Breaking News
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
Gross lending for November 3% up on previous month
The Council of Mortgage Lenders (CML) yesterday published new housing market forecasts. Market commentary: 2017 and 2018 forecasts Reported gross lending of £21 billion in November, that is up by an estimated 3% on October, and 3% up on a year ago. Commenting on market conditions and prospects, CML director general Paul Smee said: “Overall, the…
Allen Walkey
Hunters reports that strong performance continues
Hunters Property PLC, one of the UK’s largest National sales and lettings agency and franchise businesses, yesterday published their latest trading update. The trading update began: The strong performance that we reported at the time of our interim results in September has continued in the second half of the year, despite the well-publicised uncertainty in…
Allen Walkey
Drop in loans to home buyers in October
Council of Mortgage Lenders (CML) press release published yesterday 14th December headlined ‘8% fall in loans to home-buyers in October’ The news release leads: Home-owners borrowed £10.5bn for house purchase, down 8% month-on-month and 11% year-on-year. They took out 57,800 loans, down 8% on September and 13% on October 2015. more… Paul Smee, director general of…
Allen Walkey
Interest rates remain at 0.25%
BREAKING NEWS: The Bank of England keeps interest rates on hold at a record low of 0.25%.
Allen Walkey
UK House prices increased 6.9% in yr to October 2016
Statistical Bulletin from the Office for National Statistics (ONS) released yesterday 13th December 2016……House Price Index October 2016. The UK HPI is a joint production by Land Registry, Land and Property Services Northern Ireland, Office for National Statistics and Registers of Scotland. Average house prices in the UK have increased by 6.9% in the year…
Allen Walkey
Greater London remains the UK’s worst performing region
Home.co.uk yesterday released their Asking Price Index headlined ‘London Prices Fall as Supply Leaps in the East and South’ Doug Shephard Director at Home.co.uk said: “Whilst we should expect seasonal price declines at this time of year, it is clear that the UK property market is no longer in great shape. “Brexit is not really…
Allen Walkey
Homelet Rental Index November
The most recently released HomeLet Rental Index (November) states that 2016 to date has seen a slower rate of rental growth, compared to the same period last year. The average UK rental value was £898pcm , this is 3.1% higher than the same period last year (£872pcm). Average rental values have increased in all regions…
Allen Walkey
A First-Time Buyer’s Guide to Buying a New Build
As a first-time buyer, you may feel daunted by the prospect of buying a new home. It’s the most expensive purchase you’re likely to make in your adult life and probably the most complex one too. This article will help you make sense of how to find and buy your new home. Help to Buy…
Christopher Walkey