Homebuyers chase longer fixed rate mortgages as interest rate hike looms August 16, 2015 The prospect of interest rates coming off their record lows is prompting potential homebuyers to search for extended mortgages. Mortgages with a 30-year term, or longer, were considered by 21 per cent of those looking to buy between April and June, according to data published today by the Mortgage Advice Bureau (Mab), a brokers. Only [...]
London house prices: Ex-council flat in Covent Garden sold for record-beating £1.2m August 14, 2015 A small two-bedroom flat near London’s Covent Garden has become one of the most expensive council flats ever sold after going under the hammer for £1.2m. Property agent Barnard Marcus said the flat, which is part of Siddons Court, an ex-council mansion block on Tavistock Street, has been snapped up for £1.21m after just six [...]
UK house prices rose at the fastest pace in a year in July – and could speed up this year August 13, 2015 British house prices rose at their fastest rate in a year last month, while the gap between supply and demand means they could speed up this year. The Royal Institution of Chartered Surveyors (Rics) monthly house price balance rose to +44 in July, from +40 a month earlier. This was the highest since July 2014 and [...]
House prices poised to jump again? New property listings plummet in July August 11, 2015 It's hardly been a buyer's market for several years now – but it looks like things are about to get worse for those in the market for a new home, after the number of properties being put up for sale fell 13 per cent between June and July, according to new figures. The study, by [...]
London house prices up 45pc in five years: Home movers put off as figures soar August 9, 2015 The number of people moving home is in decline, new figures out today show. Rising prices, which many attribute to a lack of house building, may be hindering people from moving up the rungs of the housing ladder, according to the study from Lloyds Bank. The number of home movers reached 155,000 in the first [...]
London house prices: There’s a bold solution to the housing crisis – if councils get out of the way August 6, 2015 Tessa Jowell is the latest mayoral candidate to pledge to build more homes to tackle London’s housing crisis, promising at least 50,000 new properties would be built each year under her watch. The government has also outlined plans for 200,000 new starter homes to be constructed, many also earmarked for the capital. But history tells [...]
Super Thursday: Interest rate rise by the Bank of England could end the buy-to-let boom August 6, 2015 It looks like momentum to raise interest rates could be building over at the Bank of England (BoE), however a legal advice service has warned this could spell disaster for the UK's booming buy-to-let market. Minutes due to be released later today are expected to show between two to three members of the nine-strong rate-setting [...]
UK housing crisis: How deregulated “slums” can solve the shortage of homes and high prices for renters August 6, 2015 A blog recently posted on the ASI website seems to have driven some angry reaction. “Britain needs more slums” proclaimed Theo Clifford, the winner of our 18-21 category of our Young Writer on Liberty Competition. While the ASI has a policy of publishing a whole range of opinions (views expressed on the blog are those [...]
Halifax house prices: UK house price growth continues shrinks to its lowest since December August 6, 2015 Growth in UK house prices dipped to 7.9 per cent in the year to July, the lowest figure since December 2014, figures published by Halifax this morning showed. On a quarterly basis, prices grew 2.4 per cent, lower than June's 3.3 per cent, while the monthly figure fell by 0.6 per cent – its first [...]
Savills revenues rise 27 per cent as London market stabilises August 6, 2015 Property services giant Savills reported a jump in revenues this morning, despite uncertainty during the run-up to the General Election. The figures Group revenues rose to £547m in the six months to the end of June, up 27 per cent from £430.8m during the same period last year. Profit before tax rose seven per cent to £26.4m, up from £24.7m last year. Meanwhile, underlying [...]