D_Property

Manchester saw an increase in house prices of almost 9% over the last 12 months. And interest seems to be growing at almost the same speed.

Post Office Money Mortgages named Manchester as one of the cities with the highest level of popularity in the UK.

Examining the average time it takes to sell a property, the report had a closer look at 20 major cities across the UK and found that, on average, it takes 91 days to sell.

And although average house prices in Manchester went up by 8.9%, to 149,722, properties are still being snapped up 14 days faster than the national average, as they sell in just 77 days.

This is a decrease of of 22.7% compared to one year ago when it took 99 days to sell a property.

With this, Manchester is the 11th fastest city to sell a home and ahead of its Northern Powerhouse brothers, Birmingham (takes 80 days) and Liverpool (takes 108 days).

The quickest to sell, however, were Bristol with 51 days and Edinburgh with 53 days.

Cassie Sugrue, from JP & Brimelow in Didsbury, told MEN: “We kind of class Didsbury as a mini London really as they go quite quickly, compared to other areas.”

“We’re coming up to a bit of an awkward time with Christmas coming up, properties are staying on the market a little bit longer.”

“But yes, two weeks is the maximum time, if they are priced correctly. If a house doesn’t sell in Didsbury it’s because they aren’t priced correctly.”

John Willcock, Head of Mortgages at Post Office Money, said : “House prices continue to rise across the country but eager sellers should remember that this might not be any guarantee of a successful sale.”

“The attractive asking prices can lead many people to put their property on the market, leading to competition in the local market. Even property hotspots such as London are not necessarily guaranteed to sell quickly.”

Source: www.buyassociation.co.uk

November 15, 2016
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Manchester sells property two weeks faster

Manchester saw an increase in house prices of almost 9% over the last 12 months. And interest seems to be growing at almost the same speed. Post Office Money Mortgages named Manchester as one of the cities with the highest level of popularity in the UK. Examining the average time it takes to sell a property, the report had a closer look at 20 major cities across the UK and found that, on average, it takes 91 days to sell.
November 14, 2016
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UK Government announces £18 million fund to speed up new home building

The UK government has confirmed a new £18 million fund to speed up house building on large sites in England and that it says will provide thousands of new homes where people want to live. From today councils can bid for a share of the ‘capacity fund’ to tackle planning issues that can cause delay and prevent builders from getting on site and starting work quickly. Housing Minister Gavin Barwell said the money will help accelerate delivery of up to 800,000 homes and infrastructure across large sites in England and is part of a wider package of measures to increase the number of much needed homes in local areas.
November 14, 2016
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Brexit will affect UK house prices but not sales, confidence index suggests

Confidence in the UK housing market has fallen to its lowest point in three years as many think Brexit will affect residential property prices, new research has found. It means that house price optimism is now at its lowest since June 2013 although consumers believe the referendum result will have a minimal impact on buying and selling, according to the latest Halifax Housing Market Confidence Tracker.
November 11, 2016
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Trump Win Could Boost Prime Central London Property Market

Yesterday’s Trump win in the US presidential election could provide a welcome boost to the prime central London property market, according to recent research. The latest study by online estate agent eMoov.co.uk found that demand in the prime central London property market has risen by 11% since August, now standing at an average of 10%. Trump’s surprising victory could further this apparent resurgence in the prime central London property market, as Americans may begin to look across the pond at potential investment opportunities.
November 11, 2016
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Lenders and brokers call for a more cohesive UK housing policy

Lenders in the UK feel there is no cohesive housing policy and not enough backing for private house building, social housing and shared ownership, a new survey has found. Constant ministerial reshuffles are negatively impacting on housing policy and brokers and lenders would like to see more consistency as the current situation is adversely affecting the mortgage and property markets, according to the latest member survey from the Intermediary Mortgage Lenders Association (IMLA).
November 10, 2016
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House prices experienced biggest rise since March

According to Halifax’s latest house price report, October saw a house price increase of 1.4%, making it the biggest monthly rise since March. After Nationwide published its more pessimistic outlook on property prices recently, Halifax has now published its counterpart giving a more positive feedback for October 2016.
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