Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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Shocking report reveals rapid growth of Airbnb-dominated short-lets sector
Published today by ARLA Propertymark, the report predicts that up to half a million rental homes could be taken out of the traditional sector as landlords tire of increasing regulations and taxes.
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Yes, the ‘Boris Bounce’ really is happening, says leading research firm
There has been fierce debate over whether the market has picked up since the General Election, but figures from TwentyCI do point to a pick-up in activity.
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An end to ‘generation rent’ moaning? Government reveals home-owning boom among young
More young people are ditching their takeaway coffee habit and spurning gym membership to save for a deposit on their first home, the latest English Housing Survey reveals. Help to Buy, record-low mortgage rates and the Bank of Mum and Dad have all evidently helped to boost numbers getting on the property ladder. New government figures show there are now as many 25 to 34-year-old home-owners as there are renters. After more than a decade of decline, the proportion of this age group in owner occupation has risen to 41%, while the proportion in the private rented sector has dropped from its peak of 48% in 2013-14 to 41% in 2018-19. Funding sources According to the latest English Housing Survey, the average first-time buyer was 33, unchanged from the previous year. Most (85%) funded the purchase with savings, while 34% got help from family or friends, and a lucky 6% used an inheritance as a deposit. Joseph Daniels (left), founder of modular developer Project Etopia, says Help to Buy, both the equity loan and the ISA, and Stamp Duty relief are behind the march of the younger first-time buyers powering a recovery in home ownership. However, he warns that falling…
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‘No link’ between short lets and supply problems in traditional rental markets, says trade body
UK Short Term Accommodation Association denies campaigners' claims as research shows one in 50 homes in London are on Airbnb.
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Stop saying the property market is broken when it’s not, says Faulkner
Leading industry consultant Kate Faulkner says media headlines and many industry market reports misrepresent affordability in the property market and put off first time buyers.
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Rents rising as landlords exit the market and stock contracts, says latest report
Government's attempt to make investing in the private rental market more expensive and bound by red tape are having the predicted effect.
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Zoopla unveils its annual ‘State of the Property Nation’ survey
Report says that agent confidence in the market has reached a three-year high, having surveyed 6,000 people and 650 agents across the UK.
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The Boris bounce has arrived says estate agency Chestertons
39-branch estate agency says sales enquiries have surged by 76% since the New Year and new buyer registrations are up by 15%.
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True cost of Phil and Kirsty’s ‘love it’ TV property advice: £54,000
Phil and Kirsty are so enshrined in TV property mania they don’t even need surnames, but do estate agents make enough use of the dynamic duo’s advice? If not, perhaps they should – even if it’s ‘just a refresher’. With, hopefully, a less anxious, more lively property sales market – 2020 should be a great year – if you have the vision… So here’s some food for thought, inspired by ‘Love it or list it?’ and kindly supplied by www.insulationexpress.co.uk. After watching series 1-4 of the TV show, they uncovered that the average Love It or List It home renovation costs £54,111. And the programme has also proved that many potential buyers see a home and immediately ‘see’ the potential problems. However, the smart agent has suggestions for a solution to practically anything, but this is a launchpad for your own list of potential issues and solutions. Problem Solution Notes A lack of space Add a loft conversion or an extension to the house. Or if you’re on more of a budget, changing the layout of your home i.e. switching the kitchen and the living room. 64% of ‘participants claimed a ‘lack of space’ was their main reason for wanting to…
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Online estate agents take 10% of market for first time within sub-£200k sector
Research by TwentyCI suggests online estate agents are gaining traction among budget home movers and particularly in the NW, West Midlands and Yorkshire.
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