London house prices could rise by a further £21,000 this year May 8, 2021 The house price boom caused by the introduction of the stamp duty holiday could see the average house price across England climb by another £23,000 before the end of the year, should current market trends continue. House prices are increasing at an average of 0.84 per cent a month across England, according to research by [...]
March was HSBC’s strongest mortgage completion month in more than 40 years May 6, 2021 HSBC handed out more mortgages in March than in any other month of more than 40 years offering home loans. In a sign of the recent boom in housing market activity, HSBC UK said March was its strongest ever month for mortgage completions, including deals for more than 3,000 first-time buyers. The bank declined to [...]
Return on property value: Is it time to sell if you live in this part of London? May 5, 2021 Recent ONS figures suggest that UK house sales have increased by 160 per cent since January, and show no sign of slowing down any time soon. Average house prices across the UK increased 8.6 per cent in the year to February, the highest house price growth recorded in the UK since October 2014. One of the trends that [...]
London homes snapped up by Hong Kong buyers quadruples April 29, 2021 The number of London homes being bought by Hong Kong buyers has quadrupled since the UK’s visa scheme has allowed many to relocate. Hong Kong buyers now account for four per cent of transactions in the capital, up from one per cent, according to client data from property firm Benham and Reeves. Since the British National [...]
London only UK region to report drop in rent prices over last five years April 28, 2021 The capital is the only region in the UK where rents have fallen over the last five years as Londoners have left the city during the pandemic and fewer young professionals have moved for work. Asking rents in almost two thirds – 65 per cent – of London neighbourhoods are lower than they were five [...]
House prices: Which central London postcodes offer the most open space? April 27, 2021 The W1K postcode of Mayfair and St James’s is the greenest pocket of the prime central London market, according to new research that looked at which London postcodes present high-end homebuyers with the most open space. An estimated 36.5 per cent of the postcode area presents open outdoor spaces, by far the most of all [...]
House prices: New build homebuyer demand explodes on England’s south coast and in Wales April 26, 2021 Homebuyer demand for new build homes has climbed 9 per cent in the last year, with coastal towns in the south of England and Wales leading the charge. Across Britain, 38.7 per cent of all new build homes are already sold subject to contract or under offer, a 9 per cent jump on the same [...]
Boost for first-time buyers as more ultra-low deposit mortgages hit the market April 24, 2021 In a further boost to first-time buyers, more lenders are bringing 5 per cent deposit mortgages onto the market. New deals announced by Metro Bank and Cambridge Building Society are not part of a new government-backed mortgage guarantee scheme which was launched this week to increase the availability of 5 per cent deposit loans. Major [...]
One in five aspiring first-time buyers lives with family or friends to save cash April 22, 2021 More than a fifth of aspiring first-time buyers have moved in with family or friends since the coronavirus crisis started, according to research published this morning. Some 22 per cent of people hoping to buy their first home in the next two years have moved in with parents, in-laws or friends since March 2020, Halifax [...]
Top-end homes in Mayfair and St James’s offloaded at 20 per cent below asking price April 22, 2021 Several prime central London postcodes are seeing homes sell at a considerable discount of up to 20 per cent per square foot, according to new data shared with City A.M. this morning. In many areas there is a notable difference between the expectations of home sellers and the price that buyers are willing to pay, [...]