A daily roundup of all the key property news. A report from the Resolution Foundation has warned that growing numbers of families on low and middle incomes will be less able to weather possible economic shocks than they were before the 2008 financial crisis. A decade of weak income growth has left more families with savings to draw on in an emergency,
A daily roundup of all the key property news.Semi-detached properties have proven to be the most profitable homes to own in the UK since before the credit crunch 10 years ago, according to Springbok Properties. These homes have soared in value from the average house price of £162,201 following the financial crash to £291,087 today.
A daily roundup of all the key property news. UK house price growth fell to 0.3% annually in July, remaining below 1% for the eighth consecutive month, according to Nationwide’s latest data, leaving the average UK house price at £217,663. Jeremy Leaf, north London estate agent and a former Rics residential chairman, warned that favourable conditions are being curtailed by the continuing Brexit uncertainty.
A daily roundup of all the key property news.The number of UK mortgage approvals hit 66,400 in June, up from 65,650 in May, according to the Bank of England's latest data, above economists’ expectations and the highest number since January. In addition to a small boost from dodging a no-deal Brexit in March, record employment, sustained wage growth and low interest rates have boosted demand.
A daily roundup of all the key property news and views. The number of homes being bought, renovated and sold on for profit has dropped 70% over the last 15 years as the property market cools.A report fromHamptons International has found that 18,630 homes were “flipped” across England and Wales last year, against 60,340 in 2004.
A daily roundup of all the key property news. House values in the UK have grown by an average £11 a day since January, according to analysis by property website Zoopla. An average of £2,046 was added to each home in six months.
A daily roundup of all the key property news. High street banks agreed more than £50bn of mortgages to homebuyers in the first half of the year, up 10% on the first six months of 2018 and setting up lenders for their biggest year since 2007, according to data from UK Finance. The loans were offered to almost a quarter of a million homebuyers in the first six months, up 6% on the first half of 2018.
A daily roundup of all the key property news. Monthly HMRC statistics have shown that British residential property sales fell to 84,490 in June, over one-sixth down on the same period last year and a 9.6% monthly drop between May and June this year. With the property market apparently taking a “wait-and-see” attitude as Brexit-related uncertainty continues,
A daily roundup of all the key property news.The next prime minister has been urged to extend the government’s Help to Buy scheme, following fears that its end will cause a slowdown in the housing market in parts of the country. The scheme has accounted for more than 80% of home sales in the past 18 months in 22 local authorities, according to Cushman & Wakefield,
A daily roundup of all the key property news.The number of mortgages with a term of more than 40 years rocketed in 2018, rising over 20-fold to 3,483 from just 162 in 2017, according to analysis of Financial Conduct Authority figures by Ludlow Thompson. It said high levels of competition in the mortgage business had pushed firms to react “to the demand for lower monthly outlays by providing increasingly long-term mortgage products”.
A daily roundup of all the key property news. The formation of a new regulator that would oversee a new regime for all property agents has been suggested by the Regulation of Property Agents working party, which will be held responsible for a statutory code of practice, and to devise a syllabus for a modular approach to the qualifications which will be required for letting and estate agents
A daily roundup of all the key property news.Detached homes in London fell in value by more than £50,000 in a year, according to official figures, driving the slowdown in UK house price growth. Typically, this type of property cost £903,088 in May last year, but fell by 6.1% to £847,998 by this May, Land Registry figures show.
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