housing market
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Features
On the ground: we report from Bucks, Essex and Ealing
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we meet members of The Guild of Professional Estate Agents in Colchester, High Wycombe and West London.
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Features
Jersey property market: where every deal goes to court
It may be part of the British Isles but Jersey has a rather different process when it comes to buying a property there.
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Latest property news
Autumn Statement: 40,000 new homes promised
40,000 new homes on their way – that was a good start to The Chancellor’s Autumn Statement. The Government has, again, increased its drive for more affordable housing to help to address what he described as a chronic shortage. The Chancellor echoed the pledge by Theresa May, the Prime Minister, to ensure the economy “works for everyone.” Philip Hammond said that the Government had made great efforts but now must go even further, announcing a further £1.4bn funding injection to help thousands more families to buy a home. The Government says that 40,000 new homes will be built as a result of the funding injection, which, with the Help to Buy Equity Loan Scheme and the Help to Buy ISA, will be used to help first-time buyers, sharing owners who wish to move on. He said that they will abandon the rigid framework set by the current Affordable Homes Programme, with the £4.3bn of current and £1.4bn of additional funding allocated “flexibly” between existing shared ownership and affordable rent schemes. Previous plans indicated that 88pc of funds would be used to build at least 135,000 homes for shared ownership, which are targeted at families with incomes of £80,000 or less,…
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Latest property news
Bill banning tenant fees gives Minister room to exempt
The National Approved Letting Scheme (NALS) says that the proposed total ban on fees charged by letting agents to tenants may be subject to exemptions following an amendment to the Renters’ Rights Bill currently passing through the Lords. The amendment, which was published on Friday by the legislation’s sponsor, Baroness Grender (pictured, left), said that although a total ban on fees was being sought, she had introduced an amendment to to replace the previous prescriptive list that she says would have led to “new names for charges to get round it” and enable the Secretary of State to allow certain kinds of fees. “If evidence emerges of services in respect of which there is value to the tenant in charging a particular fee, this can be done”, she said. “I do not anticipate any such fees but my new amendment allows for the possibility, if concrete evidence was indeed found that a fee for a specific service would be in the best interest of the tenant in some way”. NALS believes this is significant development because it appears to recognise the legitimate charging of reasonable fees by letting agents setting up tenancies. “This amendment is a welcome one. NALS has long campaigned…
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Features
Housing market treading water
Designs on Property tracks and summarises the monthly property indices. Kate Faulkner says, “There’s mixed feedback from the industry as Brexit fears discourage movers.”
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Latest property news
500,000 homeowners aged 55+ want to move but don’t
One in five (19per cent) homeowners aged 55 or over considered moving in the past two years but have not done so...
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Features
Brexit: Gloom, doom or boom?
Andrew Symington, Managing Director, Symington Elvery looks at Brexit and the long term impact on residential property.
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Features
What’s going on in: Chertsey, Stokesley and East London.
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we meet members of The Guild of Professional Estate Agents in Chertsey, Stokesley and Stratford, East London.
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Housing Market
Post Brexit vote market is still buoyant…but only just
The number of properties on the market has increased by 1% since the Brexit vote but the number under offer has dropped by 2.5% and national asking prices are down by 2% reports Jackson-Stops & Staff. The agent has given its verdict on the post-Brexit vote market after looking at 500,000 properties for sale across the UK. “Three months after the UK’s historic vote to leave the EU, the property market remains alive and active [and] there are more properties on the market today than on the day of the Brexit vote,” says chairman Nick Leeming. Predictions during the EU referendum of a bloodbath in London after the Brexit vote have proved to be inaccurate, the JSS research suggests, as it reveals that asking prices in the capital are down by only 3% since mid-June and that “properties priced below £1m are still seeing high levels of interest”. London’s £2m+ prime market is in less good shape. Only 7% of properties in this price bracket are under agreed offer compared to 36.1% nationally, the JSS research reveals. Leeming says this is down to a range of factors including reduced confidence in the prime property following Brexit and the increased Stamp…
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Regional Reports
Salisbury, Northwood, Middlesex and Leamington Spa
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we meet members of The Guild of Professional Estate Agents in Salisbury, Northwood, Middlesex and Leamington Spa.
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