Relocation, relocation, relocation: Cheaper houses lure record number of Londoners north August 27, 2018 The rate at which Londoners are quitting the capital’s housing market to relocate up north has more than tripled in the last decade, according to research from estate agent Hamptons International. Around 21 per cent of Londoners who left the capital in the first six months of the year moved to the Midlands and north [...]
Mortgage approvals drop as housing activity slump shows little sign of picking up August 24, 2018 Mortgage lending dipped in July, despite an uptick in homeowners seeking cheaper interest rates ahead of the Bank of England rate rise earlier this month. Approvals for mortgages fell 4.3 per cent year-on-year in July, having risen to a nine-month high in June, in a fresh sign that housing activity in the UK's property market [...]
First-time buyers drop off market as mortgage completions sink August 22, 2018 First-time buyer mortgages fell sharply in the second quarter of 2018, signalling a drop in new homeowners coming onto London’s subdued property market. Roughly 10,300 new first-time buyer mortgages were completed in London in the three months to the end of June, marking a 3.7 per cent fall from the same period in the previous year. [...]
House transactions slide lower amid ‘stagnant’ property market August 21, 2018 The number of houses being bought and sold edged further down last month, as fears of a stagnant property market continue to loom large. Residential transactions were 3.2 per cent lower in July 2018 compared with the same month last year, according to the latest data from HMRC’s property transaction statistics. Read more: There is [...]
London is starting to fix its housing crisis – but there’s still a way to go | City A.M. August 7, 2018 Hats off to the folk at City Hall who recently published their latest Housing in London report – over 100 pages packed with fascinating figures about the state of housing in the capital. While such a document may not set everyone’s pulse racing, this kind of in-depth, illuminating research is vital if we are to [...]
Positive thinking on negative equity: What to do if your home is worth less than your mortgage July 4, 2018 Less than a year ago, it was all talk of bubbles in the UK housing market. But we all know that what goes up must come down, and the first signs that the market was losing steam came at the start of this year. The market continues to look skittish, with the most recent figures [...]
A London blockchain startup is spending $30m on building ‘a new internet’ June 28, 2018 The roll-out of the Decentralised Architecture for a Democratic Internet, or DADI for short, begins today as the London-based blockchain startup seeks to build an internet run and owned by the public. Labelled as a peer-to-peer network built on decentralised ledger technology, the Dadi network is promised to be up to 60 per cent cheaper [...]
Berkeley boss Tony Pidgley has made an ominous call about the future of London’s housing market June 21, 2018 Legendary housebuilder Tony Pidgley is primarily known for three things. Firstly, he was a Barnardo’s baby, subsequently adopted by a family of gypsies. Secondly, from such humble beginnings he rose to become one of the UK’s highest-paid business chiefs. And thirdly, he is credited with calling the house price crash at the end of the [...]
UK mortgage borrowing soared in April with £4.4bn in new lending June 14, 2018 Mortgage lending in the UK increased considerably in April, according to a report published this morning by trade association UK Finance. UK Finance’s mortgage trends report revealed that there were 26,700 new first-time buyer mortgages completed in the month, some 3.5 per cent more than in the same month a year earlier. The £4.4bn of [...]
New government bill could save tenants £240m, but London estate agents worry it could spark ‘housing crash’ May 3, 2018 A new government bill to ban letting fees across England has ignited fierce debate in the property sector, with tenants and real estate agents drawing battle lines on either side. The government says its Tenant Fees Bill, introduced to parliament yesterday, is designed to “save tenants millions of pounds and make the market fairer and [...]