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RLA calls for a review of the UK Government’s Right to Rent scheme
The Residential Landlords Association (RLA) has called for a review of the UK Government’s Right to Rent scheme asking for a full review of the scheme’s impact on tenants. The RLA has revealed that over 40 per cent of landlords across England and Wales are wary of renting to those without a British passport. The…
Allen Walkey
Rising interest rates is causing fixed rate products to grow in popularity according to Paragon Mortgages
Latest press release from Paragon Mortgages headlined ‘Longer-term fixes reach record high.’ Paragon Mortgages latest Financial Advisors Confidence Tracking (FACT) Index report, based on interviews with 199 mortgage intermediaries, shows longer term fixed rate mortgages continue to grow in popularity with homeowners opting for five-year products to benefit from better rates. Paragon Mortgages reveals, the…
Allen Walkey
Bank of England announces Bank Rate remains at 0.5%
The Bank of England announced yesterday 14th December 2017 that at its meeting ending 13 December 2017, the MPC voted unanimously to maintain Bank Rate at 0.50%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £10 billion. The Committee…
Allen Walkey
North of England sees sharp rise in million pound house sales according to Lloyds Bank.
The latest house price data from Lloyds Bank today revealed that sales of million pound properties in northern England strongly outperformed many other parts of the country in the first six months of 2017. The report reveals that overall, there was a modest drop (-1%) in the number of properties sold for more than a…
Allen Walkey
Spike in UK rental market activity for November 2017 according to Agency Express
The latest Agency Express Property Activity Index report for November 2017 headlines ‘Spike in UK rental market November 2017 ‘. Their latest data reveals the national month on month figures for new listings ‘To Let’ sat at 12.6%, and following three consecutive months of decline figures for properties ‘Let’ climbed back to 2.8%. The report…
Allen Walkey
Marked differences in trends across the country according to RICS
Released today the RICS UK Residential Market Survey – November 2017 headlines ‘Activity remains subdued in UK housing market, with little improvement anticipated.’ The report reveals that: Respondents to the November 2017 UK Residential Market Survey suggest activity will continue to be impacted by the continued shortage of new instructions, alongside general economic uncertainty. Simon…
Allen Walkey
Number of loans for remortgaging have been at record levels over last year says UK Finance
Recent statistical report from UK Finance headlines ‘Remortgaging boost continued in October’ The report reveals that non-seasonally adjusted data released by UK Finance 12th October 2017 shows that the number and value of loans for remortgaging and for house purchases rose in October in comparison with a month ago and with the same period in…
Allen Walkey
UK business continues its rapid top line growth says Purplebricks CEO Michael Bruce
Purplebricks Group plc today released their interim results for the 6 months ended 31 October 2017. Group revenue up 150% to £46.8m. Impressive UK performance, raising average revenue per transaction 14%. Commenting on the results, Michael Bruce, Group CEO, said: “We have had a great first half, with strong trading, significant strategic progress and substantial…
Allen Walkey
Bank of England confirms an increase in new residential mortgage lending activity in Q3 2017 from the previous quarter.
Statistical release from The Bank of England published 12th December 2017. Mortgage Lenders and Administrators Statistics – 2017 Q3 reveals: There has been an increase in new residential mortgage lending activity in Q3 2017 from the previous quarter. £70.9 billion of new residential loans was advanced to individuals during Q3 2017. This was a 13.0%…
Allen Walkey
Countrywide reveals London still the accidental Landlord capital of the country
Latest Countrywide PLC Monthly Lettings Index report – Novemver 2017 headlines ‘Accidental landlords add 80,000 rented homes to the market’. In the report it states: The annual rate of rental growth picked up in November, with the cost of a new let across Great Britain rising 1.2% over the last 12 months or 1.6% outside…
Allen Walkey
London sees the lowest annual price rise.
UK House Price Index for October 2017 from HM Land Registry published today. The UK House Price Index (UK HPI) shows house price changes for England, Scotland, Wales and Northern Ireland. October 2017 data reveals: An annual price rise of 4.5%, which takes the average property value in the UK to £223,807. House prices have…
Allen Walkey
Numbers of new sales instructions jump 11% across the UK according to Home.co.uk
Latest Home.co.uk Asking Price Index report December 2017 released today headlines ‘Sales Supply Jumps as Rental Supply Falls.’ The headline section leads: The number of new sales instructions has jumped by 11% across the UK while the supply of rental properties has fallen by 16% (Nov 2017 vs. Nov 2016). The report reveals that the…
Allen Walkey
2018: A tale of different markets leads to Rightmove forecast of +1%
National average forecast of 1% growth in new seller asking prices in 2018 as the net result of upwards price pressures in some sectors and locations mitigated by negative price forces in others: Price growth in lower and middle sectors of the market set to continue in 2018, with Rightmove forecasting average growth of…
Rightmove
Housebuilder Berkeley Group announced a rise in pre tax profits
Last Friday 8th December 2017 The Berkeley Group Holdings plc announced its unaudited interim results for the six months ended 31 October 2017. The company posted a 36% rise in their pre-tax profits to £533.3m in the six months to 31 October, also revenue grew 14% to £1.6bn. The housebuilder upgraded its long-term forecast off…
Allen Walkey
Key conference brings experts together to speed up house building
Housing and Planning experts from the Essex Developers Group (EDG) and the South Essex Housing Group discussed how to fix the UK’s ‘broken market’ at a special conference. Developers, contractors, consultants, local housing companies, housing associations, Essex County Council and district and unitary authorities, descended on Orsett Hall in Thurrock, on 21 November, for the…
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