First Time Buyer property values up £25k in a single year
Research by Stipendium, has revealed over the last year, the average price paid by the nation’s first-time buyers (FTB) has increased at the same level as those already on the property ladder, with the cost of a first home also sitting at 70% of the average price paid by those climbing the second rung and […]
Property market cooling since the start of the pandemic
Research by specialist property lending experts, Octane Capital, suggests that despite the well documented pandemic property market boom, housing market activity has actually been on the slide since the first quarter of 2020, at least where mortgage fuelled transactions are concerned. Last week, the Nationwide HPI revealed that house prices have hit a new all-time high […]
Conveyancers urged to work with agents on up front information
Conveyancers have been urged to work with estate agents on providing the material information disclosures required by the National Trading Standards Estate and Letting Agency Team (NTSELAT) as part of efforts to make more information available up front for home movers. Addressing delegates at the Bold Legal Conference Head of NTSELAT James Munro said that […]
Bold founder launches “National Conveyancing Week”
A “National Conveyancing Week” would aim to educate the property industry and wider general public about the role of conveyancers in the home moving transaction and serve to restore some pride in a profession constantly battered by bad press and increasing scrutiny. At his Bold Legal Conference in London Rob Hailstone, who founded the conveyancing […]
Competitions watchdog investigate Dye & Durham again
The Australian competitions watchdog, the Australian Competition and Consumer Commission (ACCC) have launched an investigation in to Dye & Durham’s acquisition of Link Administration Holdings, a 43% owner of e-conveyancing platform PEXA. In January 2022, Dye & Durham announced it had agreed to acquire Link for an estimated c$3.2bn. In a statement released on the […]
Equity release expected to reach £5.6bn this year
Market analysis by mortgage broker, Henry Dannell, has revealed that UK homeowners have already released equity to the tune of £1.4bn so far in 2022, with this figure estimated to hit almost £5.6bn by the end of the year. The figures show that during the first three months of this year, over 12,500 homeowners opted […]
Johnson confirms return of Right to Buy
Boris Johnson has confirmed plans to extend the right to buy scheme to tenants of housing association homes. In an address yesterday Johnson said there are 2.5 million households whose homes belong to associations, and commented “they’re trapped, they can’t buy, they don’t have the security of ownership, they can’t treat their home as their […]
Halifax HPI: prices slowing but mortgages down
Halifax has released its house price index for May. The latest index shows that average house prices rose 10.5% in the year to May – the slowest pace of growth for this index since January, but with average house prices now reaching a new record of £289,099. In London it’s £541,942. The latest data shows […]
RICS: house prices set to rise despite drop in demand
Demand from prospective house buyers fell in May 2022, a potential side effect of the rising cost of living and higher interest rates, although house prices in the short term are expected to rise – this according to the latest UK Residential Market Survey (May), from the Royal Institution of Chartered Surveyors (RICS). Respondents reported […]
Then and now: the property market through the decades
As Her Majesty The Queen celebrates her unprecedented 70 years on the throne with her Platinum Jubilee, we take a look back at how much the UK Housing Market has changed from when her reign began in 1952 to the present day. 70 Years Ago In the 1950’s, according to Nationwide House Price Index, the […]
The Platinum Jubilee road names that command as much as £2m for a property
Inspired by the Queen’s Platinum Jubilee celebrations, property platform, Boomin, has revealed house prices on the nation’s Jubilee-themed road names. Boomin analysed price paid data records from the Land Registry for homes sold across England and Wales over the last 12 months, looking at the average sold price across some of our most royal road […]
Rightmove HPI: prices now £55,000 higher than pre-pandemic
The average price of property coming to market has hit a new record for the fourth consecutive month, rising to £367,501. This month’s increase of 2.1% (+£7,400) is the highest at this time of year since May 2014, and marks a national jump of £55,551 in asking prices in the two years since the housing […]
UK HPI: prices pause in March
Latest ONS figures show that the average house price remained at a record high of £278,000 in March, up £24,000 in a year. Average house prices were up 9.8% in the year, down from 11.3% in February, and show a reduction since peaking at 13.3% in June last year. Detached house prices were up 13.7%, […]
Equity release boosts UK economy by £3.8bn
Older homeowners accessing the value held in their homes via lifetime mortgages and other forms of equity release are directly adding nearly £1.8 billion in GVA across the UK economy, according to a new report from Legal & General and the Centre for Economics and Business Research (CEBR). Spending funded by equity release is further […]
RICS Residential Market Survey: prices remain firm but sales outlook weakens
The April RICS Residential Market Survey shows that would-be buyers are still on the hunt for a new home, whilst stock levels and new listings remain scarce. This means that house prices continue to be pushed higher across all parts of the UK. This month +10% of respondents reported a rise in new buyers’ enquiries, […]
Mortgage searches decreasing and approvals down by 0.4%
The latest mortgage approval statistics from the Bank of England (BoE) have been published. In its most recent release the figures show that mortgage approval levels dipped by -0.4% between March and February of this year. Figures were also -14.5% lower when compared to the same time last year. Experts from around the industry have […]
Halifax HPI: average prices increase by £47,500 in two years
April’s Halifax House Price Index (HPI) reveals average prices are up 10.8% in a year, to a record high of £286,079. The latest Halifax HPI report shows that house prices increased by 1.1% in April, and is the tenth consecutive monthly rise, the longest run since 2016. Prices have now increased by £47,568 in two […]
Nationwide HPI: growth slows to 12%
The Nationwide House Price Index for April has been released, revealing a slight slow at 12.1%. Despite the slowing growth rate however, Nationwide’s latest House Price Index shows that the market is now enjoying its 11th consecutive month in double figures. In April the average price hit £267,620, up £28,789 since last April, and the […]
Rightmove HPI: homes selling faster than ever in spring market frenzy
The latest Rightmove HPI data shows that despite growing economic headwinds, the 2022 market continues to set new milestones for price and activity levels. The price of property coming to market has hit a new record high for the third consecutive month. Month-on-month prices have risen by an average of 1.6% (+£5,537), and over the […]
Transaction data shows 20% monthly increase
March HMRC monthly transaction data shows that while the number of residential transactions are down on the previous year, month-to-date levels continue to increase by almost 20% as we move further into the Spring. Today’s HMRC data showed that the cost of living crisis is yet to impact figures as provisional non-seasonally adjusted property sales were 110,990 […]
