The National Housing Federation’s Home Truths 2015/16 Report has shown that South East house prices now top the table outside London, with an average house in the region now costing £312,242 – nearly 11 times the local average salary of £29,037.
New guidance requiring private landlords in Scotland to install carbon monoxide (CO) alarms in all relevant rental properties will come into force on 1st December 2015.
Following the Housing (Scotland) Act (2014), which states that all private rental properties must contain “satisfactory provision for giving warning if carbon monoxide is present in a concentration that is hazardous to health”, the Private Rental Housing Panel has produced guidance that all landlords in Scotland will be required to follow from December this year.
The total stock of property for sale falls in the UK is at an all time low putting severe pressure on prices that seem determined to spiral upwards. The average annual home price appreciation for England and Wales rises further to 7.3%, driven by lack of supply.
For those trying to get on the ladder it could be worthwhile to consider buying property overseas and use this as a base to move onto the UK property ladder.
Redrow has retained its Best Large Housebuilder Gold from last year, with the WhatHouse? Awards 2015 celebrity host David Walliams presenting the plaque to chief executive John Tutte.
Building over 4,000 homes each year at more than 100 locations across England and Wales, Redrow is now one of the country’s best-known housebuilders, coming a long way since its beginnings as a civil engineering company in 1974. With founder Steve Morgan back at the helm, the company has gone from strength to strength and now has an annual turnover in excess of £1bn.
Strong economic forecasts over the next five years for the country of growth between 2.3% and 2.5% are expected and are being driven in a healthy way via business investment and a growth in exports, not just consumer spending.
It’s estimated another one million jobs will be created over the next five years and even more good news is that job growth is already reaching areas outside of London such as the Midlands (3x rate of elsewhere) and the Northern Powerhouse, spreading the wealth across the country.
Mary Nowell shares her thoughts on the North West legal marketplace where business is booming for property lawyers.
A survey by polling organisation YouGov found that Manchester should be the UK’s second capital city. That’s probably not a surprise to many people but it’s just more evidence that the future of the North West legal scene looks very bright.
New legislation is a welcome attempt to deal with problems that have been affecting the private rented sector for years, but does it go far enough, asks Tessa Shepperson of Landlord Law.
After years of being told that the government had no intention of introducing further regulations, the private rented sector has been hit by a succession of legislative changes, with more on the way. Why is this?
In today’s Autumn Statement, George Osborne announced a 3% increase in stamp duty for buy-to-let properties and second homes from April next year.
Speaking, Osborne said that “more and more homes are being bought as buy-to-lets or second homes”, and that many of them are cash purchases that aren’t affected by the restrictions introduced in the Budget on mortgage interest relief.
The news has been criticised by the industry, with Brad Bamfield, CEO of Joint Equity, describing the announcement as another nail in the coffin of buy-to-let investing”.
With this afternoon’s Autumn Statement providing an array of talking points, especially in relation to the UK housing market, Ray Withers, CEO of specialist property investment company Property Frontiers, has shared his reaction as someone within the industry.
Adam Male, Founder of online estate agent Urban.co.uk gives his reaction:
“The decision to freeze out investors with a hike in stamp duty by adding a further 3% onto buy-to-let property shows the government’s clear dedication to first time buyers. This is a definite requirement in today’s market, but it is also important to remember that we are not only a nation of first time buyers!