Breaking News
July data reveals a growth slowdown in the UK construction sector
The PMI Construction released today by the Chartered Institute of Procurement and Supply and Market Economics shows that the pace of expansion in the construction industry slowed significantly in July. The construction sector purchasing managers’ index (PMI) slumped from a reading of 54.8 in June to only 51.9, according to IHS Markit. UK construction companies…
Allen Walkey
Government launches a £54 million package to transform local communities.
Announcement published 1st August 2017 on GOV.UK website headlines ‘Funding boost for local authorities to transform local communities.’ The government has launched a £54 million package to transform local communities and release land for thousands of new homes. The package comes as part of a new cross-government partnership to make smarter use of government-owned property. DCLG’s…
Allen Walkey
Research shows that over three quarters of mortgage advisers recommend private surveys
Latest research from TMA Mortgage Club, shows that over three quarters (76%) of advisers recommend taking out private surveys when purchasing or remortgaging a property. In the press release they state: The majority of advisers say that they recommend borrowers take out a private survey before buying as they offer a thorough analysis of a…
Allen Walkey
Taylor Wimpey announces trading in first half 2017 very positive.
Taylor Wimpey plc today announce their half year results for the period ended 2 July 2017. Group profit before tax of £205.0 million (H1 2016: £268.8 million). Completed a total of 6,580 homes, excluding joint ventures, an increase of 9.3% (H1 2016: 6,019). Pete Redfern, Chief Executive, commented: “Trading through the first half of 2017…
Allen Walkey
House Price growth remains broadly stable in July according to Nationwide HPI
Nationwide House Price Index (HPI) July report released today headlines ‘House price growth broadly stable in July.’ Annual house price growth in July was at 2.9%, slightly down on June at 3.1%. There was only a modest increase month on month at 0.3%. Commenting on the figures, Robert Gardner,Nationwide’s Chief Economist said: “The annual pace…
Allen Walkey
Mortgage market grew in June 2017 according to e.surv Mortgage Monitor
The latest Mortgage Monitor from e.surv reveals that the mortgage market grew in June but lending to small deposit borrowers shrank over the month. Their data shows that there were more mortgage approvals in June 2017 than previous month and June 2016, there were £65,887 loans approved in June, a total 1.4% higher than the…
Allen Walkey
HM Land Registry – 92,009 sales lodged for registration in June 2017 in England and Wales
June 2017 Price Paid Data published 28th July 2017 from HM Land Registry. HM Land Registry Price Paid Data tracks land and property sales in England and Wales submitted for registration. 92,009 sales lodged for registration in June 2017 in England and Wales, 67,772 were freehold, 9,595 were newly built, 29,901 sales took place in June…
Allen Walkey
Agents in Nottinghamshire, Liverpool and Bradford expelled from The Property Ombudsman scheme
Three agents have been expelled from membership of The Property Ombudsman (TPO) scheme for two or more years, after failing to pay awards made by the Ombudsman or comply with TPO’s Codes of Practice for Residential Estate Agents and Letting Agents. The decisions to expel Shields & Co (Nottinghamshire), LPC Lettings Limited (Liverpool) and Blackhorse…
EAN Content
Rightmove experiments with ‘Rent London’ Facebook Messenger bot and iOS app
Rightmove is testing out new ways for home hunters to interact when searching for a home to rent. An experimental Facebook Messenger bot has been created for people searching in London for a place to rent, and is available to anyone by searching for ‘Rent London’ within Facebook Messenger. Using Messenger’s conversational style interface, renters…
Rightmove
Revenue up, Profits up and Advertisers at all time high reports Rightmove
Rightmove today releases half year results for the six months ended 30 June 2017. Rightmove, the UK’s number one property site, has delivered another strong period of growth in the six months ended 30 June 2017. Revenue increased by 11% to £119.5m with underlying operating profit up 11% to £91.0m and operating profit up 9%…
Allen Walkey
Almost 100 retired homeowners took out equity release plans per day in the first half of 2017 according to Key Retirement
Retired homeowners cashed in £1.25 billion of property wealth in the first half of 2017 at a rate of £6.9 million a day, according to new analysis from leading over-55s finance specialist Key Retirement. The new record high for the equity release market means more property wealth was released in the first half of 2017…
Allen Walkey
Recent political turmoil has had little immediate impact on renters says Your Move
The latest Your Move England & Wales buy to let index June 2017 data shows that the general election result has had no immediate impact on retail prices. All regions saw rents rise or remain level month-on-month in June. Average rent across England and Wales stood at £827. The average rent across the two…
Allen Walkey
Countrywide says overall market for housing transactions in the UK was down 7% in the period
Countrywide PLC today announced Interim Results for the six months ended 30 June 2017. They stated; The overall market for housing transactions in the UK was down 7%. Our sales market share held broadly flat at 4.9% (2016: 5.1%) despite the effect of the on-going transformation of the business; we held or gained market share…
Allen Walkey
Profits fall at Foxtons following downturn in London property market
Foxtons Group PLC today announced interim results for the half year ended 30 JUNE 2017. Lettings revenue £32.1m down 2% versus prior year; Volumes up 1% with several growth initiatives underway, offset by fall in rental rates. Remains a resilient, recurring revenue stream. Sales revenue £22.2m down 29% in the half; mainly driven by the…
Allen Walkey
Paragon Group reports Buy-to-let lending reaches £1.0 billion for first nine months of the year
The Paragon Group of Companies, the parent company of Paragon Mortgages, yesterday 26th July 2017 released its Q3 trading update for the nine months to 30 June 2017. Buy-to-let lending reaches £1.0 billion for first nine months of the year Professional landlords and complex portfolios now 70% of mortgage applications PRA Phase 2 changes for…
Allen Walkey