Category Archives: Buying

2m young working adults still live with Mum and Dad

Despite working, 48% of 20 to 34 year olds who live with their parents do so because they can’t afford to rent or buy their own home.

New research from Shelter found that a lack of affordable housing was the single biggest reason that so many young adults are unable to fly the nest. Currently a quarter of all 20 to 34 year old working adults in England – 1.97 million people – are living with their parents. Continue reading

Buyers cooling but Brits remain confident

Confidence in the housing market is split: the public have never been more optimistic about house sales, but conversely the outlook for the purchase market is at its lowest level since 2011, according to the latest quarterly Halifax Housing Market Confidence tracker.

The Confidence Tracker indicates that of those surveyed, 57% feel it will be a good time to sell in the next 12 months, exceeding those who think it will be a bad time (32%). Continue reading

Stamp duty will cost average homebuyer £7500 by 2016

At the current rate of house price growth (10% a year) the buyer of an average UK home will be subject to a 3% stamp duty tax rate before the end of 2016 according to a new report from haart estate agent.

An acute shortage of supply has eased as new homes for sale increased 5% annually and new buyer demand fell by 1.8%. Continue reading

144,500 buy first home so far in 2014

The number of first-time buyers in the first six months of 2014 reached their highest level since 2007, according to the bi-annual Halifax First-Time Buyer Review.

There were an estimated 144,5001 first- time buyers in the first six months of 2014, an increase of 25% on the same period last year – and also the highest total for the same six months period since 2007 (181,500). Continue reading

Commute for an hour and save £380,000 on house prices

Rail commuters to London are now seeing large financial benefits by catching the train, rather than living close to their place of work, according to the latest research by Lloyds Bank.

Homebuyers can get more for their money outside central London due to the lower price of property per square metre, and the further the commute, the greater the benefit. Continue reading