Direct Property News

November 22, 2016

Top agency says government seen as anti-landlord, pure and simple

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.
November 22, 2016

Further calls for government to cut stamp duty

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.
November 21, 2016

House price growth flattens in October

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%).
November 21, 2016

Survey suggests stamp duty is significant barrier for first time buyers

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.
November 18, 2016

Remortgages drive growth in UK home lending market

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.
November 18, 2016

Property prices went up in September due to more enquiries and fewer listings

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 […]
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