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Countrywide report good progress despite tough market conditions
Countrywide PLc released their trading update yesterday 24th November headlined ‘Good strategic progress in a challenging market’. Commenting on the Group’s performance, Alison Platt, CEO said: “We have made good progress this year despite tough market conditions since the EU referendum, particularly pleasing is our growth in market share in both Sales and Lettings based…
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Hometrack report house price to earnings ratio breaks 14x.
Hometrack today released UK Cities House Price Index October 2016 headlined ‘London breaks 14x house price to earnings ratio’ In the report they state: City level house price growth holding steady at 8.4%. An 86% uplift in house prices since 2009 has pushed the price to earnings ratio in London over 14x, more than double…
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HAMMOND’S RENTAL BOOMERANG: INDUSTRY BODIES RESPOND TO BAN ON LETTING AGENT FEES
Commenting on the Autumn Statement, Richard Lambert, Chief Executive Officer at the National Landlords Association (NLA), said: _The new Chancellor is clearly aware of the pressures facing those living in the private-rented sector, but in attempting to improve affordability he has shown that, like his predecessor, he lacks an understanding of how the whole sector…
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Property Personnel slams Chancellor for not slashing stamp duty
The Managing Director of the UK_s longest-established estate agent recruitment consultancy has slammed the Chancellor for failing to reduce stamp duty in today_s Autumn Statement. Property Personnel Managing Director Anthony Hesse said: _Slashing the rate of stamp duty would have been Philip Hammond_s single most effective fix for UK finances. There is no more economically…
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Housing announcements in the Autumn Statement
The Chancellorÿ announced yesterdayÿ in the Autumn Satement a new 2.3 billion Housing Infrastructure Fund to deliver up to 100,000 new homes in areas of high demand and a further 1.4 billion to build 40,000 additional affordable homes, also another 1.7 billion by 2020-21 will be used to speed up the construction of new homes…
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Autumn Budget Statement – What’s in it for Housing?
Later today the Chancellor Philip Hammond will deliver his Autumn Budget Statement to the House of Commons, it will be the first for the new Chancellor and Prime Minister Theresa May. Some experts are expecting a possible cut in stamp duty on house purchase to help regenerate the housing market which appears to have slowed…
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Rent Smart Wales – enforcement powers are now active
Since 23 November 2015, all landlords operating in Wales were required to become registered. ÿ Landlords had a year to comply with this new obligation, thisÿ requirement comes from Part 1 of the Housing (Wales) Act 2014. The legislation made provision for those who needed to comply to do so within a year, without fear…
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Chancellor is set to announce a ban on letting agent fees
Press release today from ARLA commenting on the news that the Chancellor is set to announce a ban on letting agent fees in today_s Autumn Statement. David Cox, Managing Director, Association of Residential Letting Agents (ARLA), comments on news that the Chancellor is set to announce a ban on letting agent fees in today_s Autumn…
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House prices unchanged month on month in October
The Nationwide House Price Index (HPI) report released today headlines ‘Annual house price growth slowed in October’ House prices were unchanged month on month in October, the annual house price growth slowed to 4.6% from 5.3% in September. Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “After fifteen successive monthly increases UK house…
Allen Walkey
LSL no longer hold shares in Zoopla
LSL Property Services plc announced on Monday 31st October that it has sold, in aggregate, a further 3,533,786 ordinary shares in Zoopla Property Group PLC at an average price of £3.17 between the period from 19th September 2016 to 31st October 2016. They mention in the announcement that proceeds of the disposal will be used…
Allen Walkey
An Englishman’s home is his castle
I am not sure who gave us the the phrase ‘An Englishman’s home is his castle’ but it appears these days less and less in England or for that matter in the UK actually own their own home, official figures show that the UK now has the fourth lowest home ownership rate in the European…
Allen Walkey
Governor of Bank of England to remain until June 2019
Mark Carney the Governor of the Bank of England who was appointed to the position in July 2013 has reportedly confirmed that he will remain until June 2019, this dispells rumours that he was about to resign. Over the past month there have been conflicting newspaper reports suggesting that Mr Carney was about to resign,…
Allen Walkey
JV partnerships are the answer to affordable housing, says Aston Mead
Leading land broker Aston Mead is calling for local authorities to set up joint venture partnerships with developers, in order to accelerate the building of affordable homes. Land & Planning Director Adam Hesse suggests that councils offer selected land to developers as part of joint venture partnerships, which would prevent developers having to raise funding…
Christopher Walkey
Strategic restructuring for Auction House in the North West
Leading property auctioneer Auction House is restructuring its operation in the North West of England, as a strategic response to the surge in residential and commercial activity across the region. The group has created two tailored auction businesses in the area: Auction House Manchester operated by multi award winning estate agents Ryder & Dutton at…
Christopher Walkey
Rental prices increase most in South East England
Statistical Bulletin from the Office for National Statistics released 28th October headlined ‘Index of private housing rental prices (IPHRP) in Great Britain: Sept 2016’ An experimental price index tracking the prices paid for renting property from private landlords in Great Britain. Annual rental rises in the South East of England are now outperforming London, new…
Allen Walkey