Right to Buy Scheme: expanding in England, shut down in Scotland…

By Tom Hague published on 09/08/2016  

Wales is set to join Scotland in scrapping the right for council tenants to buy their homes. In the 37 years since the scheme launched in 1979, two million homes have been sold to their tenants – many of whom have sold them on at a substantial profit, or let them.
Now, as the Conservative government expands the scheme in England, the devolved administrations of Scotland and Wales are halting t

London Mayor’s Housing policy

By Tom Hague published on 26/05/2016  

Sadiq Khan, the new London Mayor, says that his biggest priority is to build thousands more homes every year. “Our capital needs more than 50,000 new homes a year – yet Boris Johnson built barely half that number.” He also vows to create a living rent and improve the private rented sector in the Capital. This sounds good, most property professionals would agree… but is it possible?
Miles Gibso

Housing market activity bouyant in January

By Tom Hague published on 17/02/2016  

The New Year has proved to be a catalyst for house-hunters looking to buy or rent property, new data suggests.

 

Moneypenny reports that there was a significant rise in the volume of calls to estate and letting agents to request property viewings in January.

 

The telephone answering specialist reported that there was a 70.8 per cent increase in the vo

UK House Prices Set To Rise in 2016

By Tom Hague published on 26/01/2016  

With record-low interest rates for at least another few months and housing supply set to remain low, the general consensus among households across the UK is that property prices will increase in 2016, albeit at a slower rate than in 2015.

The latest data from the House Price Sentiment Index (HSPI) from Knight Frank and Markit Economics found that house price growth this year is expected

UK property sales hit 16-month high

By Tom Hague published on 21/10/2015  

Residential property sales have improved across the UK, reaching a 16-month high in September, the latest index report from RICS has revealed.
It was the fifth month in a row that agreed sales rose, with the greatest increases over the month witnessed in the North, East Anglia and Scotland.
According to RICS, this was the sixth consecutive month that the number of new buyer enquiries has i

First-time buyers activity hits pre recession high

By Tom Hague published on 02/09/2015  

There was a sharp increase in the volume of first-time buyers in the UK in July, as the prospect of a rise in mortgage borrowing costs encouraged more young purchasers to acquire their first home.

The latest First Time Buyer Tracker index from Your Move and Reeds Rains reveals that the number of first-time buyers reached their highest level in July since the recession, paying £161,985, on

Housing Demand Soared to 11 year high

By Tom Hague published on 04/08/2015  

The UK housing market continues to be propped up by growing demand from buyers, which the National Association of Estate Agents (NAEA) says is now an 11-year high, fuelled by greater political stability, a strengthening domestic economy, record-low mortgage borrowing rates, rising employment levels and Government housing schemes such as Help to Buy.

The NAEA’s latest monthly report found

Property Demand Continues to Soar

By Tom Hague published on 03/07/2015  

With uncertainty regarding the outcome of the general election over, demand to buy and rent property rose sharply in May, according to the National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents (ARLA), but property supply is not keeping pace.
The NAEA report that demand from buyers hit an eight-month high last month, with 383 house hunters registered on

Labour Proposes Housing Bond to Develop 125,000 new homes

By Tom Hague published on 08/04/2015  

Labour plans to introduce a housing bond system to generate up to £5 billion to fund the construction of up to 125,000 new homes if elected at next month’s General Election, the party has said.

Using the Help To Buy ISA, which was announced for first-time buyers by the Chancellor, George Osborne,as part of his Budget last month, the new bond scheme would enable house builders to develop s

Housing Industry welcomes chancellor's boost for homebuyers

By Tom Hague published on 25/03/2015  

First-time property purchasers saving for a deposit will be given a 25 per cent financial top up from the Government, George Osborne (right)  announced in last week’s Budget statement, much to the delight of many property professionals.

Many industry experts are pleased that the Chancellor has recognised the need to provide yet more support for homebuyers by announcing the launch of

Stamp Duty Land Tax - The Facts

By Tom Hague published on 04/12/2014  

The details of the Stamp Duty Land Tax Reform announced as part of the Chancellor's Autumn Statement are available on the NAEA website. With almost immediate effect, the structure, rates and thresholds have been changed to deliver a more efficient and fairer system. Transitional rules apply where contracts are exchanged before 4 December but the transaction completes on or after that date. In that

Number of house hunters at a 10 year high

By Tom Hague published on 07/11/2014  

The number of people actively looking to buy property in September reached the highest level since 2004, the latest Housing Market Report from the National Association of Estate Agents (NAEA) shows. The NAEA report for September found that member agents reported an average of 406 house hunters at each branch – the highest number recorded since October 2004, when an average of 511 buyers were repor

House price growth expectations hits 13 month low

By Tom Hague published on 24/09/2014  

The House Price Sentiment Index (HPSI) from Knight Frank and Markit Economics, which surveyed 1,500 households, found that 26.7 per cent of respondents felt that the value of their home had appreciated over the past month, while 5.5 per cent reported a decline. This gave the HPSI a reading of 60.6, the 18thconsecutive month that the reading has been above 50. Nevertheless, the reading was down on

Mortgage lending for house purchase at highest since 2008

By Tom Hague published on 21/08/2014  

There were £19.1bn worth of home purchase mortgages in July – the highest monthly figure since the property market collapsed in August 2008. According to the Council of Mortgage Lenders, lending to home buyers was 7% higher in July than in June, and up 15% on July last year. In August 2008, lending for house purchase was £19.3bn. The CML said it concludes that a “robust market” is emerging after t

PWC warn house prices set to rise sharply

By Tom Hague published on 15/07/2014  

Recent property price rises may be starting to moderate, but the UK housing market still offers plenty more room for longer-term growth as far as prices are concerned, according to big four accounting firm PwC. A study by PwC said UK house prices are likely to appreciate by an average of 35 per cent in the next six years as demand from buyers continue to outstrip the supply of housing coming onto
House prices have risen by 31.5% in London since the last General Election, but by just 0.16% across the rest of England and Wales. Since May 2010, average house prices in the capital have risen by £103,323 on average from £331,711 in 2010 to £435,034 this year. This means that someone who purchased a property in London four years ago has had the equivalent of a second income of £25,830. However,

Get moving with Help to Buy

By Tom Hague published on 11/04/2014  

Help to Buy is a government scheme that means you could move home with a deposit as low as 5%. Whether you're taking your first step onto the property ladder or moving up a rung, Rightmove have put together everything you need to know about the two options available: Mortgage Guarantee and Equity Loan. https://www.youtube.com/watch?v=5TrFm-mySCQ

General Election

By Tom Hague

With the General Election in sight, its only right to look at the plans for housing. This has been a major topic discussed at length, with all main parties announcing various pledges in their manifestos. But other than the battle to become the next resident at number 10, what does this all mean for us?
Land and property experts are saying that it’s not right to buy or help for first time buyer
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