020 7538 0102
23rd June 2017
House price momentum has stalled as the average price tag on a property coming to market has dipped by more than £1,000 month-on-month. Across England and Wales, the average asking price was £316,109 in June, a 0.4% or £1,172 fall compared with May, and the first fall seen in the month of June since 2009 - at the height of the credit crunch. The annual rate of asking prices also slowed, to 1.8%. Asking prices in London and the South East were down month-on-month by 2.4% and 0.9% respectively. By contrast, asking prices were up by 1.7% in Yorkshire and the Humber, by 1.3% in the North West and the East Midlands, and by 0.8% in Wales.
The Times (18/06/2017)
23rd June 2017
New research by Lloyds Bank has found that the number of home sales in England and Wales fell by 7% in 2016 to 848,857, dropping most heavily in London and the south-east, by 18% and 10% respectively. Brent in London and Berkhamsted in Hertfordshire saw falls of 30%, topping the list. Places from Westminster to Hull have seen 55%-plus falls in sales over the past decade, while every local authority in England and Wales had lower sales in 2016 than in 2006.
City AM (20/06/2017)
23rd June 2017
Some 51% of those who had bought their first property in the past five years regretted not trying to negotiate with the seller for a better deal, Barclays Mortgages has found. More than one in five even paid thousands extra to get their foot on the property ladder - adding £7,758 to the asking price on average. Barclays suggested a fast-moving market in some areas may be putting buyers off trying to negotiate, with 85% of those surveyed describing the current property market as "extremely competitive".
Daily Mirror (20/06/2017)
16th June 2017
Ballymore has unveiled its Goodluck Hope project on the Leamouth Peninsula, just south of its London City Island development. The riverside scheme will bring a further 804 homes to the area, the first of which are due to be completed towards the end of 2019. Designed by Allies and Morrison as a “modern interpretation of warehouse living”, the suites, one-, two- and three-bedroom apartments feature floor-to-ceiling windows, open-plan rooms, kitchen and dining areas with bespoke stone islands and dining tables. Buyers will have access to The 1595 Club, with amenities such as a 24-hour concierge service, gym, swimming pool, and steam room, along with membership of the City Island Arts Club. Prices start at £335,000.
The Wharf (13/06/2017)
16th June 2017
Former Rics chairman Jeremy Leaf has commented on what the election result means for the property sector, highlighting the influence of young voters who he says voted “overwhelmingly for change.” “Politicians will have to consider the needs of the young more than they have in the past which could mean more help for first-time buyers, perhaps extending Help to Buy so that it covers older properties as well as new build, dealing with affordability issues and more help on stamp duty”, he offered. Mr Leaf added that the UK’s political parties all agree that more housing is needed so this must be a priority for any formal or informal coalition.
The Independent (09/06/2017) The Times (09/06/2017)
16th June 2017
The typical home in the UK cost £220,100 in April, a rise of £3,500 on the previous month and a £12,000 increase from the same month a year ago, according to the ONS. Average house prices in the UK increased by 5.6% in the year to April, accelerating from 4.5% in the year to March. Across the nations, Scotland saw the biggest climb, with values up 6.8% over the year to an average of £146,000. In England, prices are up 5.7% to £237,000, Northern Ireland by 4.3% to £124,000 and Wales by 4.2% to £148,000. The best performing region was the east of England, where prices rose 8.1% on the year, with the south west and east Midlands also performing well with growth of 6.8% and 6.5%, respectively. London saw prices up 4.7% in the 12 months to April.
The Independent (13/06/2017)