Breaking News
Grim outlook for “Generation Rent”
The outlook for “Generation Rent” is not getting any better, infact according to PriceWaterhouseCoopers (PWC) it is worsening, with only one in four to be homeowners by 2025. The analysis by (PWC) has been extended to look at tenure trends across different age groups in more detail. Key findings are: By 2025, 59% of 20-39…
Allen Walkey
GIBBS GILLESPIE’S HOLLY PENDRED WINS NATIONAL ‘EMPLOYEE OF THE YEAR’ AWARD!
Holly Pendred from Gibbs Gillespie in Uxbridge, Middlesex, is celebrating after being crowned Relocation Agent Network’s Employee of the Year 2015. The award recognises the individual excellence of one person in one Relocation Agent Network member estate agency from across England, Scotland and Wales. Holly, an Assistant Lettings Manager, was recognised not only for exceptionally…
BUY2LET.COM CALLS FOR AST REGISTER TO ROOT OUT ROGUES & QUANTIFY THE MARKET
Buy2Let.com has launched an online petition via the UK Parliament portal, calling for a national register of buy-to-let private rental properties. Just as owner-occupier property transactions are recorded and analysed via the Land Registry, we are campaigning for a register of transactions by buy-to-let investors, to help quantify the market and root out the rogue landlords….
Confidence high amongst home-owners says Rightmove
Research from Rightmove shows home-owners are in a confident mood and largely unfazed by the risk of higher interest rates in 2016, sellers who come to market in the run-up to Christmas typically set lower asking prices as buyers are harder to attract at this time of year. Rightmove noted this November’s price-dip of 1.3%…
Allen Walkey
Huge interest in Right-to-Buy
Thousands of households across the country are signing up their interest for the Right to Buy, according to latest government figures. Communities Secretary Greg Clark says this shows the huge interest in the initiative, which allows families in social housing the Right to Buy their property with more than 5,000 coming forward in the first…
Allen Walkey
North – South divide.
According to analysis by My Home Move, the UK’s leading provider of mover conveyancing services, it show that homes change hands more often in the south as they do in the north, every 16 years in the South East, compared to every 22 years in the North East. Shorter periods between new owners is seen…
Allen Walkey
Sale of Northern Rock mortgages.
Chancellor George Osborne has authorised a record-breaking £13 billion sale of mortgages acquired from the Northern Rock by the government during the financial crisis, this is the largest ever financial asset sale by a government in Europe. The mortgages, which were originally owned by Northern Rock are being sold by UK Asset Resolution (UKAR) to…
Allen Walkey
Purplebricks.com to float on stockmarket.
In a news item late yesterday Sky News announced that it has learnt that Purplebricks, the online estate agent has informed shareholders in recent days that it wants to float on the stock market as soon as the first week of December. Backed by the City’s leading fund manager Neil Woodford, this would give the…
Allen Walkey
Supply of New Homes increases
A Housing statistical release yesterday from the The Department of Communities and Local Goverment gave figures on net supply of housing for 2014-15. Annual housing supply in England amounted to 170,690 net additional dwellings in 2014-15, a 25% in net additional dwellings from 2013-14. The 170,690 net additions figure for 2014-15 comprised 155,080 new build…
Allen Walkey
Aldermore reports residential mortgage growth
Aldermore group posted their 3rd quarter results yesterday. Aldermore Group has seen residential mortgages increase by 22 per cent to £3.1bn, compared with £2.6bn at the end of last year, putting it on track to deliver targeted 2015 net loan growth of circa £1.4bn. On track to deliver targeted 2015 net loan growth of c£1.4bn…
Allen Walkey
Government’s new over-crowding measures won’t stop sub-letting abuse.
Landlord Action is in full support of the Government’s latest proposal to crack down on rogue landlords. In particular, those who carve up properties to creative multiple sub-standard sized rooms in a bid to maximise their rental income. Founder, Paul Shamplina, believes imposing a minimum square footage per room, as a legal requirement, will help…
Christopher Walkey
Mortgage approvals improve in third quarter
According to the Council of Mortgage Lenders in their press release yesterday there was a reported pick up in mortgage approvals in the third quarter First-time buyers saw month-on-month and year-on-year increases in activity by volume and by value in September. Home mover lending by contrast saw a dip in September compared to August, but grew by volume and…
Allen Walkey
House prices rise for third consecutive month
The latest UK Residential Market Survey from the Royal Institution of Chartered Surveyors (RICS) found that in October house prices have risen across all parts of the UK for the third consecutive month and that they are expected to rise by 4.5% per annum, over the next five years . East Anglia has consistently seen…
Allen Walkey
Two more agents expelled from The Property Ombudsman for 2 years.
Two more agents, A S Moon & Partners, a sales and letting agent based in Northumberland, and CityWest.co.uk Limited, a sales and letting agent based in Hounslow, have been expelled from membership of The Property Ombudsman (TPO) for a minimum of two years. Both had failed to comply with parts of the TPO Codes of…
Christopher Walkey
Barrat Developments Trading Update
Barratt Developments PLC Trading Update is for the period from 1 July to 8 November 2015. Market conditions remain strong, with the Group trading well since the start of the new financial year. There is good consumer demand for our homes across the country, supported by a positive economic backdrop. With demand outpacing supply, we…
Allen Walkey