More than a million homes were not built after planning permissions were granted in the past decade. Some 564,600 units have been granted planning permission by councils since 2009/10 but only 1,530,680 units were completed in the same period. The data comes from the Local Government Association, the national membership body for local authorities. David […]
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Research by prop-tech lettings company Home Made has revealed that London landlords lost £730m in rental revenue in 2019 due to avoidable void periods. Rental properties across the capital are empty for an average of 24 days. One of the key reasons properties lay empty is down to the lag time between a tenant handing […]
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A new study by intelligent home climate management company tado° has found that UK homes lose heat significantly faster than European neighbours, even when factoring in outside temperature. The study, conducted between Dec 2019 and Jan 2020 in 80,000 homes, found that a UK home with an indoor temperature of 20°C and an outside temperature […]
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Retired homeowners saw their property wealth increase by more than £3,150 in the past year, analysis from UK’s leading independent equity release adviser Key shows. Total property wealth owned by over-65s who have paid off mortgages is valued at £1.133tn and has increased by £14.78bn in the past year, Key’s Pensioner Property Equity Index reveals. […]
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The average UK house price rose by 2.2% to £235,000 in the year to December 2019, according to data collected by ONS. Average house prices in England increased by 2.2% to £252,000. Wales and Scotland both also recorded a 2.2% rise year-on-year, with average house prices increasing to £166,000 and £152,000 respectively. Meanwhile, Northern Ireland […]
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The average loan size for high loan-to-income (LTI) mortgages increased by between 4 and 7% following the implementation of the LTI flow limit according to a new paper by Adiya Belgibayeva at the FCA. In July 2014, the Financial Policy Committee (FPC) recommended that the FCA and PRA “ensure that mortgage lenders do not extend […]
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The Residential Landlords Association (RLA) is calling for the Chancellor to use his first Budget to stop the decline in the supply of rental housing. The firm cited the 3% stamp duty levy on extra housing added in 2016 as slowing down investment in new rented property, combined with landlord confidence being “extremely low”. Additionally […]
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A reader wrote in last week to tell me that Halifax’s claim that annual house price growth reached 4.1% in January doesn’t tally with what he’s seen. He told me that properties around Watford and Bournemouth have actually fallen in value by 15% year-on-year, which he said was based on contact with friends and family […]
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The property industry has appealed for stability after yet another housing minister was appointed last week. Esther McVey held the role of housing minister for just seven months before being replaced by Christopher Pincher (pictured), the 10th housing minister since 2010. The role of housing minister isn’t a cabinet one, meaning ministers tend to use […]
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Landwood Property Auctions sold £16.5m worth of property via its auction service in 2019, which it said marks a massive rise in activity. The company said switching to weekly online auctions was a key factor. The Manchester-based firm saw three times as many lots listed on its site compared to the entire 12-month period preceding […]
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