private rent inflation for new and existing tenancies. The UK House Price Index measures house price inflation. Main Headlines Average UK monthly private rents increased by 7.7%, to £1,332, in the 12 months to March 2025 (provisional estimate); this annual growth rate is down from 8.1% in…
Read MoreRental Reform Plans Need Urgent Changes To Work
Ministers must back pragmatic changes to their rental reform plans to stand any chance of working. That’s the warning from the National Residential Landlords Association (NRLA) as the House of Lords prepares to start detailed scrutiny of the Renters’ Rights Bill next week. Whilst the core of the Bill is ending Section 21, ‘no explanation’…
Read MoreHalifax House Price Index – Average UK house price falls in March
• House prices fall by -0.5% in March (vs -0.2% in February) • Average property price now £296,699 (compared to £298,274 in previous month) • Annual rate of growth remains at +2.8%, unchanged from February • Northern Ireland sees house prices rise at fastest pace (+6.6%) Amanda Bryden, Head of Mortgages, Halifax, said: “UK house…
Read MoreMajority of Tenants Unsure How Changes Will Affect Them, Says LRG
With major changes to the private rental sector on the horizon, 62% of tenants say they don’t know whether the government’s Renters’ Rights Bill will address their concerns – highlighting a growing need for clearer communication around what the reforms will mean in practice. LRG’s latest Lettings Report shows that while landlords are widely aware…
Read MoreRenters’ Rights Bill Delay Causing Uncertainty for Tenants and Landlords
Ministers need to tell landlords and tenants when measures in the Renters’ Rights Bill will take effect the National Residential Landlords Association (NRLA) is today warning. The Government pledged last year to abolish Section 21 ‘no explanation’ repossessions and to make other changes to the rental market this summer. With the Bill not scheduled to…
Read MoreNationwide HPI – Annual house price growth steady in March
Annual rate of house price growth remained stable in March at 3.9%, unchanged from February Northern Ireland remained the top performing area, with annual price growth accelerating to 13.5% London weakest performing region, with 1.9% year-on-year rise Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “UK house price growth remained stable in March…
Read MoreTenants and landlords must be aware of new electrical safety standards in Northern Ireland
Propertymark has urged tenants and landlords in Northern Ireland to be aware of new electrical safety standards that begin on 1 April 2025. On 19 November 2024, the new regulations were approved by the Northern Ireland Assembly in response to a public consultation throughout September 2023. From 1 April 2025, the regulations introduce the responsibility for…
Read MoreEnd to rent adjudication measures in Scotland
Letting agents across Scotland will welcome the news that the temporary rent adjudication measures end on 31 March 2025. The Cost of Living (Tenant Protection) (Scotland) Act 2022, which temporarily protected tenants by controlling rent, limiting evictions, and setting up rent review measures, ended on 31 March 2024. However, some of these measures were extended…
Read MorePropertymark 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%…
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