Breaking News
Client Money Protection Scheme Amendment
It is estimated that letting agents currently hold approximately £2.7 billion in client funds on behalf of renters and landlords, this can be for a for a range of reasons, including deposits, rental payments, and money for repairs. If the letting agent is not part of a Client Money Protection scheme (CMP) clients could possibly…
Allen Walkey
Persimmon plc half year results
Persimmon plc today announces half year results for the six months ended 30 June 2016. Profit before tax increased 29% to £352.3m (2015: £272.8m) Jeff Fairburn, Group Chief Executive, said: “Persimmon’s robust trading performance in the first half of 2016 was driven by our continued focus on meeting market demand to deliver controlled sustainable growth….
Allen Walkey
Countrywide Lettings Index August 2016
Countrywide Lettings Index August 2016 released Monday August 15th 2016 headlines ‘London rental growth slows’. Rents in London 0.5% lower than in July 2015. Stock surge sees the number of homes available to rent in Great Britain rise 23%. Demand from tenants increases too, with 10% more searching for a home to rent. Rents across…
Allen Walkey
Waterfords appoints new Land Director
Local award winning estate agent Waterfords, covering parts of Surrey, Hampshire and Berkshire, is delighted to announce the appointment of Tim McEvoy to the position of land director, effective immediately. With over 30 years’ industry experience, Tim will work alongside Waterfords’ other land director, Gary Brook, to develop and promote the company’s land pipeline across…
Christopher Walkey
Housing benefit paid to private landlords doubles.
A study undertaken by the National Housing Federation (NHF) reveals that private landlords hauled in £9.3bn in 2015, that is double what the level was ten years ago, they said the figure was due to a huge increase in private tenants who are receiving housing benefit. NHF chief executive David Orr said: “It is madness…
Allen Walkey
Average house prices rise by 8.7% in year to June
Facts about housing published by the Office for National Statistics (ONS) 17th August 2016. The steady rise in the cost of buying a home shows no sign of abating, as ONS figures reveal that average house prices have risen by 8.7% in the year to June 2016. The average house price as of June 2016…
Allen Walkey
LANDLORDS RESPOND TO RISING COST OF HOUSING BENEFIT
Responding to the findings from the National Housing Federation* (NHF) about the cost of housing benefit in the UK, Richard Lambert, Chief Executive Officer at the National Landlords Association (NLA), said: “Housing benefit is not a subsidy to landlords; it’s a support for tenants to ensure they can pay for their housing. However, the…
Christopher Walkey
Mortgages in arrears continue to fall
A recent news report from The Council of Mortgage Lenders (CML) headlined ‘Arrears and possessions continue to fall’. The number of mortgages in arrears continued to fall in the second quarter of this year, and is now at its lowest level since records began more than 20 years ago. Data from the CML show that…
Allen Walkey
Aldermore launches changes to BTL product range
Aldermore launched yesterday two limited edition changes to its standard buy-to-let (BTL) product range. The changes are: 3.18 per cent to 70 per cent LTV (loans up to £1m) 3.25 per cent to 75 per cent LTV (loans up to £600,000) The loans are available for private individuals on purchases and remortgages, they both have…
Allen Walkey
Estate Agents warned over ‘Portal juggling’
A recent article on the nationaltradingstandards.uk website headlines Estate Agents warned over ‘portal juggling’ It leads… Illegal practice that misleads homebuyers on property websites in the spotlight”. Estate agents who deliberately mislead potential homebuyers through the practice known as ‘portal juggling’ are being warned that they could be prosecuted and face a ban from working…
Allen Walkey
UK House Price Index (HPI) for June 2016
The UK House Price Index (HPI) for June 2016 from the Land Registry. The UK House Price Index shows house price changes for England, Scotland, Wales and Northern Ireland. The June data shows an annual price increase of 8.7% which takes the average property value in the UK to £213,927. Monthly house prices rose by…
Allen Walkey
NLA BACKS SELECT COMMITTEE REPORT ON HOMELESSNESS
Commenting on calls for a renewed strategy for tackling homelessness by the Communities and Local Government (CLG) Select Committee, Richard Lambert, Chief Executive Officer at the National Landlords Association (NLA), said: “The NLA welcomes the CLG Committee findings, and its recognition that private landlords play a crucial role in preventing homelessness. “We are delighted that…
Christopher Walkey
Fitch ratings report UK Property Sector……
Fitch Ratings report-London-16 August 2016 headlines ‘UK Property Sector May Face Long-Term Brexit Pressure’ The UK vote to leave the EU could translate into longer-term negative sentiment for the UK property sector, but is unlikely to directly lead to near-term rating downgrades, Fitch Ratings says. Uncertainty over the form and timing of Brexit will weigh…
Allen Walkey
UK House Price Index England June 2016
UK House Price Index England June 2016 from the Land Registry published yesterday 16th August. Headline Statistics: The average price of a property in England was £229,383 The annual price change of a property in England was 9.3% The monthly price change of a property in England was 0.8% The index figure for England was…
Allen Walkey
Shortage of family housing for rent.
A recent news report by Belvoir Lettings posted on their website headlines ‘Stats reveal family housing in short supply’. According to their Q2 rental index it revealed that almost 75% of the Belvoir Network reported a shortage of family housing for the rental market. The survey of Belvoir franchise owners showed a lack of 3-bed…
Allen Walkey