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Housing Market
Political leaders vow to tackle housing crisis
High residential property prices are the single biggest concern among home-hunters, a new Rightmove survey reveals. The latest data from the property portal shows that asking prices for homes on sale in England and Wales hit an all-time of £288,133, on average, in the month to early April, pushed up by a drop in the number of properties on the market, creating a lack of choice in the market, which incidentally, is the second biggest concern for house-hunters. Miles Shipside (right), Rightmove Director and Housing Market Analyst, commented, “April’s Rightmove House Price Index reported an all-time high in asking prices this week of £286,133, setting an interesting challenge for political leaders. Failure to meet house-building targets since the eighties, nineties and noughties to match forecast housing demand has been a major factor in upwards price pressure both in the property sales and private rented sectors. “ As the cost of housing is a key concern for many home-hunters Rightmove asked David Cameron, Ed Miliband and Nick Clegg for their proposed solutions to make more affordable homes available, and what else they would do to try and solve the UK’s housing problems. Here are extracts from the interviews with the three…
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Housing Market
Scottish rents soar
Scottish rents rose sharply in 2014 as the market continues to see a definite trend for rented property in Scotland, new figures show. With many people struggling to raise the necessary savings required for a deposit to buy a property, they are opting to rent property instead, driving rental prices higher in the process. According to the latest Citylets report, figures to the end of December 2014 show that national rents have risen 7.9 per cent in the last year to stand at an average of £732 per month. This contrasts with just one per cent growth in the preceding year. The Scotland figure is heavily influenced by strong annual rises in three of the country’s main cities with Edinburgh at 9.5 per cent, Glasgow at 9.4 per cent and Aberdeen at 8 per cent. By contrast, Dundee registered a rise of only 3.2 per cent over the year. The fourth quarter of the year is usually the quietest time for lettings activity where seasonal falls are common. However, this year’s dip in average national rents was only £4 down from the country’s record high of £736 seen in Q3 of 2014. Commenting on the latest findings, Citylets MD, Thomas…
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