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29th July 2016
Halifax data shows that the number of first-time homebuyers rose 10% in the first six months of the year compared with the same period last year. The lender said an estimated 154,200 people entered the housing market in the first half, compared with 140,500 during the same period of 2015. The average first-time buyer home now costs £199,414 - a 12% increase compared with a year ago. Halifax figures also show that the deposit needed for a first-time buyer has increased by 14% in just over a year to £33,960.
The Times (23/07/2016)
29th July 2016
The Brexit effect on the housing market may take months to become clear, the Nationwide has said, as it reported a slight rise in UK house prices in July, the first property data since the EU referendum. Property prices rose by 0.5% in July compared with June, and were up 5.2% on a year earlier, meaning the average UK home was valued at £205,715, the Nationwide said. "Any impact from the vote may not be fully evident in July's figures, as there is a short lag between a buyer making the decision to purchase a property and applying for a mortgage. How the labour market evolves will be crucial in determining the demand for homes in the quarters ahead," said Robert Gardner, Nationwide's chief economist.
The Times (29/07/2016)
22nd July 2016
Galliard Homes has released the final phase of homes for sale at the 41-storey Maine Tower, at Harbour Central on the Isle of Dogs. The latest batch includes one-bedroom apartments with two- and three- bed units also available, together with penthouses, with prices starting at £699,000. The homes range in size from 558sq ft to 1,215sq ft, and feature walnut hardwood floors, fully integrated kitchen units, and custom joinery in the living areas. Residents will also benefit from a residents’ club that includes a library, gym, spa and cinema. Not far away, Telford Homes has put six two-bedroom penthouses at its 26-storey Horizons development in Yabsley Street on the market, with prices beginning at £995,000.
The Wharf (17/07/2016) The Wharf (16/07/2016)
22nd July 2016
Post-Brexit London property prices could fall by more than 30%, even halving in the most expensive parts of the city, according to analysts at Société Générale. Brexit could be the trigger to end London’s seven-year house-price boom as companies move employees out of the UK, forcing sales of high-end properties, the firm's real estate analyst Marc Mozzi said, citing a pre-referendum report by PwC that said Brexit could result in between 70,000 and 100,000 fewer people employed in the financial sector.
The Guardian (19/07/2016)
22nd July 2016
The proportion of house purchase loans given to first-time buyers hit 53% in April, and was 51% in May. According to Council of Mortgage Lenders figures, it was the first time the figure had overtaken the 50% mark since 1996. The launch of Help to Buy, the state-backed scheme allowing borrowers to buy a home with just a 5% deposit, has caused a surge in new deals. When the scheme was launched, there were 42 products; now there are 227.
Daily Mail (21/07/2016)
22nd July 2016
A luxury property in London’s Admiralty Arch is on the market with a record price tag of up to £150m. If the 15,000 sq ft home in the historic Grade I listed landmark sold for £150m it would surpass London’s most expensive flat, a penthouse at One Hyde Park that sold for £140m in 2014.
The Daily Telegraph (20/07/2016)