Breaking News
Housebuilder Bellway delivers record year
National Housebuilder Bellway announced yesterday, Tuesday 18 October 2016, its preliminary results for the year ended 31 July 2016. Post-Brexit performance by Bellway saw a record revenue of £2.2 billion, a 27% uplift on the previous year. Profit before tax surged 40 per cent to £500m as the group’s operating margin was boosted to 22…
Allen Walkey
Further Clamp downs on overcrowded housing
Press release published yesterday on the Gov.UK website, from the the Department for Communities and Local Government and Gavin Barwell MP headlined ‘New measures tackle overcrowded housing’ Minimum room sizes will apply to shared homes to help to clamp down on rogue landlords cramming tenants into unsafe and overcrowded homes, improving housing for thousands, Housing…
Allen Walkey
Higher rate stamp duty land tax to remain in Wales.
Following the technical consultation the Cabinet Secretary for Finance and Local Government has confirmed the higher rate stamp duty land tax for additional residential properties will continue to be levied in Wales when land transaction tax replaces stamp duty land tax in April 2018 The higher rate for additional residential properties – currently 3% over…
Allen Walkey
Rental growth slows across Britain
Countrywide PLC yesterday published their monthly lettings Index – September 2016. They state that rental growth has slowed across Britain over the last year, but price growth in Northern cities has remained at a similar rate to recent months. Rents are rising faster in Northern cities than those in the South, most Southern cities have…
Allen Walkey
North/South property sales divide.
Righmove released today their House Price Index (HPI) headlined ‘North/south sales divide in the Autumn market’. Price of property coming to market increases by 0.9% this month and sales agreed in September have recovered from summer lull. Different areas of the country and different sectors are experiencing contrasting market conditions, with a north/south divide currently…
Allen Walkey
Reference checks are top priority for landlords
A new report from Hunters now one of the UK’s largest independent estate agency chains with over 170 branches nationwide says, according to latest research, ensuring potential tenants have passed reference checks came in as the top priority for landlords when selecting an agent to let their property, speed of let and trained staff cited…
Allen Walkey
Construction output slowed in August
Statistical bulletin released last week by the Office for National Statistics (ONS) showed that construction output decreased by 1.5% in August, this is the second release of construction output covering data post-EU referendum. Following a revised increase in July 2016 of 0.5%, construction output decreased in August 2016 by 1.5%. They state you should note…
Allen Walkey
Cost of a brick in the wall of the average house
Research announced yesterday by Barclays Mortgages and the Centre for Economics and Business Research (Cebr) has found that the cost of a single brick, when calculated from the price and size of the average house in the UK, has increased 33% in the past decade. Their research found that the cost of a single brick,…
Allen Walkey
HomeLet Rental Index September
The most recently released HomeLet Rental Index (September) states that 2016 to date has seen a slower rate of rental growth, compared to the same period last year. The increase in average rental value is 3 per cent higher than the same period last year, standing at £910pcm compared previously to £884pcm. In comparison to…
Allen Walkey
Stock selection is key to rising success rates, says Auction House
The UK’s number one property auctioneer Auction House says that being selective about the stock it chooses to offer at auction is a key factor behind its rising success rates. The group recorded a September 2016 success rate of 75.4% – up on last September’s figure of 74.5%, despite a more challenging sales environment –…
Christopher Walkey
Landlords slow to register with Rent Smart Wales
With just 6 weeks to go before the deadline for Landlords to comply with the law in Wales, only just about 25% of Landlords are presently registered according to Welsh Government figures. The Rent Smart Wales scheme will require landlords to be trained in their responsibilities and obligations. Rent Smart Wales process landlord registrations and…
Allen Walkey
Latest RICS survey shows House prices rise in September
House prices in the UK rose for a second month in September, according to the latest survey from the Royal Institution of Chartered Surveyors (RICS), it shows its monthly house price index increased to +17 in September from +13 in August, The report mentions that more chartered surveyors are reporting an increase in buyer enquiries,…
Allen Walkey
Trading update from Telford Homes Plc
Telford Homes Plc released yesterday their trading update ahead of the interim results for the six months ended 30 September 2016, which will be released on Wednesday, 30 November 2016. Highlights lead with: Long term imbalance between the supply of homes and the demand for somewhere to live in non-prime areas of London underpins future prospects for Telford…
Allen Walkey
Investors return to the market says Rightmove
Rightmove, yesterday 12th October, published the Rental Trends Tracker for 3rd Qtr which headlined ‘Buy-to-let enquiries up 30% since May as investors return to the market’. The report mentions: Buyer enquiries from potential landlords and investors are now up 30 per cent since May, new rental listings up on the same quarter last year and…
Allen Walkey
Buy-to-Let lending down on August.
Press release published today from the Council of Mortgage Lenders (CML) headlines ‘August House Purchase Lending up 11% compared to a year ago.’ The news article leads: Home-owners borrowed £12.2bn for house purchase, up 14% month-on-month and 11% year-on-year. They took out 66,000 loans, up 13% on July and 9% on August 2015. Paul Smee, director general…
Allen Walkey