Property Market
Prime central London property prices fall 1.6%
Prices for prime central London residential property have fell by 1.6% in July, the third consecutive month of price falls, according to the Knight Frank Prime Central London Index.
NAEA urges consumers to look locally
Following the release of the Nationwide house price index today, Peter Bolton King, Chief Executive of the National Association of Estate Agents (NAEA), the residential sales arm of the National Federation of Property Professionals (NFOPP), said: "The report in question started at a period of time when the property market was experiencing phenomenal growth.
Cash-strapped students-to-be opt to stay at home
More than one in four (27 per cent) young people starting university this year will have to live with their parents to save money, according to a report from Lloyds TSB Student banking.
Happy Birthday HIPs - will wisdom finally come with age?
This week the highly controversial Home Information Pack (HIP) will be celebrating its first birthday since its launch into the market place on 1st August 2007.
Sharing in a shared ownership home
For first time buyers keen to gain a foothold in the property market, sharing provides the perfect answer. That is the view of Katy Dines (21) who has recently moved into Bellway’s Prospectus* development in Beaulieu Park, Chelmsford. She is not only buying into a Shared Ownership scheme but is sharing the burden by buying on a 50:50 basis with a friend.
First time buyer gets place of his own with Government help
Matthew Sawyer has taken his first step onto the property ladder, thanks to a special initiative by Government agency English Partnerships and Barratt Homes. He was able to buy a 2-bedroom house at Hardwick Green in Stockton using the First-time Buyer Initiative (FTBI). This scheme helps aspiring first-time buyers, who cannot otherwise afford to buy a home outright, to purchase a home for as little as 50 per cent of the price with English Partnerships providing the remainder.
Buy new and you could enjoy lower fuel bills
With reports that household energy bills could increase by as much as 40 per cent this winter as oil and wholesale gas prices hit record highs, now is the time to ensure your home is as energy efficient as possible. The increases in energy costs could mean households paying £400 more a year on average for their gas and electricity, and this figure could rise even higher if your property is poorly insulated.
Barratt's part exchange scheme gets things moving
Barratt pioneered part exchange more than 30 years ago and its unrivalled Part Exchange Scheme is still helping to get things moving for buyers today. As well as assisting new buyers - it is offering some great deals to buyers who want a second hand property too.
Avoid crime hotspots, get the Areaview
The recent British Crime Survey (BCS) report, Crime in England and Wales released by the Home Office, clearly demonstrates that the majority of crime is property related, with 56% of offences against homes or vehicles.
House price falls continue in July
The price of a typical house fell by 1.7% in July, bringing the annual fall to 8.1%, according to the Nationwide Building Society. This brings the average price to £169,316, almost £15,000 less than this time last year and its lowest level since August 2006.
Stability the key for buy-to-let
Buy-to-let yields remained stable at 6.4% for the second consecutive month in June, according to Paragon Mortgages' Buy-to-Let Index. Average UK rents, which had been rising rapidly, have stabilised just short of £1,000 a month, and remain 9.3% higher than a year ago.
Government support for flood risk households
Defra (Department for Environment, Food and Rural Affairs) is setting out plans to contribute at least £5 million to a scheme to support households in England which face a particularly high risk of flooding but which are not protected by traditional community level defences.
NAEA cautiously welcomes consultation on PIQ
Following the CLG announcement that Property Information Questionnaires (PIQ) could become the new mandatory element of HIPs, Peter Bolton King, Chief Executive of the National Association of Estate Agents (NAEA), the residential sales arm of the National Federation of Property Professionals (NFOPP), comments:
Proposals to enhance Home Information Packs
A proposal to further enhance the home buying and selling process for consumers by presenting information in a simpler way up front in a Home Information Pack, has been announced.
House prices inseparable from divorce
Falling house prices may result in falling rates of divorce, new data from Savills Research has shown. The slowdown in the economy has put pressure on many households, though struggling couples may choose not to divorce because they will have less equity in their property to share upon separation.