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Land Registry house price data for November
The November house price data released at the end of December shows an annual price increase of 5.6 per cent which takes the average property value in England and Wales to £186,325. Monthly house prices are up 0.4 per cent since October 2015. The number of property transactions has decreased over the last year. From…
Allen Walkey
Storms Eva and Frank
David Cameron pledges a £40m package to fix Britain’s flood defences in areas devastated by storms before and over Chrsitmas, he made this committment following his personal visit to see the damage caused by the storms, Lib Dem leader Tim Farron and shadow environment secretary Kerry McCarthy both criticised the pledge as too little too late….
Allen Walkey
House prices have risen substantially in London.
According to the most recent report from the London Housing Commission house prices in London have risen to 10 times the average wage this year. House prices are now nearly 45% higher than before the financial crisis and an average deposit in the capital costs over £70,000, rents across the capital have also exploded upwards,…
Allen Walkey
Nationwide House Price Index for December
The Nationwide House Price Index published today for December. UK annual house price growth increased to 4.5% in December from 3.7% for the previous month. London house price growth increased to 12.2% in Q4. UK house prices increased by 0.8% in December up from 0.15 in November. Commenting on the figures, Robert Gardner,…
Allen Walkey
Expectations for the housing market 2016
As far back as I can remember us Brits have been overley obsessed with house prices, probably started when Margaret Thather came to power back in the late 70’s. As we get close to the end of 2015 nothing has changed, property prices are again hitting what many see as unsustainable highs, this time the…
Allen Walkey
25% rise in mortgage approvals in November
The number of UK mortgage approvals in November rose 25% to 76,295 compared to a year ago, according to the British Bankers’ Association last thursday. A 20% increase in loans for house purchases was seen, a figure of 44,960 was recorded, this was below the estimates of 46,000, remortgaging surged 31% last month to 23,446…
Allen Walkey
Fewer young people own their own home.
According to data obtained by Labour it reports that the percentage of young people in the UK who own their own home is at its joint lowest level since 1996, suggesting that only 44.9% of 20 to 30-year-olds are homeowners Predictions for next year expect property price growth to continue and to outpace wages in…
Allen Walkey
Opposition to tax relief changes for landlords.
It was announced this year by George Osborne that from 2017 the tax relief at 40% or 45% presently enjoyed by landlords on their mortgages on buy-to-let property will be cut to a flat rate of 20%. This has been seen as unfair by some in the industry, a recent report in The Guardian reports…
Allen Walkey
Buy-to-Let becomes less attractive as an investment.
It would appear that buy-to-let as an investment is becoming less and less attractive, that is the opinion of the Chief Executive of Hargreaves Landsdown Ian Gorham who was quoted in the Mail on Sunday as saying a buy-to-let investment is just too expensive and too much like hard work. The year 2015 has certainly…
Allen Walkey
Savills Estate Agency selling Tom Cruise’s Countryside Estate.
An iconic film star and a wonderful countryside estate – Match made in heaven perhaps yet supposedly this has come in to play via Tom Cruise and Savills Estate Agents. Maybe just rumours or Chinese Whispers, but the property is up for sale for £4,950,000 via Savills on the property portal Rightmove though is not visible…
Christopher Walkey
Merry Christmas Everyone.
A very Merry Christmas to all our readers and our advertisers.
Allen Walkey
Plans to deregulate social housing sector.
Speaking at the Communities and Local Government Committee meeting about the housing association sector and the Right to Buy, Brandon Lewis has announced a deregulation package for the social housing sector. A change to the approach on high income social tenants, this will now be voluntary for housing associations and this is to make the…
Allen Walkey
TV’s Sue Perkins is the new voiceover for OnTheMarket.com’s TV advert
Comedian, broadcaster, actress and writer Sue Perkins has recorded a new voiceover for OnTheMarket.com’s TV advertisement. Following its successful advertising campaigns throughout 2015, OnTheMarket.com will be ensuring it continues to target genuine property-seekers with another round of national TV advertising from December 26 which will continue throughout the new year. The refreshed advert will be…
Fall in property sales in November
Homes sold in the UK fell sharply in November, according to the latest figures from HM Revenue & Customs (HMRC), completed sales dropped from 122,000 in October to 106,000 last month. The figure was still higher than for November last year, residential sales for the first eleven months of 2015 are almost identical to those…
Allen Walkey
Property prices in Wales to outpace London
According to the Royal Institute of Chartered Surveyors (RICS), Wales will be one of the strongest areas of the UK for transaction levels in the coming year, alongside the North East, Scotland and Northern Ireland. Analysts at the RICS indicate that house prices in Wales will rise by 6%, while London will see just a…
Allen Walkey