October 17, 2018
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Report reveals the major changes in the UK housing market in last five

Policies and political events have changed the property market in the UK over the last five years with a major new research report showing that increased demand for lettings has had an impact. Renting has increased as a future tenure from 10% to 13% since 2013, reflecting its growing popularity, according to the Housing Futures report from Strutt & Parket which is published every five years. It also found that big cities have become more popular as a preferred location to live, up from 9% to 15% while those that anticipate living in a single person households rose from 8% to 11%. Broadband is now seen as essential for the majority of home movers, up from […]
October 16, 2018
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Rents rise across Britain, with London seeing first annual rise for several months

Residential rents across Britain increased by 1.6% year on year in the 12 months to Hamptons International report which also looked at what properties landlords are buying. A breakdown of the figures shows that in London rents rose 0.1% year on year, the first annual rise in four months while Wales saw the strongest rental growth with average rents up 3.9% year on year, followed by the East up 2.8% and the Midlands up 2.4%. The data also reveals that in the first half of 2018 landlords spent £12.1 billion purchasing rental properties, some £5.2 billion or 30% less than in the first half of 2015 when the total value of homes bought for buy to […]
October 11, 2018
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New home building is up in Britain, boosting the construction industry overall

Construction output in Britain has increased by 1.5% in the three months to August 2018, led by growth of 15% in the North West, some 10 times the national average, official data shows. The value of construction work on new housing in the North West has increased by £386 million this quarter compared to the same quarter in 2017 and output of new infrastructure projects has also risen, according to the figures from the Office of National Statistics (ONS). Northern Powerhouse Minister, Jake Berry, said that a construction boom is underway, with the number of new homes being built up as well as infrastructure. ‘Anyone visiting the North West can see the huge number of construction […]
October 11, 2018
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Housing remains top priority during conference season

The recent Conservative and Labour Party conferences highlighted that the housing market remains a top priority for the nation’s politicians. This was demonstrated by several high-profile housing proposals put forward by both parties at a time when Brexit negotiations continue to dominate the political agenda. With the Budget due out later this month, it’s clear politicians still believe that voters can be swayed by key housing policies. Increased stamp duty for overseas buyers At the Conservative Party conference, which took place in Birmingham between September 30th and October 3rd, Theresa May pledged to increase stamp duty on property purchased by foreign buyers by up to 3%. She said it “cannot be right” that it’s “as easy” […]
October 9, 2018
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House price growth in the UK is steady, data from latest lender index suggests

House prices in the UK were 1.8% higher in the third quarter of 2018 than in the previous three months and 2.5% higher than the same period in 2017, the latest lender property index shows. The data from the Halifax also shows that the annual growth rate slowed from the 3.7% recorded in August and on a monthly basis, house prices fell by 1.4% in September, the second fall in a row, taking the average price to £225,995. Russell Galley, managing director of the Halifax, pointed out that the figures show that house price growth is stable. ‘This is set amongst mortgage approvals and completed house sales remaining broadly unchanged, although a gradual pickup in wage […]
October 5, 2018
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House price growth settles at 2% in September

The latest data and analysis from Nationwide has revealed that the UK housing market saw a small uptick in house prices during September, rising 0.3% after being seasonally adjusted. According to the figures, house price growth has settled at 2%, partially recovering form the previous months crash. However, it wasn’t good news for the whole of the country as The North was revealed to be the weakest performing area during Q3 with prices down 1.7% year on year Robert Gardner, Nationwide’s Chief Economist, had this to say: “Annual house price growth was stable in September at 2%. Indeed, annual house price growth has been confined to a fairly narrow range of c2-3% over the past 12 […]
October 2, 2018
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Plan announced for foreigners to pay more property tax in the UK

Foreigners who buy property in the UK are set to pay a higher rate of stamp duty, the tax payable on purchase, it has been announced. Prime Minister Theresa May told her Party Conference that it is part of the overall strategy to tackle the housing crisis amid concerns that foreign buyers have been using property as a way of stashing money and pushing up prices, particularly in London. There will be a consultation period but it is likely that anyone buying a property who does not pay tax in the UK will find themselves paying a higher rate of stamp duty. Research from York University estimated that 13% of new London homes were bought by […]
September 14, 2018
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New £1 billion fund announced for building new homes in England

The Government and Barclays have announced a £1 billion housing development fund to help deliver thousands of new homes across England. Under the agreement loans ranging from £5 million to £100 million, which will be competitively priced, will be available for developers and house builders who are able to demonstrate the necessary experience and track record to undertake and complete their proposed project. Funding is open to new clients as well as existing Barclays clients, and will put greater emphasis on diversifying the housing market, as at present almost two thirds of homes are built by just 10 companies. A key priority of The Housing Delivery Fund is to support small and medium sized businesses to […]
September 14, 2018
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Remortgage market in the UK reaches decade high for month of July

Residential remortgage market in the UK saw its strongest July for a decade and buy to let mortgage numbers have risen, according to the latest figures to be published. There were 46,900 new home owner remortgages completed in the month, some 23.1% more than in the same month a year earlier and the £8.7 billion of remortgaging in the month was up 26.1% year on year. The data from UK Finance, which represents almost all lenders in the country also shows that there were 32,600 new home mover mortgages completed in the month, down 3.8% than in the same month a year earlier while the £7.3 billion of new lending was the same year on year. […]
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