Breaking News
Record half year performance from Chestertons’ Lettings division
Chestertons has today announced record lettings results for the first half of 2018, as growth in market share and increased productivity helped boost profits by 62% against the same point last year. Despite the number of available rental properties being 10% lower than 2017, consistent with reduced supply across the lettings market, demand from tenants…
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Over 85,000 sales received for registration in June 2018 according to HM Land Registry
Latest HM Land Registry Price Paid Data for June 2018 published in July 2018. June 2018 – Price Paid Data includes details of more than 85,000 sales of land and property in England and Wales that HM Land Registry received for registration in the month. Of the 85,493 sales received for registration in June 2018:…
Allen Walkey
Private rental prices paid by tenants in GB increased by 1% in year to June 2018 according to ONS
The latest Index of Private Housing Rental Prices, Great Britain – June 2018 released by Office for National Statistics (ONS) July 2018. An experimental price index tracking the prices paid for renting property from private landlords in Great Britain. Private rental prices paid by tenants in Great Britain rose by 1.0% in the 12 months…
Allen Walkey
London leads asking rent annual rise for first time since 2014
-Asking rents in Greater London increased to an average of £2,000 per month in Q2 2018, making it the region with the highest annual rate for the first time since Q4 2014 -The rebound is fuelled by a lack of new property choice for renters in London (down 3.5% on the same quarter last…
Rightmove
OnTheMarket announces over 10,000 agent branches now contracted
OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, today announces that, as of 24 July, it has signed listing agreements with UK estate and letting agents with more than 10,000 offices as momentum continues to build in support of the portal. The announcement states: This increase of over 4,500 branches since Admission…
Allen Walkey
Growth in mortgage lending continues to be driven by remortgaging according to UK Finance
UK Finance latest Household Finance Update – June 2018 reveals that estimated gross mortgage lending for the total market in June is £23.5bn, 2.1 per cent higher than a year earlier. The number of mortgage approvals by the main high street banks in June fell by 2.1 per cent compared to the same month a…
Allen Walkey
John Cleese’s ‘Don’t mention the War / Brexit!’
How Brexit has broken up many friendships, marriages, divided families and much, much more… Let’s face it, for a majority of us it is either Leave or Remain and there is no middle ground! Anyway, if an ounce of democracy still exists here in the UK then records will show that Leave won and that…
Christopher Walkey
Revised NPPF shows the Government lacks ambition to tackle housing crisis
The National Federation of Builders (NFB) regrets the Government rolling back on several of its more radical approaches, which were laid out in the draft proposal of the National Planning Policy Framework (NPPF). The Government has published the revised NPPF, which replaces the previous framework from 2012. However, the inclusion of social rent and starter…
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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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