London houses have missed out on huge price increases because of Night Tube delays February 10, 2016 Delays to the launch of the 24-hour Night Tube could have stripped billions of pounds in potential increases from property values across London, new figures reveal. The Night Tube's arrival was expected to push up house prices along the route by as much as 10 per cent on top of growth in surrounding areas. In [...]
New buyer registrations for prime London homes jump as buy-to-let landlords rush to beat stamp duty hike February 10, 2016 New buyer registrations for prime London homes soared in January as buy-to-let landlords scramble to complete their purchases before the stamp duty hike comes into effect in April. Figures from estate agency Marsh and Parsons today show that the number of new buyers registering in January 2016 was 24 per cent higher than in the [...]
Where do homes sell fastest in England and Wales? Reading is the hottest place for a property sale February 9, 2016 How long does it take to sell a house? The answer depends on where you live – and location makes a big impact. Home owners in Wales expect to wait three times as long as those in Reading before they can take down that “for sale” sign. With the average house selling in 64 days, [...]
As annual house price growth rises to 9.7 per cent, should the Bank of England hike rates to rein in housing costs? February 5, 2016 Andrew Sentance, senior economic adviser to PwC and a former member of the Bank of England’s Monetary Policy Committee, says Yes. High house price inflation is one sign of the financial imbalances which are building up in the UK economy on the back of very low interest rates, which also risk fuelling a new wave of [...]
UK house price growth speeds up in January as buy-to-let stamp duty hike looms February 4, 2016 House price growth sped up in the year to January, new data showed this morning – suggesting buy-to-let investors are trying to sneak in those transactions before new stamp duty rules are introduced in April. The annual figure was up from 9.5 per cent in December and nine per cent in November, according to Halifax's house [...]
George Osborne is playing a dangerous game with the new Help to Buy London February 1, 2016 George Osborne is playing a dangerous game with the new Help to Buy London Back during the Autumn Statement, George Osborne announced with great pleasure that he would be introducing a London-specific Help to Buy scheme. The government are going to give a hand to struggling homeowners, to get on the first rung of a [...]
UK house prices: Property prices increased by as much as the average salary – but in London it’s more than double that January 22, 2016 The property market might be cooling, but last year still gave home-owners a solid boost to their wealth, with new research suggesting UK properties gained in value by as much as the average salary. Throughout 2015, the average homeowner made £27,264 – or £16 for every working hour of the year. Those who own property in London, [...]
More than 600,000 UK homeowners are now property millionaires December 17, 2015 More than 600,000 UK homeowners are now so-called property millionaires as escalating prices pushed more homes over the £1m-mark. Research released by property website Zoopla said the number of homes worth £1m or more increased by 75,796 – up 14 per cent – since January, taking the total number of property millionaires to 622,939. This [...]
Bank warns looming credit boom risks housing bubble December 8, 2015 The noughties were not humanity’s greatest decade. It brought us boot cut jeans, velour tracksuits and 50 Cent – and now a report has warned that we could be heading back there, thanks in part to the Bank of England’s monetary policy committee (MPC). According to BNP Paribas Real Estate, if the MPC shies away [...]
Tyrie pushes for changes to inheritance tax relief reforms December 7, 2015 Proposals to extend inheritance tax relief for residential properties brought in by George Osborne this year have been criticised for being too complex. Andrew Tyrie, chairman of the Treasury Select Committee, has written to the chancellor asking him to rethink the proposals. He has suggested using the 2016 Finance Bill to clarify the changes, the first [...]