Prices in the prime housing markets of London fell marginally in the first quarter of 2015, according to the latest research from Savills.
This follows an average 2.6 per cent price adjustment in the final quarter of 2014, triggered by the stamp duty reform announced in December’s Autumn Statement, and means that the 12-month rolling prime London average has slipped into negative territory. Continue reading
According to the latest research by property website Zoopla, Labour leader Ed Miliband is the only main UK political party leader who owns and lives in a ‘mansion’, according to his party’s definition, based on the proposed Mansion Tax for properties valued at over £2m.
Miliband’s North London home is now worth £2.73m, more than three times the average in the area, according to Zoopla. Continue reading
Seven green spaces across the capital are to be transformed with funding from the Mayor of London, after thousands of Londoners backed them in an online poll.
The projects, which aim to improve local green spaces, were shortlisted for funding by the Mayor’s Big Green Fund II in January. Continue reading
Scottish rents are rising at their slowest pace for over two years, according to the latest Scotland Buy-to-Let Index from Your Move, one of Scotland’s largest lettings agent networks.
The average monthly rent in Scotland has risen just 1.1% in the year to February 2015 – representing the smallest annual increase experienced since April 2013. Continue reading
Over the past two years average house prices have increased by more than the average employee’s net earnings1 in almost one in five – 73 out of 384 – local authority districts (LADs) across the UK, according to the latest Halifax research.
The vast majority of these areas are in London, the South East, and East, representing 68 of the 73. The largest difference was in Hammersmith and Fulham, where house prices increased by an average of £199,930 over the last two years, exceeding average take-home earnings in the area by £143,232. Eight London boroughs appeared in the top ten. Continue reading
The sky-high cost of housing is preventing nearly a quarter of 24-39 year olds from starting a family, new research shows.
As a home of their own becomes a distant dream for many, figures from Shelter and YouGov show prospective parents across the UK are putting off having children because housing is so expensive, with 57% of them waiting for up to five years to start a family. Continue reading
The Council of Mortgage Lenders estimates that gross mortgage lending reached £13.4 billion in February.
This is 9% down on both January and on last February, in both of which months £14.8 billion was advanced. This is the lowest monthly estimate for gross mortgage lending since April 2013 when lending totalled £12.4 billion. Continue reading
Average house prices rose £1,600 (1%) in a month, surpassing May 2008 peak in recovery milestone according to the latest Your Move Scotland House Price Index.
Fife and West Lothian joined the ranks of the record-breakers, setting new peak house prices in January. Continue reading
The introduction of help to buy ISAs was the major housing news in George Osborne’s final Budget announcement before the election. CIH interim chief executive Gavin Smart’s gives his initial take on the initiative.
“We are in the grip of a severe housing crisis. For decades we have failed to build enough new homes to keep up with our growing population, and the gap between the haves and have nots is getting bigger all the time. For many people, affording a decent, suitable home either to rent or buy is a distant dream. Continue reading
Borrowers with smaller deposits accounted for the largest portion of house purchase lending in five months in February, according to the latest Mortgage Monitor from e.surv.
Higher LTV house purchase approvals (loans to borrowers with a deposit of up to 15% of the total value of their property) made up 16.9% of house purchase approvals in February, a significant proportional increase from 15.3% in January and just 13.9% in December. Continue reading