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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)
16th June 2017
Figures from the CML show home buyers borrowed £9.6bn in April, down 14% on March’s total but up 19% on April 2016. April saw 51,200 buyers taking a loan, a 16% drop on the previous month. First time buyers borrowed £4..1bn, a fall of 16% compared to March but up 8% on a year ago, while movers took £5.5bn, an 11% decline on the month before but up 28% year-on-year. Buy-to-let loans were down 17% on March but roughly the same as April 2016’s figure.
The Daily Telegraph (13/06/2017)
9th June 2017
Galliard Homes is holding a launch event at the Amerigo Vespucci restaurant on Tuesday, 13th June for its E14 Collection - a package of offers designed to tempt potential buy-to-let investors at its Harbour Wharf and Orchard Wharf developments. The package includes a 12-month service charge holiday, a free letting and management agreement if a property is bought by a buy-to-let investor, and a deal on fully furnishing the home. Harbour Wharf is made up of five residential buildings centred on the 41-storey Maine Tower, housing 297 apartments, with prices starting at £699,995. Orchard Wharf is located between Canary Wharf and the Royal Docks, comprising 338 one-, two-, and three-bedroom homes, costing from £447,000. Separately, Telford Homes is offering its own enticements to buyers at its Horizons tower, on the Isle of Dogs; penthouses start from £1.475m and include around £100,000 of furniture, with interiors designed by Sophie Paterson
The Wharf (06/06/2017) Evening Standard (04/06/2017)
9th June 2017
Despite the housing crisis being a key issue on the political agenda, the snap election is expected to have little impact on the property market, according to a new report. Nationwide's chief economist Robert Gardner, who compiled the research, says that while house prices have dropped for the third consecutive month to an average £207,699, this is most likely to be due to broader economic effects and the impact of years of double-digit house price rises. He added: "For most home buyers, elections are not foremost in their minds while buying or selling their home”. Mr Gardner was speaking before the June 8th vote, which has resulted in a hung parliament, with the Conservatives garnering a support arrangement with the DUP.
Evening Standard (05/06/2017)
9th June 2017
The number of available mortgage deals where only a 5% is required is up 14% year-on-year, to 287 in June, according to Moneyfacts, as house prices fall for the third month in a row. Separately, Intermediary Mortgage Lenders Association data shows 67% of mortgage applications made by first-time buyers were completed in the first quarter, up from 48% a year earlier, with 84% of applications resulting in an offer.
The Daily Telegraph (02/06/2017) Financial Times (02/06/2017)