Breaking News
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
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