December 31, 2009

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House prices rise for eighth consecutive month

Permalink: House prices rise for eighth consecutive month
by Kay Mitchell

According to the Nationwide, UK house prices have risen for the eighth month in a row. The building society said house prices rose by 0.4% in December compared with November, taking the average cost of a home to £162,103. Prices have continued ...

December 30, 2009

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Land Registry reports 0.9% rise in house prices in November

Permalink: Land Registry reports 0.9% rise in house prices in November
by Kay Mitchell

The Land Registry has reported a rise in house prices in England and Wales in November. According to the Registry, house prices rose by 0.9% in November compared with October putting the average cost of a home at ...

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Landlords positive in 2010 outlook

Permalink: Landlords positive in 2010 outlook
by Gill Montia

The latest quarterly index from Young Group suggests that 99% of investors in the UK private rental sector intend to hold their properties for the next 12 months. Furthermore, 49% said they intend to retain their assets for at least 10 years, ...

December 29, 2009

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Loophole closure means thousands saved from repossession

Permalink: Loophole closure means thousands saved from repossession
by Kay Mitchell

The closure of a legal loophole means that lenders will not be able to repossess a home unless they are in possession of a court order. Following a period of consultation, the Government plans to close the loophole that previously allowed ...

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Lack of new buyers slows house price growth in December

Permalink: Lack of new buyers slows house price growth in December
by Kay Mitchell

According to housing intelligence group Hometrack, the pace of house price growth slowed in December due to a lack of new buyers. The group said the number of househunters were down by 2.2% during the month, while the ...

December 24, 2009

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Foxtons to appeal against landlord fees judgement

Permalink: Foxtons to appeal against landlord fees judgement
by Gill Montia

Foxtons is proposing to appeal against a High Court ruling on landlord fees, The Times has reported. The Office of Fair Trading (OFT) won a High Court case against the London-based lettings agent in July, following complaints from landlords about the ...

December 23, 2009

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BBA: Mortgage approvals up in November

Permalink: BBA: Mortgage approvals up in November
by Kay Mitchell

The British Bankers’ Association (BBA) has today revealed a rise in the number of new mortgages approved by the major banks in November. According to the BBA, mortgage approvals for the month stood at 44,713, up 2,161 compared with October - ...

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Mydeposits.co.uk freezes deposit protection fees

Permalink: Mydeposits.co.uk freezes deposit protection fees
by Gill Montia

Mydeposits.co.uk is ignoring the fact that VAT jumps from 15% to 17.5% in January and is freezing the cost of deposit protection at today's prices. The insurance-based tenancy deposit protection scheme is promising new customers a joining fee of £57.50 because 2009 was ...

December 22, 2009

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HMRC: House sales fall in November

Permalink: HMRC: House sales fall in November
by Kay Mitchell

HM Revenue & Customs (HMRC) has revealed a slight fall in the number of homes sold in November in the UK. According to HMRC, 87,000 homes worth at least £40,000 or more were sold in the month - a slight dip from ...

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Rics predicting house price gains of 1%-2% next year

Permalink: Rics predicting house price gains of 1%-2% next year
by Kay Mitchell

The Royal Institution of Chartered Surveyors (Rics) said today it expects house prices to rise by 1%-2% in 2010. According to the Institution, there will be gains in the early part of the year but this will be followed ...

December 21, 2009

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BoE economist predicts end to house price rally

Permalink: BoE economist predicts end to house price rally
by Kay Mitchell

Bank of England economist, Kate Barker, believes the recent house price gains will not be sustained in 2010. Her comments come as many leading property experts are also predicting an end to the recovery in house prices this year. In an ...

December 19, 2009

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Average rent down 3% on the year

Permalink: Average rent down 3% on the year
by Gill Montia

Average rent dropped back 1.3% in December, according to the FindaProperty.com Rental Index. The monthly fall left the average UK tenant paying £820pcm, down from £831 in November and £845 this time last year. According to the property portal, the decline reflects ...

December 18, 2009

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CML: Mortgage lending plummets 10% on month

Permalink: CML: Mortgage lending plummets 10% on month
by Kay Mitchell

The Council of Mortgage Lenders (CML) has today announced a fall in mortgage lending for the month of November. According to the CML, UK mortgage lending fell by 10% in November compared with October and was the lowest level since May. ...

December 17, 2009

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First-time buyers fall to one-year low

Permalink: First-time buyers fall to one-year low
by Kay Mitchell

Figures published by the National Association of Estate Agents (NAEA) have revealed that the proportion of first-time buyers purchasing property in November fell to its lowest level for a year. According to the NAEA, 19% were first-time buyers in November - down ...

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LSL details 2010′s rental market recovery

Permalink: LSL details 2010′s rental market recovery
by Gill Montia

LSL Property Services is expecting landlords to see average annual returns of £16,000 (or a little under 10%) in 2010, as rental income remains steady and house prices rise 5%. The group, which owns the UK's largest lettings agent network, reports ...

December 16, 2009

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Landlords reveal legislative angst

Permalink: Landlords reveal legislative angst
by Gill Montia

Landlords have been airing their grievances over burdensome legislation and according to BDRC’s latest quarterly survey, Stamp Duty Land Tax and Energy Performance Certificates (EPCs) are front runners. The research agency found almost one in four landlords adverse to SDLT, and one in five ...

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Interest in overseas property soars

Permalink: Interest in overseas property soars
by Gill Montia

Primelocation's International Search Index has revealed that in November, the number of searches for international property doubled, when compared to a year earlier. The website logged over one million foreign property searches, taking levels of interest back up to pre credit crisis ...

December 15, 2009

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FSA reveals rise in repossessions

Permalink: FSA reveals rise in repossessions
by Kay Mitchell

Figures published today by the Financial Services Authority (FSA) revealed that 13,987 homes were repossessed in the three months to the end of September. The figure was a rise of 3% when compared with the previous quarter but was 6% lower than in ...

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Asking prices down 2.2% in December

Permalink: Asking prices down 2.2% in December
by Kay Mitchell

Property website, Rightmove, has reported a further fall in asking prices - the second month in a row that asking prices have fallen. Asking prices fell by 2.2% during the four weeks to December 5 and the group is expecting more falls ...

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2010 promises strong lettings market

Permalink: 2010 promises strong lettings market
by Gill Montia

Lettingsearch.co.uk is predicting that demand for rental property will remain strong in 2010, as uncertainty lingers in the UK housing market. The firm, which claims to be the UK's biggest only lettings portal, expects rental stock levels to fall further in the first ...