November 10, 2016
So far, 2016 has been a year of change; Stamp Duty, Brexit, May and Trump, to name but a few. And whether you like it or not, these changes may have an influence on the UK’s property market. Interestingly enough, the Brexit discussion and Trump’s presidential campaign shared a lot of topics like free trade, immigration, inflation, tax and healthcare. And comparing the two events, the UK’s decision to leave the EU and Trump’s victory during the presidential election in the United States, has already been done on multiple occasions.
November 9, 2016
Nearly two thirds of estate agents in the UK remain undeterred and unaffected by Brexit as they have not seen activity drop as a result of the referendum vote, a new survey shows. Overall some 64% of estate agents polled by cloud based estate agency software provider Dezrez said they had not developed a Brexit strategy plan as they don’t see the need for one. Their confidence has increased since the vote in June, the poll also suggests. Just after the vote to leave the European Union Dezrez findings found that 22% of estate agents felt they has no need for a Brexit plan but now as of November 2016 that has increased by over 40%.…
November 9, 2016
Residential property price growth in the eurozone continues to exceed the long-term average with no sign of a bubble last seen in the run-up to the financial crisis in 2007, the European Central Bank (ECB) said in its latest Economic Bulletin. Historically low interest rates and unconventional stimulus have driven down borrowing costs across the region, raising concerns among some experts at the ECB that the housing market could inadvertently overheat once again, undermining the bloc’s hard-earned financial stability.
November 8, 2016
New property listings fell in October by 6.9% on average across the UK with four out of five towns and cities seeing a drop in supply during a typically busy month for property market activity. This is in contrast to September when property listings are generally up following the summer lull and suggests that sellers are in no rush to sell before Christmas. Overall 81% of towns and cities saw a drop in property supply with the largest fall in Swansea with a decline of 52% while supply actually rose by 30.9% in Crawley, according to the property supply index from online estate agent House Simple. Indeed, some 19% of towns and cities saw supply rising…
November 8, 2016
Leasehold properties, which can take longer to buy and come with additional costs, are alive and well in England and Wales, particularly in London and Manchester, new research shows. Indeed some 53% of homes in London are leasehold and 46% in Manchester while overall in the country just 15% are leasehold, according to a report from provider of home conveyancing services My Home Move. It points out that recently developed inner cities have the highest proportion of leasehold properties, making up more than 90% of housing stock in some of these areas.
November 7, 2016
Residential property prices in the UK continued to grow in October, up 1.4% and are now 5.2% up year on year, taking the average cost of a home to £217,411, the latest lender index data shows. On a quarterly basis they were up just 0.1% but experts point out that this reflects a slowdown caused by the political uncertainty around the referendum in June on the UK’s membership of the European Union.
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