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8th January 2016
The London borough of Newham enjoyed the biggest rise in house prices across the UK in 2015, according to the Halifax. The average house price there rose 22.2% over the year compared with 2014. Homes in Newham are now worth an average £319,522 against £261,399 previously. Wales fared far worse, with Merthyr Tydfil and Colwyn Bay topping the list of worst performing areas for 2015. A surprise inclusion in the worst performers was Kensington and Chelsea, the borough that includes the UK's most expensive and exclusive areas. Prices there rose just 1% to an average £807,407.
The Daily Telegraph (28/12/2015)
8th January 2016
Nobel Prize –winning economist Robert Shiller fears that advanced economies could be on the cusp of another stock market and property bubble. He suggests London should follow New York City in building high rise buildings at the expense of tearing down a “relatively small amount of historic London” in order to solve the housing problem.
Daily Mail (31/12/2015)
18th December 2015
New data shows that asking prices in England and Wales have ended the year nearly £20,000 higher than they were at the start of 2015, with an imbalance between housing supply and demand potentially pushing average values up a further £17,000 within a year. If this were to occur, averages would climb above £300,000. The figures show an average asking price of £289,452, up £19,975 on the typical asking price of £269,477 in December 2014. The rate represents a £55 a day increase in value, or £1,700 a month. Asking prices in London are typically £55,458 or 9.9% higher than a year ago at around £616,548.
The Daily Telegraph (14/12/2015)
18th December 2015
Buying a property is cheaper than renting, according to Santander, with those stepping onto the property ladder typically saving £2,300 a year compared to those who rent. Miguel Sard, managing director of mortgages at Santander UK, said: "People assume that buying a property will put them under greater financial pressure, but often the reverse is true. With annual savings averaging well over £2,000, this can really mount up over time and of course once the mortgage is paid off you have a valuable asset to show for it". The figure the lender used is based on the average rent being £995 per household compared to monthly mortgage payments of £805 for an average first-time buyer household.
Daily Mail (15/12/201
18th December 2015
The number of 95% LTV mortgage products rose to 260 last month, compared with 141 in the same month last year, according to the latest Mortgage LTV Tracker from Genworth, the mortgage insurer, and Moneyfacts, the price comparison website. There are now more than six times as many 95% LTV loans available compared with September 2013. Competition in other areas of the market has stayed relatively stable or, in some cases, even declined.
The Times (17/12/2015)
18th December 2015
The Evening Standard looks at Rightmove's House Price Index, highlighting the London boroughs which have seen the biggest average property price increases in 2015. Merton has seen values climb 30% to an average of £670,771, while average values in Newham have reached £396,012, a rise of 25%. Camden, Redbridge and Hammersmith and Fulham make up the rest of the top five boroughs for value growth.
Evening Standard (14/12/2015)