Property values in prime areas of London have increased by a substantial 12.8% in the past year, following a rise of 3.6% during the first quarter of 2013, according to estate agent Marsh & Parsons’ latest London Property Monitor.
But it is actually the areas of Non-Central Prime London that have experienced the most dramatic growth, as a relative lack of supply pushes buyers and investors further afield. Continue reading
Stamp Duty revenue generated from property sales in London has the potential to deliver a 91% increase in the number of affordable homes built in the capital each year, reports leading housing association Network Housing Group.
The London Finance Commission’s report Raising the Capital, released today, recommends wide reaching changes to tax raising and spending, including calls for the Mayor to be given control over business rates, stamp duty and other taxes. Continue reading
In a further sign of strength in the housing market, research from property website Zoopla.co.uk reveals that the number of properties currently for sale that have been reduced in price since first coming onto the market has fallen to its lowest level in almost three years.
The proportion of properties for sale that have had their asking price dropped at least once now stands at 30.7%, down from 34.3% twelve months ago. Continue reading
While the Edinburgh and Lothians continues to see an upturn in buyer activity, the average price of a property in Edinburgh sold between February and April this year was £199,382 – down 4.6 per cent from £209,065 a year ago, according to the latest figures release by ESPC, the leading property marketing company.
In East Lothian and Midlothian there was very little movement in prices. Continue reading
Knight Frank analysis shows that average property prices within a 10-minute walk of the central Crossrail stations have risen by 30% since 2008, outperforming the prime central London market by 8% over that time.
Between now and 2018, prices in these areas are forecast to rise by an average of 40%. Continue reading
The price of a typical home declined by 0.1% between March and April, but was 0.9% higher than April 2012, according to the latest Nationwide House Price Index.
The typical UK home is now worth £165,586. Continue reading
While most young people are struggling to get on the property ladder, some over 50s are clinging on to the last rung.
Research by The Saga Equity Release Advice Service shows that more than a million over 50s are set to face a shortfall when it comes to paying off their interest only mortgage. Continue reading
A new £6million competition aimed at getting renewable heating kit into the homes of social tenants across Great Britain has been launched by the Department of Energy and Climate Change.
This new competition, part of the extended Renewable Heat Premium Payment (RHPP) scheme announced in March this year, will help registered providers of social housing to install heat pumps, solar thermal panels and biomass boilers. Continue reading
The average price of luxury homes in the world’s key cities fell by 0.4% in the first quarter of 2013 although the annual rate remained positive at 3.6%, according to the latest data from Knight Frank.
Cities in Europe remain the weakest performers, recording a fall of 2.3% on average, while Jakarta (up 38.1%) was the strongest performing prime residential market. Continue reading
Appetite for buying land among house builders, property companies and PLCs alike has increased this year, as housing market activity remains positive, new analysis from CBRE reveals.
Land buyers are seeking land with planning consent to add to their reserves, although good quality land in UK regions is of short supply. Land values in most regions have shown slight growth over the first Q1, mirrored by tentative signs of increased activity in the housing market. Continue reading