Breaking News
Wealthy Chinese look to UK property market
In recent weeks the Chinese stock market has seen quite alot of turbulence with a drop of 20% recorded since mid June, this has had the effect of causing wealthy Chinese to start moving their money out away from stocks and shares in their own market to other investments, UK property is reportedly an alternative…
Allen Walkey
Strong demand for Canary Wharf development
Canary Wharf has to be one of the most desired places to live in the capital, in close proximity to central London, an array of pubs and restaurants and close to main underground station and what will be crossrail, no wonder when a new development of appartments came up for sale a couple of weeks…
Allen Walkey
How tax changes may affect landlords
Landlords may see a drop in their profits as changes that will limit the amount of tax relief they can claim on mortgage costs were announced in last weeks budget, relief will be restricted to the basic rate of income tax at 20%, to be phased in over 4 years from April 2017. Tax experts…
Allen Walkey
“Property Millionaires”
Zoopla the property company revealed through their research that the number of British homeowners with a property worth £1 million or more now stands at 524,306, an increase of 8.3% in the last year as property prices rise. In Britain there are now 10,958 streets where the average house price exceeds £1 million, 43% of…
Allen Walkey
MT Properties Central Limited Expelled from The Property Ombudsman for 2 years.
MT Properties Central Limited (MTPC), a sales and letting agent which operates in Birmingham, has been expelled from membership of The Property Ombudsman (TPO) for a minimum of two years after failing to comply with parts of the TPO Code of Practice for Residential Letting Agents. MTPC also failed to co-operate with the Ombudsman’s investigation…
Christopher Walkey
Changes to planning system in Britain,
Changes to the planning system in Britain will be part of a 90 page blueprint called Fixing the Foundations, Creating a more prosperous Nation, which will be unveiled today in Birmingham by George Osborne and business secretary Sajid Javid. These changes to Britains planning laws will be the centrepiece of what Treasury officials say are…
Allen Walkey
Shelter report on rent caps
The idea of capping rents would make life harder for tenants is a warning coming from the Housing Charity Shelter, this follows on from a report commissioned by them, researchers from the University of Cambridge said in that report that hard rent controls would remove landlords incentive to invest in their properties leading to poorer…
Allen Walkey
“Buy-to-let Tax cuts won’t put landlords off” says Waterfords.
Following the Chancellor’s summer Budget, in which he announced a substantial crackdown on mortgage interest tax relief, Brendan Cox of Waterfords says he does not think this will put people off investing in buy-to-let. The amount landlords can claim as relief will, from 2017, be set at the basic rate of tax – currently 20…
Christopher Walkey
What will the budget changes mean for the capital’s property market?
As George Osborne increases the inheritance tax threshold to £1m for married couples by 2017 and cuts mortgage interest relief on buy-to-let homes, Andrew Ellinas, Director of Central and North West London agency Sandfords, comments on what these changes will be mean for the Capital’s property market. “Changes to inheritance tax, allowing married couples and…
Christopher Walkey
Trading update from Barratt Developments
SHARES in housebuilders and estate agents dropped yesterday as the Chancellor announced plans to curb the booming buy-to-let sector by cutting tax relief. George Osborne announced in his summer budget that the amount landlords can claim on mortgage interest payments will now be set at the basic rate of income tax, currently at 20 per…
Allen Walkey
Martyn Baum appointed president of NAEA
Martyn Baum has been appointed President of the National Association of Estate Agents, taking over from outgoing president Simon Gerrard, the ceremony took place at London’s Savoy Hotel. Martyn who was born in Loughborough started out his career in property at the age of 16 as a trainee at John German, he then went on…
Allen Walkey
As predicted, Government shines light on buy-to-let to tackle housing crisis.
Prior to the Election in May 2015, Michael Riley, Director of Capital & Coastal, correctly predicted that despite which party came into power, it would only be a matter of time before the new Government “shone a light” on the buy-to-let industry as a way of tackling the lack of stock driving the country’s housing…
Christopher Walkey
Halifax report house price surge in June
According to the Halifax UK house prices picked up in the last quarter after two successive falls, with an unexpected month-on-month surge in June pushing the annual rate to 9.6%, the Halifax house price index showed prices jumped by 1.7% between May and June, the fourth consecutive monthly rise, this is contrary to other ecent…
Allen Walkey
Budget time again
The budget that will be announced today by George Osborne will be the first all-Conservative buget since 1996, it is expected that the Chancellor will take three years instead of two to reach his £12bn target for cuts. In a landmark commons statement the Chancellor will set the agenda for the five year parliament ahead,…
Allen Walkey
ARLA appoints new President
The Association of Residential Lettings Agents has appointed Peter Savage as President for the coming year, the outgoing ARLA president is Valerie Bannister, who is the national property director at Your Move, Savage said that he was overjoyed to take on the role of President. Peter is a long standing member of ARLA, having held…
Allen Walkey