Buyer interest remains low ahead of Christmas wind down

The latest analysis of the UK property market by RICS has shown that during September, buyer demand continued to weaken and yearly sales expectations turned negative. According to the data released, affordability constraints, dwindling stock supplies, interest rate rises and the usual economic and political uncertainty that we have come to expect each month were all cited by respondents to be holding back activity. And as you would expect, forward looking indicators have now turned a little more pessimistic with regards to the…

Allsop release October catalogue | Property Reporter

Allsop’s residential auction on the 25th October will see more than 280 lots auctioned at The Cumberland Hotel, London. The catalogue, which is now live, features a wide variety of opportunities across the country. The catalogue features 24 lots being offered on behalf of housing associations one of which is lot 100, a freehold two-bedroom terrace with a rear garden. Located in close proximity to Clapham Junction train station, the property has a price guide of £600,000. The highest value featured is lot…

Housing remains top priority during conference season

The recent Conservative and Labour Party conferences highlighted that the housing market remains a top priority for the nation’s politicians. This was demonstrated by several high-profile housing proposals put forward by both parties at a time when Brexit negotiations continue to dominate the political agenda. With the Budget due out later this month, it’s clear politicians still believe that voters can be swayed by key housing policies. Increased stamp duty for overseas buyers At the Conservative Party conference, which took place…

How much does it really cost to get on the property ladder?

It’s common knowledge that buying a property is expensive – and getting more so by the day. However, it’s pretty easy to underestimate just how much goes into the total cost of getting on the property ladder. Deposits, mortgage payments, and estate agent fees are obvious, but have you considered house surveys, packing materials, or even just fixing cracks? Those alone could cost you up to nearly £1500 – and along with other additional fees, can represent 45% of the total upfront cost. …

Where is the current UK top Buy-to-Let Hotspot?

The latest data released from Private Finance has shown that Nottingham (6.4%), Edinburgh (4.9%) Manchester (4.8%) and Liverpool (4.6%) all made it into the top 10 thanks to strong rental demand and yields of 6.4%, 4.9%, 4.8% and 4.6% respectively, but one location beat them all. According to the research, and with an average rental yield of 6.6% once mortgage costs are taken into account, Southend-on-Sea is the UK’s number one buy-to-let . With an annual rental income of £23,280, landlords in Southend…

Landlord exodus hitting letting agents

A Sheffield-based letting agent and prop-tech entrepreneur reports that many agents have experienced a significant drop in stock levels, as landlords continue to exit the market. Simon Tillyer, Director of SheffLets and refencing app, Vouch, has seen rental stock drop by 25% over the last quarter in his agency, as higher stamp duty, the removal of wear and tear allowance and the phasing out of mortgage interest tax relief, is driving landlords out of the market. According to the letting agent, feedback from its…