Breaking News
TENANTS NOW HAVE RIGHT TO REQUEST ENERGY IMPROVEMENTS.
From today (1 April 2016), tenants have the right to request consent from their landlords to make energy-saving improvements for the properties they rent. Landlords will not be able to refuse their consent without good reason, but tenants will need to ensure that they have a way of funding improvements at no cost to the…
Christopher Walkey
Stamp duty changes apply from today
The new rate of stamp duty on buy-to-let property and second homes comes into force today 1st April. There are exemptions however to this change in property tax, buying a property for less than £40,000, caravan or houseboat will not be included. Home movers who buy their next property before selling the one they are…
Allen Walkey
The pound still vunerable to Referendum uncertainty
In the run up to the referendum for the UK to remain a member of the European Union it was expected by many analysts that the pound sterling would weaken due to the uncertainty of the outcome. The pound is very vunerable to comments and did lose some ground recently particularly against the Euro, as…
Allen Walkey
Crossrail adds value to properties.
Properties within easy reach of the capital have seen values soar in the past year. Crossrail is still a year away from opening but is still having an upward effect on prices of properties within easy reach of the stations that will serve London commuters. The Land Registry said in its report yesterday that Slough…
Allen Walkey
Land Registry figures for February
Land Registry has released its latest house price index and revealed that the average price of a home in England and Wales showed a monthly price decrease of 0.2%, annual growth now stands at 6.1%, bringing the average house price in England and Wales to £190,275. The average house price of property in London has…
Allen Walkey
Buy-to-Let mortgages consultation (BoE)
Bank of England publishes consultation on proposals for regulation of buy-to-let mortgages 29th March 2016. Underwriting standards for buy-to-let mortgage contracts – CP11/16 This consultation paper (CP) seeks views on a supervisory statement which sets out the Prudential Regulation Authority’s (PRA’s) proposals regarding its expectations of minimum standards that firms should meet when underwriting buy-to-let…
Allen Walkey
Smoke alarms in privately rented homes still an issue.
Figures from a recent survey showed that 20% of privately rented homes have no smoke alarms fitted, the report from the English Housing Survey revealed that households with a working smoke alarm increased among owner occupiers and local authority tenants but had not risen in privately rented homes. Fire Chiefs are concerned about the number…
Allen Walkey
Fears of further clampdown on buy-to-let sector
Buy-to-let investment has risen by almost 100% over the last decade, at present it is around 14.5% of new mortgage lending, this represents a very strong group of investors. There are serious concerns coming from the Bank of England’s regulatory department that an increase in UK base rates, whenever this may be, could set off…
Allen Walkey
Mortgage borrowing remains bouyant in February
BBA figures for the High Street Banks February 2016released today. Gross mortgage borrowing of £13.2 billion in February was lower than in January but 33% higher than a year ago and the second highest increase since mid-2008. The number of mortgage approvals in February was 26% higher than a year ago, with remortgaging up 31% and house…
Allen Walkey
New Homes partnership for Aberdeen
An article appearing on the Scottish Housing News website reported that Places for People has signed a pioneering partnership with Aberdeen City council which will create 2,000 new homes in the city with the potential to build a further 1,000 properties. The landmark £300m Limited Liability Partnership (LLP) model is the first of its kind…
Allen Walkey
Marsh & Parson – Peter Rollings leaves:
A well known name and face within the UK property industry has decided it is time to retire from his role as CEO of Marsh & Parsons. Peter Rollings commented on his decision to retire stating he was fortunate to be CEO of Marsh & Parsons and that they were able to grow the brand to be on…
Christopher Walkey
Governments Housing aims
Speaking yesterday at the Home Builders Federation Policy Forum 2016, Housing Minister Brandon Lewis outlined the Governments housing aims including it’s intention to deliver 1 million homes by 2020. In his introduction he mentioned the plans in the previous weeks budget announcement: for an economy set to grow faster than any other major advanced country…
Allen Walkey
(ONS) House Price Index January 2016
Statistical Bulletin from The Office for National Statistics (ONS) released yesterday. House Price Index. January 2016. Main findings: UK house prices increased by 7.9% in the year to January 2016, up from 6.7% in the year to December 2015. House price annual inflation was 8.6% in England, -0.3% in Wales, 0.1% in Scotland and 0.8%…
Allen Walkey
RENT SMART WALES LICENCE FEES SLASHED FOR AGENTS.
Rent Smart Wales has revised the cost of a licence for letting and management agents following concerns from UKALA that the proposed fee would have a detrimental impact on standards and professionalism in the private rented sector. UKALA raised concerns that the proposed fee of £3,728 for a 5 year licence was too expensive and…
Christopher Walkey
US hospitality industry back in Cuba
Cuba has hit the news this week with the visit from American President Barack Obama, a warm welcome was offered, his speech went out live on TV to the Cuban people, he also enjoyed watching a game of baseball with Cuban President. Prior to the visit of President Obama who is in fact the first…
Allen Walkey