Foxtons upbeat about second half after pre-election jitters slowed property sales July 29, 2015 Blood on the residential street? Revenues at London estate agent Foxtons have dropped in the first half, as property sales slide. The figures: Group revenue at the agency fell 2.3 per cent to £71.1m for the six months to 30 June, while property sales fell 10.9 per cent against 2014, when the market was operating [...]
Time to move to Chatham? Best value commuter towns cut thousands off London house prices July 29, 2015 A one hour commute can knock around £450,000 off the average price of a house, according to new research published today by a major UK bank. Towns which are an hour’s commute from central London, which include Crawley, Newbury, Colchester and Chatham have an average property price of £272,000 – a significant contrast to the average [...]
Buy-to-let enthusiasm can drive new supply if we demolish housing barriers July 28, 2015 It was at the time of another landmark Budget – Nigel Lawson’s in 1988 – that the UK’s rental market as we know it first began to emerge. The Housing Act’s deregulation measures of the same year, notably liberalising rents, set the scene for rapid growth in the private rented sector. This was fuelled by [...]
London house prices: Both buyers and renters suffer brunt of affordability crisis July 28, 2015 London house prices were 9.2 per cent higher in June than the same month last year, according to figures published by the Land Registry today. The capital outpaced the rest of England and Wales, where price growth averaged 5.4 per cent. Renters are not faring much better either. Average rents in London climbed to £699 [...]
UK house prices: MPs form new cross-party group over housing crisis July 27, 2015 Members of Parliament from across the political spectrum have banded together to tackle the housing crisis as a new report shows first-time buyers are bearing the brunt of rapidly increasing house prices. The new all-party parliamentary group (APPG) for housing and planning, which includes Tory and Labour MPs, as well as cross-bench peers, will [...]
David Cameron promises new crackdown on corrupt London home buyers driving up house prices July 27, 2015 Prime Minister David Cameron will today vow to stop the UK from becoming a haven for “dirty money”. He promises to reveal corrupt offshore organisations that purchase high-end London properties using “laundered cash”, which increase prices, exacerbating the capital’s affordability crisis. “I want Britain to be the most open country in the world [...]
London house prices: The north-south divide emerging in the capital’s property sector July 27, 2015 One interesting factor in new figures published today (more on that here) is a sign growth in house prices is slowing in parts of London. In fact, it looks like there's a north-south divide emerging – and in this case it's grim down south. The figures, by Haart estate agent, showed while prices across the [...]
UK house prices: The average cost of a home for first-time buyers increased £138 a day in June July 27, 2015 Despite all George Osborne's efforts, it looks like first-time buyers are bearing the brunt of the increase in house prices again, after new figures showed the average price of a first-time buyer home leaped by £4,150 in June. That's £138 a day. Read more: Thinking of leaving London? These are the best commuter towns to move [...]
London house prices are being driven up by foreign criminals laundering money July 25, 2015 Foreign criminals who launder money through the purchase of high-end London properties are pushing up house prices, according to the National Crime Agency. "I believe the London property market has been skewed by laundered money," Donald Toon, the agency's director of economic crime command, told the Times. "Prices are being artificially driven up by overseas [...]
Which banks will offer the Help to Buy Isa? Barclays, Lloyds Banking Group, Nationwide, NatWest, Santander and Virgin Money July 25, 2015 Barclays, Lloyds Banking Group, Nationwide, Natwest, Santander and Virgin Money are among the banks and building societies which will offer the government's widely anticipated Help to Buy Isa. Help to Buy Isas, unveiled by chancellor George Osborne in his Spring budget, aim to give first-time buyers a much needed helping hand onto the property ladder. [...]