Small property sales soar in hottest July for 7 years

July has reported a 50% rise in sales of smaller properties in Edinburgh, the Lothians and Fife contributing towards the highest overall sales for the month since 2007.

According to latest figures released today by ESPC the number of one bedroom homes sold rocketed between May and July while sales of three bedroom homes rose by a comparatively modest 22%. Continue reading

Tenants behaving badly insurer warns

The nation’s landlords are leaving themselves exposed to the country’s worst tenants by failing to carry out basic checks, insurer AXA has warned.

With the rental market’s peak season about to start, AXA reveals just how many of the UK’s estimated 8.3 million tenants are behaving badly and how poorly protected landlords really are when the worst happens. Continue reading

House buyers count the cost of quick viewings

People looking to buy a house in a highly competitive market are spending less time on property viewings and potentially missing out on signs of maintenance issues that could cause them financial pain down the line, according to new research from Aviva.

Home buyers in the past year spent on average just over half an hour in total looking round a property before making what is likely to be the biggest purchase decision of their lives. Continue reading

Glitz and glamour promised at estate agents ball

Ball gowns and DJs will be the order of the evening when Agents Giving hosts its very first ball on October 2nd 2014 at the prestigious Marriott Hotel, in London’s Grosvenor Square.

Billed as “an evening of celebration” to recognise the stellar fundraising achievements for the charity this year, it will be another opportunity for the estate agent industry to raise money for good causes. Continue reading

House sales recover to the highest level for 7 years

According to the latest LSL England and Wales House Price Index there were 90,000 house sales in July, an increase of 10% in a month as the market climbed back from April’s regulatory changes.

The average house price rose to £270,636 largely driven by growth in the South East and the average price in London rising to £560,386. Continue reading

Rents now more than a third of average monthly salary

A UK monthly rent now accounts for 33% of the average salary as monthly rents, excluding London, rose 4% annually to £689 according to a recent report from estate agent Sequence.

Across the UK six tenants are chasing every available property, the highest number since 2011. UK tenant applications rose 15% annually while the supply of rental homes drops 17%. Continue reading

Homeowner confidence high but mortgage concerns appear

UK homeowners remain very confident that property values will continue to rise over the second half of this year, but are concerned about mortgage availability as a result of new lending criteria following the Mortgage Market Review, according to the latest Zoopla Housing Market Sentiment Survey.

92% of homeowners surveyed expect UK property prices to increase over the next six months, slightly down from a four year high of 95% earlier this year. And amongst the 7,810 homeowners surveyed by Zoopla, the average prediction for house price growth over the remainder of the year currently stands at 7.6%. Continue reading