April 30, 2009

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Average rent falls with flats and houses at odds

Permalink: Average rent falls with flats and houses at odds
by Gill Montia

New research from Findaproperty.com shows that UK rents have fallen in the past year. According to the property website, the average monthly rent stood at £819 in April, down from £873 a year ago. The trend looks set to continue ...

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Nationwide report 0.4% fall in house prices in April

Permalink: Nationwide report 0.4% fall in house prices in April
by Kay Mitchell

According to the Nationwide, UK house prices fell by 0.4% in April taking the average price of a home to £151,861. The announcement follows the shock rise noted by the Nationwide in March after the building society reported a ...

April 29, 2009

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Average rents shows signs of recovery

Permalink: Average rents shows signs of recovery
by Gill Montia

Figures from Belvoir show that average rents across the firm's UK offices are similar to one year ago. The lettings specialist has over 140 offices throughout the UK, including Scotland, Wales and Ireland and chief executive, Mike Goddard, explains that statistics for ...

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Older tenant not necessarily more honest

Permalink: Older tenant not necessarily more honest
by Gill Montia

Research from the Letting Protection Service (LPS), which provides insurance and referencing services for landlords, has revealed an alarming level of dishonesty among older tenants, whom many landlords may regard as traditionally more honest than a younger demographic. According to ...

April 27, 2009

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Recovery hopes dashed as UK mortgage lending declines

Permalink: Recovery hopes dashed as UK mortgage lending declines
by Kay Mitchell

Figures released by the British Bankers' Association (BBA) today have revealed that mortgages for house purchases by the UK's major banks fell for the first time in four months in March. The BBA said the number of mortgages approved for ...

April 25, 2009

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“Bank of mum and dad” should invest in student property

Permalink: “Bank of mum and dad” should invest in student property
by Gill Montia

Braemore Property Management is urging parents with offspring seeking a university place to consider buying a property for student children to live in, instead of operating as the "bank of mum and dad" and helping out with ...

April 22, 2009

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CML: Mortgage lending up in March

Permalink: CML: Mortgage lending up in March
by Kay Mitchell

Figures released today by the Council of Mortgage Lenders (CML) have revealed that gross mortgage lending rose by 16% last month from February. According to the CML, a total of £11.5 billion was advanced during March, up from £9.9 billion the previous ...

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40% surge in house sales in March

Permalink: 40% surge in house sales in March
by Kay Mitchell

There seems to be a light at the end of the tunnel for the housing market after figures from HM Revenue & Customs (HMRC) revealed a rise of 40% in the number of homes sold in March, compared with February. ...

April 21, 2009

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Homeowners’ Mortgage Support Scheme launched today

Permalink: Homeowners’ Mortgage Support Scheme launched today
by Gill Montia

The Homeowners’ Mortgage Support Scheme (HMSS), details of which were announced last year, is now up and running. The new measures are aimed at homeowners who lose some of their income and allow up to 70% of mortgage interest payments to be ...

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Unemployment rising among tenants

Permalink: Unemployment rising among tenants
by Gill Montia

Unemployment among tenants is rising, according to a report by smartlandlord.co.uk. The property investment website bases its argument on figures showing over 40% of the UK’s two million job seekers are aged under 25 and therefore form part of the typical rental demographic. The firm's ...

April 20, 2009

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100% mortgages should not be ruled says MPC member

Permalink: 100% mortgages should not be ruled says MPC member
by Kay Mitchell

Kate Barker, a member of the Bank of England's Monetary Policy Committee (MPC) and a Government adviser on the UK housing market, believes 100% home loans should not be banished. These types of mortgages were extremely popular during ...

April 19, 2009

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Recession means three generations sharing a home

Permalink: Recession means three generations sharing a home
by Kay Mitchell

A study by Lloyds TSB Insurance has revealed a rise in the number of generations sharing a home An increasing amount of children, parents and grandparents are sharing a home as a result of rising living costs and more latterly, ...

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Rics launches consultation on estate agents’ fees

Permalink: Rics launches consultation on estate agents’ fees
by Gill Montia

The Royal Institution of Chartered Surveyors (Rics) is launching a consultation on the transparency of fees charged by estate agents. The body is currently gathering data from its members, which will form the basis of proposals that aim to benefit ...

April 17, 2009

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CML: 900,000 borrowers in negative equity

Permalink: CML: 900,000 borrowers in negative equity
by Kay Mitchell

Figures from the Council of Mortgage Lenders (CML) have revealed that falling house prices mean that 900,000 borrowers have entered negative equity. Since the housing market reached a high in summer 2007, house prices have plunged by almost 20%, which for those ...

April 16, 2009

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Mature students boost rental market

Permalink: Mature students boost rental market
by Gill Montia

The rental sector is receiving a boost in some of the UK's town and cities from mature students, many of whom may have lost their jobs in the credit crisis. According to buy-to-let mortgage specialist, Paragon, UCAS has registered a 12.9% increase in ...

April 15, 2009

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Rics: Housing market activity improving

Permalink: Rics: Housing market activity improving
by Kay Mitchell

A poll from the Royal Institution of Chartered Surveyors (Rics) has found that housing market activity is picking up after new enquiries increased for the fifth month in a row. Rics said interest from potential buyers is starting to gain "real momentum" as ...

April 14, 2009

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New mortgage lending up 4%

Permalink: New mortgage lending up 4%
by Gill Montia

The Council of Mortgage Lenders (CML) has reported a 4% rise in mortgage approvals for house purchases in February. During the month 24,300 loans were sanctioned worth a combined £3.1 billion. The figure compares with 23,400 loans in January worth £3.1 billion but ...

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LSR: Housing slump over by the end of 2009

Permalink: LSR: Housing slump over by the end of 2009
by Kay Mitchell

Lombard Street Research (LSR) is forecasting that the housing slump will be over by the end of the year and has claimed that house prices are now “affordable”. The organisation, classed as one of London's most prominent economic consultancies, ...

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Sales up at Stewart Milne Homes

Permalink: Sales up at Stewart Milne Homes
by Kay Mitchell

Housebuilder Stewart Milne Homes is benefiting from the renewed optimism in the Scottish housing market after experiencing a positive increase in sales on their quality homes since the start of 2009. Since the start of the year, the premium housebuilder said sales ...

April 13, 2009

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Landlords opt for distressed sales as refinancing tightens

Permalink: Landlords opt for distressed sales as refinancing tightens
by Gill Montia

Property Portfolio Rescue (PPR), which says it offers services to those "wishing to divest their residential property portfolios quickly and discreetly", has reported a sharp rise in inquiries. The firm received 3,321 approaches in the first three months of 2009 ...