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Council advises tenant to break back into landlord’s property
It has been widely reported that in a bid to cope with Britain’s housing shortage, councils often advise tenants facing eviction, and in need of social housing, to stay put in buy-to-let properties when landlords ask them to leave. This is because, with resources already stretched, councils are reluctant to rehouse tenants until they are…
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One third of private renters are worried they will have to move home in the next year according to Generation Rent
One third of private renters are worried they will have to move home in the next year, according to a new Survation poll commissioned by Generation Rent. In a recent blog from Generation Rent posted by Dan Wilson Craw it mentions: ‘With home ownership unaffordable and council housing unavailable, private renters are living longer in…
Allen Walkey
Belvoir wins franchise of the year gold award
Belvoir Lettings plc the UK’s largest property franchise, has announced today that Belvoir was crowned Franchise/ Network of the Year a London property Awards. Commenting on Belvoir’s award win, the judges said: “Largest doesn’t always mean best, but this business supports its franchisees, developing offices and people, and building business so that they all reap the…
Allen Walkey
Average UK house price growth expected to slow over next 5 years says Savills
A recent research report from Savills the International Real Estate Adviser reveals that: Average UK house price growth is expected to slow to 14 per cent over the next five years, but there will be marked differences between and within regions. In their key numbers section they mention, 2018-2022 average UK house price growth forecast…
Allen Walkey
Housing Market to suffer with interest rate rise, Brexit looming and more… ?
“Inflation has been creeping up and The Bank of England’s Monetary Policy Committee has increased interest rates to 0.5% to compensate, despite the annual growth rate being at its weakest for four years. A 0.25% rise is not going to have a significant impact on the economy as a whole, but it will further depress…
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Bank of England announces increase in Bank Rate to 0.50%
Announcement from the Bank of England today: Bank Rate increased to 0.50%. At its meeting ending on 1 November 2017, the Monetary Policy Committee voted by a majority of 7-2 to increase Bank Rate by 0.25% to 0.50%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by…
Allen Walkey
Following recent public consultation the draft Tenants Fees Bill now published
The Department for Communities and Local Government yesterday 1st November 2017 published a Policy Paper ‘Draft Tenants Fees Bill’ The draft Tenant Fees Bill sets out the government’s approach to banning letting fees paid by tenants. The draft bill will make renting fairer and easier for tenants by allowing them to see upfront what a given…
Allen Walkey
House price growth picked up slightly in October according to Nationwide
The latest Nationwide House Price Index – October 2017 released today headlines ‘Slight pick up in annual house price growth in October.’ The report reveals that annual house price growth picks up to 2.5% which is up on previous month at 2.3%. Monthly change shows an increase of 0.2%, down from 0.4% in September. Commenting…
Allen Walkey
Estate agents would welcome changes to buying and selling process according to naea | propertymark
The latest Monthly UK Housing Report – September 2017 from naea|propertymark reveals that: In September, supply and demand for housing was up, but sales agreed remained flat, as eight in 10 estate agents argued that the home-buying process is outdated. Sales to first-time buyers (FTBs) remained the same as the previous two months, as well…
Allen Walkey
Mortgage approvals for house purchase fell slightly in September according to BoE
Bank of England (BoE) today released Money and Credit statistical report – September 2017. Lending to Individuals: Mortgage approvals for house purchase fell slightly to 66,232 in September, close to their recent average. The annual growth rate of consumer credit has remained broadly unchanged since June, at around 10%. The flow was £1.6 billion in September,…
Allen Walkey
Big savings if willing to commute just 30 mins into Edinburgh or Glasgow according to Bank of Scotland
Rail commuters to Scotland’s two biggest cities are typically financially better off catching the train into the city than living close to their place of work, according to new research by Bank of Scotland. House prices for homeowners living 30 minutes outside of Edinburgh are 36% lower (£86,371) on average, for those living 30 minutes…
Allen Walkey
Confidence drops to lowest for 5 years in UK house prices according to Halifax
Confidence in UK house prices has dropped to its lowest level since December 2012, according to the latest Halifax Housing Market data which reveales that the house price optimism balance dropped to 30 points in October, the index has fallen by 38 points since it peaked in May 2015. The Halifax survey which was conducted…
Allen Walkey
NHBC reports the highest number of new home registrations for 10 years in their third quarter report.
The NHBC reports the highest number of new home registrations for 10 years in their third quarter report. The NHBC reports that in the period July – September: The number of registrations was 37936, a 6% increase on last year (35,946). Of these: Private sector registrations in Q3 2017 increased by 9% (29,083), compared with…
Allen Walkey
Two of PropTech’s biggest names back Hystreet
Hystreet is pleased to announce the appointment of PropTech Consult Partners, and key PropTech influencers, James Dearsley and Eddie Holmes to their team. Both have invested in the business and taken up senior advisory roles. Dearsley and Holmes join the company as it prepares for a widespread release of its technology products which are designed to offer high street agents the tools they need to compete on a level playing field with online estate agents.
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Response from Shelter to the Prime Minister’s announcement that Local Housing Allowance rates will not apply to social housing.
Shelter’s response to the Prime Minister’s announcement that Local Housing Allowance rates will not apply to social housing. Polly Neate, CEO at Shelter said: “We warmly welcome the Prime Minister’s announcement that Local Housing Allowance rates will not apply to social rented homes but she shouldn’t stop there. “Although this is a welcome reprieve for…
Allen Walkey