D_Property

The UK residential mortgage market saw a positive start to the year with an increase in the number of small deposit borrowers, usually first time buyers, being approved in January. Some 21% of all approvals went to small deposit buyers up from 18.2% in December and 17.2% in November 2017, according to the latest Mortgage Monitor from e.surv. January’s data is the second full month of data following the Bank of England’s decision to increase the base rate to 0.5%. This rate rise, plus the speculation in the weeks leading up to the decision, has spurred many people into taking action, either looking to take out a mortgage or switching to a new deal, the report […]

Record home hunter activity is fuelling a rise in asking prices in most regions in the UK, led by the Midlands where they are rising three times faster than the national average, the latest index shows. Overall asking prices increased by 0.8% month on month in February and 1.5% year on year to an average of £300,001, according to the index report from real estate portal Rightmove. All regions have seen asking price rises on a monthly basis except for a marginal fall of just £131 in the South West but prices here are still 3.3% higher than a year ago and there was a 5.1% monthly rise in Scotland. Year on year price growth was […]

Private rented sector rents paid by tenants in Britain rose by 1.1% in the 12 months to January 2018, down from 1.2% in December 2017, the latest official index shows. In England, private rentals grew by 1.1%, Wales saw growth of 1.4% while Scotland saw rents increase by 0.3%, according to the data published by the Office for National Statistics (ONS). The index also show that in the private rented sector in London rent grew by 0.2%, some 0.9% below the British 12 month growth rate and the lowest annual growth since October 2010. Excluding London rents were up by 1.6%. Between January 2011 and January 2018 rents increased by 15.6% and this was strongly driven […]

There are now well over 750,000 homes in Britain worth at least £1 million with most of them in London, new figures show. Overall there are 768,553 properties in this price bracket which amounts to 2.7% of the nation’s housing stock, according to the data from property portal Zoopla. This is a considerable rise of 22.95% since August 2016 which shows just how fast the value of home have been rising. The largest number are on London at 430,720. Kensington Palace Gardens, which borders the west side of Hyde Park, is the most expensive with an average property price of £35,696,711. The second highest number of millionaire properties can be found in the South East of […]

House prices in England and Wales increased by 0.2% in January, the first monthly rise following several months of declines, taking the average to £301,477, the latest index shows. But on an annual basis prices have fallen in several locations, most notably London, the South East and the North East, according to the data from the Your Move index. However, the index report points that overall despite average prices in England and Wales being lower than they were in January 2017 and down annually for the first time since March 2012, average prices continue to remain above the £300,000 mark as they did throughout 2017. It explains that the move into negative territory in annual price […]

New figures from Landbay have revealed the average cost of renting a home is now rising across every UK region for the first time in almost two years. Rents grew by an average of 0.07% in January, marking what is expected to be the start of a year of sustained rental growth for the UK. According to the report, the average UK rent now stands at a record £1,198 per month, a 0.66% increase on this time last year. While rents in the capital (£1,876) remain around 2.5 times the rest of the UK (£760), this is still £16 a month shy of the £1,893 record set in May 2016. Much has been made of the […]