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11th December 2015
House prices rose by 1.4% in the past three months and by 9% at an annual rate, despite a 0.2% fall in November, according to Halifax. Martin Ellis, Halifax housing economist, said: “Solid economic growth, rising real earnings and falls in already very low mortgage rates have combined to stimulate housing demand this year,” adding: “The increasingly acute imbalance between supply and demand is causing prices to rise at a robust pace. A situation that is unlikely to reverse significantly in the short term”.
Financial Times (08/12/2015)
4th December 2015
House prices in London’s suburbs have now pushed the average cost of a home in the capital through the £500,000 barrier. Many outer boroughs have seen double digit growth as first time buyers and investors seek cheaper properties outside central London. The biggest year on year rise is noted to have been 13.1% in Hillingdon, where the average price stood at £361,595 in October according to Land Registry figures.. The west London borough was followed by Enfield on 12.8% and Bexley on 12.7% growth.
Evening Standard (28/11/2015)
4th December 2015
Anna White in the Telegraph says the Government's increase in stamp duty has cooled the capital’s luxury property boom, with the number of sales in the £1m to £5m price bracket falling this year. Ms White says a report from Lloyds Bank shows that the sale of homes valued at more than £1m are down 11% in the first half of 2015. LonRes figures show that the number of London homes sold for between £1m and £2m fell 22.5% from July to September compared with the same period in 2014 while sales worth more than £5m were down 29% between January and October 2015. She says overseas investors and second-home buyers have shifted their focus to New York and the south of France.
4th December 2015
A three-bedroom apartment in Mayfair, which has been described as London's most spacious apartment, has gone on the market for £16m. With 3,500sq ft of space, the development at 26 Albemarle Street is being billed as the largest new flat in the West End. Selling agents are Knight Frank, Savills and Wetherell.
Daily Mail (01/12/2015
4th December 2015
New research suggests that luxury homes in London are valued at twice the price of their equivalent in Manhattan. The study, which comes from a new Transatlantic Wealth Report by Beauchamp Estates and New York-based Leslie J Garfield, says there has been a 7% increase in London based high-net worth investors seeking to buy prime residential property in New York.
The Independent (02/12/2015)
4th December 2015
First-time homebuyers in London will be able to take out a mortgage for little more than half the cost of a property after the government unveiled plans to offer interest-free loans worth up to 40% of the price.
The Guardian (28/11/2015)