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
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
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
At £273,528, home values are now £34,192 higher than at the height of the housing boom in February 2008 according to the latest LSL Englanfd and Wales House Price Index
But over half of that value (£17,340) was added in the past year, following an annual rise of 6.8%. London buyers at the top-end of the market are bracing themselves for the General Election, but lower rungs of the property ladder keep moving. Continue reading
Property price growth in the English countryside is almost neck and neck with price rises in cities, according to the latest research from Zoopla.
Home values in towns and cities across the UK have increased by 5.7% over the last year, but rural England is hot on its heels with 5.1% annual property price growth in countryside areas over the same period. The average value of a rural home in England now stands at £264,338, £51,737 (24%) higher than the typical urban property outside of London. Continue reading
Young people and people on lower incomes are paying the price for the UK’s broken housing market according to a new report.
The extent to which housing is driving inequality and disadvantage is laid bare by the UK Housing Review 2015, published yesterday (Monday 9 March) by the Chartered Institute of Housing (CIH). Continue reading
Property sales in the first ten months of 2014 were 21% higher than in the same period in 2013, according to new research by Lloyds Bank. This was the highest for this period since 2007 with the numbers of sales in England and Wales during January through to October 2014 totalling 760,000.
There has been a considerable improvement in sales since the market reached the depth of its recession in 2009. Sales in the first ten months of 2014 were 60% higher than in the same period in 2009. Nonetheless, sales remained more than a quarter (27%) below the levels achieved at the height of the boom in 2007. Continue reading
House purchase approvals have seen the fastest month-on-month increase in over five-and-a-half years as the purchase mortgage market throws off the doldrums of recent months, according to the latest Mortgage Monitor from chartered surveyor e.surv.
There were 65,778 house purchase approvals in January. This represents a 9.1% increase from 60,275 approvals in December, the largest month-on-month increase since April 2009. Continue reading