Chinese investors are being asked to pump their leftover cash into four great developments across Manchester as they push their Northern Powerhouse initiative with business and politics from the Far East. Ministers hope to attract more than £5 billion in 13 projects from Chinese and international business leaders and four of those developments are in the Greater Manchester region.
The Bank of England is to receive new powers from the Government in order to regulate mortgages for small-scale buy-to-let landlords, Chancellor Phillip Hammond has announced. From early next year, the Bank will be able to limit loan-to-value ratios on buy-to-let mortgages, alongside the minimum amount by which the predicted rental income from a home will exceed mortgage interest payments. This move has been designed to help protect the financial system from any future risks in the buy-to-let market.
Property markets around the world could benefit from the election of Donald Trump as the next President of the United States but a lot will depend on how the country’s economy and dollar performs. Experts believe that it could be good news for US investment in the UK property market as London in particular is regarded as a safe haven for real estate investors while the Canadian market could suffer as Americans look to buy elsewhere. The election result saw the value of the dollar immediately fall and a prolonged dip could have a positive effect in that investors might want to move their money to other international markets, but it could also mean property buyers […]
Prices for property in the UK continued their rise in September as interest from new buyers increased slightly whilst the number of homes being listed for sale dropped. On average, a property in the UK was £217,888 in September, with statistics showing a 7.7% increase year-on-year. Property prices increased by 0.2% between August and September, the Office for National Statistics (ONS) revealed. The ONS said the numbers for September “suggested a period of relative stability during the month”. The ONS referred to data by the Royal Institution of Chartered Surveyors stating that there was a modest increase in enquiries from buyers, furthermore, the number of lending approvals also experienced a rise. The ONS also leaned on […]
Gross mortgage lending in the UK held steady in October but is being driven more by remortgages than new buyers due to a lack of supply in the current housing market. It reached an estimated £20.6 billion, according to the latest figures from the Council of Mortgage Lenders and closely matches September’s gross lending total of £20.5 billion, but is 5% lower than October last year when it was £21.8 billion.
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.