Breaking News
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
Shelter’s comment on DCLG leasehold consultation
Shelter’s comment on DCLG leasehold consultation (25.07.2017) Anne Baxendale, Shelter’s director of communicaitons, policy and campaigns, said: “Our housebuilding system is failing families all over the country, many of whom are being stuck with ever increasing charges on expensive, and often second-rate, new homes. “While the leasehold system can help make sure new homes are…
Allen Walkey
Government proposes changes to unfair leasehold and ground rent agreements
Announcement 25th July 2017 from Department for Communities and Local Government and Sajid Javid MP headlines ‘Crackdown on Unfair Leashold Practices’. Radical new proposals to cut out unfair abuses of leasehold have been announced by the government in a major move that will deliver a fairer, more transparent system for homebuyers. Leaseholds on new-build houses…
Allen Walkey
Demand rose while supply of available housing dropped in June according to naea / propertymark
naea / propertymark latest Monthly UK Housing Report – June 2017. Demand rose while the supply of available housing dropped in June. The number of properties sold to first-time buyers increased. Only two per cent of properties sold for more than the original asking price. Mark Hayward said: “In May, we saw a period of…
Allen Walkey
The remortgaging market both for residential and buy-to-let remains steady says MAB
Mortgage Advice Bureau (Holdings) plc today 25th July 2017 released its Pre-close Trading Update for the six months ended 30 June 2017, ahead of publishing its interim results announcement on Tuesday, 26 September 2017. Revenue for the six months ended 30 June 2017 increased by 15% to £49 million driven by a 14% increase in the average…
Allen Walkey
SME construction sector continues to grow albeit at a slower rate says FMB
Newsroom release published 24th July 2017 by Federation of Master Builders (FMB) headlined ‘Growth Slows For Construction SMES’. The SME construction sector grew in the second quarter of 2017, albeit at a slower rate in most parts of the UK than the first three months of the year, according to the Federation of Master Builders…
Allen Walkey
Just 10 days to go to next #PropTechDen… 3rd August 2017 6pm – 10pm.
Just 10 days to go to next #PropTechDen… 3rd August 2017 6pm – 10pm. Following on from the success of #PropTechDen April 2017 we are now pleased to tell everyone that these great networking and proptech themed events will take place every two months starting from August 2017. We are pleased to host these free…
Allen Walkey
HM Land Registry completed more than 1,690,200 applications in June.
Transaction data for June 2017 published 21st July 2017 by HM Land Registry. The data provides information about the number and types of applications that HM Land Registry completed in June 2017. In June: HM Land Registry completed more than 1,690,200 applications. The South East topped the table of regional applications with 394,377. Birmingham topped the…
Allen Walkey
City house price growth is slower than a year ago according to Hometrack
The latest Hometrack UK Cities House Price Index report June 2017, released today reveals: City house price growth is slower than a year ago but average prices increased 3.5% in last 3 months. City house price inflation expected to be 6-7% over 2017, higher than 4% projection made in December 2016. This is down to…
Allen Walkey
It’s positive that lending to first time buyers has continued to increase throughout 2017 comments Richard Sexton
Comment from Richard Sexton, director at e.surv, following the latest CML monthly lending figures. “It’s positive that lending to first time buyers has continued to increase throughout 2017. We’re seeing similar trends in our Mortgage Monitor data and believe this is largely due to record low mortgage rates on offer as well as the increased…
Allen Walkey