The average UK house now costs eight times the average national wage. But new research, carried out by online money-saving agent eMoov, shows that there are some places where you can buy a house for as little as three times the average salary in the area. Continue reading
Oxford is the toughest town for first time buyers to get a foot on the UK property ladder, taking over from Brighton as the country’s premium property hotspot. Bradford & Hull, on the other hand, proved the most affordable, according to new analysis by job search engine Adzuna.co.uk.
The research shows that nearly three quarters (72%) of homes in Bradford fall within financial reach for first-time buyers on average local incomes. London, High Wycombe, Reading and Brighton are amongst the most unaffordable places to purchase first properties as wages stagnate and property prices soar across Britain. Continue reading
Interest from UK house buyers has dropped for the first time since March 2015, as uncertainty continues to affect the market, according to the latest RICS UK Residential Market Survey.
Following the buy-to-let rush that preceded the 1 April tax rise deadline, and with continued uncertainty caused by the EU Referendum, interest from buyers dropped in April with 22% more chartered surveyors reporting a drop in demand. Continue reading
Buy-to-let investors and second-home owners were behind three in five property purchases made in Prime London during Q1 2016, boosting the proportion of purchases made in cash, according to estate agent Marsh & Parsons’ latest London Property Monitor.
Accounting for 36% of all sales from January to March, buy-to-let investors were the most prolific type of buyer across Prime London in the three months immediately preceding the April 1st implementation of an additional 3% Stamp Duty. This represents a significant spike from 26% of purchases during the previous quarter, and a sudden reversal of the recent trend of weakening investor influence. Investor share of the market has been in slow decline last year since it peaked at 37% in Q4 2014.
The Telegraph reports UK property asking prices have hit an all-time record high of almost £300,000.
House sellers so far this month have been seeking an average of £299,287 across England and Wales, according to property website Rightmove. Continue reading
According to Metro If your street has the name Warren or Chase in it is likely to be worth more…