Nationwide figures: UK annual house price growth lowest since June 2013 August 27, 2015 Annual house price growth has slowed to its lowest level since mid-2013 making property a little bit more affordable this month – but this isn't set to last. Nationwide figures released today showed house prices rose 3.2 per cent in the year to August, down from a 3.5 per cent increase a month earlier. On [...]
Bank of England governor Mark Carney’s interest rate rise comments prompted a flurry of house buying in July August 27, 2015 Bank of England governor Mark Carney's suggestion that the rate decision will "likely come into sharper relief around the turn of this year" has prompted a flurry of homebuying, new figures suggest. Demand for houses rose 4.1 per cent in the year to July, and 5.3 per cent in the last month alone, according to [...]
Government’s starter homes programme won’t help London’s first-time buyers August 27, 2015 Londoners hoping to buy their first home will not get much help from the government, according to a new report out today. In the report, Shelter, the housing and homelessness charity, takes issue with the government’s affordable house building policies, saying its flagship “starter homes” programme will fail to help most first-time buyers. Prime Minister [...]
UK housing market: Remortgaging spurred on by Bank of England interest rate hike threat August 26, 2015 Remortgaging has surged as the prospect of an interest rate rise leads homeowners to lock in better deals. The number of people switching to lower rates was 29 per cent higher in July than in the some month last year, figures released yesterday by the British Bankers’ Association (BBA) showed. “Savvy homeowners are snapping up [...]
London property prices: The Shard skyscraper smashes record for office rents as Leonteq Securities takes entire 26th floor August 25, 2015 A letting at The Shard skyscraper in London Bridge has smashed price records for the South Bank and the City, as the hunt for office space in the capital heats up. German-listed IT company Leonteq Securities is understood to have struck a deal to take the entire 26th floor of the tower for over £90 [...]
Homeowner remortgages surge as fears of base rate hike grow August 25, 2015 MORTGAGE borrowers are locking in record-low interest rates as the prospect of a rate rise and higher loan costs loom. The number of remortgage loans reached 46,423 last month, a massive 89 per cent jump on the same month last year and the most since November 2008, according to estimates from property services group LMS. [...]
UK property: Britain’s struggling pub trade is yielding opportunities for supermarkets and residential developers August 25, 2015 The Grotto Inn on the top of Monument Hill in Weybridge was a thriving pub before falling on hard times three years ago. It was forced to call last orders after succumbing to competition from nearby bars and pubs and has lain empty since – its windows boarded up and beer taps gathering dust. [...]
King of Soho Paul Raymond’s London property empire rises in value to £565m August 23, 2015 Soho Estates, the West End property empire of the late porn baron Paul Raymond, saw the value of its assets rise eight per cent to £565.6m last year. Raymond left the bulk of his estate to his granddaughters Fawn James, a director, and India James when he died in 2008, aged 82. The [...]
UK landlords hold onto property for longer: Average time to sell a rental home rises to 17 years August 23, 2015 Landlords are holding on to properties for longer than they were before the last recession, with the average time between a landlord buying and selling a property rising by five years since 2007, according to lettings giant Countrywide. The company, which runs 1,300 branches under 48 brands including Hamptons International, said that as well [...]
UK house prices: No respite in sight for the housing market August 21, 2015 The housing market shows no sign of easing up this summer with prices climbing and mortgage lending seeing its strongest month for seven years. City level house prices are seeing their fastest growth for over a decade, property market analysts Hometrack said today. It said asking prices had increased 4.3 per cent in the [...]