March 21, 2012
In today's budget, Chancellor of the Exchequer, George Obsorne, announced a crack down, effective immediately, on various tax avoidance schemes including those relating to stamp duty land tax, such as purchasing a property using a company registered overseas.
The Chancellor also ...
Stamp duty 7% for high-value homes
Permalink: Stamp duty 7% for high-value homes
by Gill Montia
Mortgage lending holds steady
Permalink: Mortgage lending holds steady
by Gill Montia
March 20, 2012
New sellers increased asking prices by 1.6% (an average £3,687) in March, according to Rightmove, with vendors' ambitions up 4.9% over the first three months of the year, compared with the same period of 2011.
The rise marks the largest first-quarter increase in asking ...
Asking prices up 1.6%
Permalink: Asking prices up 1.6%
by Gill Montia
March 19, 2012
Rents in England and Wales dipped in February as tenants considered moving into the sales market to beat the end of the stamp duty holiday.
According to the latest buy-to-let index from LSL Property Services, average rent fell by 0.6% to ...
Rents dip as tenants look to buy
Permalink: Rents dip as tenants look to buy
by Gill Montia
March 16, 2012
A new service launched by Experian means that tenants in the UK private rented sector could see their credit rating hit if they run into rent arrears.
While information about mortgages is currently included in credit reports, rent payment information is not ...
Credit ratings to include rent arrears
Permalink: Credit ratings to include rent arrears
by Gill Montia
March 15, 2012
Following another year in which lettings complaints increased, property ombudsman, Christopher Hamer, is renewing his call for standards to be raised across the lettings industry.
In 2011, the ombudsman's office dealt with 7,641 letting enquiries, with the figure up 26% on 2010.
Just ...
Lettings agent complaints up 26%
Permalink: Lettings agent complaints up 26%
by Gill Montia
March 14, 2012
New figures from the Consumer Credit Counselling Service (CCCS) indicate that UK households in rented accommodation are "swimming against a tide" of falling real incomes when it comes to repaying unsecured debt.
An analysis of the 370,000 people ...
Debt charity highlights rise in rental clients
Permalink: Debt charity highlights rise in rental clients
by Gill Montia
March 13, 2012
The February survey from the Royal Institution of Chartered Surveyors (RICS) is to be welcomed, as surveyors were at their most optimistic in almost two years.
Transaction levels continued to rise - the average number of sales per estate agency branch increased ...
Housing market pessimism begins to lift
Permalink: Housing market pessimism begins to lift
by Gill Montia
Property professionals fear squatting will increase despite new legislation
Permalink: Property professionals fear squatting will increase despite new legislation
by Brian Turner
March 12, 2012
Barclays has launched two first-time buyer mortgages to support the Government’s NewBuy initiative, which aims to provide mortgages of up to 95% loan-to-value for new-build properties in England.
First-time buyers or home movers purchasing a new build house or flat (with participating builders up ...
Barclays launches NewBuy mortgages
Permalink: Barclays launches NewBuy mortgages
by Gill Montia
March 9, 2012
House prices in England and Wales rose 0.2% in February as first-time buyers hit the market with urgency to beat the deadline on the stamp duty concession, which ends later this month.
According to the LSL / Acadametrics House Price ...
House prices up 0.2% as transactions leap 13%
Permalink: House prices up 0.2% as transactions leap 13%
by Gill Montia
March 7, 2012
UK house prices fell 0.5% during February, according to Halifax, with the decline almost wiping a January gain of 0.6%.
At £160,118 the value of the average home is little changed from the Spring of last year.
On an annual basis, prices ...
House price down 1.9% on the year
Permalink: House price down 1.9% on the year
by Gill Montia
March 5, 2012
Halifax is hiking its Standard Variable Rate (SRV) from 3.5% to 3.99%, from 1st May.
In addition, the lender is raising its Halifax Variable Rate 2 (currently 3.4%) and Halifax Flexible Variable Mortgage Rate (currently 3.4%) to 3.89%, also from 1st May.
Affected ...
Halifax hikes SVR
Permalink: Halifax hikes SVR
by Gill Montia
March 2, 2012
Planning applications for new housing developments in England have halved in four years, according to the Home Builders' Federation (HBF).
New research commissioned by the HBF shows that in 2011, total permissions were at their lowest since 2006.
The 115,000 granted last year represent ...
New build planning permissions halve
Permalink: New build planning permissions halve
by Gill Montia
March 1, 2012
UK house prices increased by 0.6% during February, according to Nationwide.
At £162,712, the value of the typical home showed a 0.9% year-on-year rise (January: +0.6%), activity in the market having picked up markedly since a year ago.
Sales leapt 23% in January and ...
House prices edge up 0.6%
Permalink: House prices edge up 0.6%
by Gill Montia
Broadway launches property fund for homeless
Permalink: Broadway launches property fund for homeless
by Gill Montia
February 28, 2012
In its 2012 European Housing Review, the Royal Institution of Chartered Surveyors (RICS) states that real house prices in the UK have fallen by one-third since 2007, while France and Germany have seen far more modest declines of one-tenth or ...
UK house prices down one-third since 2007
Permalink: UK house prices down one-third since 2007
by Gill Montia
February 27, 2012
February saw a marked improvement in housing market conditions in England and Wales, according to Hometrack, with the number of buyers registering with estate agents up 18%, compared to January.
Activity levels were boosted by first-time buyers looking to complete before the ...
February bounce in housing market activity
Permalink: February bounce in housing market activity
by Gill Montia
February 23, 2012
In a new report, the Bank of England notes a "modest" increase in housing market activity since the start of the year, beyond what was expected.
However, according to the Bank's agent contacts, the market has been catching-up ...
Housing market horizons end with stamp duty concession
Permalink: Housing market horizons end with stamp duty concession
by Gill Montia
February 22, 2012
Sir Adrian Montague has issued a formal call for evidence to support his independent review of the barriers faced by institutional investors looking to enter the UK's private rental sector (PRS).
The review forms part of the Government's housing strategy and will ...
Review to encourage private rental investment
Permalink: Review to encourage private rental investment
by Gill Montia