Breaking News
Period of adjustment for Prime Central London property
Property prices in Prime Central London are expected to be lower by the end of 2016 as buyers sit it out and wait for the Brexit negotiations to unfold, however by 2019 they are expected to be moving up again, according to a recent report. It is expected that In the next five years, prime…
Allen Walkey
UK Property Transactions Count – August 2016
Released yesterday 21st September from HM Revenue and Customs; the monthly property transactions completed in the UK with value of £40,000 or above. The provisional seasonally adjusted UK property transaction count for August 2016 was 97,660 residential and 10,620 non-residential transactions. Residential transactions There has been negligible change in the seasonally adjusted estimate of the…
Allen Walkey
London Mayor launches ‘London Living Rent’
The London Mayor, Sadiq Khan set out the first details of his plans for ‘London Living Rent’ this week, while on a visit to the new Sugar Hill housing development in Harlem, New York City, all part of a five-day business trip to Montreal, Chicago and New York to spread his message to the US…
Allen Walkey
Competition in mortgage market may drive rates lower.
Last week the Bank of England’s Monetary Policy Committee voted unanimously to keep its monetary policy on hold, maintaining interest rates at 0.25 per cent. The MPC stated, however, that rates could be cut again in the coming months even though the economic impact of the Brexit vote has been less significant than previously expected….
Allen Walkey
Estate Gazette Awards 2016
The Estate Gazette Awards 2016 took place last night at the Grosvenor House Hotel, London, W1. The Awards were judged by some of the most recognised and respected names in the industry. To check out the 22 Winners, Picture coverage of the night, the Shortlist, the Judges and more…click here
Allen Walkey
Landlords disadvantaged by tax relief cap.
The move to cap tax relief on buy-to-let mortgages by the former Chancellor of the Exchequer which starts next year could put private landlords at a disadvantage when calculating their tax returns. This situation is causing landlords to sell properties back to themselves in an effort to reduce tax liabilities on the property they rent…
Allen Walkey
Average asking price up 0.7% on month in September says Rightmove
Asking prices in London rose 1.9% from August, rebounding after four straight months of decline, Rightmove says. It added that the recovery this month was “exaggerated by seasonal volatility, with more owners of expensive properties coming to market after the end of the summer holidays.” The average asking price for a house in the UK…
Allen Walkey
Should government provide deposits for ‘generation rent’?
A report published last week by Localis an independent think-tank dedicated to issues related to politics, public service reform and localism headlined ‘Turning Generation Rent into Homeowners’. The report makes the case for government to provide mortgage deposits for Generation Rent, it recommends the introduction of a government-backed deposit guarantee scheme for first-time buyers. The report…
Allen Walkey
Hands-on landlords stay close to investment properties
Two thirds of landlords live within ten miles of their rented property Most manage the property and tenant relationships themselves Two-in-three landlords live within ten miles of their buy-to-let property and manage day-to-day maintenance of the property themselves, new research by Simple Landlords Insurance reveals. Analysis of over 10,000 addresses shows a fifth of…
Christopher Walkey
Second Success Story for the SAVA School of Surveying
Just two years since its launch in 2014, the SAVA School of Surveying has seen its second graduate achieve the SAVA Diploma in Residential Surveying and Valuation and join the Royal Institution of Chartered Surveyors (RICS). Tony Rogers from Guildford has become the school’s second residential surveying graduate, completing his qualification in less than 18…
Christopher Walkey
Aldermore introduces new limited edition BTL product
Aldermore Group PLC the specialist lender and savings bank announced this week the launch of its lowest ever Buy-to-Let (BTL) product at 2.99% aimed at Private Landlords, for loans up to £1 million. The product applies to private individuals looking to either purchase or remortgage a buy-to-let property, and includes: 2.99% 5-year fixed rate up to…
Allen Walkey
ZPG invests in innovative proptech start-up
Zoopla Property Group (ZPG) announced yesterday that it has invested in and agreed an exclusive long-term strategic partnership with Bricklane.com, the UK’s latest innovative proptech start-up. Bricklane.com is launching the UK’s first online Property ISA, aiming to help ‘Generation Rent’ get a toehold in the property market whilst saving up for a deposit on a…
Allen Walkey
Interest Rate unchanged at 0.25%
Bank of England Interest rate decision. Remains at unchanged 0.25% All 9 members of the Monetary Policy Committee voted in favour to keep interest rate on hold at 0.25% Bank of England Asset Purchase facility. Remains at £435B
Allen Walkey
Trading update from Purplebricks
Purplebricks PLC issues a trading update for the 19 week period to 14 September 2016 in advance of its AGM to be held at 10.00am today. Commenting on the update, Michael Bruce, Chief Executive, said: “We continue to win market share through a combination of our compelling customer proposition, increased brand awareness and the ongoing…
Allen Walkey
House purchase Lending for July down on June.
Press release published yesterday 14th September, from The Council of Mortgage Lenders (CML) headlined ‘July house purchase lending down 13% on June’. The report leads: Home-owners borrowed £10.6bn for house purchase, down 13% month-on-month and 12% year-on-year. They took out 58,100 loans, down 14% on June and 13% on July 2015. Paul Smee, director general of the…
Allen Walkey