Informal short-term lets market stagnates

Research by the National Landlords Association has revealed that, despite the popularity of companies such as Airbnb and HomeAway, as few as 3% of landlords are currently engaged in the informal short-term lettings market. Of those landlords who do not offer short-term lets, an overwhelming majority have not considered entering it, with only 24% of respondents reporting to have considered it at some point. Short-term lets, which range in length from one night up to around six months, have increased in popularity in…

How much could the next generation of FTBs pay to get a foot on the property ladder?

New research by London based independent letting and sales agents, Benham and Reeves, takes a look at the current struggle facing first-time buyers in the UK and explores how this could escalate for the next generation. Taking historic FTB property price data from the Land Registry, Benham and Reeves projected these monthly price changes forward 34 years to see what the average first-time buyer house price could hit for those born today. With the average FTB now 34 years of age and today’s…

The step-by-step design guide to investment refurbs

So you have decided that it’s time to renovate the property you are renting, or you’d like to update it before selling it to maximise your income. Maybe you already have a budget in mind, the scope of works, perhaps a main contractor? But what about the design? Before you start purchasing discounted marble-look ceramic tiles from your local yard sale read these top tips from Sonia Pash, co-founder of Temza Interior Design Studio (www.temza.co.uk ). Here at Temza, we run an Interiors…

FTB rates cut at Leeds

Leeds Building Society has announced that it has cut a number of rates across its high LTV and HTB mortgages. According to the lender, two and five-year 95% LTV products will be reduced by up to 0.33% from the 22nd of February. Two-year fixed rates now start from 2.74% with a £999 product fee or 3.09% fee-free, while five-year fixes are available at 3.79% with no fee. Leeds is also reducing rates on its Help to Buy range by up to 0.23%. …

Surge in agent appreciation among vendors

New data collated from a recent survey of over 3,000 respondents by Zoopla has shown that vendors are increasingly acknowledging the insights and services agents offer. According to the figures, 47% of vendors said picking the right estate agent, and therefore the correct price, was the biggest factor in achieving a sale on their last property. Respondents from across the country were asked to rank what they considered to be the most important factor in securing a sale on their previous home, with…

MCI announce Principality as latest member to its lender panel

MCI Mortgage Club has announced that it has added Principality Building Society to its growing panel of lenders. The Society has a strong presence across the intermediary mortgage market in England and Wales and offers a service led proposition to its brokers. They have a team of Business Development Managers who are committed to using their expertise and experience to help give the dedicated support, service and assistance brokers need to do business quickly and easily. Emma Graham, Principality Building Society’s National Account…

Subsidence claims are rising | Property Reporter

According to new data released by insurance expert, Consumer Intelligence, last year’s record breaking summer of prolonged dry weather and high temperatures is driving an increase in subsidence claims across the industry. The data released suggests that as a result of a rise in claims home insurance price cuts could be about to end sending bills higher. Average premiums dropped 1% to £137 in the year to January as providers kept prices low to compete for business, but the last six months have…

Property transactions remain flat according to latest from HMRC

The latest data and analysis on the UK housing market from HMRC has revealed that residential property transactions increased by 0.8% (seasonally adjusted) between December 2018 and January 2019 – a 1.3% rise against January 2018. Year-on-year, non-adjusted residential transactions in January 2019 were approximately 0.9% higher than January 2018. The provisional seasonally adjusted UK property transaction count for January 2019 was 101,170 residential and 10,650 non-residential transactions. Jeremy Leaf, north London estate agent and a former RICS residential chairman, says: “Transactions are…

BTL confidence remains high despite challenging market

The latest data and analysis from online agency, yieldit, has revealed that sales agreed and new listings both saw significant numbers during January, boosting investor confidence and showing little proof of a market slowdown. According to the data, there were 191% more sales agreed during the first month of the year compared to June 2018. New listings followed a similar trend, with a 146% increase on June 2018. This indicates that despite some Brexit uncertainty the UK buy-to-let market is busy, with levels of…

45,000 homes could be created by developing UK high streets says new report

Surrey & Berkshire land agents, Aston Mead, is throwing its weight behind a new report which suggests that thousands of new homes could be delivered across the UK by developing vacant space in high streets. The report, ‘Making Sense of Mixed-Use Town Centres’ produced by planning and development consultancy Turley, says that there is currently around 8 million square metres of unused floorspace across the UK’s urban centres, and that even if only a third of it was apportioned to residential development, some 45,000…