According to the latest report from CML, house purchase loans have increased in the capital by 12% on the quarter, but remain 16% down on the year. CML reported that home buyers in London took out 19,200 loans, worth £6.2bn, a 12% rise compared to the second quarter but down 16% compared to the same quarter in 2015. The value of these loans was up 15% compared to the previous quarter but down 14% compared to Q3 2015.
Households across the UK are more optimistic about property prices than they were just after the country voted to leave the European Union, the latest sentiment index shows. The House Price Sentiment Index (HPSI) from Knight Frank and IHS Markit has been above 50 for four months in a row following a low recorded in July although November’s reading was a slight decrease from the 55.7 recorded in October but looking ahead the outlook is even more positive. November is also the second consecutive month during which household perceptions eased, but the index report says this mirrors the wider trend in house price growth since the referendum vote and suggests stability but there is north/south divide. […]
More than 92 per cent of landlords believe the government is anti-landlord and want the Chancellor to back them in this week’s Autumn Statement. A snap survey conducted by Martin & Co – the UK’s largest lettings and property management franchise business with 190 offices – reveals the anger felt by the majority of landlords surveyed by the agency.
There have been further calls for the government to scrap recent changes to stamp duty today as the latest reseach from Stirling Ackroyd suggests that stamp duty must be cut to get the property market moving. According to the report, house prices at the top of the London property market have been hammered by George Osborne’s stamp duty reforms, with the west London enclaves of Kensington and Notting Hill – the former Chancellor’s home – seeing the biggest price drops.
According to the latest data released this morning from Halifax, house prices in the three months leading to October are 5.2% higher than in the same period a year earlier. This compared to 5.8% in September and continues the downward trend seen over the past six months after the annual rate reached 10.0% in March. October’s 5.2% is the lowest yearly growth rate since July 2013 (4.6%).
Would be first time buyers believe that not having to pay stamp duty would make buying a home more affordable as the property tax is a significant barrier to doing so, a new poll shows. Some 60% of those looking to get on the housing ladder in the UK said paying no stamp duty would make it more likely they could buy their first home while 22% said it would not make a difference, according to the YouGov survey for Yorkshire Building Society.