Breaking News
Theresa May’s Queen’s Speech
Today we finally get to hear in the form of the Queen’s Speech what Theresa May and her government plan for the future, it will reveal which laws they plan to introduce or change. The centre of the speech is expected to be dominated by Brexit, one of a number of bills will be the…
Allen Walkey
Gross mortgage lending overall in 2016 totalled £245 billion according to CML
Yesterday 20th June 2017 the Council of Mortgage Lenders (CML) published data showing mortgage lending by CML members in 2016. Gross lending overall in 2016 totalled £245 billion, up 11% on 2015, which was a slightly higher rate of market growth than the 9% seen in the preceding year. The 10 largest firms continue to…
Allen Walkey
The auction room this month saw significant activity from commercial bidders looking for investment opportunities says Savills
News release yesterday 19th June 2017 from Savills headlines ‘June sees jump in sales at Savills regional auction’. A packed room and competitive pricing saw over £2.6 million raised at the latest Savills regional auction in Nottingham, which took place at the city’s racecourse on Thursday 8th June 2017. Victor Ktori, head of office at…
Allen Walkey
Government statement regarding safety checks following the Grenfell Tower fire.
Announcement on Gov.UK website from Department for Communities and Local Government published 19th June 2017. Communities Secretary Sajid Javid statement regarding safety checks following the Grenfell Tower fire. Read in full. Communities Secretary Sajid Javid said: “We have asked local authorities and all providers of social housing to identify whether any buildings in their area contain…
Allen Walkey
Sales still strong, but prices fall in June for first time since 2009
The number of sales agreed at this time of year is the second highest for ten years, only slightly lower than the high of May 2014 However, spring price momentum stalls as price of property coming to market drops by 0.4% (-£1,172), the first fall in June since 2009 at the height of the credit…
Rightmove
Brexit negotiations formerly start today
Brext negotiations formerly start today June 19th at 11am in Brussels, the negotiations are talks between the European Union and United Kingdom representatives about Brexit terms. The process is expected to last up to 15 months and will conclude with the UK formally leaving the EU. It is almost a year since the UK voted…
Allen Walkey
Response from Shelter on the tragic Grenfell Tower fire
Response from Shelter on the tragic Grenfell Tower fire. Graeme Brown, Shelter’s interim chief executive said: “The Grenfell Tower fire was a truly tragic event, made all the more so because residents had been calling on their management organisation to heed their safety warnings. “In all cases, landlords must respond to renters concerns when it…
Allen Walkey
Help offered by Banks to Grenfell Tower Victims
The BBA published a news release yesterday headlined ‘Banks offer help to Grenfell Tower Victims’. To assist the circulation of this news release we have reposted the content below: The banking industry recognises that many of those who have lost their homes in the tragic fire at Grenfell Tower have also lost all access to…
Allen Walkey
Bank of England holds interest rate at 0.25%
The Bank of England’s Monetary Policy Committee (MPC) announced yesterday the result of their meeting 14th June. The MPC voted by a majority of 5-3 to maintain Bank Rate at 0.25%, the 5-3 vote by the Bank’s policymakers was the closest for a rate rise since 2007. Inflation is now well above the Bank’s target…
Allen Walkey
Fewer people choosing to move home according to Connells Survey and Valuation
The latest research from Connells Survey and Valuation shows that the number of valuations to sell have fallen steadily from 45% of the market in May 2010, down to just 27% in May 2017 as homeowners lack incentives to move. Research shows remortgaging now represents 23% of all valuations, representing a 2% increase month-on-month and…
Allen Walkey
Bellway is well positioned to deliver further volume growth
Bellway PLC issued a trading update yesterday 14th June in respect of the period from 1 February to 4 June 2017. Sales demand in the period was strong, with a 13% increase in the reservation rate to 221 per week (2016 – 196 per week). Ted Ayres, Chief Executive, commented: “Robust market conditions, together with…
Allen Walkey
California to be first launch state in ambitious US expansion.
Purplebricks Group plc announces that it will commence its ambitious United States expansion, identifying California as the first launch state, later this year. Commenting on the news, Purplebricks US CEO Eric Eckardt, said: “Purplebricks is launching in the US, with a distinct offering, which aims to offer a better deal for customers and a compelling…
Allen Walkey
Mortgage activity for April lower than previous month according to CML
The latest Council of Mortgage Lender (CML) data released yesterday 13th June headlined ‘Home buyer activity in April down on March but up on a year ago’. It reveals reveals house purchase activity decreased in April month-on-month but increased year-on-year. Remortgage activity and buy-to-let declined month-on-month. On a non seasonally adjusted basis home buyers borrowed…
Allen Walkey
UK House prices grew by 5.6% in the year to April 2017
The UK House Price Index (HPI) April 2017 published today. The UK House Price Index shows house price changes for England, Scotland, Wales and Northern Ireland. UK House prices grew by 5.6% in the year to April 2017, 1.1 percentage points higher than in the year to March 2017. Average property price now £220,094. England annual…
Allen Walkey
Prices in London are now sliding year on year says Home.co.uk
Latest Home.co.uk Asking Price Index released today 13th June headlines ‘Regions Prosper while London Home Prices Slide’. Asking prices rose by 0.4% across England and Wales over the last month, despite election uncertainty, the figure is 2.8% year-on-year. Figures reveal that Greater London prices slip by 0.1% this month making a year-on-year fall of 1.2%,…
Allen Walkey