Breaking News
Surge in Scottish home purchases
Highest January home sales in eight years according to the Your Move & Acadata Scotland House Price Index report. Scotland sees highest January sales since 2008, up 24% year-on-year with rush to avoid Land and Buildings Transaction Tax (LBTT) surcharge. Biggest uplift in Midlothian, rising 38% on January 2015, as flats and terraced houses are…
Allen Walkey
Design Week Chelsea Harbour
Spring has finally sprung and what better way to get inspired by the new colourful interior trends for Spring than to visit Design Week at Chelsea Harbour. For anyone who has never been to the Design Centre its a mecca for beautiful fabrics and high end exquisite furniture. All this week and next the centre’s…
Landlords and tomorrow’s budget
Buy-to-let lender Paragon has reportedly put it to the Chancellor George Osborne not to make further changes to tax on landlords ahead of the budget that will be announced tomorrow. Landlords in the UK feel increasingly under attack especially over the last 12 months, with legislation such as the EU Mortgage Credit Directive and increase…
Allen Walkey
Private rented sector rents continue to rise.
Homelet Rental Index February 2016 The cost of taking on a new tenancy in the private rentals market continues to rise, with the average rental agreement signed in the UK outside of London during the three months to February 2016 costing 4.8% more than in the same period a year ago, new data from the…
Allen Walkey
Conservative candidate for London Mayor
Last week we had a brief look at both the Labour and Libdem candidates for London Mayor, today we take a look at Zac Goldsmith, the Conservative candidate, with the vote taking place in around 50 days Zac is trailing Labour’s Sadiq Khan at the moment in the polls but that could all change as…
Allen Walkey
Spending cuts expected in this years budget
The spring budget will be delivered by George Osborne this wednesday, he will set out the Government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility (OBR) plus tax change proposals for the following financial year. According to the BBC the the Treasury said it would not comment on…
Allen Walkey
Haringey Council vs Letting Agencies.
“Hate estate agents? Yes, you probably do — and if you rent, the fees you have to pay for every tiny little thing probably make you hate them the most.” Is what is quoted via the Londonist website which reported on this news story. Maybe a little harsh in my eyes as this industry is…
Christopher Walkey
Substantial increase in remortgage lending
The Council of Mortgage Lenders (CML) data shows on an unadjusted basis, lending in January. Home-owners borrowed £8.4bn for house purchase, down 25% month-on-month but up 12% year-on-year. They took out 46,200 loans, down 27% on December but up 5% on January 2015. First-time buyers borrowed £3.3bn in January, down 27% on December but up 14% on January…
Allen Walkey
Over 150,000 completions under Help-to-Buy
Over 150,000 people have achieved their aspiration of home ownership thanks to the government’s flagship housing scheme Help to Buy, according to a recent announcement from the Department for Communities and Local Government. Since the launch of the Help to Buy equity loan and mortgage guarantee schemes: Over 150,000 completions under the scheme have taken…
Allen Walkey
Increased activity due to stamp duty deadline
UK property prices are expected to slow in the coming months due to concerns about the June 23 European Union referendum and global economic uncertainty, February saw strong growth in property prices across the UK except for London, the rush to buy before the stamp duty hike in April will probably see strong figures continue …
Allen Walkey
Labour London Mayor candidate launches manifesto.
Labour’s London Mayoral candidate Sadiq Khan reportedly announced yesterday plans in his manifesto to “name and shame” rogue landlords through a New York City-style website, it would be based on a scheme set up by New York mayor Bill de Blasio, it would provide a database of landlords who had been successfully prosecuted for housing-related…
Allen Walkey
Planning permissions hit 8 year high
New figures published yesterday (8 March 2016) by the Department for Communities and Local Government, show that the number of planning permissions for homes rose 6% on a year earlier, as housing measures continue to turn the market around and build more homes for hard working families and first time buyers. The number of major…
Allen Walkey
London Mayoral elections in May
The EU referendum planned for the 23rd June is really taking the limelight at present what with David Cameron pushing for “remain” since his return from Brussels In February, Boris Johnson putting his weight behind the “leave” campaign, the resignation of John Longworth Head of The British Chambers of Commerce following his fallout over “Brexit”…
Allen Walkey
Foxtons Group plc announce financial results
Foxtons Group plc, London’s leading estate agent, today announces its financial results for the year ended 31 December 2015. In their operational summary they state: Revenue growth across all segments (Sales +3.4%, Lettings +2.3%, Mortgage broking +31.8%) Both Sales and Lettings segments operating at Adjusted EBITDA margins in excess of 30% A strong lettings business…
Allen Walkey
Another landlord fined for breaching the rules.
A recent article appearing in the Barking and Dagenham post reports on a Barking landlord who breaches the rules appertaining to her letting licence, do we now have an epidemic in the lettings industry where crimes are being comitted day on day by those not just satisfied with their financial returns but through sheer greed…
Allen Walkey