Property Market
School’s in for property hunters
Parents on the look out for a new home are being driven increasingly by the performance of local state grammars, reports email4property.co.uk, as many wealthier families start to look away from private education in the current financial climate.
Average house price falls 0.8% in January to £156,753
Monthly house prices in England and Wales fell by 0.8 per cent in January, according to the latest figures from Land Registry.
House prices fall 1.8% in February
House prices fell by 1.8% in February, bringing the annual rate of change to -17.6% and the price of a typical house down to £147,746, from £179,358 this time last year, according to the Nationwide Building Society.
RICS: OFT Home Buying and Selling Market Study
Commenting, Gillian Charlesworth, RICS director of external affairs said: "We believe the study represents an important step towards the government recognising that improvements are long overdue in the estate agency sector, where currently completely unregulated or qualified agents can operate with little control.
OFT launches market study into home buying and selling
The OFT has formally launched its market study into home buying and selling, following two months of discussion with interested parties on its scope.
Get on and move up the property ladder
With property prices at their most attractive for years, interest rates at historic lows and a host of incentives available to help homebuyers get on and move up the property ladder, now could be the right time to move, according to national housebuilder, Taylor Wimpey.
Buyers ‘home’ in on traditional properties
“There are some very good buys in the house market at the moment”, says Dean Markall, Sales and Marketing Director at Hillreed Homes, “and we have seen a great increase in the number of sales in January and February compared to the latter few weeks of 2008”. In fact, net sales for Hillreed Homes rose by 160% in January 2009 compared to January 2008.
Don’t move – improve
At this time of economic instability, the housing market is at a standstill. Despite many people wanting to take advantage of lower house prices, the combination of the reduction in mortgage lending and the risk of negative equity has forced many homeowners to ‘sit tight’.
Landlords urged to check tenants’ backgrounds
Landlords are taking unnecessary risks in the current economic environment by failing to adequately check the background of prospective tenants, according to buy-to-let specialist Paragon Mortgages.
RICS: Housing and the credit crunch
Commenting on the Communities and Local Government Committee report into housing and the credit crunch, RICS Policy Officer James Rowlands says: "Low levels of housebuilding are a serious issue that must be addressed alongside mortgage lending as part of the Government's response to the economic situation.
Housing and the credit crunch
The Government must stick to its long term house building targets, despite the credit crunch, but a greater proportion of the homes should be social housing, the Communities and Local Government Committee concludes today.
Overseas investors capitalise on weak pound
Assetz reports that it has seen a 55% surge in enquiries from overseas investors wishing to purchase UK property, as falling property prices combine with a weak pound to create an attractive investment opportunity.
Rental demand - on the up?
Demand for rented accommodation boomed 56% over the past year, according to the UK’s largest lettings agent Your Move. Despite a 7.6% month on month slowdown in the number of people signing up to new leases, rental demand in January 2009 was up a massive 56.4% on 2008 (source: Your Move management data and Bank of England).
Overseas investors capitalise on weak pound
Assetz has seen a 55% surge in enquiries from overseas investors wishing to purchase UK property, as falling property prices combine with a weak pound to create an attractive investment opportunity.
The old wives’ tales landlords should look out for
Nearly a quarter of old aged pensioners fake references when applying for a new property, according to new research published by the Letting Protection Service (LPS).