Search Results for: 1.5 million new homes
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Latest property news
Rents rise 3.2% year-on-year
Rents rose by 3.2 per cent to an average £926 per month in February compared to the same time last year, the latest figures show. The Countrywide monthly Lettings Index for February has identified a fall in tenants’ negotiating power, with the average home in the UK let for 99.9 per cent of the asking rent, the highest such value since 2007, just before the global economic downturn. This figure is highest in London where the average let was agreed at 100.9 per cent of the asking price while it was lowest in Wales at 98.7 per cent. With demand continuing to heavily outstrip the supply of private rental homes, one in five of those renting in the capital pay more than asked for to secure a property of their choice. This equates to £94 a month over and above the asking rent against a UK average of £44 which, over the course of a typical 17-month tenancy, works out to be an additional £1,578 in rent for the average Londoner. Rental price growth in London has unsurprisingly outstripped all other parts of the country since 2007, with rents 34 per cent above their pre-recession record compared to12 per cent…
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Regional Reports
Kent, Bedfordshire and Cardiff
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Kent, Bedfordshire and Cardiff.
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Agencies & People
Life’s a beach
Life’s a beach …or it could be, if Belvoir – or any other business-hungry buyer – came knocking on your door. Nigel Lewis speaks to Commercial and Franchise Director Dorian Gonsalves.
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Housing Market
Boomtime for buy-to-let
Investor landlords expanding portfolios, new pension rules encouraging silver landlords, it’s all going well for BTL, says Marc Da Silva.
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Regional Reports
Devon, London and Dorset
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Devon, London and Dorset.
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Uncategorised
Housing stock at an all time low
Designs on Property tracks and summarises the monthly property indices. Kate Faulkner says, “Too many agents are chasing too few properties… so who will survive the fall out?”
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Housing Market
Pensioner property wealth hits record high
Retired homeowners in the UK now collectively own property worth £861 billion with their total property wealth increasing by more than £33 billion in the past six months, the equivalent of around £1,200 a month each. New research from over 55s financial specialist Key Retirement Solutions says that their total property wealth is now at its highest level since the firm started monitoring the housing wealth of the over 65s five years ago, with pensioners who own their homes outright having earned an average of £7,117 each from their homes in the past six months. Since Key started monitoring the housing wealth of the over-65s, in January 2010, total pensioner property wealth has increased by £81.27 billion – the equivalent of £17,323 each. Its Pensioner Property Equity Index shows over-65 homeowners now own property wealth of £861.188 billion outright as a result of higher property prices across most parts of the UK. Retired homeowners in London saw the biggest gains, at an average of over £20,675 each in the past six months, while homeowners in the South East are more than £14,123 better off and pensioners in East Anglia are £13,105 better off. Only retired homeowners in the North East…
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Latest property news
OTM attracts more members but traffic dispute continues
OnTheMarket.com (OTM) announces that it has now attracted more than two million unique users to its website since launched in late January 2015, but data from Hitwise claims that OTM has got off to a much slower start, while research by Home.co.uk suggests that it still ‘has a mountain to climb’ to overtake Zoopla as the second largest website in the property portal market. Ian Springett (left), Chief Executive of OTM, insists that it “can no longer be questioned” that OTM is now a major property portal as traffic levels to the website continue to grow. He also pointed out that the portal is providing “high quality leads” for its member agents “day in, day out”, which partly explains why it now has close to 5,000 contracted offices – 90 per cent of which have chosen to leave Zoopla, according to Springett. “We are confident in becoming the number two portal within a year to replace Zoopla/PrimeLocation,” said Springett. “We have more than 4,800 contracted offices – 90 per cent of which have chosen to leave Zoopla – and are growing in size as the impact of our multi-million pound advertising campaign hits home and our reputation as a cleaner,…
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Features
Regional round-up
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Kent, London and the Isle of Wight.
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Latest property news
November auction activity dips
Over the past 12-18 months rising house prices have been driving auction revenues skywards and the figures below show this trend continues with gains of 6, 12 and 15 per cent in the monthly, quarterly and yearly total raised comparisons. EIG’s David Sandeman (right) commented: “Activity in the residential auction market was largely comparable to November 2013, with lots offered slightly up [1.5 per cent] and lots sold marginally down [-1.9 per cent] on figures for 2013. The residential total amount raised increased by over 12 per cent in the monthly comparisons, and over 14 percent in the quarterly and yearly comparisons – the third consecutive month that we have seen double-digit rises in this regard.” Auction House Auction House saw an improved success rate of 76.2 per cent in November with 144 properties sold, raising a total of £12.9 million, the company’s latest figures show. In total, the firm achieved 2,659 sales in the first 11 months of 2014 with over £312 million raised. Auction House’s Roger Lake said: “To have posted cumulative sales up by over 15 per cent this year is really gratifying. It also shows that the auctions market is healthy and strengthening, which is good…
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