Latest: Property News

Fewer first-time homeowners seeking debt advice

Fewer first-time homeowners seeking debt advice

The number of first-time homeowners in their twenties seeking help from the Credit Counselling Service (CCCS) fell to 3,008 in 2011, from 4,489 in 2009. The charity, which assists people in financial difficulty by providing free debt advice, suggests this is due to low interest rates. The Bank of England’s base rate has been at […]

June 6, 2012 More
Tenants spending half their wages on rent

Tenants spending half their wages on rent

Rent accounts for a half of income for a third of UK tenants, with the average UK rent now reaching £745.97 per month. New figures from Rightmove suggest that the average tenant spends 38 per cent of their wages on rent and this figure increases to 40 per cent in the South East and London. […]

June 1, 2012 More
House prices fell in April

House prices fell in April

Land Registry figures confirm that house prices fell last month, after surveys by the Halifax, Nationwide and the Royal Institution of Chartered Surveyors all reported a decline. The Land Registry said that the price of houses in England and Wales fell by 0.3% in April, with the average house price falling to £160,417. The decline […]

May 29, 2012 More
Rightmove reports property downsizing trend

Rightmove reports property downsizing trend

Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the […]

May 21, 2012 More
Charities call for urgent action on housing crisis

Charities call for urgent action on housing crisis

A new report claims there is an urgent need for more affordable homes and says that five key housing issues are getting worse. The Housing Report published by the National Housing Federation, homelessness charity Shelter and the Chartered Institute of Housing, calls on the government to ‘get Britain building’ in order to provide the homes […]

May 17, 2012 More
Price of seaside houses doubles

Price of seaside houses doubles

Homes by the sea have shown a greater price increase than inland properties, according to the latest figures from the Halifax. The price of houses in seaside towns has increased by 97 per cent over the last decade, compared with a 95 per cent increase for the whole of England and Wales. In Seaham, County […]

May 14, 2012 More
Home repossessions stop rising

Home repossessions stop rising

The first quarter of 2012 saw 9,600 homes repossessed, the same as in the first quarter of 2011, breaking a run of year-on-year increases. According to the latest figures from the Council of Mortgage Lenders (CML), repossessions were 10 per cent higher than in the fourth quarter of 2011, when 8,700 homes were repossessed. However […]

May 10, 2012 More
Survey puts a value on good neighbours

Survey puts a value on good neighbours

Almost half of those buying a home would be willing to fork out extra to guarantee they would have good neighbours. A survey of 2,011 adults, carried out by findaproperty.com, suggests that house purchasers would pay around 7 per cent more, or £15,321 on an average home, for the peace of mind of having quiet […]

May 8, 2012 More
Average house price dipped in March

Average house price dipped in March

The average price of a house in England and Wales fell by 0.6 per cent to £160,372 in March according to new Land Registry figures. However, there were wide regional variations with prices falling by 1.8 per cent in London and 4.1 per cent in Wales, but increasing by 5.6 per cent in the North […]

May 1, 2012 More
Sales of £1m homes fall 5%

Sales of £1m homes fall 5%

The number of houses sold in the £1 million to £2 million price bracket fell by 5% to 6,911 in 2011 according to a report from Lloyds TSB based on figures from the Land Registry. The figures represent the first annual fall in million-pound sales since 2009. In contrast, sales of homes priced above £2 […]

April 27, 2012 More
Asking prices reach all time high

Asking prices reach all time high

The asking price for property in the UK has reached record high levels, boosted by a surge in prices in London, according to property site Rightmove. The average asking price for property in England and Wales increased by 2.9 per cent in April to £243,737 Asking prices in London increased by 2.1 per cent to […]

April 16, 2012 More
People waiting until 30 to buy first home

People waiting until 30 to buy first home

The average age of a first time buyer in the UK has increased to 30 according to research by Clydesdale and Yorkshire Banks. In the face of large mortgage deposits, a shortage of affordable housing and pressure on personal incomes, many potential house buyers have to wait longer before they can afford to take their […]

April 13, 2012 More
Mortgage fees and energy costs soar

Mortgage fees and energy costs soar

Mortgage fees have increased by 27 per cent in just three years, according to new data from independent comparison site Moneyfacts. The average mortgage arrangement fee is now £1.502, which is £321 more expensive than it was in 2009. While residential mortgage rates have fallen over the same period, helped by a record low Bank […]

April 11, 2012 More
Hometrack reports increase in house prices

Hometrack reports increase in house prices

House prices increased by 0.2 per cent across the UK in March, according to property analytics business Hometrack, representing the first price rise in 20 months. The increase was helped by increased demand from first time buyers, a scarcity of homes on the market and strong interest in properties in London from overseas buyers. First […]

April 2, 2012 More
House prices and mortgage approvals fall

House prices and mortgage approvals fall

House prices have fallen for the first time in six months, with the decline attributed to changes in stamp duty. The average house price in March was £163,327, 0.9 per cent lower than in March 2011. It was the largest fall in house prices since June last year. Nationwide’s figures showed a fall in nearly […]

March 29, 2012 More
Land Registry reports fall in multi-million home sales

Land Registry reports fall in multi-million home sales

The number of £2m-plus homes sold in England and Wales fell to 103 in December 2011, 18 per cent lower than the figure for December 2010. Eighty of the £2m-plus properties sold during the month were located in London, where prices have been rising faster than in other parts of the UK. The most popular […]

March 23, 2012 More
Property prices up 5% in March

Property prices up 5% in March

UK house prices increased by £3,687 to £236,939 in March, a 4.9 per cent increase compared with the 2011 first quarter. The figures, from Rightmove’s house price index, represent the largest first-quarter rise in property prices since 2004, boosting hopes for an continued improvement in the market for the rest of the year. In London, […]

March 20, 2012 More
Stamp duty rush causes rents to fall

Stamp duty rush causes rents to fall

Rents on private accommodation fell by 0.6 per cent last month, to an average of £707, according to the latest Buy-to-Let Index from LSL, a provider of residential property services. The agency suggests that the fall is likely to be temporary as it is related to an increase in the number of tenants deciding to […]

March 16, 2012 More
UK property market improves

UK property market improves

Signs are emerging that the UK property market is slowly starting to improve. According to the latest figures from The Royal Institution of Chartered Surveyors (RICS), the number of house sales increased in January, helped by first-time buyers rushing to secure a purchase before the end of the stamp duty exemption on homes under £250,000. […]

March 13, 2012 More
House prices down 1.1% in February

House prices down 1.1% in February

House prices fell 1.1 per cent in February according to The Halifax, contradicting earlier figures from Nationwide suggesting that property prices have increased. According to the Halifax’s three monthly index, house prices were 1.1 per cent lower in February than in the previous three months. The mortgage lender’s annual index showed that property prices fell […]

March 7, 2012 More