Property portal Residential People has accused Rightmove of charging agents too much. The company said Rightmove, which is the market leader, charges crippling fees that put a significant squeeze on independent agents. Rightmove angered agents in November by hiking fees, as costs for single-branch agencies vary from £1,936+VAT down to 990+VAT. Christopher May, director of […]
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The conveyancing industry suffered a very sluggish final quarter of the 2019, as quarterly transactions dropped to the lowest level since the second quarter of 2017. There were 226,44 transactions in Q4 2019, 8% fewer year-on-year, amidst the political uncertainty that gripped the nation. The top 200 conveyancing firms recorded a 13% drop in activity. […]
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Southampton is the pet-friendliest city in the UK for renters, according to research from broker Towergate Insurance. This is based on the number of pet-friendly rentals, including rentals with a private garden; those listed as ‘pets allowed’; affordable rent prices; and a lack of neighbour complaints about pets. Other friendly cities ranked in order are […]
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Legal & General Mortgage Club closed on a record year in 2019, with completions totalling £78bn. This is the highest number in the club’s 25-year history, and is a 7% rise from 2018. The completions figure includes product transfers, however L&G said underlying growth still topped 4%. Kevin Roberts, director of Legal & General Mortgage […]
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Mortgage approvals dipped in January compared to a strong December, e.surv’s Mortgage Monitor has found. There were 66,002 residential mortgages approved in the first month of the decade, down 1.8% from December. Richard Sexton, director at e.surv, said: “While the market fell slightly following the December bump, rumours of a Bank of England base rate […]
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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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