Breaking News
UK annual house price growth ends 2016 same as for 2015 at 4.5%
The Nationwide today released their House Price Index report for December headlined ‘Annual price growth stable as 2016 draws to a close’ UK annual house price growth ended 2016 at 4.5%, the same as 2015, up slightly from 4.4% in November. Price growth in London ended the year below UK average for first time in…
Allen Walkey
Mortgage approvals down in November says BBA
The British Bankers Association (BBA) press release wednesday 28th December, headlined ‘November 2016 figures for the high street banks’. Gross mortgage borrowing of £12.2bn in the month was 5% lower than in November 2015, while net mortgage borrowing is 2.4% higher than a year ago. House purchase approval numbers fell 9% in November 2015 and…
Allen Walkey
Bovis expect volume delivery for 2016 will be lower than previously anticipated
Bovis Homes Group PLC today issues pre close update ahead of reporting its final results for the year ending 31 December 2016 on Monday 20 February 2017. In the update, for 2016 they state that: We expect the volume delivery for 2016 will be lower than previously anticipated at between 3,950 and 4,000 homes, the exact number depending…
Allen Walkey
Help to Buy Mortgage Guarantee Scheme ends 31st December 2016
The Help to Buy Mortgage Guarantee Scheme introduced by the government to assist those with only a small deposit will end on the 31st December this year, the Help to Buy ISA and the Equity Loan Scheme will however remain in place. According to a news article published yesterday on Zoopla, the Government’s Help to…
Allen Walkey
Deal on mortgages for Armed Forces
Recent announcement published 26th December 2016 from Ministry of Defence and Mark Lancaster TD MP on Gov.uk website headlined ‘Boxing Day deal on mortgages for Armed Forces’. Personnel redeployed within the UK will now be able to rent out their homes without facing higher costs or having to change their mortgage. Defence Minister Mark Lancaster…
Allen Walkey
Pre-fabricated homes will help meet the demand for affordable rented housing
China National Building Material Company (CNBM) has become the latest player to be involved in helping to resolve the UK housing crisis, they will be involved in a joint venture with a leading UK housing association, Your Housing Group (YHG) and a renewable energy supplier, Welink, their plan is to build six prefabricated home factories…
Allen Walkey
Rents increased in all the English regions for year to November 2016
Office for National Statistics (ONS) yesterday released Statistical Bulletin: Index of private housing rental prices in Great Britain;: Nov 2016. Their Main finding were: Private rental prices paid by tenants in Great Britain rose by 2.3% in the 12 months to November 2016; this is unchanged compared with the year to October 2016. Private rental…
Allen Walkey
Number of sales agreed in November dropped says NAEA
Press release and November Housing Market report today from NAEA headlined ‘Record number of properties sold at less than asking price’ They state: Both demand for properties and supply of available stock fell in November, the number of sales agreed also dropped. Mark Hayward, Managing Director, National Association of Estate Agents (NAEA) comments on the…
Allen Walkey
Rent increases continue to decrease in November says ARLA
Press release including November Private Rental Sector (PRS) report from ARLA on Monday 19th December headlined ‘Eight in ten letting agents expect rents to rise next year’ The report leads by stating: In November, the number of tenants experiencing rent increases continued to decrease, at 16%, a decrease from 18% cent in October. David Cox,…
Allen Walkey
Young homeowner numbers plummets by more than half in 20yrs
New research by Savills for the Local Government Association (LGA) reveals that 46% of all 25-year-olds owned their home 20 years ago. In a generational shift, only 20% of 25-year-olds are on the housing ladder today, average house prices are now at 7.9 times average earnings, with the need for a high deposit creating an…
Allen Walkey
RICS publish their Housing Forecast for 2017
News release from the Royal Institution of Chartered Surveyors (RICS) published today headlines ‘UK house prices to increase by 3% in 2017’. According to the RICS housing forecast for 2017, house prices in the UK will see an average increase of 3% over the course of next year as the number of transactions stabilises. Simon…
Allen Walkey
CML publish their annual review
The Council of Mortgage lenders (CML) recently published its annual member review, reporting on a busy year representing the interests of 136 firms that advance and administer 97% of the UK’s mortgages. Their report started: In a politically turbulent year, the mortgage market was open for business, and lenders remained well funded and capitalised. Lending…
Allen Walkey
Slow down in new Estate Agents in London
It has been a very busy 2016 with fairly substantial pieces of news to effect the UK Property industry with Brexit, President Elect Donald Trump and of course the recent ban on letting fees to tenants (remember that Foxton’s shares plummeted 13% in one hour following the ban on fees). So is it no surprise that we…
Christopher Walkey
Monetary Policy Committee decision on Thursday
The Monetary Policy Committee voted unanimously on Thursday to leave interest rates at 0.25% and asset purchases at £435bn, this was a decision very much expected by analysts. The Bank of England (BoE) reiterated that it was ready to tighten or loosen policy if needed to respond to any changes in the economic outlook as…
Allen Walkey
Help to Buy scheme helps over 220,000 people
Announcement published Thursday 15th December 2016 on the Gov.UK website headlined ‘Help to Buy helps over 220,000 people buy a new home’. The latest Help to Buy statistics released yesterday show that over 220,000 people have been able to buy a home using the government’s Help to Buy products. Over 220,000 completions have taken place…
Allen Walkey