FTBs are risking their health to own a home

“It is concerning how negatively the house buying process is impacting health, personal relationships and careers.” According to new research, careers, relationships and even health are being pushed further down the list of priorities for first-time buyers who are desperate to reach the first rung of the housing ladder. Almost half (47%) admitted that they have had to rebuild their lives due to the compromises made to buy a home. The new data from Aldermore shows that 52% of respondents were made…

Selective Licensing is unlikely to improve PRS housing standards

“Good landlords, with good houses will naturally apply for the license and pay the fee. Rogue landlords, with bad houses, won’t” Nottingham city council’s new Selective Licensing Scheme which will see all non-HMO properties across most of the city, aims to ‘raise the standards in the private rented sector, ensuring all tenants are able to enjoy safe, comfortable, and well managed homes.’ Despite it claims, we believe the scheme will do little to improve the standard of rental accommodation and only result in…

Are rental reforms risking the future of Edinburgh Festivals?

” If this sets a trend, and artists struggle to find short-term accommodation, the 2018 Edinburgh Festival could be the last to offer such a variety of talent” The Scottish Government’s private rental reforms are shaking up the sector according to new data, which reveals rental property sales have outstripped purchases five-fold in the last three months. Findings from the National Landlords Association (NLA) show that almost a quarter (24 per cent) of landlords with property in Scotland have sold over the last…

New build quality concerns for a quarter of Brits

“Poor build quality is an increasing issue in the UK housing market” A recent survey by BLP Insurance has found that 24% of people consider a lack of build quality is a major disadvantage of buying a new build home over an older property. People living in the north of England (29%) were more likely to view a lack of quality of construction as a major disadvantage of new build homes compared to those people living in London and the south east (21%).…

Overvaluing properties is damaging the industry

“Property sellers whose homes are overvalued could end up selling for significantly less than if the property was marketed at the right asking price from the beginning” According to new analysis, due to challenging market conditions, estate agents are increasingly overvaluing properties to gain listings. But continuing to do this could have financial implications for consumers and a negative effect on the public’s perception of estate agents. Tricky market conditions – which could be responsible for some agents overvaluing properties to secure much-needed…

Brits remain positive about property despite Brexit

“The British public appear to be feeling really quite positive about the impact of Brexit on the UK property market. I hope the public are right” The latest research from quickmovenow.com has suggested that, despite the threat of a ‘no-deal’ Brexit, the majority of the British public remain upbeat about the future of the UK property market. According to the figures, only 23% of the public said they felt Brexit would have a negative impact on property prices, with the remaining respondents saying…

UK Finance: FTB completions down 3.6% in June

“These latest figures show that the housing market is struggling, especially amongst homemovers where activity is down 7.9%” The latest data released from UK Finance has shown that completions for first-time buyers were down 3.6% in June this year when compared to 2017. According to UK Finance, speculation over a rise in interest rates caused a drop in homemover activity with 33,700 new homemover mortgages completed in the month – an annual fall of 7.9%. The data revealed that remortgaging continued to…

Rents pick up in July

“The dwindling lack of rental properties available to meet the overwhelming demand is pushing rents higher and higher” The latest data from HomeLet has revealed that the average monthly rent in the UK now stands at £937 a month after a 1.3% rise during July. HomeLet found that in the capital, average rents increased by 3.3% during July this year compared to July 2017; the average monthly rent in the capital now stands at £1,615 a month. Rents rose in 8 of the…

Average house price falls for fifth consecutive month

According to the latest figures from LSL Property Services, average house prices fell once again during July for the fifth month in succession. Prices were down 0.2%, leaving the average house price at £302,251. However, LSL reports that the figure is still up on an annual basis, with prices increasing 1.6% and all regions in England and Wales recording modest, but positive growth. Flat prices are largely down to slower activity. In July, there was an estimated 75,000 transactions: 2% down on June…

Overseas landlord numbers fall to record low

The latest data and analysis from Hamptons International has revealed that, during the first half of this year, the proportion of international based landlords in Great Britain fell to 6%, a record low. Hamptons data shows that the proportion of rental homes let by a landlord based overseas has halved since H1 2010 when their records began. In H1 2010 13% of homes let in Great Britain were owned by an overseas landlord, more than double the proportion in H1 2018 (6%). Over…