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An increase in total gross advances by 3.3% to £62.4 billion compared to last year according to BoE report.
Bank of England (BoE) – Mortgage Lenders and Administrators Statistics -2018 Q1 published 12th June 2018. Compared to last year, there has been an increase in total gross advances by 3.3% to £62.4 billion. Comparing gross advances to Q4 2017 however, there has been a decrease of 9.6%. The value of new commitments was £61.1…
Allen Walkey
Supply is up on last year and properties spending longer on the market overall according to Home.co.uk
Latest Home.co.uk Asking Price Index report – June 2018 headlines ‘Oversupply and overpricing threaten to stall market.’ The report reveals: Overall, supply of property for sale in the UK is up by 11% and the total stock for sale has increased by 8.5% year-on-year. In June 2017 the annualised rate of increase of home prices…
Allen Walkey
Living near a local supermarket can push your property value up by £21,500 according to Lloyds Bank.
New research from Lloyds Bank has found that living near a local supermarket can push up your property’s value by £21,500 compared to homes in nearby areas without a supermarket chain. Lloyds Bank reveals that the Waitrose factor as strong as ever but M&S attracts the largest rise in premiums. Homes near to budget supermarkets…
Allen Walkey
The number of people renting second homes has reached a record high according to Hamptons International
Hamptons International Monthly Lettings Index – May 2018 reveals the number of properties rented as a second home in Great Britain reached 13,680 last year, the highest number on record. The Hamptons International Lettings Index (formerly the Countrywide Lettings Index) reported that the number of rental properties used as a second home has been steadily…
Allen Walkey
Over 1 million households in need of a social home are stuck on long waiting lists according to Shelter
One year on from the tragic Grenfell fire and many survivors are still waiting for a new home but new analysis from Shelter reveals the situation is similarly stark right across the country. Over 1 million households in need of a social home are stuck on long waiting lists, often for years on end. Yet…
Allen Walkey
House prices rise 1.5% in May according to Halifax
Latest Halifax House Price Index – May 2018 headlines ‘Annual House Price Growth Softens to 1.9% in May.’ Halifax revealed that on a quarterly basis, house prices were up just 0.2% in the three months from April to May compared to the previous quarter. Annual inflation rate stood at 1.9%. On a monthly basis, prices…
Allen Walkey
The million pound plus market is most active in Cambridge reveals Rightmove
New analysis by the UK’s number one property website Rightmove reveals that the million pound plus market is most active in Cambridge, with homes on the market for £1 million or more selling twice as fast as the national average. The national average time to agree a sale to a buyer in this price bracket…
Allen Walkey
High Court agrees to allow a judicial review of the Government’s Right to Rent policy
Following the decision of the High Court yesterday 6th June 2018 to allow a judicial review of the Government’s Right to Rent policy, David Smith, Policy Director for the Residential Landlords Association, commented: “Landlords will welcome the High Court decision to allow a judicial review of the Right to Rent policy which has put them…
Allen Walkey
Average monthly rent across UK for May 2018 now stands at £919 according to Homelet
Latest Homelet Rental Index – May 2018 report reveals that average rents across the UK rose by 2.0% in May 2018 when compared to the same month a year previously. The average monthly rent now stands at £919. When London is excluded, the average UK rental value was £763 in May 2018, this is up…
Allen Walkey
CIH Scotland responds to the government when reviewing the landlord registration application
In its response to the Government, the Chartered Institute of Housing Scotland has called for all landlords to make clear they are complying with all of their legal obligations when applying to the landlord register and for meaningful enforcement when standards are not being met. Ashley Campbell, CIH Scotland’s policy and practice manager said: “Reviewing…
Allen Walkey
RLA supports legal review of Right to Rent scheme
The Residential Landlords Association (RLA) announces in a press release their support for judicial reveiw of the Right to Rent scheme. Under the Right to Rent Scheme, landlords are responsible for checking the immigration status of their tenants with the prospect of prosecution if they know or have “reasonable cause to believe” that the property…
Allen Walkey
A rise in the number of Landlords selling up in April according to ARLA
Latest ARLA Private Rented Sector report – April 2018 reveals letting agents saw the highest number of landlords selling their buy-to-let (BTL) properties since records began in 2015. ARLA reports that in April the number of landlords exiting the market rose to an average of five per branch, up from four in March. In March,…
Allen Walkey
Proposed changes to dividend tax could impact limited company buy to lets
Proposals from the Office for Tax Simplification (OTS) could increase the amount of dividend tax paid by landlords who operate their buy to let property businesses in limited companies. Andrew Turner, chief executive at specialist broker Commercial Trust Limited, looks at how these suggested changes might affect some buy to let landlords. In recommendations that…
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Landlords in Scotland continue to earn strong returns according to Your Move
Latest Your Move Scotland – Rental Tracker – May 2018 report – April 2018 data headlines ‘Scottish rental market continues stable performance’. The report reveals that Landlords continue to earn strong returns, average rent increases of 0.2% in the last year. Edinburgh and Lothian has highest rents in Scotland with capital city rent averages £672…
Allen Walkey
UK annual house price growth slowed modestly in May according to Nationwide
Latest Nationwide House Price Index report – May 2018 released today headlines ‘Modest slowing in annual house price growth during May.’ The report reveals that annual house price growth slowed to 2.4% as prices fell 0.2% month-on-month. Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “UK annual house price growth slowed modestly in…
Allen Walkey