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Belvoir Lettings Plc announces the Group has performed well throughout the year
Belvoir Lettings PLC the UK’s largest property franchise, today released an update on the outcome of the financial year ended 31 December 2017 and the outlook for 2018. In the announcement it states: The Group has performed well throughout the year reflecting the continued underlying organic growth in franchise management service fee income, a record…
Allen Walkey
London Landlords cutting rents according to NLA
Latest news release 6th February 2018 from the National Landlords Association (NLA) reveals that London landlords are cutting rents. According to recent research by the NLA, one in five landlords (16 per cent) in outer London has reduced rents over the last year. The NLA state in their report: The research also shows that the…
Allen Walkey
Housing Implementation Taskforce discusses the progress Government is making and further actions needed to increase housing supply.
Prime Minister Theresa May yesterday 5th February 2018 chaired the inaugural meeting of the Housing Implementation Taskforce – a cross-government working group, to discuss the progress Government is making and further actions needed to increase housing supply. A Downing Street spokesperson said: “Today the Prime Minister chaired the first meeting of the Housing Implementation Taskforce at…
Allen Walkey
ASA upheld CIELA’s complaint against Purplebricks
In October of last year, the ASA upheld CIELA’s complaint against Purplebricks, finding that its “com-misery” advertisements breach the UK Code of Broadcast Advertising (BCAP) Code Rules 3.1, 3.2 and 3.33. It demanded that Purplebricks amend its advertisements to “ensure that when making a comparison to other fee models in their ads, they made it…
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RLA supports judicial review of Right to Rent scheme
The Residential Landlords Association (RLA) is supporting a judicial review of government immigration policy. The RLA is supporting a Judicial Review of the policy being sought by the Joint Council for the Welfare of Immigrants (JCWI). The JCWI argues that the policy discriminates against foreign nationals. The RLA is also supporting a similar case brought…
Allen Walkey
Countrywide PLC agrees ammendement to finance facilities.
Last Friday 2nd February 2018 Countrywide PLC put out the following statement: Countrywide plc, the UK’s largest integrated property services group announces that on 2 February 2018 the Company agreed an amendment letter relating to its term and revolving credit facility with its lender partners which provides the Company with the financial flexibility to invest…
Allen Walkey
Home affordability across UK cities is now at a ten-year low according to Lloyds Bank
News release today – Lloyds Bank’s Affordable Cities Review headlines ‘Affordability of city homes hits ten-year low’ Home affordability across UK cities is at its worst level since 2007, according to Lloyds Bank’s Affordable Cities Review, with house prices rising as a multiple of average annual earnings from 5.6 in 2012 to 7.0 in 2017. …
Allen Walkey
Annual house price growth picked up in January according to Nationwide.
Nationwide House Price Index report – January 2018 released today headlines ‘Unexpected pickup in annual price growth in January’ Annual house price growth accelerates to 3.2%, up from 2.6% the previous month according to Nationwide. Month-on-month pace of increase was steady at 0.6%, the same as the month of December 2017. Commenting on the figures,…
Allen Walkey
More than 150,000 of the most affordable rented homes have been lost across England in just 5 years according to the CIH.
New analysis from the Chartered Institute of Housing (CIH) reveals that more than 150,000 of the most affordable rented homes have been lost across England in just 5 years. CIH states: Based on current trends, CIH is projecting that 230,000 homes for social rent will have been lost between 2012 and 2020 – 158,642 council…
Allen Walkey
First Time Buyers take advantage of a quieter month in December says naea/propertymark
Latest naea/propertymark Housing Report – December 2017 headlines ‘First Time Buyers Capitalise on December Housing Slump’ The report found that the number of house hunters registered per estate agent branch fell by 20 per cent in December, and that in line with this, the rate of sales per branch also fell. First Time Buyers…
Allen Walkey
Interest-only mortgage holders at risk of losing their homes.
Recent press release from the Financial Conduct Authority (FCA) published 30th January 2018 headlines ‘FCA urges action on interest-only mortgages.’ Home owners with interest-only mortgages are being urged to contact their lenders to discuss their repayment options , the FCA found that many people have not talked to their lender on this matter. The City…
Allen Walkey
Mortgage approvals decreased in December according to Bank of England
Statistical release published today from Bank of England – Money and Credit: December 2017. Lending to Individuals. Mortgage approvals decreased in December, with falls for both house purchase and remortgaging approvals. House purchase approvals were the weakest since January 2015 and remortgaging approvals fell to 46,475, following strength in October and November. Read the statistical…
Allen Walkey
Weak house price growth in London offsets above average growth rates in large regional cities according to Hometrack
Latest UK Cities House Price Index report – December 2017 reveals: UK city house price inflation has slowed to 5.4% as weak house price growth in London offsets above average growth rates in large regional cities. The report states: ZPG listings data shows discounts to asking prices are narrowing, indicating market conditions are improving across…
Allen Walkey
Numbers of first-time buyers increase for 6th consecutive year according to latest halifax First-Time Buyer Review.
The latest Halifax First-Time Buyer Review released 27th January 2018 headlined ‘Number of first-time buyers highest since 2007 despite deposits doubling.’ The number of first-time buyers is estimated to have reached 359,000 in 2017, an increase for the sixth consecutive year, while those taking their first step on to the property ladder are putting down…
Allen Walkey
Building sector adopting modern methods of construction according to Lloyds bank
Housebuilders are investing in modern methods of construction and skills to address a number of industry challenges as it looks to deliver growth and new homes for the future, according to new research from Lloyds Bank Commercial Banking. The third annual Lloyds Bank housebuilding report which surveys housebuilders and their supply chain, analyses the state…
Allen Walkey