Breaking News
Slowdown in house price growth
House price growth in Britain slowed in August, according to the mortgage lender Nationwide, this is confirmed in the results from their monthly survey released today. The price of a home increased at a 0.3% month-on-month pace in August, this was below what economists were expecting at a 0.4%. The year-on-year pace of inflation was…
Allen Walkey
Fewer mortgages for London property
Fewer mortgages are being granted to people looking to buy in London, the reason for this is simple, rising housing costs are pricing buyers out of the market, until the housing shortage is resolved the problem will continue to grow. According to the Council of Mortgage Lenders there were 18,800 home purchase loans granted from…
Allen Walkey
Rural productivity plan
This month the Department of Communities and Local Government (DCLG) announced the launch of its first Rural Productivity Plan, the aim is to harness the enormous economic potential England’s rural areas have to offer, both for the prosperity of those living in rural areas and for the benefit of the UK economy overall. The plan…
Allen Walkey
The Property Ombudsman promotes TSI approved Codes of Practice in Sunderland.
The Property Ombudsman, Christopher Hamer recently attended an event organised by Sunderland City Council to promote its Accredited Landlord’s Scheme, a new partnership launched to improve and maintain standards of accommodation in the private rented sector. Christopher spoke about the importance of the redress scheme explaining what TPO represents, how he operates and his role…
Christopher Walkey
Stricter lending criteria for BTL mortgages
High street lenders are getting tougher with landlords applying for mortgages to purchase a buy-to-let property, it has been announced in various publications that lenders are looking to introduce stricter criteria when it comes to checking applications, higher interest rates could also be applied to these mortgages. It has been mentioned that Landlords will face…
Affect on London property prices
The turmoil in Asian markets is having its affects across the world, we have seen this week share price movements that have never been seen before across markets, on Monday the Dow Jones dropped during the day by a record amount, thankfully for investors recovering by the end of the day. The Chinese economy has…
Allen Walkey
Consultation period for Scottish letting agents
Only recently we covered a new initiative by the Welsh Government that this autumn they will be introducing a new registration and licensing scheme for letting agents and landlords. Since Monday 24th August the Scottish Government have begun a consultation period on a statutory code of practice and training requirements for letting agents in Scotland,…
Allen Walkey
Increasing pace of rent rises
I think most agents would agree the housing supply figures are confusing to say the least when it comes to working out why there is a shortage of affordable housing, this shortage however is the problem behind house prices and rents continuing to rise. Rents are up 4.6% on a year before, average rents in…
Allen Walkey
New Letting Agency Award To Highlight Great Service.
Following the success of raterAgent’s ‘Estate Agent of the Month’ award, which has seen hundreds of agent branches vying for the exclusive trophy each month in 2015, the innovative rating and review website has teamed up with Fixflo to launch a new, lettings-specific monthly award. Free for any letting agent branch to enter, all they…
Christopher Walkey
Fewer first time buyers in the market
According to the National Association of Estate Agents (NAEA) the number of first time buyer sales in July fell from 29% of all sales made to just 23%, the release of these figures come at a time when housing supply figures show an increase in July and the number of house hunters reaching its highest…
Allen Walkey
OnTheMarket challenges Zoopla figures
It was just over a week ago that Zoopla released figures in a trading update to the London Stock Market, in that update it reported that its listings number had increased from 828k to 882k as at 31 July 2015. OnTheMarket is challenging the figures released by Zoopla, they are claiming that they might be…
Allen Walkey
Cheaper to buy rather than rent
When it comes to deciding whether to rent or buy, figures favour buying as the best option, research shows that almost £700 a year in savings can be made by the FTB, this figure however has narrowed as house prices have increased, a savings drop of 34% recorded over the last year. The biggest hurdle…
Allen Walkey
Licensing Welsh landlords and letting agents
Wales certainly appears to be leading the way when it comes to improving letting and management standards for those who rent private accomodation, this autumn the Welsh government will introduce a new law affecting all landlords and letting agents. A new registration and licensing scheme, a key part of The Housing (Wales) Act 2014 will…
Allen Walkey
Response by Shelter to housing shortage
Yesterday in”Breaking News” we had the House Building statistics for England, they were released by the Department of Local Communities and Local Government, amongst all their figures appearing on the Government website it was stated that 131,060 homes have been built over the last year, an increase of 15 per cent compared with the previous…
Allen Walkey
CLG housing completions and starts
The Department of Local Communities and Local Government (CLG) have today released House Building Statistics for June quarter 2015 in England. Seasonally adjusted house building starts in England are estimated at 33,280 in the June quarter 2015, a 14 per cent decrease compared to the previous quarter, the seasonally adjusted level of starts in the…
Allen Walkey