Posts by EAN Breaking News
Barclays: 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…
Read MoreFoxtons Lettings Market Index October 2024
Headlines October saw the highest level of new stock entering the market, with an 8% increase from last year, the highest increase in four years October’s demand is marginally lower than last October and decreased 32% from September, as expected during this time of year Following a yearly high of £593 per week this September,…
Read MoreFarmers protest outside Westminster today in anger at the IHT ongoing debate – expert legal view
With today’s news about farmers set to protest outside Westminster in anger at the IHT ongoing debate, Tom Gauterin, Director at national law firm Freeths, said: “Although it is good to hear Mr Reed last week suggest that the Government is listening to farmers, today’s protests would suggest otherwise with the extent of their concerns…
Read MoreNationwide House Price Index for October
Annual house price growth slows in October UK house prices rose 0.1% month on month in October Annual growth rate slowed to 2.4%, from 3.2% in September Headlines Oct-24 Sep-24 Monthly Index* 529.6 529.0 Monthly Change* 0.1% 0.6% Annual Change 2.4% 3.2% Average Price (not seasonally adjusted) £265,738 £266,094 * Seasonally adjusted figure (note that…
Read MoreAutumn Budget – Thoughts from the Industry
Following the Autumn Budget, here are some thoughts from the property industry. Chris Norris, Policy Director for the National Residential Landlords Association: “Whilst the Budget spoke about protecting vulnerable people, it failed to confirm what we now know – that housing benefit rates will be frozen as of next year. “It makes no sense…
Read MoreTenants Need a Budget That Boosts Housing Choices
Ahead of this week’s budget, the National Residential Landlords Association (NRLA) is publishing the below press briefing outlining the key challenges the Chancellor needs to address in the rental market. Boosting Tenant Choice Private sector tenants across the country are struggling as a result of the demand for rented homes massively outstripping supply. It is…
Read MoreHouse Price Index from Zoopla – 28th October 2024
2024 set to be a bumper year for housing sales with total value of homes in sales pipeline up 30 per cent to £113bn, reports Zoopla Rising incomes and the lowest mortgage rates for two years are supporting the highest level of new sales agreed since autumn 2020 UK house price growth has increased…
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