Demand up in the capital according to latest data

According to the latest analysis from Emoov, at last it’s good news for London homeowners with demand across the capital has increasing by +2% since the beginning of 2018. However, demand has cooled across the London commuter zones, suffering a -7% drop. Nationwide, UK demand is up +8% so far this year now at 38%. UK Impressively, Wales enjoyed the largest change in property demand since the start of the year at +10% with 34% demand in the second quarter. Scotland followed…

A million private landlords face ‘pension black hole’

“Smaller landlords hoping for a steady income in retirement are now worrying that their properties won’t even cover their own costs.” Nearly one million private landlords face a “pension black hole” after new laws and regulations mean the income from their properties won’t sustain them in retirement, according to research from MakeUrMove. It found that 43% of the UK’s private landlords invested in a property to provide for themselves in their retirement, with many actively encouraged to do so as a safe, secure…

Half of Scots no longer believe they will buy their own home

“Attitudes towards home ownership are changing, with many people reassessing if and when they will make their first property purchase.” 48% of people in Scotland feel that they will never buy their own home, with less than a third (29%) feeling confident about their future purchasing prospects, according to research from Bank of Scotland. 31% of Scots also believe that it is normal to think that they will never own their own home. On the other hand, a significant proportion (17%) of…

Addressing the imbalance between housing supply and demand

“While it is essential that more homes are built that are priced fairly for first-time buyers, solely focusing on new-build developments is likely to result in missed targets” The news has been awash with some rather dispiriting statistics recently, which point towards some critical issues that need to be addressed within the UK’s property market. Specifically, it is clear that there are significant difficulties facing all types of property buyers, from first-timers to those looking to move up the ladder. At the end…

How can letting agents identify new revenue streams following the tenant fee ban?

“In the changing rental landscape, the most successful providers will be those who focus on retention over churn and adding value wherever possible is the surest way of achieving this.” Tenant perks platform, Vaboo, has researched the ways that letting agents can identify new revenue streams in the wake of the tenant fee ban, under which they are expected to lose up to £10m of revenue per year. Vaboo says the renting demographic is diversifying and expanding at a rapid pace and with…

The biggest house viewing faux pas revealed

“It’s no surprise buyers and sellers are making silly mistakes which could damage the interest from the buyer, or have an impact on whether the seller accepts an offer. ” Once a buyer decides to view a home, first impressions are crucial, so the house viewing needs to go as smoothly as possible. Propertymark asked its members to share the biggest house viewing faux pas they’ve seen both buyers and sellers have made. If you’re a buyer: Respect the property It’s…

Enquiries for houses with a swimming pool hit record high

Online estate agency, House Network, has reported a record number of enquiries for houses with swimming pools. The report follows on from Britain experiencing one of the longest heat waves, questioning whether the country is going to continue to follow these extreme temperatures for the longer term. House Network has reported 90% of their enquiries over the past two weeks requesting a property with outdoor space, with many customers specifically stating a swimming pool as priority. House Network reported no properties…

Majority of tenants satisfied with rented housing

“Whilst we should never be complacent, these results confound the myths that some have peddled about the private rented sector.” The majority of private sector tenants, 84%, are satisfied with their housing, according to the latest English Housing Survey report. Satisfaction rates are higher in the private rented than the social rented sector where 81% of tenants are satisfied with their housing. The report also finds that 72% of private sector tenants are satisfied with the way that their landlord carries out…

LendInvest speeds up buy-to-let ID checks

“We live in an increasingly online world, and in-person or paper-based processes are no longer fit for purpose.” LendInvest has partnered with identity verification provider Onfido to streamline its digital application process for buy-to-let products. By incorporating Onfido’s proprietary technology into its digital application system, buy-to-let applicants can now confirm their identity online, instead of the need for paper forms. Brokers can prove a client’s identity by uploading a photo of one identity document to LendInvest’s application portal (e.g. passport or driving…

Tax changes spark 9.8% drop in buy-to-let purchases

“Today’s results show that individual amateur buy-to-let is becoming less viable.” Purchases in the buy-to-let market continue to be constrained by recent regulatory and tax changes, falling by 9.8% in May compared to the same month in 2017, according to UK Finance data. By value, purchases were down by 22.2% year-on-year to £0.7bn. However buy-to-let remortgaging activity continues to rise, up 15% to 14,600. By value this was £2.3bn of lending in the month, 21.1% more year-on-year. The wider mortgage market…