While house prices may dip the market is unlikely to see a significant decline due to the pandemic, Nicky Stevenson, head of associates at Fine & Country, has predicted. However, she still expects transactions to fall by 25% between 2019 and 2020. Stevenson said: “It is possible that there could still be a short-term dip […]
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Landlord rental collection has fallen by 50% in Liverpool due to COVID-19, the biggest fall across major English cities. Cambridge is the most resilient location, with rent collection falling by just 7%, compared to a UK average of 30%. Rent collection also declined by 40% in London and Milton Keynes, The research, called the COVID-19 […]
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Real estate developer and investor Scarborough International Properties has applied for phase three of the Middlewood Locks development, with planning consent for 189 new homes in Manchester. The residential and commercial neighbourhood is at the western gateway to Manchester’s Central Business District. Middlewood Locks is a joint venture between Scarborough, Hualing Group, based in Urumqui, […]
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Kent Reliance for Intermediaries, Precise Mortgages and InterBay Commercial – the three OneSavingsBank brands – have increased loan-to-values to 75%. This applies to products such as HMOs (up to 6 beds) and MUFBs for remortgages and for limited companies. Alan Cleary, managing director, OneSavings Bank said: “Whilst it’s been an odd and unsettling time, I’ve […]
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Some 55% of property and construction workers want more home working opportunities once the lockdown is over, research from Hitachi Capital UK has found. The number one reason they like to work from home is avoiding the commute (33%), as well as being able to structure their work around their daily life (16%) and having […]
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The coronavirus pandemic has disproportionately affected first-time buyers according to Trussle research. First-time buyer applications fell by 35% year-on-year in April and submissions dropped by 53%. Overall applications for remortgages rose by 110% year-on-year during April, as homeowners looked to lock into lower rates. Miles Robinson, head of mortgages at online mortgage broker Trussle, said: […]
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The developer Prospect Homes has unveiled plans to reopen its sales office and show homes from Thursday. This will be on an appointment only basis, and limited to two people at a time from the same household. Samantha Williams, head of sales, said: “We want to reassure the public that we are doing everything we […]
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I had an interesting time exploring how difficult it is for developers to keep the public happy in these conditions last week. It seems like pressure from the government means consultations on developments are happening at the same pace as usual, which will surely cause friction between the public and both housebuilders and councils. In […]
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The average time it takes to let a rental property rose to a record 29 days in April 2020 due to the lockdown measures, the Hamptons International Lettings Index has found. This represents an increase from 24 days in April 2019, while it took just 18 days back in April 2013. Due to the pandemic […]
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Three quarters (77%) of brokers reckon mortgage lending will recover to pre COVID-19 levels within 9 months, while half (51%) believe it will happen within 6 months, research from Smart Money People has found. Appointed representatives are more optimistic than directly authorised brokers, with 59% of ARs predicting that lending levels will recover within six […]
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