Breaking News
Harder and harder to get foot on ladder.
According to new research it could take new homebuyers up to 24 years just to save up for the deposit to buy a home of their own, getting that first foot on the property ladder is getting an almost impossibility. In an article in The Guardian it says, The Resolution Foundation think tank has used…
Allen Walkey
Crackdown on “Rogue” Landlords and Agents
Enough is Enough, Landlords and Agents who let out filthy and unsafe homes are about to get a shock, Housing Minister Brandon Lewis will be announcing the biggest package of measures to drive out these “Rogue Landlords” and Agents. Those that let out unfit properties will face fines of up to £30,000 under new laws…
Allen Walkey
Purplebricks first day of dealing.
The first day of dealings yesterday of Purplebricks the first online estate agency to float on the junior AIM market proved somewhat disappointing. The flotation price was at £1, the end of day price was 93p, a disappointing 7% drop on the day. Major shareholders include top fund manager Neil Woodford, Paul Pindar, former chief…
Allen Walkey
London house prices to almost double in 10 years.
A study compiled by the Centre for Economics and Business Research for the National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents, forecasts an average property price in London is set to almost double in ten years. As housing supply shortages continue it will only add to the upward pressure on…
Allen Walkey
New powers over buy-to-let lending.
Earlier this week the governor of the Bank of England, Mark Carney expressed concerns about the buy-to-let market, he said he was worried that if house prices began to fall, investors might sell in large numbers, which could destabilise the economy. The Treasury has suggested that the Bank of England could order banks and building…
Allen Walkey
Purplebricks launches on the Stock Market today.
Purplebricks Group PLC announced today the commencement of dealings in its Ordinary Shares on the Alternative Investment Market (AIM), Purplebricks aims to change the whole experience of selling, buying and letting residential property, by providing a transparent and superior customer service at a fraction of the cost of a traditional estate agent. The placing price…
Allen Walkey
House prices in Scotland strongest since 2007
Scotland House Price Index from Your Move for October. According to Your Move property prices advanced £1,600 (1%) in October, the steepest monthly climb since March, East Lothian sees biggest boost, as new homes developments push prices up 6.3% since September. Scottish home sales up 10% year-on-year, with highest October total for eight years, £30…
Allen Walkey
New tax for BTL and second homes in Scotland
It is not surprising that when George Osborne announced the additional 3% stamp duty for buy-to-let and holiday homes starting next April, there was little critiscm from over the border as there normally is when any new tax is introduced by Westminster. The Scottish Government has now also decided to introduce an additional 3% tax…
Allen Walkey
No to housing refugees
Is there now a change of mood re housing refugees following the Paris shootings and other recent terrorist incidents in USA and here in the UK? When the pictures of the child washed up on the beach were seen across Europe and the World just a few months back, there was an outpouring of emotion…
Allen Walkey
House Price Index for October
The House price Index for October released yesterday by the Office for National Statistics. UK house prices increased by 7.0% in the year to October 2015, up from 6.1% in the year to September 2015. House price annual inflation was 7.4% in England, 1.0% in Wales, 0.9% in Scotland and 10.3% in Northern Ireland. Annual…
Allen Walkey
Right to buy boosts home ownership
According to a recent press release from the Department for Communities and Local Government and Brandon Lewis MP, Right to Buy is boosting home ownership across the country. Nearly 270,000 households have now been helped to purchase a home through government backed schemes including Right to Buy and Help to Buy since 2010. This has…
Allen Walkey
England’s most expensive residential street
Victoria Road in West London’s Kensington, has been crowned the most expensive street in the UK according to research out last week from Lloyds Bank. Just around the corner from Kensington Palace in the the heart of Kensington, Victoria Road is now England’s most expensive residential street, with an average house price of £8,006,000, 12…
Allen Walkey
Rightmove predict 6% rise in 2016
According to Rightmove House Price Index report, the strongest December since 2006 and a forecast of 6% rise in 2016. In their latest report Rightmove urges first time sellers and financially-stretched landlords to sell by April, while first-time buyers may want to wait for a better deal until additional stamp duty on buy-to-let properties gives…
Allen Walkey
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