Foxtons share price plummets as it issues profit warning on cooling London house prices October 23, 2014 What a difference a year makes. Just over a year after its massively oversubscribed IPO, shares in Foxtons have plummeted more than 16 per cent after it issued a profit warning saying "constrained" growth in London's housing market is likely to hit volumes in its second half. The upmarket estate agent, known for its trendy, [...]
London house prices: Property market stalls in September October 21, 2014 The inexorable rise in London’s house market stalled in September according to Sequence, a national estate agency network. The number of transactions fell by one per cent, adding to the body of evidence pointing to a marked slowdown in the London housing market. “What we are seeing is a return to normality in the housing [...]
London property: Average house price edges closer to £600,000 October 21, 2014 The average asking price for a house in Greater London is now £596,000. But although this figure is huge, analysts believe that the long-term trend is for a slowing market, even in the capital. Data from Rightmove shows prices in the capital have climbed seven per cent over the last month, and 9.6 [...]
Homeowners in property worth over £3m to be hit with £10k mansion tax October 20, 2014 Labour would tax homeowners in properties worth above £3m over £10,000 on average per year, in some cases much more, according to research by the Institute for Fiscal Studies. Under the party’s mansion tax proposals, those in homes worth between £2m to £3m would pay £3000 per year, but those in properties worth over £3m [...]
On the frontline: Does a slowing rate of growth mean lower house prices? October 20, 2014 One quarter is a long time in the property market. Our Investor View reports show Q1 growth across 18 offices at 6.5 per cent, Q2 2.1 per cent and Q3 0.1 per cent. So does a slowing rate of growth mean house prices will fall? Messrs Osborne and Cameron will be hoping not, and Douglas [...]
UK property: South east overtakes London as region with fastest-growing house prices October 20, 2014 The south east has overtaken London as the region with the fastest-growing house prices, figures published today show – despite the average asking price in the capital hitting £596,000 in the year to October. According to research by Rightmove and Oxford Economics, prices in the capital grew 9.6 per cent during the period, while [...]
London house prices may be starting to drop October 15, 2014 London house prices could already be falling, according to figures released yesterday by estate agents Haart. Prices in the capital were 3.3 per cent lower in September than in August. However, growth since September 2013 remains high at 19.8 per cent. A similar, but less extreme, trend is seen for prices for the whole UK. [...]
London house price boom set to stall in 2015 as tough new mortgage lending rules take effect October 14, 2014 House price growth is set to level off across the UK and could even be at risk of falling in the capital, according to industry experts. “It’s been indicated by the collapse in buyer in inquiries, there’s been a very sharp fall in London,” Joshua Miller, economist from the Royal Institution of Charted Surveyors, told [...]
The average London house price is now £514,000: But how is the rest of the UK faring? October 14, 2014 UK house prices are up 11.7 per cent in the year to August, the same as the year to July but how much are they being dragged up by London? Eleven point seven per cent growth seems big enough, given low wage growth and inflation of 1.2 per cent. But what about the context? According [...]
UK house prices grow nearly 12 per cent in a year – but in London it’s closer to 20 per cent October 14, 2014 The average price of a UK house rose by 11.7 per cent in the year to August, with London still leading the way. Figures published by the Office for National Statistics this morning showed that house price inflation was strongest in England, up 12.2 per cent, followed by Northern Ireland, where prices rose 9.6 [...]