Property Market
New home prices surge
The final quarter of 2006 saw the average price for a new home surge, according to SmartNewHomes.com New Homes Index. While prices across the market as a whole experienced a fall in December, new home prices bucked the trend, up 0.1% on the previous month and 2% over the final quarter of 2006.
Average house price nears £200,000
The average house price in the UK in November 2006 stood at £199,467, up from £197,987 in October 2006, according to the Department for Communities and Local Government (DCLG).
Sky high tenant demand
Tenant demand for rental properties is at its highest rate ever, with almost a third of landlords stating that demand is growing or booming, according to a recent survey of landlords by Paragon Group.
Prime Central London house price growth is strongest for 27 years
Prime central London property prices grew by a staggering 28.6% during 2006, the highest rate of growth since June 1979, 27 years ago, according to the latest Knight Frank Prime Central London Residential Sales Index.
UK private housing stock worth £3.8 trillion
Halifax calculates that the value of the UK's private housing stock rose by 12% or more than £400bn in 2006 to £3.8 trillion. The value of the housing stock has increased by 78% over the last five years.
North West property giant becomes Crosby Lend Lease
Crosby Homes NW, whose award winning developments include Greenquarter, Bauhaus, the Hacienda and No 1 Deansgate, is to reflect its acquisition by Lend Lease, the leading international retail and residential property group by changing its name to Crosby Lend Lease.
Scotland popular with new home buyers
Scotland proved the most popular destination for new home buyers in 2006, with more buyers looking to move into the region than any other destination in the UK, fuelling unprecedented price rises.
Rate rise is ‘premature and disappointing’, say Estate Agents
The widely unexpected rise in interest rates today from 5% to 5.25% has been met with by surprise from the National Association of Estate Agents (NAEA), which believes that not enough time has been given for the effect of the November rate rise to be fully felt.
Carbon zero homes
David Bexon, Managing Director, SmartNewHomes.com responds to Yvette Cooper’s speech, made at the House Builders Federation Roundtable summit, 09 January 2007:
Cube buys Lehman’s share in Picasso Investments for £50m
Cube Real Estate, the London-based property investment company, has bought out Lehman Brothers 49% shareholding in Picasso Investments, the joint venture launched by the two companies in October 2002.
Four shows in one – the hot property event for 2007
Bring your ideas, your plans, your dreams. Whether you yearn for a barn conversion, a high tech listed farmhouse, a cutting edge contemporary home or a glass basement extension, The National Homebuilding & Renovating Show at the NEC from 22 to 25 March is a ‘must visit’ event.
Latest interest rate rise unlikely to affect 2007 house price growth
Savills believes the latest interest rate rise is unlikely to affect 2007 house price growth, but it could have a major impact on consumer confidence if they believe another interest rise may occur, according to Savills residential research.
Interest rate rise to bring reality to the property market
January’s quarter point interest rate rise to 5.25 per cent may prove to be a major reality check for speculators hoping to profit from further house price rises and encourage them to sell now and help to feed the massive demand for property. The rise is not, however, expected to meaningfully reduce buyer demand, which has been “phenomenal” across Winkworth offices.
Early feedback from roll out proves consumer demand for HIPS
Feedback from the early roll out of Home Information Packs (HIPs) has indicated that consumers are welcoming HIPs, with many packs commissioned within the first month of the launch.
Being green not the preserve of rich and famous
Going green and installing energy efficient renewable technologies – like solar panels – should no longer be the preserve of the middle class, or for politicians to point score, the UK’s largest housing and regeneration group said today.