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The number of tenants looking for new homes fell in May according to ARLA Propertymark
The ARLA Propertymark Private Rented Sector Report – May 2018 headlines ‘Rental Stock Rise – And So Does The Bill For Tenants’. The report reveals that the number of rental properties letting agents managed increased by four per cent in May, the highest figure recorded this year. The percentage of tenants experiencing rent hikes rose…
Allen Walkey
Shelter’s response to the government’s proposals on longer tenancies.
Shelter’s response to the government’s proposals on longer tenancies. Polly Neate, chief executive of Shelter, said: “This is an important step forward. Losing a tenancy is the main driver of homelessness and also causes huge instability for renting families so everyone who rents will be very pleased to see a move towards longer tenancies. But…
Allen Walkey
Chestertons announces changes to its management team
Allan Collins appointed as Deputy Chairman of Chesterton Global Limited and Guy Gittins becomes Managing Director Following its successful expansion and growth in the UK, Chestertons has announced two changes to its management team to help lead the business into the next exciting stage of its development. Former CEO Allan Collins has stepped into the…
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Prices falling across 20 local authorities in London according to Hometrack
Latest Hometrack UK Cities House Price Index report – May 2018 reveals that house price inflation is at 4.6% year on year, with prices falling across 20 local authorities in London. House price growth across the London City index is now 0.4% over the last 12 months. Prices are falling in nominal terms by up…
Allen Walkey
RLA argues ministers need to scrap the new homes tax for landlords
A new report being published by the Residential Landlords Association’s (RLA) research exchange, PEARL, warns that the country faces a net loss of 133,000 homes for private rent over the next year. This follows Government figures showing that between March 2016 and March 2017 England saw a loss of 46,000 private rented homes. Ministers need…
Allen Walkey
Bank of Scotland launches mortgage gift site
Bank of Scotland is offering first-time buyers, home movers and those who switch from another lender £500 to spend on a new online Mortgage Gift site as part of its latest mortgage campaign. Graham Blair, mortgage director at Bank of Scotland, said: “We are always thinking of new ways to make life easier for our…
Allen Walkey
Shelter analysis of government released quarterly homelesness figures
Shelter analysis of government released quarterly homelessness figures headlined ‘Highest number of older people homeless in a decade’. New government figures on homelessness show: · In the last year, 2,520 people aged 60 and over were accepted as homeless – a staggering rise of 40% in the last five years, and the highest number for…
Allen Walkey
House price growth falls to slowest pace for 5 years according to Nationwide
Latest Nationwide House Price Index report – June 2018 released today headlines ‘Annual house price growth slows to a five-year low in June’. The Nationwide report reveals that most regions saw slowing in house price growth, UK annual house price growth softened to 2%. Prices were up 0.5% uing the month, after taking into account…
Allen Walkey
Complaints against Purplebricks upheld by ASA
Purplebricks has been ordered to change what is seen as misleading advertising on their website after a set of complaints against it were upheld by the Advertising Standards Authority (ASA). The ASA action required that the advertisement must not appear again in the form complained of. The ASA stated: We told Purplebricks Group plc to…
Allen Walkey
The May increase in mortgage approvals driven by strong growth in remortgaging according to UK Finance
Latest UK Finance Household Finance Update for May 2018 reveals that estimated gross mortgage lending for the total market in May was £22.2bn, 8.8 per cent higher than the same month a year earlier. Mortgage approvals by the main high street banks in May have also risen, increasing by 3 per cent compared to…
Allen Walkey
Demand from prospective buyer’s increases in April according to NAEA Propertymark.
Latest NAEA Propertymark Housing Report – April 2018 headlines ‘Housing Market Swings Back In The Favour Of Sellers’. The report reveals that demand from prospective buyers grew by nine per cent in April; on average, estate agents had 337 house-hunters registered per branch, compared to 308 in March. Mark Hayward, Chief Executive said: “Last month…
Allen Walkey
Halifax research reveals that average house prices in British seaside towns have increased by 21% in the past decade
Halifax research reveals that average house prices in British seaside towns have increased by 21% in the past decade – over £4,000 a year Sandbanks in Poole is Britain’s most expensive seaside town for the third year running, according to Halifax’s latest research. The second and third spots remain unchanged on last year with average…
Allen Walkey
Average UK asking price is £414,359, but the current sold price is just £226,906!
A very interesting article I read on the Emoov website as I enjoyed a very sunny English Summer afternoon in the garden made me think – Are we still valuing property here in the UK way above what they should be? Emoov explains: Our latest research has highlighted the current reality gap at each end…
Christopher Walkey
Exeter Estate & Letting Agent Expelled from TPO
Bower & Bower (B&B), a sales and lettings agent in Exeter, Devon, has been expelled from The Property Ombudsman (TPO) scheme. The Ombudsman supported two complaints relating to non-payment of rent to two landlords whose property B&B managed and the way the Agent dealt with deposits on the landlords’ behalf. In the first complaint, the…
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Coventry agent owing £8.5K to elderly couple is expelled from TPO
Buyers, sellers, tenants and landlords in Coventry are being warned that a local sales and letting agent has been expelled from The Property Ombudsman (TPO) scheme for failing to pay awards totalling £8,583.63. This means the firm, Lawrence Property Consultants Ltd (LPC), is not registered with a redress scheme, which is a requirement of every…
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