Breaking News
Bradford and Bingley mortgage assets to be sold
The government announced yesterday that they have started the process selling £15.7bn worth of Bradford and Bingley mortgage assets. The sale of further mortgage assets that government holds from Bradford and Bingley has been launched by UK Asset Resolution Limited (UKAR), the Chancellor confirmed yesterday (25 October 2016). The Chancellor of the Exchequer, Philip Hammond…
Allen Walkey
Big Increase in supply of rental housing stock
Headlines to yesterdays press release from The Association of Residential Letting Agents (ARLA) reads ‘Supply Of Rental Housing Has Increased To An 18 Month High’ David Cox, Managing Director, Association of Residential Letting Agents (ARLA), said: “This month’s findings paint a really positive picture for renters. Although demand is rising, we’ve seen this happen gradually…
Allen Walkey
Housing is Londoners biggest concern
The Mayor of London, Sadiq Khan, yesterday outlined his plans to create a better city for all Londoners, where no community is left behind and where everyone has the opportunities they need to fulfil their potential. Published yesterday the press release headlines , The Mayor plans to create ‘A City for all Londoners’, the document is the first step towards the creation…
Allen Walkey
TPO and CTSI launch joint letting fees campaign
National campaign kicks off in Swansea and Dorset to improve industry compliance and raise awareness among consumers so more landlords and tenants ask about fees when they shop for an agent. The Property Ombudsman Scheme (TPO) has launched a new national campaign with the Chartered Trading Standards Institute (CTSI) to tackle lettings agents that are…
Christopher Walkey
Homes in UK smallest in Europe
An interesting article in the Guardian this morning, headlined ‘Rise in sale of smaller beds and sofas down to space saving, says experts’ They highlight the fact that sales of narrower beds and sofas are on the rise, reflecting the growing number of people in Britain squeezing into smaller living spaces, according to new figures….
Allen Walkey
From the football pitch to building homes
Rio Ferdinand’s career as a footballer for West Ham, Man Utd and England, is probably as good as you can get, I would say that having been a life long supporter of West Ham and a visitor to Upton Park on a number of occassions. He has now become involved in building homes, along with…
Allen Walkey
London house price growth slows rapidly
Hometrack UK Cities House Price Index September 2016 headlined ‘London records lowest quarterly growth for 20 months’ In the report they highlight that: City level house price growth is running at 8.5% but growth in London has slowed rapidly in the last quarter to the lowest level of quarterly growth for 20 months. Eleven cities…
Allen Walkey
Decrease in number of residential property transactions
Monthly property transactions completed in the UK with value of £40,000 or above for September 2016 released today from HM Revenue and Customs. The provisional seasonally adjusted UK property transaction count for September 2016 was 93,130 residential and 9,670 non-residential transactions. Residential transactions. The seasonally adjusted estimate of the number of residential property transactions decreased…
Allen Walkey
French property market looking strong.
Complete France the French Property publication this week published their French property market update: October 2016. In the report they say that The French property market is looking strong with transactions up 15%, prices stable and no noticeable impact from Brexit. According to the latest official report from the Notaires of France: The French property…
Allen Walkey
DRAGHI’S COMMENTS WEAKENS EURO
The pound sterling got somewhat of a reprieve following heavy falls over the last week or two against the Euro, this came following comments from Mario Draghi the European Central Bank President speaking after the governing council meeting in Frankfurt. Draghi appears to be hinting at more stimulus, according to reports he effectively said that…
Allen Walkey
Mortgage lending in september down on previous month
The Council of Mortgage Lenders (CML) yesterday published their market commentary which headlined ‘Gross mortgage lending £20.5 billion in September’. In the news release the CML estimates that gross mortgage lending reached £20.5 billion in September. This is 7% lower than August’s lending total of £22.1 billion, and 2% higher than the £20.1 billion lent…
Allen Walkey
CML responds to FCA announcement
The Council of Mortgage Lenders (CML) this week responded to the FCA’s announcement of a consultation on a potential framework for remediation to address past arrears calculation methodology problems. To read the news release from the CML in full click here Paul Smee, CML director general, says: “Those lenders who used the arrears calculation methodology…
Allen Walkey
House prices flat in September
Earlier this week LSL Property Services/Acadata released their House Price Index (HPI) for England and Wales headlined ‘Moving Towards a Normal’. House prices edged up by the narrowest of margins in September, with the average price rising £120 over the month to £292,763. Prices in England and Wales are now 3.5% up on last year,…
Allen Walkey
440,000 LANDLORDS TO BE FORCED UP A TAX BRACKET FROM APRIL 2017
More than four hundred-thousand landlords (22 per cent)* who pay the basic rate of tax will be forced into a higher tax bracket from April next year (2017) as planned changes to landlord taxation come in to force. The changes, once fully phased in by 2021, will mean landlords will no longer be able to…
Christopher Walkey
Foxtons reports drop in quarterly sales.
Foxtons reported a drop in quarterly sales in their trading update released today, amid weakness in the London market. In its trading update for the quarter ended 30 September 2016 it states: Sales revenue in Q3 was £12.2m (2015: £18.5m) reflecting a continuation of reduced activity in the London property sales market. Lettings revenue, whilst also reflecting lower levels of new tenant activity,…
Allen Walkey