Search Results for: 1.5 million new homes
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Latest property news
House sales to top 1.5 million this year as prices rise by 6.6%
Zoopla reports extraordinary figures for this year including sales running at 400,000 more than a normal year.
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Latest property news
COVID to cost OTM £2 million as it also reveals an extra 1,000 paying agents
The portal reveals increasing revenues and additional paying customers, but also reveals that its 33% discount offered during the crisis, will cost it dear.
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Latest property news
England’s 1.5 million private landlords to join compulsory redress scheme
Shock announcement is part of significant widening of redress scheme membership for landlords, student housing providers, new homes developers and park home operators.
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Latest property news
Budget 2017 – big news for first time buyers, landlords and tenants
Chancellor Philip Hammond has made several key housing announcements that will impact both the sales and lettings sectors of industry and which he said was part of a £44 billion package. “House prices are increasingly out of reach for many and it takes too long to save for a deposit and rent absorbs too much of people’s ability to save for a deposit,” he said during his speech. The most important of these is that Stamp Duty is to be abolished for first time buyers and, in more expensive areas of the UK such as London, the first £300,000 of a property’s sale value exempted from Stamp Duty, if priced less than £500,000. This, the chancellor said, would remove any Stamp Duty obligations for 80% of first time buyers. Other measures included enabling councils to charge a 100% council tax premium on empty properties – which may force many landlords to either rent out their properties or sell them. “Penalising empty home owners with a 100% council tax premium is unlikely to really be a deterrent for people who are likely to be high net worth,” says Nick Leeming, Chairman of Jackson-Stops. “If they don’t need the rent, this penalty…
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Latest property news
80% of UK buyers unimpressed by newbuild homes
The British public are falling out of love with newbuild homes and most would prefer to see the billions being poured into developments spent on refurbishing existing traditional housing stock instead. Research among 2,000 people reveals that 81% of them are “unenthused” about living in a new-build home while 79% said the government should focus its efforts and funding on refurbishing existing, run-down properties. The figures during the same week when NHBC revealed that the number of new homes registered within its scheme decreased by 7% to 29,123 during the second quarter of the year. The government is concentrating its efforts on new-build to fill the gap between demand and supply in the UK, and says it will build 1.5 million new homes by 2022. But former housing minister Grant Shapps recently said two million homes need to be built as soon as possible to achieve balance in the property market. More new homes Over the past 12 months 147,960 new homes have been built and, supported by the government’s Help to Buy scheme, the number of new homes coming to the market increased by 21% year-on-year during the first three months of the year, figures from the Department of…
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Features
How’s business in: Cumbria, Oxford and Newcastle upon Tyne?
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Cumbria, Oxford and Newcastle upon Tyne.
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Agencies & People
Sellers warned to beware of agents who list homes on OTM
Homeowners who want to sell their properties could miss out on potential buyers, as thousands of estate agents continue to stop listing homes on either Rightmove or Zoopla, as a result of OnTheMarket.com’s (OTM) ‘one other portal’ rule requiring their member agents to stop advertising on either website, Zoopla has warned. Various agents have in recent weeks stopped listing properties with Rightmove, but it is Zoopla that has been most affected by the new OnTheMarket website, with a larger share of agents opting to cancel their subscriptions to Zoopla, in accordance with OnTheMarket.com’s strategy. Ian Springett (left), Chief Executive of OnTheMarket.com, in a press conference recently, said that OnTheMarket “want to keep growing” and get to the “number two position” in the portals market “as quickly as possible” and at the expense of Zoopla. But by preventing their member agents’ from listing homes on both Rightmove and Zoopla, which between them get more than 100 million hits a month, Zoopla argues that OTM is restricting consumer choice and the potential market reach of those vendors and landlords trying to find buyers or tenants for their properties. Lawrence Hall (right) of Zoopla said, “Marketing a property as widely as possible is…
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Land & New Homes
Rayner likens housing target to her running a sub-five-hour marathon
Angela Rayner says she is keeping the "challenging" 1.5 million new homes target, but compares it to her "running a marathon in less than five hours".
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Housing Market
House prices set to fall under government plans, minister admits
Matthew Pennycook told MPs that by setting a target of 1.5 million new homes the government will be responsible for hitting property prices.
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Land & New Homes
Shock data reveals housebuilding has hit ten-year low
Despite the Government’s pledge to build 1.5 million new homes, house building numbers have fallen since they came to power.
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