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News Tag: Property News

November 16, 2012

Average rent rises to £744 a month

by Jan Harris
Average rent rises to £744 a month
The cost of renting a home continued to increase in October but at a slower rate, with the average monthly rent in England and Wales reaching £744, according to LSL Property Services. This is 0.4 per cent higher than the average in September and 3.4 per cent higher than in October 2011. October was the seventh consecutive month of rent rises, putting ...




September 6, 2012

Planning rules to be relaxed to boost economy

by Jan Harris
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 will be able to extend ...




August 23, 2012

Report tackles shortage of rented homes

by Jan Harris
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 commissioned report by Sir Adrian Montague, the chairman ...




July 20, 2012

Rents rise to average of £718

by Jan Harris
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.
Rents rise to average of £718
LSL Property Services’ monthly index recorded a 0.9 per cent increase in average rents in June, the third ...




July 20, 2010

London homebuyers pays £20k premium to live near station

by Gill Montia
”London
London homebuyers are prepared to pay a considerable premium to be close to a Tube or train station, according to research from Nationwide. A property 500m from the nearest station is likely to cost 7% (typically £20,300) more than a similar home 1,500m distant. Premiums increase as you move closer towards a station: for example, an identical property located 1,000m ...




October 20, 2009

Distressed sales surge in Midlands and the North

by Gill Montia
”Distressed
Property Portfolio Rescue (PPR) has published its latest UK distress index, showing a surge in the number of distressed home sellers in major cities in the Midlands and the North. In the three months to the end of September, the index rose by 60% in these regions, compared with the same period of 2008. According to the residential landlord, enquiries from ...




October 19, 2009

London leads recovery in asking prices

by Gill Montia
”London
Home movers in London have put the credit crisis behind them and are asking 0.8% more for their properties than in November 2007. In its October round up of market, Rightmove has reported that the Capital is leading the way in positive sentiment for the UK housing market. October has also seen the national average asking price at a higher level than a ...




September 17, 2009

Brits back property as best investment

by David Masters
Brits back property as best investment
Nearly half of UK consumers believe that buying property is the best way to invest money. In a study by Scottish Widows, 48% of those polled said investing in property is the best way to maximise returns on hard earned cash. This figure is a significant increase on 12 months ago, when just 28% of those surveyed cited property as the best choice ...




August 28, 2009

London’s property market bounce to be short lived

by Gill Montia
...




June 26, 2009

Charging Orders – the latest threat to indebted homeowners

by Gill Montia
”Charging
The Citizens Advice Bureau (CAB) claims that lenders are increasingly threatening customers in England and Wales with charging orders, in attempts to intimidate debtors into making unaffordable repayments. A charging order is a means of securing an unsecured loan against equity in the debtor's property. In a new report entitled "Out of order" the charity says evidence from ...




May 15, 2009

Women investors prefer property to saving

by David Masters
Women investors prefer property to saving
Female investors prefer to put their money in property rather than a savings account. A survey by the National Landlord's Association (NLA) found that 74% of the 500 female property investors polled believe bricks and mortar offers a better return than putting their money in a bank. Seventy percent said they plan to expand their property portfolio in the next year, whilst more ...




March 30, 2009

Investors choose property as cash becomes a ‘liability’

by David Masters
Investors choose property as cash becomes a 'liability'
Brits would rather invest money in property or stocks and shares than keep it as cash, despite 12 months of falling house prices and a volatile stock market. Research by the Motley Fool found that 30% of UK adults would invest a £50,000 windfall in property. A quarter (26%) would choose shares, whilst 17% would opt for bonds. Fifteen percent said gold ...




January 7, 2009

Prime country houses catch up with market downturn

by Gill Montia
Prime country houses catch up with market downturn
Upmarket estate agent, Knight Frank, has reported that owners of prime country houses are becoming more realistic when it comes to selling. Prices for prime country residences fell by an average 16% during 2008 but the decline accelerated in the last three months of the year, when values plummeted by 9%. City job losses in the fall out from the ...




January 6, 2009

Nationwide house price index down 15.9%

by Gill Montia
Nationwide house price index down 15.9%
The latest house price figures from the Nationwide show the average cost of a UK home falling by an annual 15.9%, in December. During the month values took another 2.5% dip, taking the average cost of a property down to £153,048, or £29,000 less than a year earlier. According to the building society's index, prices have now fallen for 14 consecutive months ...




December 18, 2008

BSA survey reveals shift in housing market sentiment

by Gill Montia
BSA survey reveals shift in housing market sentiment
The Building Societies Association (BSA) has published the results of its latest Property Tracker survey, which indicate that more people believe that now is a good time to buy a home. Forty-six per cent of those surveyed were, to some extent, positive about making a purchase, compared with 34% in September and 27% in July. Fifteen per cent strongly disagreed with ...




December 10, 2008

Countrywide mounts end-of-year property sale

by Gill Montia
Countrywide mounts end-of-year property sale
Estate agency network, Countrywide, is mounting and three day end-of-year property sale, from tomorrow (Thursday). According to a report in The Times, around 7,500 vendors across the UK are taking part, offering properties worth a collective £1.65 billion. Some homeowners have cut prices by up to 30% while others, who have already made reductions, are shaving much less off asking prices. Countrywide's 1,000 strong ...




November 4, 2008

Britons review faith in property to fund retirement

by Gill Montia
Britons review faith in property to fund retirement
Investment firm, Alliance Trust, has revealed that the property market downturn has shaken homeowners' confidence in funding part of their retirement by cashing in on the family home. According to recent research by the company, only 33% of Britons list property investment among their top three methods of pension savings. The proportion compares with 43% a year ago. Correspondingly, the number ...




October 23, 2008

Rightmove cuts staff as vendors overvalue homes

by Gill Montia
Rightmove cuts staff as vendors overvalue homes
Rightmove is cutting staff numbers by 20% and making 60 people redundant. The property website, which advertises around 90% of homes for sale in the UK, has seen sales plummet and is now joining High Street estate agents in laying-off staff. The company says that while these are the first redundancies it has made as a result of the downturn in the ...




October 20, 2008

60,000 homeowners a month enter negative equity

by Gill Montia
60,000 homeowners a month enter negative equity
The downturn in the property market is forcing 60,000 homeowners a month into negative equity. According to the credit rating agency, Standard & Poor's, research suggests that 335,000 homes will be worth less than their mortgages by the end of October, a rise of 260,000 over four months. If the trend continues, the number of homes with mortgages above their value ...




October 13, 2008

Birmingham blighted by fall in city centre flat prices

by Gill Montia
Birmingham blighted by fall in city centre flat prices
Average property prices in some of the UK's city centres are showing sharp falls as a result of the plummeting values of flats and apartments. According to research by property price website, mouseprice.com, the value of city centre flats in Birmingham have fallen more steeply than anywhere else in the UK. Some areas of the city have seen prices decline ...