Breaking News
Buying cheaper than renting for FTB’s
Recent research from Santander Mortgages suggests that potential first time buyers would find it cheaper to buy than rent at the present time, they state that average rental prices are greater than average mortgage repayments in every region of the UK, a saving for first time buyers on average of £2,300 per year if they…
Allen Walkey
easyProperty postpones IPO plans
According to a recent report, the Chief Executive of Online estate agent easyProperty and the largest shareholder says, the company is not looking to list on the stock market for at least the next two years or more. Rob Elliice, Co-Founder and CEO reportedly told Reuters, “With Tosca on board, and they’re very keen to…
Allen Walkey
New instructions continue to fall.
According to the latest market survey from the Royal Institute of Chartered Surveyors (RICS) new instructions continue to fall and the lack of stock is causing unrealistic housing market in parts of the UK Simon Rubinsohn Chief Economist for the RICS reports house prices continue to rise across the UK driven by an ongoing shortage…
Allen Walkey
Continued assault on Buy-to-Let
The continued assault on buy-to-let is now having its affect, landlords are already feeling somewhat deflated as they question the viability of their business and are now considering their positions regarding their buy-to-let investments, the last attack on landlords was the increase in stamp duty to be introduced next April for buy-to-let and second homes….
Allen Walkey
Britain’s best known landlords sell up.
Fergus and Judith Wilson probably Britain’s best known buy-to-let landlords have sold their entire portfolio of homes to a consortium of foreign investors for more than £250m, according to the Guardian. In a statement to the Guardian, Fergus said: “We reached an agreement today with a consortium of buyers to sell our entire portfolio for…
Allen Walkey
Rents to remain flat into 2016
According to the latest figures released by HomeLet, their Rental Index reveals that rents on new tenancies agreed over the three months to November fell in most areas of the country. November HomeLet Rental Index shows rents on new tenancies remained flat or fell in 10 out of 12 regions of the UK over the three…
Allen Walkey
Government help for flood-hit communities
Flood affected communities will not face Council Tax or business rate bills for the homes and businesses they have been displaced from, Greg Clark announced yesterday. The Communities Secretary said this forms part of wider government efforts to ensure areas affected by the aftermath of Storm Desmond get the support they need. Communities Secretary Greg…
Allen Walkey
Effects of extra stamp duty cost.
In the recent Autumn Statement George Osborne announced that there would be an additional 3% stamp duty on second homes and buy to let properties, this increase will come into force from April 2016, adding thousands in tax. Potential buy-to-let purchasers in a rush to avoid the additional stamp duty rate could fuel a 7%…
Allen Walkey
Halifax HPI for November
Halifax House price Index released today. Quarterly house price growth eases to 1.4% House prices in the latest three months (September-November) were 1.4% higher than in the preceding three months. Prices in the three months to November were 9.0% higher than in the same three months a year earlier. Commenting, Martin Ellis, Halifax housing economist,…
Allen Walkey
The future for Buy-to-Let
Following the election back in May of this year there was one sector that shined out above the rest in the property industry, that was buy-to-let, how things can change in just over 6 months. Very few buy-to-let stakeholders would have imagined that when the Conservatives were returned to office without the hinderance of the…
Allen Walkey
Major expansion of shared ownership
David Cameron will today 7th December deliver keynote speech in which he will announce plans for the expansion of shared ownership, opening the door to 175,000 aspiring homeowners, he will reiterate how the government is getting on with the job and delivering on its manifesto commitments to provide real security and opportunity at every stage…
Allen Walkey
Storm Desmond hits Cumbria
The weekend news for the UK has certainly been dominated by the affects of Storm Desmond, Cumbria appears to have come out the worse with torrential rain and rivers bursting their banks, a number of public events were cancelled across East lancashire due to the affects of flooding, heavy rainfall and strong winds prompted the…
Allen Walkey
Continued upward pressure on house prices
The substantial imbalance between supply and demand when it comes to purchasing a home is very likely to persist into 2016 according to the Halifax. This imbalance in itself is the most important factor that maintains the upward pressure on UK prices which are looking expensive compared to incomes. Halifax’s housing economist, Martin Ellis, reportedly…
Allen Walkey
Housing supply is affected by immigration
According to recent official figures from the Government, net immigration will lead to the creation of 95,000 new households a year, if we go with the forecast of 200,000 new homes to be created per year for the next 5 years then half of such homes will be needed to cope with the influx of…
Allen Walkey
London homes require highest average deposit.
It is really no surprise to learn that the average London Property requires the largest deposit from buyers as a down payment to go with their mortgage in the UK. According to new figures released by Mortgage Broker Today, deposits in London rose 5% in October compared with September. Buyers now need on average £179,248…
Allen Walkey