November 15, 2017

Stamp Duty puts the brakes on the housing market

A new report carried out by the Centre for Economics and Business Research and commissioned by Santander Mortgages, has found that amongst other things, Stamp Duty Land Tax (Stamp Duty) is having a significant effect on the UK property market by impacting people who move more. The report looks at the effect of Stamp Duty on the UK’s residential property market. Titled “An examination of residential Stamp Duty Land Tax”, the findings reveal that over the course of a five-year period2, an additional 146,000 property transactions would have taken place if Stamp Duty had been removed. It also argues that the incentive to build more property would have been higher as under Stamp Duty the seller […]
November 13, 2017

Record number of landlords paying cash in the UK private rented market

A record 65% of landlords bought property paying in cash, more than at any time in the last decade, new research shows. Most of them are buying property in the North where homes are cheaper with 78% paying cash in the North East of England but just 42 doing so in London where values are much higher. The move comes at a time when rents are rising, according to the latest index report from Countrywide which shows that in October rents increased by year on year, driven by growth in the Midlands and Wales. A breakdown of the figures show that year on year rents increased the most in Wales with a rise of 2.6% to […]
November 7, 2017

UK housing market strengthens with average prices reaching new high

The latest UK housing index shows that the property market remains resilient with prices in the three months to the end of October some 2.3% higher than in the previous three months, the fastest price growth on this measure, since January. The figures from the Halifax index also show that prices over the three month period were 4.5% higher than in the same period in 2016 and the annual rate of growth at 4.5% was higher than in September and the highest growth rate since February. On a monthly basis house prices rose by 0.3% between September and October, following a 0.8% increase in September, taking the average price of a home to £225,826, the highest […]
November 1, 2017

Homes, many in key British regional cities, now selling four weeks faster than in 2012

Residential properties in the UK are selling more quickly than they were five years ago, with the time from being put on the market to being under offer four weeks faster than in 2012. The average time to sell is now 61 days compared to 87 days but the quickest sales are in Bristol with an average of just 34 days to sell, followed by Coventry at 35, Edinburgh at 36, Glasgow at 37 and Gloucester at 39. The research from agents Strutt & Parker also shows that overall only three cities in the UK, Cambridge, Oxford and Aberdeen, now have slower property markets than in 2012. The biggest difference in days to sell between 2012 […]
October 31, 2017

New signs of recovery in the capital

The most recent data from Land Registry has revealed that both the mainstream and premium sectors of Prime Central London have shown a recovery from price falls which followed the introduction of graduated Stamp Duty in Q4 2014. The data, which was analysed by London Central Portfolio in conjunction with independent analysts Acadata, also found that the mainstream sector, where property is priced under the top stamp duty band and which largely represents buy to let property, has seen prices increase by 5.6% from the pre-ARSD peak. This brings average prices to 15.6% above their high point three years ago, pre-Stamp Duty changes in 2014. The mainstream sector is now outperforming England and Wales which has […]
October 30, 2017
UK Supported Housing Property Bonds

New figures claim London needs 66,000 new homes every year to sort out housing crisis

London needs to build 66,000 new homes every year to meet its growing need and put right years of under investment in housing but to do so more Government funding is needed for affordable houses, it is claimed. The Mayor of London Sadiq Khan is calling on the Government to commit to profoundly boosting the funding and powers available to London in the forthcoming Budget on 22 November in order to meet this need. He says that as a first step there must be a return of Government funding for affordable housing to the level it was at in 2009/2010. A new analysis of the figures unveiled by Khan shows that overall Government funding for affordable […]