Breaking News
Autumn Statement and Spending Review today.
George Osborne will later today in the combined Autumn Statement and Spending Review set out government spending plans for the next five years, this will include the government’s taxation and deficit reduction plans but should also include new money for house building. The chancellor is expected to pledge almost £7bn to make house building a…
Allen Walkey
Repossessions and Evictions.
The Joseph Rowntree Foundation is an independent organisation working to inspire social change through research, policy and practice. In their annual report posted only this week they reveal the definitive picture of poverty in the UK. The topic from the report we are spotlighting is on housing and specifically on repossessions and evictions. In their…
Allen Walkey
Numbers of new homes rising.
A recent press release from the Department for Communities and Local Government announces that the number of New Homes keeps rising – the highest annual increase since 2008. Greg Clark MP welcomed the latest figures showing the country is building again, with 753,000 new homes provided since 2010. The Communities Secretary said that these figures…
Allen Walkey
Sandfords give their predictions for the London 2016 property market.
Latest official data show that property market growth has continued to cool and regions, particularly London, has been far slower compared to last year. Sandfords, a Central and North West London agent, reports that the slowdown followed the reforms of stamp duty in the Autumn Statement last December. Andrew Ellinas, Director at Sandfords, says: “The…
Christopher Walkey
Letting agents in Wales must publicise fees
As from yesterday the 23rd November 2015,letting agents in Wales will have a new legal obligation under the Consumer Rights Act2015 to publicise their fees. Agents must now display a list of the fees (a) At each of the agent’s premises at which the agentdeals face – to – face with persons using or proposing…
Allen Walkey
Rent Smart Wales now launched
With around one in seven homes in Wales now privately rented, the Welsh Government housing minister Lesley Griffiths today launches the “Rent Smart Wales Scheme”, this scheme is meant to uphold standards in the private rented sector. The aim of the licensing scheme is to improve the image of the private rented sector, all private…
Allen Walkey
Ever increasing rents in London
Labour’s London Assembly housing spokesperson Tom Copley AM has warned that the average rent for a two-bed home in the capital will hit £2,007 a month by January 2020 if rents continue to rise at their current pace, such a rent would mean a single earner in the household would have to earn almost £120,000…
Allen Walkey
Support for OnTheMarket.com exceeds 6,000 agent offices.
The level of overall support for OnTheMarket.com has reached in excess of 6,000 UK estate and letting agent offices. The figure – which consists of contracted members and agents who have signed a Letter of Intent to join OnTheMarket.com when total support reaches 7,500 offices – was achieved less than 10 months after the launch of the portal in…
Christopher Walkey
Average rents fall in October
Rents reached an all time high in September of £816 a month across England and Wales, October saw a small reduction down to £806 a month, just a dip of 1.2%, however rents are still 4.7% higher than a year ago, this is according to Your Move estate agents. Despite the slowdown in rent rises…
Allen Walkey
October UK Cities HPI from Hometrack.
According to Hometrack UK Cities House Price Index (HPI) for October, city level house price inflation is running at 9.4% per annum and is set to reach 10% by year end. Hometrack’s UK Cities Index records annual house price growth of 9.4%, faster than the 7.1% UK wide growth rate. City level house price inflation…
Allen Walkey
British buyers returning to London market
British buyers are returning back in numbers to the London property market while overseas buyers are being put off by higher taxes, Brits now account for well over two thirds of purchases in the capital’s prime post codes, according to a new study by estate agent Marsh & Parsons. The report said overseas buyers have been put…
Allen Walkey
Tax relief cut is bad news for BTL
According to a new survey by Your Move and Reeds Rains, the reduction in tax relief is the reason that 50% of all landlords are currently looking to sell their buy-to-let (BTL) properties, the announced cut in tax relief for landlords to the 20 per cent basic rate has become a major factor for landlords…
Allen Walkey
Nigel is the best name for quick home sales in Liverpool?
Interesting read from Lilly Edwards who shared an editorial on ClickLiverpool.com website looking at the best names for selling homes in Liverpool. Nigel, Mike or Louise apparently are the most successful at selling their homes the fastest whilst you are pretty much up against it if you are called Jason. The average viewings to achieve…
Christopher Walkey
House Price Index September 2015 from ONS
Released yesterday by the Office for National Statistics, the house Price Index September 2015. Main Findings from the publication. UK house prices increased by 6.1% in the year to September 2015, up from 5.5% in the year to August 2015. House price annual inflation was 6.4% in England, 1.1% in Wales, 1.1% in Scotland and…
Allen Walkey
Increase in Buy-to-Let mortgages.
Competion between lenders has increased due to a bouyant buy-to-let market, meaning better deals and lower rates on offer, according to Moneyfacts. Charlotte Nelson, finance expert at Moneyfacts.co.uk, reportedly said: “The buy-to-let market is clearly booming; with rents at a high and buy-to-let mortgage rates dropping to historic lows, there is great potential for prospective…
Allen Walkey