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House price inflation drops further in June according to RICS
According to the latest RICS UK Residential Market Survey uncertainty continues to stifle the housing market as house price inflation dropped further in June. They state that: At the same time there’s little encouragement for sales activity with agreed sales declining alongside new buyer enquiries and new instructions. This trend is also being reflected in…
Allen Walkey
Mortgage lending rose in May
The UK Finance press release yesterday headlines ‘Home buyers up 12% in May compared to April’. May mortgage lending trends show month-on-month and year-on-year increases in house purchase, buy-to-let and remortgage activity. On a non-seasonally adjusted basis, UK Finance data shows that mortgage lending in May rose. In May home buyers borrowed £10.8bn, up 10%…
Allen Walkey
Home price growth has been lower than inflation for six consecutive months suggest data from Home.co.uk
The Asking Price Index July 2017 released today by Home.co.uk headlines ‘House Price Growth Falls Further Behind Inflation’. The UK property market has clearly entered a period of stagflation. Our data suggests that home price growth has been lower than inflation for six consecutive months. Leading item in headlines reads: Home prices nudge up by…
Allen Walkey
Landlords must comply with new EPC rules by April 2018
The Residential Landlords Association (RLA) in a latest news release headlined ‘Landlords must be ready for changes to EPC rules’ highlights that the government has confirmed that changes to EPC rules preventing landlords from renting out inefficient homes will be brought in next April. The RLA states that: In a high level meeting the department…
Allen Walkey
Business activity growth in England slowed to a nine-month low in June according to lloyds Bank
Press release today from Lloyds Bank headlines ‘England sees economy lose growth momentum at end of second quarter’. According to Lloyds: Business activity growth in England slowed to a nine-month low in June, while Wales saw its fastest rise since February, according to the latest Lloyds Bank Regional Purchasing Managers’ Index (PMI). England’s business activity…
Allen Walkey
House prices have flattened over last quarter according to Halifax
The Halifax House Price Index report June 2017 released today headlines ‘Annual house price growth eases to 2.6%’. House prices in the three months to June were 2.6% higher than in the same period of 2016. House prices in the three months to June 2017 were 0.1% lower than in the three months to March…
Allen Walkey
Competition Appeal Tribunal issues judgment in favour of Agents’ Mutual
The Competition Appeal Tribunal today issued its judgment in the case between Agents’ Mutual v Gascoigne Halman. Ian Springett, Chief Executive of OnTheMarket.com, said: “We are pleased that the Tribunal has confirmed the position maintained consistently by our Board that Agents’ Mutual’s strategy for entry to the portals market has been pro-competitive both in object…
EAN Content
Asking rents hold up despite 7% uplift in available supply
Asking rents outside London rose 2.8% in the second quarter of 2017, in line with the 2.7% average seen over the past five years at this time of year More choice for tenants: Number of available properties on the rental market outside London 7% higher than this time last year, and up 8% in…
Rightmove
CIELA to halt letting fees ban, expose rogue agents and combat misleading corporate adverts
CIELA, the Charter for Independent Estate and Lettings Agents, has set out its first tasks, should the organisation launch successfully on 1 October. Subject to sufficient support and member sign-ups, its first 3 intentions are clear. If launched on 1 October, CIELA pledges to 1. Spotlight any and all agents operating illegally 2. Prevent the…
EAN Content
Nearly one in three houses don’t get built despite being given go-ahead according to shelter
Press release with new research from Shelter headlines ‘Phantom Homes: Nearly one in three houses don’t get built despite being given go-ahead’ Housebuilders have failed to build more than 320,000 homes in the past five years even after being given the go-ahead, according to new research out today. Figures from housing charity Shelter reveal this…
Allen Walkey
London rents grew on a monthly basis for the first time since November 2016 according to Your Move
The latest Buy-to-Let Index May 2017 (data) report from Your Move headlined ‘Seven UK regions see rents rise on annual basis’. Average rent across England and Wales is £814, London rents nudge upwards but are still 5% lower than in May 2016. Valerie Bannister, Lettings Director, Your Move, comments: “Strong and stable was the catchphrase…
Allen Walkey
Tribunal rules in favour of the owners of the property website Onthemarket
A tribunal released its findings yesterday 5th July 2017 in which it ruled in favour of the owners of the property website Onthemarket, this came following a long running tribunal started in July last year and finished in February this year. OnTheMarket which is owned by a consortium of estate agents requires in their contract…
Allen Walkey
ASA upholds complaint against Purplebricks over statement on their website.
The Advertising Standards Authority (ASA) has upheld a complaint from a rival agency over statement made on Purplebricks website featuring testimonials from clients, the rival agent Arun Estate Agencies Ltd challenged whether the “Fees saved” claims were misleading and could be substantiated. The ASA action as stated on their website as follows: The ad must…
Allen Walkey
UK rental prices fell by 0.3% when compared to last year according to new data from Homelet
The latest Homelet Rental Index June 2017 headlines ‘UK Rents continue to fall’. New data from HomeLet reveals that UK rental prices fell by 0.3% when compared to last year, the second successive month in which rents showed a decline, the average monthly rent now stands at £908. Rents in London fell by 2.6% in June…
Allen Walkey
Government low-cost home ownership schemes and their effect on social mobility
Recent research and analysis publication 3rd July 2017 on the Gov.Uk website from Social Mobility Commission headlines ‘Low-cost home ownership schemes’. Research looking at government low-cost home ownership schemes and their effect on social mobility. The research finds: Many low-cost home ownership schemes are more likely to benefit better-off buyers. Many schemes are of out of…
Allen Walkey