Aggressive valuations: London home sellers overprice their properties by 40 per cent October 19, 2021 Home sellers across London are overpricing by as much as 40 per cent when it comes to the price at which they list their homes on the country’s major portals, versus the reality of what buyers will pay, according to new data shared with City A.M. this morning. The figures show that across Britain, the [...]
4.5x borrower’s earnings: ‘Risky mortgages’ rising fast, mostly in Wandsworth, Walthamstow and Croydon October 18, 2021 South London is the UK’s hotspot for high-risk mortgages – with more than 6,300 mortgages written at 4.5 times the borrower’s earnings or higher in the last year, according to new research shared with City A.M. this morning. Bank of England guidance says mortgages are considered ‘high-risk’ if they are lent at 4.5 times the [...]
House prices: Value of homes in Kensington and Chelsea alone same as whole of Wales October 14, 2021 Homes across Britain have added £49,257 to their value over the past five years on average, according to a property website. The total value of homes has risen by 20 per cent – or £1.6 trillion – in the past five years, Zoopla said. More than a third (£550bn) of the £1.6 trillion increase has [...]
As stamp duty threshold reverts to £125,000 from tomorrow, estate agents call for review September 30, 2021 From tomorrow, the stamp duty threshold will revert to its normal level of £1250,000, prompting real estate agents to call for a review of the “outdated” levels at which home buyers start paying stamp duty as a tax break ends. Propertymark said the stamp duty holiday has been a success and its normal thresholds should [...]
UK house prices growth eases back to 10 per cent with London slowing the most September 30, 2021 Annual house price growth eased back to 10 per cent in September, from 11 per cent in August, according to Nationwide Building Society this morning. Prices increased by just 0.1 per cent month-on-month, taking the average UK house price to £248,742. Wales and Northern Ireland were the strongest performing parts of the UK in the [...]
Exclusive: London remains by far the UK’s hottest property investment spot but rural areas on the rise September 29, 2021 London remains the primary focus among UK property investors, according to new research shared exclusively with City A.M. today. Among those planning on purchasing a property in the next 12 months, London emerged as the UK’s leading investment hotspot, with 40 per cent considering investing in the capital, FJP Investment found. Behind London, the West Midlands [...]
Eviction orders jump 43 per cent since end of pandemic protection but backlog causes delays September 28, 2021 Eviction orders from landlords and letting agents have jumped 43 per cent rise between the end of the eviction ban on 1 June and 1 September, according to new data shared with City A.M. this afternoon. With the period of notice landlords must serve to tenants brought back to pre-pandemic timescales from 1 October, two [...]
Property: London house prices climb by £36 every single day September 28, 2021 House prices rose by £44 per day on average in the six months leading up to August, according to new figures published this morning. In London, that figure stood at £36 per 24 hours. This was up from £30 per day typically over the previous six months (July 2020 to January 2021), Zoopla said. Across [...]
Exclusive: Growing group of British landlords that live abroad admit tax evasion September 21, 2021 UK expats who own a buy-to-let property in the UK increasingly approach HMRC to admit they have evaded tax, according to new data shared with City A.M. this morning. 248 overseas investors in UK buy-to-let properties came forward to admit tax evasion in the year up to 31 March, according to data shared by accountancy firm UHY [...]
Buyers face hot competition as average house price hits all-time high September 20, 2021 The national average price of property coming to market has hit an all-time high after rising 0.3 per cent this month, to £338,462. This new record high is only £15 higher than the previous record set in July, suggesting a stabilising prices, according to Rightmove’s house price index. Buyers are facing fierce competition to buy [...]