Category Archives: Buying

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

Code of Practice launched for newly-formed property buyers group

Some of the UK’s largest and best-known property buying companies have collaborated with the Property Ombudsman (TPO) to create a new Code of Practice1 to address the issues raised in the Office of Fair Trading’s (OFT) market study into the ‘Quick House Sale’ sector2.

The OFT study into companies that purchase properties directly from consumers strongly recommended the sector adopt a form of self-regulation, which spurred several property buying companies to become founding members of a new trade body, the National Association of Property Buyers (NAPB). Continue reading

Sharp rise in homeowner equity set to tip supply scales

First time buyers in London, undeterred by property prices rises have reached a new annual high with registrations up 55.3% annually according to new research from haart.

Latest mortgage data shows first time buyers now make up 46.4% of all mortgages written helping to buoy the national property market with a 21.3% increase in property sales. Continue reading