Breaking News
Article 50 to be triggered within 6 months
Theresa May opened the 4 day Tory conference in Birmingham yesterday, it presented her with the first real chance to define her premiership and to detail the key policies that will go to make up her radical agenda. Prior to attending the conference; Theresa May said she will introduce a “Great Repeal Bill” in…
Allen Walkey
Banks under pressure to reduce prices on unsold properties in Spain
The Spanish property market has been recoverying slowly over the last year, prices have stabilised and in some areas are showing increases. However recent reports suggest that the country still faces a large backlog of unsold property, banks still own homes from struggling developers and repossessions. In an effort to reduce bank’s real estate exposure…
Allen Walkey
Nationwide (HPI) September
Nationwide House Price Index (HPI) September released today headlines ‘Annual house price growth softened in September’ House prices increased by 0.3% in September. Annual house price growth slowed to 5.3%, from 5.6% in August. Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “The pace of annual house price growth slowed to 5.3% in…
Allen Walkey
Tougher buy to let lending rules for landlords
The Prudential Regulation Authority (PRA), the supervisory arm of the Bank of England, has confirmed it will bring in tougher underwriting standards for buy-to-let lenders following an earlier consultation. Tougher lending restrictions are to be imposed on Landlords when applying for buy to let mortgages, the new rules will require banks and mortgage providers to…
Allen Walkey
Government Helps over 185,000 buy a new home
Announcement published on the Gov.UK website yesterday from HM Treasury, Department for Communities and Local Government, Simon Kirby and Gavin Barwell MP headlined ‘Help to Buy helps over 185,000 people buy a new home’. Economic Secretary to the Treasury, Simon Kirby, said: “Through the Help to Buy schemes, we have helped 185,000 people buy a…
Allen Walkey
Increase in Number of households reporting to be homeless
Governement figures released yesterday showed that Local authorities accepted 15,170 households as being statutorily homeless between 1 April and 30 June 2016, up 3% on the previous quarter and 10% on the same quarter of last year. These are households that are owed a main homelessness duty to secure accommodation as a result of being…
Allen Walkey
Launch of new (BTL) cashback mortgages
Launched today by The Mortgage Works (TMW) part of the Nationwide Building Society is a new selection of Buy-to-Let (BTL) mortgages with £250 cashback and free standard valuations, available to both remortgage and house purchase customers. Paul Wootton, managing director of TMW, reportedly said: “We have launched new products with both a cashback of £250…
Allen Walkey
Dates for the Diary
Dates for the Diary. Property Investor & Homebuyer Show at Excel London, Friday 7th and Saturday 8th October. The most comprehensive exhibition of UK & International residential property (and services) presented in Europe returns to ExCel London for its ‘Autumn Edition’ in October 2016. To know more about the show click here
Allen Walkey
Mortgage Advice Bureau profits up.
Mortgage Advice Bureau (Holdings) PLC today announced its interim results for the six months ended 30 June 2016. Peter Brodnicki, Chief Executive commented: “I am pleased to report another strong set of results, with profit before tax up 34% and MAB’s market share increasing by 20% compared to the same period last year. After a…
Allen Walkey
London second from top of Real Estate Bubble Index
According to the UBS Group AG analysis of 18 financial centres, Vancouver tops the UBS Global Real Estate Bubble Index as being at most risk of a housing bubble, London, Stockholm, Sydney, Munich and Hong Kong follow behind in bubble risk section. House prices in the bubble risk cities have increased on average by almost…
Allen Walkey
Numbers of single purchasers has decreased
In their latest news report published yesterday by MyHomeMove.com research revealed that the number of homes bought by ‘single’ purchasers has fallen by an average of 4% over the past five years, approx 10,000 transactions per year. Home buying couples, friends and those purchasing in groups, now account for approx 60 per cent of…
Allen Walkey
Housing supply at highest level since March this year.
The National Association of Estate Agents (NAEA) yesterday issued their August Housing Market report headlined ‘Supply of Housing Hits A Six Month High’ In the report it states supply of available housing rose to the highest level seen since March this year, the number of houses available for buyers increased to 41 per estate agency…
Allen Walkey
The Property Ombudsman issues revised Codes of Practice to address ‘portal juggling’
On 1st October 2016, The Property Ombudsman (TPO) scheme will issue updated versions of all its Codes of Practice in order to address emerging industry issues; primarily the manipulation of internet portals, coined ‘portal juggling’. The practice known as ‘portal juggling’ accuses agents of misleading consumers by removing and re-listing homes on property portals, enabling…
Christopher Walkey
Statistics point to a softer housing market says BBA
Report out today from the BBA headlines ‘August 2016 figures for the high street banks’ House purchase approval numbers are 21% lower than in August 2015 but in the first eight months of 2016 they are 2% lower than in the same period of 2015. Remortgaging approvals were 6% lower than in August 2015 but…
Allen Walkey
Right to Buy helps thousands to become homeowners
An announcement last week published on the Gov.UK website from the Department for Communities and Local Government and Gavin Barwell MP headlined ‘Right To Buy: more than 56,000 new homeowners across the country’ New figures published 22 Septemebr 2016 show more than 312,000 households have now benefited from government-backed home ownership schemes including Right to…
Allen Walkey