UK house prices: Sales to first-time buyers pause in February despite year-on-year rise March 31, 2016 The number of first-time home buyers rose by seven per cent in the year to February despite a slight drop in activity since the start of the year, new data today shows. First time buyer sales stood at 21,000 last month, which was 6.6 per cent ahead of February 2015’s figure of 19,800, according to Your [...]
Buy to let investors scramble to secure home purchases before April stamp duty rise March 29, 2016 Buy to let investors are storming the housing market to beat higher taxes that will come into force in April. In February, 85 per cent of estate agents reported an increase in the number of buy to let investors looking to purchase properties, according to data released by the National Association of Estate Agents (NAEA) released [...]
Why Londoners should be wary about the Lifetime Isa March 29, 2016 Should you get a Lifetime Isa (Lisa) when they’re launched in April next year? On the face of it, definitely yes. Designed specifically for the under-40s, this new entrant to the growing Isa stable promises a government top-up of £1,000 if you contribute the maximum £4,000 in a tax year, no tax on capital growth [...]
George Osborne delivered a Budget that backs Britain’s Millennials March 23, 2016 They're nearly 14m strong and the largest cohort in our workforce. From the factory floor to the trading floor, the Millennial generation or “Generation Y” – those born between 1980 and 2000 – are at the heart of Britain’s economic success story. Among their ranks are Britain’s growing number of apprentices, young professionals, first-time buyers, [...]
Rightmove: Cheapest boroughs fuel 11 per cent rise in London house prices as one agent warns it now takes 46 years to save for a deposit March 21, 2016 London house prices have climbed 11 per cent over the last 12 months, with the cheapest boroughs rising at the most rapid rate. The fastest growth was in Barking and Dagenham, according to the data published today by property website Rightmove. Asking prices in the borough, the capital’s cheapest, are 23.5 per cent higher this [...]
Knight Frank and Markit: London house prices experienced the biggest increase this month March 18, 2016 London house price growth is expected to beat all other regions this month despite a slowdown in the top of the market, new research has shown. Londoners perceived the biggest increase, followed by those in the South East, East of England, Scotland and then the North West. It's slightly surprising given price growth among prime central London properties [...]
Budget 2016 might have done no favours for house buyers – now it’s time to look again at property funds March 17, 2016 The British have a long-standing love affair with residential property. This extends beyond owning their own homes to a faith in bricks and mortar as a solid investment. However, while investing in residential has meant owning one or more buy-to-let properties, the impending crackdown on buy to let by the chancellor means they should consider an alternative [...]
Mortgage borrowing rises in January as landlords race for stamp duty deadline March 17, 2016 Would-be landlords made a mad dash to secure mortgages in January as new rules on stamp duty for buy-to-let homes loomed, new figures show. Data from the Council of Mortgage Lenders (CML) shows landlords borrowed £3.7bn in January, up nine per cent from the month before – but a whopping 42 per cent year on year. New [...]
Scheme is full steam ahead: Battersea boss hits back at fears that investors are fleeing March 16, 2016 The developer behind the £8bn regeneration of Battersea Power Station has sought to quash fears of investors fleeing the site after warning signs that a glut in new build homes, tougher tax rules, and currency turmoil in foreign markets is weighing on London's prime property market. Speaking to City A.M. in Cannes, Rob Tincknell, chief executive [...]
Budget 2016: A tax on house purchase is a tax on house building too – which will not help the UK’s housing crisis March 16, 2016 A tax on house purchase is a tax on house building too and could perversely worsen the housing crisis in the long term. Raising taxes is a tried and tested way to discourage activity that the government thinks is bad for us and right now it seems the target is buy to let. Unfortunately the [...]