Rent on the average UK one-bed flat has now surpassed £1,000 per month September 12, 2016 Have warnings over the government's attempts to reduce second home buying just come to pass? New figures have suggested the average UK one-bed flat now costs tenants more than £1,000 a month. Ouch. The figures, by Landbay, showed the average UK one-bed hit £1,010 a month in August, 67 per cent of the average disposable [...]
Epos Now founder Jacyn Heavens on luck, crying, making the most of Brexit and getting mashed September 12, 2016 Within minutes of meeting Jacyn Heavens, founder of Epos Now, we’re debating whether he should wear a suit for TV appearances. The upshot is that he feels like he should, but it doesn’t feel very him. Whatever he ends up wearing, you’ll likely see a lot more of the serial entrepreneur. Last week, he was [...]
First time buyers still waiting for Brexit boost as banks demand higher deposits September 12, 2016 The Brexit vote has not been the boon for first-time buyers many forecasters expected it might be, new analysis of prices and mortgage data has revealed. In the aftermath of the referendum, many expected house prices across the country to dip, making it easier for hard-pressed savers to get a foot on the ladder. However, [...]
Barratt Developments defies Brexit doomsayers with “confident” outlook September 7, 2016 The figures Barratt Developments' completions swelled by 5.3 per cent to 17,319 homes in the year ended 30 June, meaning it delivered completion volumes for eight years. This helped the housebuilder's pre-tax profit jump 20.7 per cent to a record £682.3m during this period, up from £565.5m a year earlier. The company also significantly strengthened its balance sheet, with Barratt's cash [...]
Leave the buy to let market alone, Britain needs more landlords September 6, 2016 Twenty years since buy to let took off, landlords are now a crucial part of Britain’s housing ecosystem. The private rented sector, accounting for around one in five properties, provides much-needed homes for those people who are not ready to buy or do not want to purchase a property. However, the sector sometimes comes in for stick, [...]
RBS and Lloyds shares tumble after Deutsche downgrade September 5, 2016 Shares in banks RBS and Lloyds tumbled to the bottom of Britain's blue-chip index today following a downgrade by analysts over at Deutsche Bank. RBS slumped 2.99 per cent to 198.30p per share in mid-afternoon trading, while its peer Lloyds fell 1.92 per cent to 59.79p. Read more: Standard and Poor's attacks negative interest rates as desperate and damaging [...]
House prices went up in August – but Nationwide says the outlook post-Brexit vote is “cloudy” August 31, 2016 Despite the recent Brexit vote – and changes to stamp duty rules – pouring cold water on new buyer enthusiasm, house prices picked up again in August. The Nationwide house price index for August showed prices increasing by 0.6 per cent, with annual house price growth increasing to 5.6 per cent, up from 5.2 per cent in [...]
Pension or property: Which is the better option for your retirement? August 31, 2016 The Bank of England’s chief economist Andy Haldane drew ire from the pensions industry for the second time this year, when he claimed that property was a better investment option for retirement than a pension in an interview with The Sunday Times this weekend. “It ought to be pensions but it’s almost certainly property,” Haldane said. [...]
Mortgage approvals fell to 18-month low in the first full month since the Brexit vote August 30, 2016 Mortgage approvals hit an 18-month low last month, according to figures from the Bank of England. In the first full month after the Brexit vote, approvals fell to 60,912 – down from 64,152 approvals in June. The number of approvals has been falling since March, when the stamp duty hike on second homes came into effect. There [...]
Lending to London’s home movers sinks as first-time buyers edge onto the property market August 24, 2016 Home movers are releasing their grip on London's housing market, as data released from the Council of Mortgage Lenders (CML) shows they took out fewer loans in the second quarter. CML said home movers withdrew 6,700 loans in the second quarter, a fall of 37 per cent as compared to the first quarter of 2016. [...]