Mortgage rates lowest since 2007 December 15, 2014 Record price cuts have taken mortgage rates to their lowest rates since 2007, a mortgage broker said today. The average interest rate on two- year tracker mortgages – that track some interest rate, typically the Bank of England’s base rate – dropped by 0.28 per cent to 2.38 per cent in the three months to [...]
Barratt, Taylor Wimpey and Bellway among 16 national house builders to sign up to government’s Starter Homes initiative December 15, 2014 Some of the UK's biggest property developers have signed up to a new government scheme designed to help first-time buyers get a foot on the ladder. Avant, Barratt, Taylor Wimpey and Bellway are among 16 house builders to have put their name to the scheme, which offers first-time buyers under the age of 40 [...]
London house prices drop £30,000 in a month: Which borough was hit hardest? December 15, 2014 The housing market in the UK cooled by its highest amount (in pounds) on record, according to data from Rightmove. Greater London was the region that suffered most, with a drop of -5.1 per cent between November and December 2014. It may not be the biggest percentage drop (that was East Anglia with -5.7 per cent) [...]
UK house prices suffer biggest drop on record, with London average falling £30,000 in a month December 15, 2014 The fall in house prices in England is accelerating, with prices in some regions falling by five digits. The national drop of almost £9,000 (to £258,424) is the largest ever when measured in pounds, according to new data from Rightmove. Although the more accurate percentage drops aren't record breaking, they are still pretty big. According to [...]
David Cameron launches 20 per cent discount scheme for new homes December 14, 2014 David Cameron will today launch a starter home scheme for first-time buyers, offering a 20 per cent discount on newly-built properties. The policy, announced by the Prime Minister at the Conservative party conference earlier this year, was set to be a manifesto pledge, but is instead being unveiled six months earlier than planned. Buyers under [...]
UK house price lull could be over as lending picks up December 11, 2014 The recent slowdown in house price growth may have already ended, a new set of data shows. House price growth accelerated to 11.3 per cent in November from 11 per cent in October, according to figures released today by LSL property services. The growth rates were lifted by London and the south east. “After a [...]
Stamp duty changes set to boost residential property sales December 10, 2014 The newly reformed stamp duty tax is set to boost residential sales, according to a Royal Institution of Chartered Surveyors’ (Rics) market survey released today. The surveyors are forecasting a sales boost of between two and five per cent. The reforms ended the so-called slab structure of stamp duty and reduced the tax burden [...]
Mansion tax fears and stamp duty changes send the world’s super-rich to London’s rental market December 7, 2014 Anxieties over the outcome of the 2015 general election and new stamp duty reforms are persuading the world’s super-rich to rent property in London rather than buy it outright, according to a new report. London’s lettings market has benefitted from a huge bump in prime rentals, with as much as 21 per cent of [...]
UK house prices: Berkeley Group brushes off lower growth to post 80 per cent profit growth December 5, 2014 UK house prices may have begun to slip from the meteoric growth levels seen earlier this year, but Berkeley group is still reaping the rewards. The British house building company reported a 79.9 per cent rise in profit before tax for the six months to 31 October, putting the figure at a healthy £305m. Revenue [...]
Estate agents in late-night stamp duty deal rush after Autumn Statement tax band change December 4, 2014 It was the early hours of the morning in Hong Kong when the phone rang. The person whose phone was ringing grew angry over the caller’s persistence at such an hour, but any frustration probably subsided when the individual ended the night £20,000 better off than they would have been otherwise. The deal [...]