February 29, 2008

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Housebuilder Redrow pre-tax profit down 35%

Permalink: Housebuilder Redrow pre-tax profit down 35%
by Kay Murchie

Redrow posted a 35% fall in half-year pre-tax profits and said the markets in which it operates remained 'clearly' challenging. The housebuilder, based in Flintshire, said pre-tax profits from continuing operations for the half-year to the end of December slumped to £35.8 ...

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Would-be landlords edged out of the market

Permalink: Would-be landlords edged out of the market
by Gill Montia

Financial website, Moneyfacts.co.uk, has taken a further look at recent figures from the Council of Mortgage Lenders that show a rise in the number of approved buy-to-let loans during 2007. While the lending figures support an optimistic outlook for the buy-to-let ...

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House price growth still slowing

Permalink: House price growth still slowing
by Kay Murchie

According to the latest Land Registry figures, house in England and Wales are still slowing down. The Land Registry said prices rose by 0.9% last month with the average property price at £186,045. However, the annual rate of increase continued to slow, ...

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Hips will emphasis dangerous asbestos problems

Permalink: Hips will emphasis dangerous asbestos problems
by Kay Murchie

The controversial and much talked about Home Information Packs (Hips) will now help to highlight problems with asbestos before a house purchase is finalised, according to the National Home Improvement Council (NHIC). The NHIC believes that problems with asbestos can be discovered ...

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Nationwide to offer 95% mortgage

Permalink: Nationwide to offer 95% mortgage
by Kay Murchie

It was recently announced that both Alliance and Leicester and Abbey withdrew their 100% plus mortgage range, these types of mortgages were high risk but meant that first-time buyers were able to get onto the property ladder and have money for stamp ...

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Housing Market Renewal programme revealed by the Government

Permalink: Housing Market Renewal programme revealed by the Government
by Kay Murchie

A new Housing Market Renewal programme has been unveiled by the Government which is to focus on areas where house prices have collapsed and abandonment is widespread. The new initiative will cost over £1 billion and is expected to ...

February 28, 2008

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Montenegro offers a favourable market for investment

Permalink: Montenegro offers a favourable market for investment
by Gill Montia

In the coming week, overseas property agent David Stanley Redfern, will be opening the show-home at its Lakeside Park development at Niksic, in Montenegro. Montenegro is one of the smallest countries in the world, and since ending its union with ...

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Barratt sees improved conditions in property market

Permalink: Barratt sees improved conditions in property market
by Kay Murchie

Housebuilder Barratt Developments said half-year, pre-tax profits increased by 10% to £194.6 million. The second-largest homebuilder by volume and No.3 by market value, echoed larger rival Persimmon by reporting improved market conditions after global financial market turmoil cooled Britain’s decade-long ...

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India promises strong capital growth

Permalink: India promises strong capital growth
by Gill Montia

Hamptons International, the UK international residential specialist, is releasing the latest phase of the Mohali Villas development, in Chandigarh. The properties are located just three hours north of Delhi and close to the foothills of the Himalayas. An earlier phase of Mohali Villas sold ...

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Tracker mortgages increasing in popularity

Permalink: Tracker mortgages increasing in popularity
by Kay Murchie

A tracker mortgage has an interest rate which follows the Bank of England’s base rate which means monthly repayments go up when the base rate goes up, and go down when the base rate goes down. These types of mortgages are growing in ...

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Government works towards making new homes carbon neutral

Permalink: Government works towards making new homes carbon neutral
by Kay Murchie

New build homes are to receive an energy rating from 1 May as the Government works towards its aim of making all new homes carbon neutral by 2016. New homes will be ranked according to the Code for Sustainable ...

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Changes to be made to key worker mortgage scheme

Permalink: Changes to be made to key worker mortgage scheme
by Kay Murchie

Key workers struggling to get onto the property ladder will benefit from a revised Government scheme. Changes made to the Open Market HomeBuy system will mean selected key public-sector workers will be able to take out a mortgage for ...

February 27, 2008

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Rental yields remain strong

Permalink: Rental yields remain strong
by Gill Montia

Leading estate agents, Savills, is predicting that buy-to-let investors can continue to expect sound rental yields. This view is based on the fact that the number of people renting in the UK continues to rise. In addition, the average period of time spent in rented ...

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Foreign investors looking to UK property

Permalink: Foreign investors looking to UK property
by Kay Murchie

Research from estate agent, Knight Frank, has established that foreign investors are helping to boost the UK housing market as it starts to cool. The agent revealed that 37% of property buyers in the £1 million to £2 million price bracket ...

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Solid growth in buy-to-let lending

Permalink: Solid growth in buy-to-let lending
by Gill Montia

Latest figures from the Council of Mortgage Lenders (CML) show that buy-to-let lending has continued to rise, despite fears of a crash in the market. In the second-half of 2007, buy-to-let lending totalled £24.1 billion, up from £20.8 billion in same period of ...

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Portugal’s qualities include high off-season yields

Permalink: Portugal’s qualities include high off-season yields
by Gill Montia

Overseas property and offshore investment expert, ShelterOffshore.com, is reminding investors that Portugal's property market is more stable and robust than some other popular European destinations. Rhiannon Williamson, director of the investment website, is urging Britons seeking an overseas property close to home ...

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Court challenge to unfair letting agency terms

Permalink: Court challenge to unfair letting agency terms
by Gill Montia

The Office of Fair Trading (OFT) is bringing a test case regarding letting terms against Foxtons, the estate agent. The agent, which is a mainly London-based, has been criticised for some of its operating methods, which the OFT believes breach ...

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Current housing conditions present opportunities for first-time buyers

Permalink: Current housing conditions present opportunities for first-time buyers
by Kay Murchie

According to Smart New Homes, the conditions in the housing market can offer huge opportunities for first-time buyers. The company believes that the average UK house price could start to increase as early as March. Hometrack, the housing intelligence business, ...

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Proposal to deal with housing crisis in Northern Ireland

Permalink: Proposal to deal with housing crisis in Northern Ireland
by Kay Murchie

A proposal to tackle the housing crisis in Northern Ireland has been revealed by Margaret Ritchie, the minister for social development. Increasing property values across the area have resulted in affordability issues and exacerbated the lack of housing. ...

February 26, 2008

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Persimmon announces record profits but cautious about prospects

Permalink: Persimmon announces record profits but cautious about prospects
by Kay Murchie

Housebuilder, Persimmon posted record profits for last year. It reported pre-tax profits of £585.1 million, a slight increase from the £582.1 million in 2006. The country's biggest housebuilder by market value and No.3 by homes built, said visitor numbers ...