property prices
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Uncategorised
Agreed – agents need transaction volumes to rise!
Designs on Property tracks and summarises the monthly property indices.
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Housing Market
Annual property price growth set to hit 10%
With demand from buyers continuing to heavily outweigh the supply of homes coming on to the market, residential property prices in Britain’s 20 biggest cities is expected to be increasing by 10 per cent by the end of this year, according to a new report. The latest research by property analysts Hometrack revealed that annual home price inflation is currently running at 8.4 per cent but it estimates that this rate of growth will rise in the coming months, fuelled by high demand and low supply, as well as a strengthening domestic economy, which is fuelling optimism in the market. The report also found that the average price of a residential property rose by 4.3 per cent in the last quarter to reach £226,200, with quarter-on-quarter gains led by Oxford, up 8 per cent, followed by London (6.6 per cent) and Glasgow (6.4 per cent). In contrast, Aberdeen was found to be the weakest performer with no real movement in home prices during the first half of 2015. “Rising demand for property against a backdrop of low supply continues push city level house prices higher,” said Richard Donnell, Director of Research at Hometrack (left). “It looks increasingly likely that city…
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Housing Market
House prices stable as transactions dip
The latest house price data from the Land Registry shows that house prices in England and Wales remained stable on a monthly basis, despite figures from HM Revenue and Customs (HMRC) revealing that there was a drop in transactions. Although prices remained flat overall on a monthly basis, there were parts of England and Wales that saw rises, led by London where the average price of a home appreciated by 0.7 per cent month-on-month. On an annual basis, the Land Registry data revealed that prices rose by an average of 4.6 per cent in the year to May 2015 to £179,696. Again, London led the surge, with prices in the capital increasing by 9.1 per cent year-on-year. “Land Registry data shows that house prices are continuing to march upwards with London and the South East seeing the greatest annual growth,” said Brian Murphy (left), Head of Lending at Mortgage Advice Bureau (MAB). “The trend is not deterring homebuyers, as mortgage approvals are also at their highest since the Mortgage Market Review (MMR) was implemented according to the British Bankers’ Association (BBA). But it does mean that the average borrower is taking out a bigger loan than at any point since…
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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 Norfolk, Gwynedd and London.
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Housing Market
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 West Sussex, Birmingham and London.
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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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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 Somerset, Warwickshire and London.
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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 Warwickshire, Yorkshire and Sussex.
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Features
Great expectations
Suggesting a value to put on a property can be minefield, says Chris Hamer, The Property Ombudsmsan.
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Features
