Breaking News
25% rise in mortgage approvals in November
The number of UK mortgage approvals in November rose 25% to 76,295 compared to a year ago, according to the British Bankers’ Association last thursday. A 20% increase in loans for house purchases was seen, a figure of 44,960 was recorded, this was below the estimates of 46,000, remortgaging surged 31% last month to 23,446…
Allen Walkey
Fewer young people own their own home.
According to data obtained by Labour it reports that the percentage of young people in the UK who own their own home is at its joint lowest level since 1996, suggesting that only 44.9% of 20 to 30-year-olds are homeowners Predictions for next year expect property price growth to continue and to outpace wages in…
Allen Walkey
Opposition to tax relief changes for landlords.
It was announced this year by George Osborne that from 2017 the tax relief at 40% or 45% presently enjoyed by landlords on their mortgages on buy-to-let property will be cut to a flat rate of 20%. This has been seen as unfair by some in the industry, a recent report in The Guardian reports…
Allen Walkey
Buy-to-Let becomes less attractive as an investment.
It would appear that buy-to-let as an investment is becoming less and less attractive, that is the opinion of the Chief Executive of Hargreaves Landsdown Ian Gorham who was quoted in the Mail on Sunday as saying a buy-to-let investment is just too expensive and too much like hard work. The year 2015 has certainly…
Allen Walkey
Savills Estate Agency selling Tom Cruise’s Countryside Estate.
An iconic film star and a wonderful countryside estate – Match made in heaven perhaps yet supposedly this has come in to play via Tom Cruise and Savills Estate Agents. Maybe just rumours or Chinese Whispers, but the property is up for sale for £4,950,000 via Savills on the property portal Rightmove though is not visible…
Christopher Walkey
Merry Christmas Everyone.
A very Merry Christmas to all our readers and our advertisers.
Allen Walkey
Plans to deregulate social housing sector.
Speaking at the Communities and Local Government Committee meeting about the housing association sector and the Right to Buy, Brandon Lewis has announced a deregulation package for the social housing sector. A change to the approach on high income social tenants, this will now be voluntary for housing associations and this is to make the…
Allen Walkey
TV’s Sue Perkins is the new voiceover for OnTheMarket.com’s TV advert
Comedian, broadcaster, actress and writer Sue Perkins has recorded a new voiceover for OnTheMarket.com’s TV advertisement. Following its successful advertising campaigns throughout 2015, OnTheMarket.com will be ensuring it continues to target genuine property-seekers with another round of national TV advertising from December 26 which will continue throughout the new year. The refreshed advert will be…
Fall in property sales in November
Homes sold in the UK fell sharply in November, according to the latest figures from HM Revenue & Customs (HMRC), completed sales dropped from 122,000 in October to 106,000 last month. The figure was still higher than for November last year, residential sales for the first eleven months of 2015 are almost identical to those…
Allen Walkey
Property prices in Wales to outpace London
According to the Royal Institute of Chartered Surveyors (RICS), Wales will be one of the strongest areas of the UK for transaction levels in the coming year, alongside the North East, Scotland and Northern Ireland. Analysts at the RICS indicate that house prices in Wales will rise by 6%, while London will see just a…
Allen Walkey
Bellway South West division set to expand.
According to an article in the Bristol Post, House Builder Bellway Homes who launched a new South West division in Bristol in August, is set to double their number of staff as the housing market continues to pick up. At an event to celebrate the new regional headquarters Managing Director for Bellway South West, Paul…
Allen Walkey
Landlord licensing scheme rejected for Redbridge.
In June this year Redbridge Council approved borough-wide landlord licensing, approval to implement this scheme was then requested from the Department for Communities and Local Government. Following widespread opposition from landlords, Redbridge Renters started its own campaign urging tenants to share their experiences to bolster its support for licensing, at that time the group highlighted…
Allen Walkey
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