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May 29th, 2014
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Funding for property refurbishment projects in the UK has more than doubled in the last 12 months, according to a survey of financial intermediaries.

According to the latest West One Broker Sentiment Survey, short term secured loans for property refurbishment, development and conversion totalled £1.29 billion over the 12 months to April, a rise from just £639 million over the previous 12 months to April 2013.

The money accounts for approximately 2,800 separate projects being undertaken across the UK.

Read more…

December 24th, 2013
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Asking rents in the North East and Wales outperformed the rest of the country in November by 10.35% (£65) and 7.43% (£45) respectively when compared to the previous month.

The surprising statistic comes from Move with Us’ rental index for November 2013.

The index found that November saw advertised rents across the country increase by an average of just over £10, equivalent to a 1.08% increase.

When viewed against the same period in 2012, the picture is equally as positive when rents up by £15 (1.58%).

At the end of the month, the average cost of renting a property in the country was £985 per month.

In the capital, asking rents mirrored those of the national picture as November saw increases of £21 per month from October 2013 and £37 per month when compared to November 2012.

Significantly, November was the first month this year where average rents out-performed those reported 12 months previously.

Move with Us says that rather than indication of significant growth in London rents, this is more likely to be a reflection of the fact that the market has reached more of an equilibrium following the peak of the Olympic summer of 2012.

The sustained growth witnessed in the South East and in East Anglia during the first six months of the year has stabilised over the last quarter and continues to fluctuate marginally.

Both regions are in excess of 3% up on the average rents of November 2012 meaning that despite the minimal decline as the year draws to a close, 2013 has seen these regions prosper in the wake of a slightly weakened market in London.

 

Author: Categories: Economic Situation, House Price Rise Tags:
November 19th, 2013
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Every home in England would fit on the same small amount of land we devote to full-sized golf courses, according to a shocking analysis of the UK’s housing shortage.

On estimates from Colin Wilkes of Inside Housing and the housing charity Shelter, roughly 1.1% of the country is used on full-size golf courses – the same area the government says is taken up by domestic buildings.

Smaller courses mean the full golf footprint is more than twice as a large. The finding comes as further figures show house prices driven upward by inadequate supply.

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November 14th, 2013
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The government’s Help to Buy scheme has led to £365 million of new mortgage lending, with more than 2,000 people putting in offers for homes.

The Department of Communities and Local Government (DCLG) said that RBS and Lloyds, the first two participating banks, have already completed 2,384 applications for their 95% mortgages.

On average households have asked to borrow around £155,000 for houses worth around £163,000 – below the UK average price of £247,000. The figures indicate that the government is supporting responsible lending, according to DCLG. Read more…

October 15th, 2013
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A lack of available properties and ‘burgeoning’ among buyers has forced house prices up in Scotland, according to a monthly survey.

The Royal Institute of Charted Surveyors (RICs) found house prices increased in September.

Last month, 32% more respondents reported price rises rather than falls in the RICs survey. Read more…

October 10th, 2013
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The Government’s Help to Buy scheme could help up to 665,000 homebuyers be able to buy a property with a deposit of less than £10,000.

At present, a 5% deposit in Yorkshire & Humber would be the cheapest anywhere in England at £8,129 based on the regions current average asking price of £162,588, according to property website Zoopla. Read more…

September 5th, 2013
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Renting alone is no longer an affordable option for many people – according to new research from Spareroom.co.uk.

A recent survey of the site’s users found that more than (51%) of those previously renting alone or with a partner had returned to flat and house shares due to high living costs. The average cost to rent a one-bedroom flat (including bills) across the UK is £12,669 per year. Read more…