Why the housing minister merry-go-round is hurting the industry February 18, 2020 When Boris Johnson sacked housing minister Esther McVey last week, people working in the sector could have been forgiven for reacting somewhat wearily. Her replacement, Christopher Pincher, is the tenth person to hold the job in the last decade, and the nineteenth since 2000. It is, by some distance, the worst churn experienced by any [...]
Strong homes performance keep MJ Gleeson on track despite loss February 13, 2020 Urban housing regeneration firm MJ Gleeson has reported strong performance from its homes division for the half-year. The company registered an operating profit of £15.9m in this sector during the first half of the year 2019/20, up from £14m in the comparable six month period, a 13 per cent increase. However, overall profit after tax [...]
Want to encourage downsizing and free up the housing market? Reform stamp duty February 13, 2020 With the first post-Brexit Budget fast approaching, there are huge hopes, expectations, and indeed demands across industries and sectors — but perhaps few areas are more important than solving the housing crisis. As Boris Johnson’s team focuses on delivering their manifesto promises, including building 300,000 homes a year by the mid-2020s, it’s worth remembering that [...]
DEBATE: Should the Treasury consider a ‘mansion tax’ to help fund spending commitments? February 13, 2020 Should the Treasury consider a ‘mansion tax’ to help fund spending commitments? Robert Palmer, director of Tax Justice UK, says YES Do you know who pays more in council tax: me in my two-bedroom flat in Kentish Town, or the owner of the £160m penthouse at the top of 1 Hyde Park? Astonishingly, the answer [...]
UK house prices rise 1.9 per cent as buyers hail 2020 ‘Boris bounce’ January 29, 2020 UK house prices grew at their fastest rate in over a year at the start of 2020, according to Nationwide, as experts hailed Boris Johnson’s election victory. The housing market posted a 1.9 per cent annual rise in January, beating December’s 1.4 per cent climb. That followed 12 months of consecutive growth below the one [...]
UK house prices: Post-election surge breaks records January 20, 2020 The decisive result of the General Election sparked a record-breaking surge in UK house prices in December and January, in the latest sign that the UK housing market has been revitalised by a “Boris bounce” There was a 2.3 per cent monthly surge in the average price of property coming to the market between 8 [...]
House prices 2020: How will the UK property market fare next year? December 26, 2019 It’s been a rocky year for the property market, as protracted political uncertainty and affordability problems left house prices largely stagnant in London and across the UK. But with a resounding victory for Boris Johnson in the General Election earlier this month, and the prospect of an end to the Brexit saga in sight, 2020 [...]
The green belt cannot remain sacred if we are to solve London’s housing crisis December 13, 2019 With the General Election over and the nation reflecting on the result, the focus on politics in the capital is far from over, as 2020 sees Londoners turn their attention to the race to be the next mayor. Among many key issues for discussion ahead of May’s election will be housing shortages, particularly the thorny [...]
Housing market ‘in limbo’ as London house prices drop 1.4 per cent October 16, 2019 London house prices booked a steep 1.4 per cent annual drop in August as UK house prices grew at a lower level than last year, according to the latest data. While UK house prices posted annual growth of 1.3 per cent to beat that of 0.8 per cent in July, growth dipped below last year’s [...]
UK house prices grow nearly three times quicker than salaries since 2008 October 1, 2019 UK house prices’ growth over the last decade has vastly outsripped that of people’s salaries, with property value increasing in value nearly three times faster than the wages of their occupants, according to research. The average UK home has risen around 43 per cent in value between 2008 and 2018, from £160,954 to £229,861. But [...]