The average rent in London has reached a record high December 30, 2016 The government may have spent the last few years doing everything in its power to reduce the number of people buying second homes – but that hasn't hurt the capital's rental prices, after new research suggested rents in London reached a record high in November. The Your Move rental index showed average rents in the capital [...]
Disposable incomes grew in November but households will feel the pinch as inflation begins to bite, say experts December 29, 2016 Household disposable incomes have swelled by 4.5 per cent over the last year despite price inflation being at a two-year high. Including bonuses, the average cash families have to splash out on discretionary items stood at £202, up over £9 on the previous year, according to data prepared by the Centre for Economics and Business Research (Cebr) and [...]
A sign of things to come? Mortgage approvals fall in November, although consumers are still borrowing at ultra-low rates December 28, 2016 Mortgage approvals are nine per cent lower than the same point last year, but UK consumers were still borrowing to power the economy in the five months after EU referendum. The number of house purchase mortgage approvals fell slightly in November to 40,659, down from 40,835 in October, according to the British Bankers’ Association (BBA), [...]
This is what will happen to rents next year December 19, 2016 It has been an eventful year for landlords. They have been under intense pressure from the government in 2016, starting in April, when former chancellor George Osborne's stamp duty hike on second homes came into effect. Then, when Philip Hammond took over, he used his first Autumn Statement to ban letting agents' fees for tenants, saying [...]
London house prices are growing at slowest rate for over three years December 16, 2016 Annual house price growth fell to 7.6 per cent in November, its lowest level for more than three years. The figures from Hometrack show how tax changes and the Brexit vote have been weighing on London property. In November 2015, house price growth was 11.8 per cent year-on-year. Read more: This is how far house prices will fall [...]
Property market predictions 2017: From Brexit to tenant fee bans, we’ve asked London’s biggest real estate agents to look into their crystal balls December 8, 2016 2017 will see the rise of Build-to-Rent in London Mark Collins, chairman at CBRE Residential Throughout 2017, I hope that SME developers continue to be championed and encouraged by local government, as these housebuilders will play a major role in alleviating the housing crisis. Access to land and financial support as well as flexible planning systems [...]
UK consumer borrowing continues to rise in October November 29, 2016 Lending to UK households grew in October, as British consumers continued to borrow money in spite of the vote to leave the European Union. Consumer credit grew by an annual rate of 10.5 per cent in October, marginally faster than the 10.4 per cent rate reported for September. This translates to an increase of £1.6bn [...]
Nationwide pulls out of commercial real estate lending as it reports falling profits November 18, 2016 Nationwide announced plans to pull out of commercial property lending as it reported falling profits today. The figures Statutory profit for the six months to September came in at £696m, down from £802m. And underlying profit was reported at £615m, down from £801m. Nationwide said gross mortgage lending was up 17 per cent to £17.5bn [...]
Thanks Carney: Aldermore’s results boosted by Bank of England scheme November 10, 2016 Aldermore revealed today that it has boosted its new lending during the first nine months of the year, with a little help from a recently introduced Bank of England funding scheme. The figures The challenger bank announced it had generated £2.3bn in new lending during the first nine months of 2016, up 20 per cent [...]
UK house price growth eased off in October November 7, 2016 Much has been said about whether the Brexit vote hit demand for homes in the UK. Figures published today suggest that may be the case: prices grew 5.2 per cent in October, down from 5.8 per cent in September. The average house price hit £217,411 in October, according to the Halifax house price index – that's [...]