Breaking News
Housing Groups in Scotland welcome end of right-to-buy
Housing associations have welcomed the end of the right to buy policy in Scotland after more than 30 years. The Right-to-Buy scheme which was introduced by Margaret Thatcher in the 1980’s has been blamed for a shortage of housing in the social rental sector. Shelter Scotland reportedly said, more than half a million social homes…
Allen Walkey
Interest rate cut expected this Thursday
This week the Bank of England (BoE) is expected to cut interest rates for the first time in seven years, a cut was expected just over two weeks ago which failed to materialize. The monetary policy committee decided it was too quick to take such action so soon after the vote for Brexit, however this …
Allen Walkey
UK Mortgage approvals at lowest for over a year
Figures out from the Bank of England (BoE) at the end of last week showed that UK mortgage approvals fell to their lowest level in more than a year in June. This added to the suggestion that the housing market had slowed down prior to the EU referendum, demand had already weakened since the stamp…
Allen Walkey
Slow residential property markets in London in first half
Foxtons Group plc, London’s leading estate agent, announced last friday its financial results for the half year ended 30 June 2016. Revenues are down and expenses are up, profit before tax collapses over the six month period to just £10.5 million, compared with £18.1 million last year. Five new branches opened during the first half…
Allen Walkey
Private Rental Prices increase most in South East.
Released yesterday 28th July by The Office for National Statistics ‘Index of private housing rental prices (IPHRP) in Great Britain. Results: June 2016. An experimental price index tracking the prices paid for renting property from private landlords in Great Britain. Main findings, Private rental prices paid by tenants in Great Britain rose by 2.4% in…
Allen Walkey
Countrywide PLC Half-Year Results
Countrywide plc, the UK’s largest integrated property services group, announced its results yesterday for the six months ended 30 June 2016. Countrywide warned that its 2016 earnings will be lower than the previous year, saying commercial and London residential transactions have stalled after the UK voted to leave the European Union (Brexit). Alison Platt, Chief…
Allen Walkey
Nationwide HPI July 2016
The latest Nationwide House Price Index report July 2016 released today headlines ‘House price growth steady in July’ House prices increased by 0.5% in July compared to 0.2% in June. Annual house price growth slightly up from 5.1% last month to 5.2%. Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “UK house prices…
Allen Walkey
A view of a park can add value to the property
We have had the school, then the supermarket and now the park…….comments by various commentators have picked up on different surveys on house prices and have reported that living close to any where with significant appeal increases the value of your home. According to the most recent research from Online estate agent HouseSimple.com, it states…
Allen Walkey
Mortgage lending and approvals fell back in June
The British Bankers Association (BBA) news article released 26th July headlined ‘June 2016 figures for the High Street Banks’ Dr Rebecca Harding, BBA Chief Economist, said: “This month’s High Street Banking data reflects the uncertainty that was felt ahead of the EU referendum. “Business borrowing in June dropped for the first time in 2016, signalling…
Allen Walkey
Another strong period of growth for Rightmove
Rightmove PLC reports half year results for the six months ended 30 June 2016. Rightmove, the UK’s number one property site, has delivered another strong period of growth in the six months ended 30 June 2016. Rightmove’s market leading audience continued to grow strongly with customers spending more on Rightmove’s products and services, resulting in…
Allen Walkey
Taylor Wimpey reports post-referendum trading ‘normal’
Taylor Wimpey PLC release their half year results for the period ended 3 July 2016 today. Pete Redfern, Chief Executive, commented: “We have delivered a strong operational and financial performance with continued growth in profitability, building over 6,000 new homes across the country during the first half of 2016. One month on from the EU…
Allen Walkey
Estate agent board ban to be extended
A report in The Argus covering Brighton and Hove, East, Mid and West Sussex headlines ‘Ban on estate agents board to be widened out across the city’ The report says councillors have voted to widen the ban on estate agent boards across Brighton and Hove at a full council meeting. The Argus reported that the…
Allen Walkey
Waterfords in Fleet Wins British Property Award
Waterfords’ Fleet branch has just won the British Property Award for Fleet. These prestigious awards provide agents throughout the UK with an invaluable opportunity to compare the service they provide with that of their local, regional and national competition. Using an award winning agent also provides consumers with the added level of reassurance that they…
Christopher Walkey
A nice profit banked in 10 days
According to a Stock Exchange (RNS) announcement on the 25th July, Purplebricks Group plc the hybrid estate agent was notified that on 22 July 2016, Joby Russell, Chief Marketing Officer, who is considered to be a person discharging managerial responsibilities, sold 243,618 ordinary shares of 1 pence each at a price of 140.00 pence per…
Allen Walkey
Fixed mortgage rate dropped on average since January
Moneyfacts.co.uk the financial information service yesterday published a six-month review of the mortgage market, in it they said the cost of all types of fixed rate mortgage had dropped on average since January. They mention that it is clear that the mortgage market had a significant boost during the first half of 2016, and this…
Allen Walkey