The average price of a new home was £236,122 in April 2013, compared to £231,797 in March, rising 1.9% over the month.
Annual growth escalated by 4.1% in April. The average price of a new home is now £9,263 more than the same time last year. Continue reading
Records are tumbling this month, with property coming to market setting a new record national average asking price.
This month’s 2.1% (+£5,135) rise has left the national average just shy of a quarter of a million pounds at £249,841, surpassing the previous high by £3,606. London, the South East and East Anglia have also hit all-time highs, with buyers in the capital facing new sellers’ average asking prices in excess of £500,000 for the first time. Continue reading
A fundamental review of housing design is needed if the UK is to produce successful low carbon homes of the future, a new guide by the NHBC Foundation advises.
The report is the 50th produced by the NHBC Foundation and is the fourth in a series of guides intended to help house builders and designers understand the issues presented by low-energy homes without proposing a specific model for what a 21st Century home might look like. Continue reading
Rents in April increased to the highest level since November 2012, according to the latest Buy-to-Let Index from LSL Property Services plc, which owns the UK’s largest lettings agent network, including national chains Your Move and Reeds Rains.
The average rent in England and Wales has risen by 0.2% since March, to £736 per month. Continued growth leaves rents in April 3.9% higher than a year ago, almost as fast in March when rents were 4.2% higher year-on-year. Continue reading
Home owners in prime Central London are currently benefiting from price growth of £383 per day, the equivalent of a return air fare to New York City or Dubai, reports property consultant Cluttons in its latest Residential Investment Monitor Q1 2013.
Following a slowdown in both the sales and lettings markets during Q4 2012, the prime Central London residential market has turned a corner, with positive growth recorded across all London regions. Continue reading
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