Government spending review: More public land to be sold off for homes as George Osborne seeks £20bn in savings July 21, 2015 Remember, remember 25 November: that's when the government will publish its spending review, setting out exactly how it will cut £20bn to eradicate the country's deficit over the next five years. And it looks like that a pretty major literal land-grab will be taking place. The chief secretary to the Treasury Greg Hands [...]
UK house prices to outstrip wages this year due to “chronic lack of properties being put up for sale” July 20, 2015 A shortage of homes is set to ensure house prices rise faster than incomes this year, a think tank has warned today. The Centre for Economics and Business Research has revised its estimate for price growth in 2015 more than three times to 4.7 per cent, up from its initial forecast of 1.5 per cent [...]
As rental prices soar, where do Londoners move to when they quit the city? Broadstone and Brentwood top the list July 20, 2015 London rental prices are soaring, forcing some Londoners to look move from the capital in search of cheaper lodgings. But where do they tend to go? While the commuter belt soaks up the majority (50.3 per cent of those leaving the capital stay in the south east, according to Homelet) of former Londoners, it is [...]
Home extensions pile on the pounds to property values July 20, 2015 The alterations and extensions made to people's homes have added billions of pounds to property prices across Britain. Over the last 12 months, the work has added a combined £6.5bn to the value of homes, as nearly a quarter of a million owners made changes, adding around £30,000 per property on average. In London, where homeowners have [...]
Highest London house prices dip: Kensington and Chelsea, Camden and Richmond fall as bottom end gets boost from first-time buyers July 19, 2015 Some of the capital’s most expensive residential areas saw house prices drop sharply this month, according to data released today, with high demand supporting the lower end of the market. In Kensington and Chelsea, London’s most expensive borough to buy in, prices dropped 7.2 per cent from June to July, according to Rightmove. [...]
Good news for landlords: Rents are rising faster than house prices July 17, 2015 All right, so landlords might have been hit by the Chancellor's new rules on mortgage tax relief – but rents might just help to make up for that, after they rocketed 5.6 per cent in the year to June – the fastest rise since 2009. Read more: Landlord it by Summer Budget proposals? Here's what [...]
The Open: Golf courses like St Andrews add a property price tag premium double the local area July 17, 2015 Properties next to golf courses are not only a winner for fans of the sport, but are good for their wallet too, with a premium price tag more than double that of nearby properties lacking fairway views, Anyone looking to sell up their course-side home aside any of the nine spots to host The Open [...]
Mortgage lending up by 29 per cent in June as political uncertainty ends July 16, 2015 The amount of money lent to UK home buyers in June showed a significant rise compared to May as political uncertainties waned, according to new figures Read more: UK house price growth slows to lowest rate in over a year Gross mortgage lending rose 29 per cent compared with May, climbing to an estimated £20.5bn, according [...]
Misconceptions about housing: These five charts show how wrong we are about rent, house prices and deposits July 14, 2015 Hot on the heels of the Ipsos Mori poll showing that most of us have no idea how much raising children, buying a house, or paying for education cost, the research institute has dug deeper into our insights on housing – and it turns out we’re pretty far off. Just over three quarters of British [...]
David Cameron’s housing construction shake-up fails to build market confidence: Experts disagree residential planning overhaul is game changer July 12, 2015 Housing developers had a bit of a rollercoaster ride last week. First the Budget rocked shares, with changes to tax relief on buy-to-let mortgages – and then, on Friday, the government unexpectedly put house building at the centre of its plan to boost the UK’s productivity. With the cost of a home jumping by 45 [...]