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Increasing numbers of first-time buyers help build mortgage activity according to UK Finance
Latest UK Finance news – Update on lending – December 2017. UK Finance estimate gross mortgage lending in November was £23.1 billion, 9 per cent higher than a year earlier, with 60 per cent of all new lending provided by High Street banks. Commenting on the data, Managing Director of Commercial and Personal Finance Eric…
Allen Walkey
Most expensive streets in England and Wales revealed
Grosvenor Crescent, located in the heart of Belgravia, London, is the most expensive residential street in England and Wales, according to the latest research from Lloyds Bank. A typical property on Grosvenor Crescent will cost an average of £16,918,000. The second most expensive street is Ilchester Place in Holland Park, with an average house price…
Allen Walkey
Range of meaures to tackle unfair and unreasonable abuses of leasehold following DCLG consultation
Consultation outcome from Department for Communities and Local Government 21st December 2017. The full outcome of the consultation which closed 19th September 2017 ‘Tackling unfair practices in the leasehold market’ can be seen here. The consultation looks at a range of measures to tackle unfair and unreasonable abuses of leasehold; in particular the sale of…
Allen Walkey
Latest UK property transaction count for November 2017 from HMRC
Monthly property transactions completed in the UK with value of £40,000 or above published 21st December 2017 from HM Revenue and Customs – November 2017. The provisional seasonally adjusted UK property transaction count for November 2017 was 104,200 residential and 11,150 non-residential transactions. The seasonally adjusted estimate of the number of residential property transactions increased…
Allen Walkey
2017’s housing market: Sudbury highest price growth, sold fastest in Livingston & Bristol most searched for place
As 2017 comes to a close Rightmove has looked at the best performing local markets across Great Britain this year. Highest asking price growth Sudbury in Suffolk comes top this year for homes increasing in value the most, with the average asking price of a property rising by 13.1% from £234,569 to £265,291. That’s compared…
Rightmove
The National Landlords Association (NLA) has appointed a new Chairman, Adrian Jeakings.
The National Landlords Association (NLA) has appointed a new Chairman, Adrian Jeakings. Adrian replaces Carolyn Uphill, who has been Chairman since July 2013. As Chairman, Adrian says he is keen to continue to build the NLA’s voice and authority. “Carolyn has been a fantastic Chairman, and the growth of the NLA during her tenure has been…
Allen Walkey
Open Consultation ‘Domestic Private Rented Sector minimum level of energy efficiency.’
Open Consultation from the Department for Business, Energy & Industrial Strategy dated 19th December 2017 ‘Domestic Private Rented Sector minimum level of energy efficiency.’ Seeking views on amendments to The Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 for domestic properties. This consultation closes at 11:45pm on 13 March 2018 Seeking views on…
Allen Walkey
New Shelter report reveals the devastating impact of homelessness in the classroom
As schools break up for the Christmas holidays new Shelter report reveals the devastating impact of homelessness in the classroom A unique investigation by Shelter exploring how teachers view the impact of homelessness on children, reveals that many are struggling to cope with the growing levels of homelessness in their classrooms. In-depth interviews with primary…
Allen Walkey
Homelet reveals average rents rose 0.7% in UK in November.
Latest Homelet Rental Index report – November 2017 data reveals rents in the UK rose by 0.7% in November compared to the same month a year ago, the average monthly rent now stands at £904 a month, when London is excluded, the average UK rental value was £753 in November 2017. Homelet states: Rents in…
Allen Walkey
The rate of house price growth has accelerated over the last six months says Hometrack
The latest Hometrack UK Cities House Price Index – November 2017 reveals UK city house price inflation increases to 6.3%, up from 4.9% a year ago. The rate of house price growth has accelerated over the last six months with robust demand for housing in regional cities outside southern England says Hometrack. Hometrack state: Housing…
Allen Walkey
RLA calls for a review of the UK Government’s Right to Rent scheme
The Residential Landlords Association (RLA) has called for a review of the UK Government’s Right to Rent scheme asking for a full review of the scheme’s impact on tenants. The RLA has revealed that over 40 per cent of landlords across England and Wales are wary of renting to those without a British passport. The…
Allen Walkey
Rising interest rates is causing fixed rate products to grow in popularity according to Paragon Mortgages
Latest press release from Paragon Mortgages headlined ‘Longer-term fixes reach record high.’ Paragon Mortgages latest Financial Advisors Confidence Tracking (FACT) Index report, based on interviews with 199 mortgage intermediaries, shows longer term fixed rate mortgages continue to grow in popularity with homeowners opting for five-year products to benefit from better rates. Paragon Mortgages reveals, the…
Allen Walkey
Bank of England announces Bank Rate remains at 0.5%
The Bank of England announced yesterday 14th December 2017 that at its meeting ending 13 December 2017, the MPC voted unanimously to maintain Bank Rate at 0.50%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion. The Committee…
Allen Walkey
North of England sees sharp rise in million pound house sales according to Lloyds Bank.
The latest house price data from Lloyds Bank today revealed that sales of million pound properties in northern England strongly outperformed many other parts of the country in the first six months of 2017. The report reveals that overall, there was a modest drop (-1%) in the number of properties sold for more than a…
Allen Walkey
Spike in UK rental market activity for November 2017 according to Agency Express
The latest Agency Express Property Activity Index report for November 2017 headlines ‘Spike in UK rental market November 2017 ‘. Their latest data reveals the national month on month figures for new listings ‘To Let’ sat at 12.6%, and following three consecutive months of decline figures for properties ‘Let’ climbed back to 2.8%. The report…
Allen Walkey