Breaking News
Halifax (HPI) June 2016
Halifax House Price Index released today for June 2016 headlines Annual house price growth eases to 8.4%. Prices in the three months to June were 8.4% higher than in the same three months of 2015 House prices in the last three months (April-June) were 1.2% higher than in the preceding three months. Martin Ellis, Halifax…
Allen Walkey
Possible cut to UK interest rates next week.
Analysts are expecting lower interest rates to come as early as next week, a new low of 0.25% can now be expected in an attempt to boost a flagging economy post “Brexit”. In the immediate wake of the referendum result last week, Governor of The Bank of England, Mark Carney has hinted at further stimulus…
Allen Walkey
Auction House declares ‘business as usual’, despite Brexit uncertainty
The UK’s largest residential property auctioneer Auction House says that uncertainty surrounding the EU referendum had very little impact on sales, and is reporting a performance level close to last year. The group’s June figures were similar to those in 2015, with 252 lots sold (only 8 fewer than last year) but at a noticeably…
Christopher Walkey
Property funds suffer in UK while banks suffer in Europe
The Bank of England governor, Mark Carney, has given UK banks the green light to lend an extra £150bn to households and businesses, he warns that the Bank of England cannot offset the full impact of the Brexit vote. Investors in Standard Life’s property funds have been told that they cannot withdraw their money, after…
Allen Walkey
Are Housebuilders Being affected by “Brexit”?
Property stocks dropped on Tuesday with real estate investment trusts dropping after Standard Life Investments suspended trading in a real estate fund and housebuilders slumping on worries about the sector’s outlook after a Brexit. Taylor Wimpey share price dropped almost 10p down to 121p, Brexit has provided media with the opportunity to turn a drama…
Allen Walkey
Tough times for the over 50’s in the property market.
In a recent Homewise Blog they highlight that up to one in ten over-55s homeowners across the UK are still paying interest-only mortgages and facing the prospect of clearing their debt when the deal runs out, this according to new research carried out by the retirement property experts Homewise. Its independent research among over-55s paying…
Allen Walkey
ZPG SET TO LAUNCH SMART VIEWINGS IN PARTNERSHIP WITH VIEWEET
ZPG has partnered with prop-tech company Vieweet and is set to launch the world’s first remote-viewing platform called Smart Viewing on its Zoopla site, enabling house hunters to view property remotely from the comfort of their very own home. The innovative solution solves the age-old problem of property consumers not having enough time to view as many properties as they wish. Instead…
Christopher Walkey
Aston Mead calls for calm following #Brexit vote
One of the UK’s leading land brokers has called for calm in the property sector, following Britain’s referendum vote to leave the European Union. Adam Hesse, Director at Aston Mead Land & Planning says that despite the Remain camp’s previous warnings of disaster, remarkably little has changed in the first 12 days since the vote….
Christopher Walkey
Financial stability report from Mark Carney Governor (BoE)
The Bank of England Governor speaks on the financial stability report this morning, potentially laying out plans to deal with any issues that may arise as a result of the Brexit vote on 23 June. Financial stability report July 2016. Governor’s opening remarks. Today, I want to outline how the Financial Policy Committee (FPC) is…
Allen Walkey
Markit/CIPS UK Construction (PMI) June
News release yesterday Markit/CIPS UK Construction Purchase Managers Index (PMI) headlined: UK Construction PMI signals weakest performance for seven years in June. Data collected 13-29 June Key points: Construction output falls at fastest pace since June 2009. Sharp reversal in residential and commercial activity. Incoming new work declines at steepest pace since December 2012. To…
Allen Walkey
Landmark ruling over negligent valuation report.
The Court of Appeal has recently overturned a decision of an earlier hearing in the Chancery Division, in which the Court ruled that the loss to Tiuta International Limited should be limited to the amount lost in ‘topping up’ the original loan (c£272,700). The Court found in favour of an appeal from Tiuta International, a…
Allen Walkey
So, Farage has helped the majority of voters to leave the EU & now Exits UKIP:
Breaking news today and currently flooding timelines of social media is Mr Nigel Farage and that he has announced he quits as leader of the UKIP party. It has been one of the most incredible few weeks in politics both home and abroad in regards to the UK, not only has a prime minister stepped down…
Christopher Walkey
Request to abandon Land Registry Privatisation.
A report out late last week by The Guardian stated that over 60 MP’s have signed a letter to the Government asking them to call off their controversial plans to privatise the Land Registry. The letter written by Labour MP, David Lammy, is supported by cross party MP’s, The Guardian reported that the letter warns…
Allen Walkey
Wales leads the way.
I suspect many of you who saw the Welsh flag at the head of this Breaking News item would have thought you were going to get another report on what can only be described as one of the greatest games of football in British fooballing history last week, Wales against Belgium, well you are not,…
Allen Walkey
Overseas property after Brexit
Brexit appears to be a nailed on certainty from here on, even though article 50 needs to be invoked by the government in power and from what we are hearing from the media this will not happen until we have a new Prime Minister in place, even then there will be negotiations that will take…
Allen Walkey