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Bank of England announces Bank Rate remains at 0.5%
The Bank of England announced on the 21st June 2018 that Bank Rate remains at 0.5%. At its meeting ending on 20 June 2018, the MPC voted by a majority of 6-3 to maintain Bank Rate at 0.5%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by…
Allen Walkey
Government to review licensing and publishes guidance on HMO changes
The Government has announced that they are to conduct a review into licensing schemes, with a view to publishing their findings next year. They have also released guidance on the new HMO rules which will come into effect in October this year. David Cox, Chief Executive, ARLA Propertymark, commented: “Licensing doesn’t work, and it never…
Allen Walkey
NTSEAT LAUNCHES agent SuRVey INTO USE OF referral fees
National Trading Standards Estate Agency Team (NTSEAT), with the support of The Property Ombudsman and the Property Redress Scheme, have today launched a survey <https://secure.crtviewpoint.com/Online/Survey/36c5c07e-d321-4a6f-a5ca-bfd52f6bbc53> to assess the use of referral fees among estate agents. Following the published response to the Government’s Call for Evidence on home buying and selling (8th April 2018), Ministry of…
EAN Content
UK housing market remains resilient according to LSL/Acadata
Latest LSL Property Services/Acadata England & Wales House Price Index – May 2018 headlines ‘New builds bolster London’. Annual growth rates rise for first time in a year, however transactions down by 6% year-to-date according to HPI report. The report reveals that the UK housing market remained resilient showing a very slight rise in the…
Allen Walkey
The RLA responds to the National Audit Office’s report on the roll out of Universal Credit
The RLA responds to the National Audit Office’s report on the roll out of Universal Credit, David Smith, Policy Director for the Residential Landlords Association, commented: “Whilst it is clear that Universal Credit is here to stay, today’s report recognises the difficulties faced by tenants and landlords as a result of rent arrears. The RLA’s…
Allen Walkey
Dwindling stock in north drives prices to new national record
New record in asking price of newly-marketed property for third consecutive month as steady monthly increases continue, with a 0.4% (+£1,364) rise Spring market concludes with stronger number of sales agreed overall in May, just 2.0% down on May 2017, and up 5.4% on May 2016 However, market conditions vary significantly between the north…
Rightmove
Strong growth in remortgaging in April 2018 according to UK Finance
Latest UK Finance Mortgage Trends Update headlines ‘Remortgaging bounces back as borrowers put their house in order.’ UK Finance’s latest Mortgage Trends Update reveals there was strong growth in remortgaging in April 2018, with new homeowner mortgages up 36 per cent and buy-to-let remortgages up 32.4 per cent compared to the same month a year…
Allen Walkey
OnTheMarket achieve their latest milestone of 9,000 contracted offices just three weeks after reaching 8,500 offices
OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, announced on the 14th June 2018 that as of 13 June it has signed listing agreements with UK estate and letting agents with more than 9,000 offices. This increase of over 3,500 branches since Admission on 9 February represents growth of more than 63%….
Allen Walkey
UK Housing market saw a stable trend in new instructions in May according to RICS
Latest RICS Residential Market Survey report for May 2018 headlines ‘Residential sales flat in May.’ The survey has shown a few signs of life as houses start to come back on to the market, but overall activity has remained flat and is looking unlikely to gain any impetus in the near term. The report reveals…
Allen Walkey
UK average house prices have risen 1.2% since March 2018 according to HM Land Registry data
Latest UK House Price Index for April 2018 from HM Land Registry. The April data shows: On average, house prices have risen by 1.2% since March 2018. An annual price rise of 3.9%, which makes the average property in the UK valued at £226,906. In England, the April data shows on average, house prices have…
Allen Walkey
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