Housing crisis on Budget agenda as groups call for government borrowing to build in London and stamp duty abolition October 30, 2017 The government is being urged to consider major changes to its housing policy ahead of the Budget, ranging from abolishing stamp duty to allowing local authorities to build more homes. In its Budget submission to the Treasury the London Chamber of Commerce and Industry (LCCI) backed a call from chancellor Philip Hammond’s own colleagues to [...]
The tech evolution of the mortgage market October 25, 2017 Babylon, 611 BC: the year of the first recorded loan using real estate as security. Written to Mr. Nabu-etir with an interest rate of 11.3 per cent, our ancient ancestors agreed to the financial instrument that survives two and a half thousand years on. Now this loan forms the bedrock of the modern financial system [...]
The end of gazumping? Government plans a house-buying shake-up to make it less stressful October 22, 2017 House-buyers are being promised new assurances that could speed up the process of purchasing a home and end gazumping. Communities secretary Sajid Javid has launched a new review seeking feedback from across the industry on a shake-up to the home-buying process. It could include “lock-up agreements” preventing sellers from ditching an offer for a higher [...]
This London Tube map shows how much house prices have changed in the capital over the past 10 years October 13, 2017 You might have seen the Tube map for scooters. You may already be poring over the festive Underground map in anticipation of Christmas(even though Halloween hasn't happened yet). But have you seen a London Tube map showing just how much property prices in the capital have changed over the past decade? Well, feast your eyes [...]
UK house prices: Country property prices are much higher than those in the city September 30, 2017 Rural house prices are a fifth more expensive those in cities outside London, according to the Halifax. The average country house price is £263,050, compared with the average urban price of £218,596. The biggest difference is in the West Midlands, where prices are almost 50 per cent more. “Homeowners looking to escape to the country [...]
A life off-grid with no energy bills is closer than you think. Here’s what the future has in store for sustainable homes September 26, 2017 "Right," says eco-developer Sam Budhdeo, rubbing his hands together. “We think we have the solution to climate change.” As openers go, it’s a bold one, but not quite as outlandish as it sounds. The housebuilder who successfully cracks the code to building sustainably – and affordably – would be solving a large part of the [...]
Here’s how much property prices will rise in the next 10 years August 30, 2017 Property prices are being tipped to soar over the next decade, even if they continue to increase at the sluggish rate experienced since Brexit. House prices have risen by 0.37 per cent each month since the referendum – compared with 0.67 a month during the preceeding year. If the current rate of growth were to [...]
UK house prices: London and the south east housing market slowdown drags down the UK average August 10, 2017 A slowdown in the London and the south east housing market has pulled down the UK average, according to the Royal Institution of Chartered Surveyors (Rics). A net balance of just one per cent of surveyors reported prices increasing instead of decreasing in July, down from seven per cent in June. This was the weakest [...]
An analyst has worked out what happens to London house prices under three scary political scenarios July 4, 2017 Politics: it's been decidedly unpredictable in recent years. Not surprisingly, the resulting uncertainty has led to homeowners taking a moment to consider whether now is the best time to buy or sell. Now an analyst at UBS Wealth Management has confronted three of property owners' scariest political nightmares head-on, working out exactly what would happen [...]
UK house prices: Is a crash coming? These economists thinks so, raising spectre of negative equity July 2, 2017 Leading economists have warned that the UK is heading for a collapse in house prices not seen since the early 90s which risks plunging homeowners into negative equity. "We are due a significant correction in house prices. I think we are beginning to see signs that correction may be starting," said Paul Cheshire, a professor [...]