Breaking News
Landlords now risk fines of up to £30,000 or Prosecution!
With just one week to go until a new licensing scheme comes into force to improve private rented property in Nottingham, landlords are being urged not to delay and apply for a licence now. The City Council scheme, known as Selective Licensing, starts on 1 August and covers an estimated 32,000 privately rented homes across…
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Discounts have stabilised in London and the adjacent commuter areas according to Hometrack
Latest Hometrack UK Cities House Price Index report – June 2018 published today reveals UK city house price inflation 4.6% year on year ranging from +7.6% to -2.8%. Manchester is registering the highest annual growth rate (7.4%), followed by Liverpool (7.2%), Birmingham (6.8%) and Leicester (6.5%) according to Hometrack. The report states: 3-month growth rate…
Allen Walkey
Residential property transactions decrease between May and June this year according to HMRC
Latest update of monthly property transactions completed in the UK with value of £40,000 or above published from HM Revenue and Customs 24th July 2018. HM Revenue and Customs – UK Property Transactions Count – June 2018. The provisional seasonally adjusted UK property transaction count for June 2018 was 96,340 residential and 9,710 non-residential transactions….
Allen Walkey
First-time buyers now driving housing activity according to Lloyds Bank Homemover review
The number of people moving home has dipped in the first half of the year and now account for only around half (49%) of the housing market – the first time homemover numbers have fallen behind first-time buyers since 1995, according to the latest Lloyds Bank Homemover Review. The Homemover review reveals that there were…
Allen Walkey
NFB: Rees-Mogg is right about the housing crisis
Jacob Rees-Mogg, MP for North East Somerset, told the Telegraph that “sclerotic planning laws” and “gummed up regulation” have contributed to the under-supply of homes and unsustainable house price growth. Rees-Mogg correctly argues that burdensome regulation and an inflexible planning process are condemning the housing market to undersupply and unaffordability. The National Federation of Builders…
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55% of families trapped in temporary accommodation are working
New research released by Shelter’s social housing commission shows 55% of families trapped in temporary accommodation are working. That’s equivalent to more than 33,000 families. This has increased by 73% since 2013. This story comes as the government is set to release a green paper on social housing next week. The trend in ‘working homelessness’…
Allen Walkey
NFB: Standardisation is a must for the construction industry
The Government has announced that the UK will undergo a massive improvement in electric charging point availability, after Parliament passed the Automatic and Electric Vehicles Act on 19 July 2018. The legislation will ensure universal compatibility of charging points with different vehicles, standardise how charging points are paid for, and set reliability standards. The National…
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The average UK monthly rent is now £924 according to Homelet
The latest Homelet Rental Index report – June 2018 reveals that average rents across the UK rose by 1.8% in June 2018 when compared to the same month a year previously, the average monthly rent is now £924. Rents in London increased by 4.7% in June 2018 than in the same month of 2017, the…
Allen Walkey
UK Finance publishes its annual largest mortgage lenders data for 2017
UK Finance has now published its annual largest mortgage lenders data for 2017, which you can find at UK Finance. In addition, they have published a short accompanying blog analysing the underlying trends revealed by the data, including the growth in lending by challenger and specialist lenders. Following the FCA’s Mortgage Market Study, this data shows a picture…
Allen Walkey
NFB and Built Environment Networking announce new partnership
The National Federation of Builders (NFB) and Built Environment Networking – the UK’s leading provider of construction and property networking events – are pleased to announce their new partnership which will allow the NFB to continue to help its members build prosperous businesses and create optimal conditions for the construction industry. The NFB represents small…
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Homes with a sea view attract a 29% price premium
-New analysis from Rightmove reveals homes with a sea view in seaside towns are up for sale for £68,000 or 29% more on average than those without -The highest price premium is in Felixstowe in Suffolk, where a sea view could attract a 57% premium or over £143,000 more -The national average asking price of…
Rightmove
Landlords back call by Parliamentary committee’s fire safety plans
News release from Residential Landlords Association (RLA) Landlords are welcoming a call by a Parliamentary committee for the Government to fund certain fire safety improvements in privately owned residential blocks. In its report responding to the Hackitt Review into building and fire safety, the Housing, Communities and Local Government Select Committee recommends that the Government…
Allen Walkey
Summer sellers need to work harder as prices stand still
New seller asking prices hit usual summer slowdown this month resulting in virtual price standstill (-0.1% or -£248) Number of properties coming to market jumps up by 8.6% compared to same month last year, but no corresponding increase in buyer numbers to soak up new seller influx (sales agreed holding steady at -0.2% compared to…
Rightmove
Modest house price growth in London for first time since January according to LSL.
Latest LSL Property Services/Acadata England & Wales House Price Index – June 2018 released July 2018 headlines ‘Average house price in England & Wales in June stood at £303,960’. The report reveals that average prices in England and Wales were slightly down in June, falling by 0.2% from May, although this is a smaller decline…
Allen Walkey
UK housing sales remain subdued according to RICS
Latest RICS UK Residential Market Survey published 12th July 2018 headlined ‘UK housing sales remain subdued as rent expectations continue to heat up’. The RICS survey reveals that: significantly, over the month, newly agreed sales have recorded the sixteenth successive month of continued decline, with 7% more respondents reporting a fall in agreed sales. The…
Allen Walkey