Latest: Property News

House prices soar in London

House prices soar in London

UK house prices grew at their fastest rate in London in the year to the end of July, according to the latest House Price Index from the Office for National Statistics (ONS). While house prices increased by 5.7 per cent in the capital, they increased by just 2 per cent in the rest of the […]

September 18, 2012 More
Government to amend the Estate Agents Act

Government to amend the Estate Agents Act

The Government is planning to make it easier for websites which display property for private sale to operate. Currently, these sites are governed by the Estate Agents Act 1979 and the Property Misdescriptions Act 1991, and are therefore required to make various checks such as ensuring that homes are described accurately in adverts. The government […]

September 13, 2012 More
NewBuy scheme helps 1,300 first time buyers

NewBuy scheme helps 1,300 first time buyers

The Government’s NewBuy scheme, which was launched in March, has already helped 1,300 first-time buyers onto the property ladder according to the Home Builders Federation (HBF). NewBuy was launched in an effort to increase activity in the first-time buyer market and to help the country’s ailing house building sector. The scheme, which was developed by […]

September 10, 2012 More
Planning rules to be relaxed to boost economy

Planning rules to be relaxed to boost economy

The government has outlined plans to boost Britain’s house building industry, including changes to planning regulations. The current restrictions on extending homes and businesses will be relaxed for a three-year period. This will allow detached homes to be extended by up to eight metres without the need for full planning permission, while all home owners […]

September 6, 2012 More
House prices increased in August says Nationwide

House prices increased in August says Nationwide

House prices have made their biggest jump since January 2010, Nationwide Building Society reports. Despite the recession, the price of the average house in the UK increased to £164,729 in August, just 0.7 per cent lower than a year ago. However, with mortgage approvals at low levels, the building society warned against reading too much […]

August 31, 2012 More
Couples unable to afford family homes

Couples unable to afford family homes

The state of the housing market is causing many couples to put off having children according to housing charity Shelter. A YouGov survey commissioned by the charity found that 20 per cent of childless couples between the ages of 31 and 44 are putting off starting a family because of high housing costs. Many couples […]

August 29, 2012 More
Report tackles shortage of rented homes

Report tackles shortage of rented homes

With soaring demand for accommodation pushing rents to an all-time high, a new report suggests that rules on affordable homes should be relaxed to encourage the building of homes for rent. The average rent paid by private tenants in England and Wales reached £725 a month in July according to property group LSL. The government […]

August 23, 2012 More
Think tank calls for council housing sell off

Think tank calls for council housing sell off

The Policy Exchange, a leading UK think tank, is calling for expensive social housing to be sold as it becomes vacant. This could raise £4.5 billion a year and the money could be used to create the largest social house building programme since the 1970s, the think tank suggests in a new report. Between 80,000 […]

August 20, 2012 More
Average house price falls to £161,000

Average house price falls to £161,000

House prices fell in July, to an average of £161,094 across the country, after increasing in the previous two months. Prices fell by 0.6 per cent in July, compared with the previous month, according to the Halifax House Price Index. Average prices are also 0.6 per cent lower compared with July 2011, the Halifax said. […]

August 6, 2012 More
House price fall accelerates in July

House price fall accelerates in July

Nationwide building society reported a faster fall in house prices in July, as the economy continues to falter. House prices fell by 0.7 per cent in July, the fourth time they have declined in five months, and the fastest fall in three years. The average house price is now £164,389, 2.6 per cent lower than […]

August 1, 2012 More
London and south east affected by house price slump

London and south east affected by house price slump

The fall in property prices has now extended to London and south east England, according to the latest figures from property analytics company Hometrack. Hometrack’s figures for July how that overall house prices fell by 0.1 per cent, representing the first fall in seven months. Compared with June, the number of new homes coming on […]

July 30, 2012 More
Rents rise to average of £718

Rents rise to average of £718

The average cost of rent increased to £718 in June, just below the record high of £720 in autumn last year. With mortgage lenders tightening their borrowing criteria and ongoing economic difficulties, demand for rented accommodation is outstripping supply, causing rents to soar. LSL Property Services’ monthly index recorded a 0.9 per cent increase in […]

July 20, 2012 More
Rightmove reports fall in house prices

Rightmove reports fall in house prices

Property website Rightmove recorded a drop in the average asking price for residential property this month, representing the first fall since January. Average prices have fallen by 1.7 per cent, a drop of £4,138, with demand low due to the wet weather deterring potential buyers from viewing properties. The website also blamed the Olympics for […]

July 16, 2012 More
Number of tenants with rent arrears up 24%

Number of tenants with rent arrears up 24%

The number of tenants more than two months behind on their rent has increased by nearly a quarter over the past year, according to chartered surveyors Templeton LPA, The number if tenants in serious arrears increased by 8 per cent in the second quarter of 2012 to 100,400, its highest level since tenant arrears tracker […]

July 3, 2012 More
House prices stall and could fall

House prices stall and could fall

House price growth stalled in June according to new figures from property analyst Hometrack. New buyer registrations were 0.5 per cent lower in June, the first time they have fallen on a month-on-month basis, for the past five months. Supply continued to increase, causing prices to fall even further. The only place which saw an […]

July 2, 2012 More
Government proposes housing benefit cuts

Government proposes housing benefit cuts

Prime Minister David Cameron has suggested cutting housing benefit for people under the age of 25, in an interview with the Mail on Sunday. Housing benefit is paid to adults on a low income, to help them pay their rent, either to the local council, a private landlord or to a hostel. It is currently […]

June 25, 2012 More
Tenants pay £200,000 more for housing than home owners

Tenants pay £200,000 more for housing than home owners

Over a lifetime, a tenant will pay nearly £200,000 more for their accommodation than a homeowner, Barclays suggests in a new study. Over a fifty-year period it costs an average of £429,000 to purchase a property through a mortgage and to maintain it, the study says, while renting a home for fifty years would cost […]

June 21, 2012 More
Tenants unaware of deposit protection scheme

Tenants unaware of deposit protection scheme

Housing charity Shelter is receiving a higher number of calls from tenants worried about losing their deposit on rented accommodation, despite regulations being in place to ensure this doesn’t happen. Calls to Shelter’s helpline over rental deposits have almost doubled from 1,764 in 2009-10 to 3,288 in 2011-12. Problems may arise when a tenant moves […]

June 20, 2012 More
80% aspire to own their home

80% aspire to own their home

Although house sales have plummeted in the past five years, most people still hope to own their own home in the future. Eight out of 10 people surveyed by the Council of Mortgage Lenders (CML) said they hoped to own their own home by 2022, while three quarters said they hoped to achieve this ambition […]

June 14, 2012 More
House prices unlikely to rise says Halifax

House prices unlikely to rise says Halifax

The Halifax expects house prices to be the same at the end of the year as they were at the beginning, with uncertain economic conditions stifling demand. The bank, which is part of the Lloyds Banking Group, reported a 0.1 per cent fall in house prices in May 2012, compared with May 2011. However, compared […]

June 7, 2012 More