The average British property has increased in value by £56.67 a day in 2016, Zoopla has revealed. The overall value of the UK’s 28.9 million homes has risen by more than 7% in 2016 to a total added value of £8.17tn, a new research has revealed. The year’s biggest winner is, according to Zoopla’s study, Diss, a market town in Norfolk with an increase of 16.2%. Zoopla analysed all their price data between 1 January and 7 December 2016 and came to the conclusion that Britain’s housing stock now has got an overall value of £8,165,502,086,907. This is an increase of £559bn since January. When it comes to regions, the report states that England’s East has […]
Last year, a good friend sold her house in central London and moved to the country. I chivvied her all the way. Every time there were hints of backsliding – she worried about schools, about getting the right kind of coffee, about not having close next-door neighbours and the like – I called and nagged. I showed her charts of the ratio between London and non-London house prices, explained that the gap was at a historical high and that if she wanted to make the best possible London-for-not-London trade, 2015 was likely to be the best possible time to do it. Her house didn’t sell as fast as she expected (the turn was already beginning). But […]
The majority of landlords in the UK believe they will be affected by the new tougher mortgage affordability tests and by income tax changes due to be introduced in April of this year. Some 60% said they believe they will be directly affected by income tax relief changes but 29% said that they would not, according to the latest property investor survey from Mortgages for Business. It is thought that these landlords are predominantly likely to be a mix of basic rate income tax payers and landlords who operate their portfolios through limited company vehicles which are subject to corporation tax. And some 11% said that they still did not know if the changes would affect […]
British expats who are buying up investment property are increasingly focusing on homes in the Greater London area and the South East of England. Skipton International has recently published some data suggesting that 40% of expats buy-to-let in Greater London, 25% aim for England’s South East and 10% are hoping to invest in the South West and the North West whilst 15% are focusing on the rest of England and Wales.
Annual house price growth in the UK ended 2016 at 4.5%, the same as in 2015, but in London it was below the national average for the first time in eight years. The latest index data from lender the Nationwide also shows that month on month prices increased by 0.8% taking the price of an average home to £205,898.
As every property expert in the land prepares to unveil their predictions for the market in 2017, it seems there is some consensus as to the general shape of the next 12 months. Nobody is predicting any great moves in prices for 2017, with a seeming period of quiet while the market waits to see how Brexit will affect the whole economy.