Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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Movers mapped by Gocompare.com
Brits say ‘hello’ to the Home Counties, as London loses 68,000 residents in one year.
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Average London couple unable to buy Starter Home until 2028
Says JLL in latest residential research findings.
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Property slowdown is a myth for majority of London
‘Normal’ neighbourhoods defy price drops, says Stirling Ackroyd.
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73 per cent of Britons dream of home ownership
And 78 per cent believe that availability of housing is a serious problem.
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Transforming Generation Rent to Generation Buy
Housing Minister says new Housing & Planning Act will ‘unlock the door to homeownership.
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BoE: “Very volatile boom and bust conditions”
The Bank of England has announced plans to introduce more stringent checks on buy-to-let lenders amid concerns that the property investment market is moving into bubble territory.
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Interest in buy-to-let could plummet
Interest in new purchases from buy-to-let investors dropped 27 per cent in March compared to the same month last year as April 1st tax change starts to bite, according to Rightmove. The fall reverses the upward trend between December and February which brought a 24 per cent year-on-year increase in buy-to-let enquiries, indicating a potential slowdown in new investor purchases at least in the short-term. Demand from home-hunters is at an all-time high with a record number of Q1 enquiries, so the pause from investors could give some first-time buyers more of an opportunity to make a move. Some buy-to-let investors took a break from looking for new properties in March as the new tax changes deadline loomed, the new data from Rightmove reveals. Whilst Rightmove recorded its busiest ever Q1 for enquiries to estate agents, the intentions of buyers shifted in March, with the number of people saying they were planning to buy a property to rent out dropping by 27 per cent compared to the same month last year. This contrasts with the increase in interest seen from investors between December and February (+24 per cent year-on-year) as they tried to make last minute purchases before April’s additional…
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Property sales boost was no April Fool
31st March was a busy day for My Home Move, completing a record number of property transactions. To help people complete their property transactions before the 1st April stamp duty changes came into play, My Home Move – provider of mover conveyancing services – alongside many others in the industry worked around the clock to complete a record of 1,210 property transactions on 31st March. This was a significant jump of 40% from the previous record in December last year. My Home Move completed more cases on 31st March alone than 93% of conveyancing firms completed in the whole of 2015. As a result, this marked both a record day and record month of completions for the business and is likely to have been a similar story across the industry. The record day also made it a record month, with My Home Move completing a total of 6,178 mover transactions in March, a 22% increase from its previous monthly record in October 2015 (5,060 completions). Doug Crawford (left), CEO, said, “There was a great amount of dedication last Thursday and in the preceding days and weeks to help customers purchasing an additional property and win the race to save on…
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Does buy-to-let still stack up?
Investors rushed to snap up homes before April’s buy-to-let tax changes - but what’s next? Marc Da Silva reports.
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