Nine out of ten Londoners can no longer afford the rent renting in London Insurance giant Admiral has warned that nearly nine out of ten Londoners can no longer afford the average cost of rent in the capital. The demand for rooms to rent is much higher than the available supply, thereby leading to such increases that most Londoners cannot keep up with, the company cited as the main [...]
Bromley, Wandsworth, Richmond and Lambeth are London’s busiest housing markets while it’s eerily quiet in Westminster and Brent London property Data shared with City A.M. this morning shows which London boroughs have been the busiest in the past 12 months when it comes to the number of homes sold as a percentage of all private dwellings within each borough. On an individual borough-by-borough level, the busiest housing market in 2021 in London was Havering, according [...]
Getting on the property ladder: Here are the most affordable places in Britain for first-time home buyers First-time buyers In London, Bromley is the most affordable borough for first-time buyers, while Kensington is unaffordable for those trying to get onto the property ladder. Nationwide, Scotland remains the cheapest place to snap up a property. First-time buyers face spending at least six times their annual wages to get on the property ladder in nearly half [...]
£12m in remortgages and drawdowns every single day: Homeowners release record £4.4bn in property wealth January 19, 2022 Older homeowners released a record £4.4 billion in property wealth last year at a rate of more than £12 million a day as customers helped family and secured their own finances by repaying debt or remortgaging existing borrowing, according to new data. Around one in five equity release plans (19 per cent) taken out in [...]
Second homeowners who flipped holiday home set to pocket £191m despite upcoming crackdown January 17, 2022 About £191m of new pandemic grants from the Government is coming to second homeowners’ pockets, for those who flipped their holiday homes into letting businesses. The revelations come despite a new crackdown, announced at the end of last week. Councils across England have started distributing £635m in grants to businesses affected by the Government’s Plan [...]
Explosion in ‘London leavers’ buying up properties in the countryside with St Albans top destination for first-time buyers December 31, 2021 More properties outside the city were purchased by London-based home buyers this year than in any year since 2007. First-time buyers made up nearly a quarter (24 of Londoners buying outside the capital in 2021, according to the calculations from Hamptons. The estate agent estimates that, in total, buyers based in London purchased more than [...]
Prime properties outside London surge at strongest pace in a decade with house prices in Cotswolds leading the pack December 28, 2021 New research shows this morning that prices of prime properties outside London have surged at the strongest pace in a decade during 2021. As house hunters looked for more space and made lifestyle changes, price growth across the prime housing markets outside London averaged 9.3 per cent over 2021, marking the strongest annual growth since [...]
Average house price of £29m: Here are 2021’s most expensive UK streets (and they are all in London) December 22, 2021 If you have a spare £29m in the bank, you may be able to buy yourself a property in the most expensive street in England and Wales, or London rather, as the five most pricy streets in the country are all in the capital. Nestled by the River Thames, Tite Street in the Borough of [...]
Halifax: UK house price growth expected to be ‘much flatter’ 1 per cent in 2022 December 17, 2021 UK house price growth will remain robust next year but will be “much flatter” as rising inflation and interest rates, coupled with the end of government support measures, place greater pressure on household budgets. Prices are expected to inch up around 1 per cent in 2022, but “forecast uncertainty remains very high,” Halifax said this [...]
Growth of property values hits 15-year high: House prices rise for fifth straight month amid 8.2 per cent annual jump December 7, 2021 Average UK property price hits a new record high of £272,992 last month, rising in November by 8.2 per cent compared to the same month a year earlier, according to Halifx, publishing its monthly index this morning. Prices increased by 1 per cent month-on-month in November while quarterly house price inflation is now at its [...]