Tag Archives: Communities and Local Government Department

Newham council wants to traffic tenants out of London Buy to Let News, Latest Articles, Property Market News

Housing minister Grant Shapps has accused Newham Council, East London, of ‘playing politics with peoples’ lives’ over a radical plan to shunt homeless families out of the capital because benefit caps do not allow them to move in to local buy to let properties.

The council has a housing waiting list of 32,000 people and claims cuts to housing benefits mean tenants can claim a monthly allowance of between £250 for a one-bedroom flat and £400 for a four-bedroom property. Continue reading Newham council wants to traffic tenants out of London

Eyesore Extensions Must Go, Planners Tell Landlords Buy to Let News, HMO's & Student Lets, Latest Articles, Lettings & Management, Property Investment News

Planners are cracking down on landlords who have added extensions to 24 homes in just three streets without permission.

Manchester City Council says 14 of the illegal extensions were built on properties owned by two landlords. Continue reading Eyesore Extensions Must Go, Planners Tell Landlords

Housebuilding Slumps to Lowest Level for 88 years Latest Articles, Property Development, Property Market News

The building of new homes has slumped to the lowest level ever – running at half the number needed to keep up with demand.

The latest government figures revealed 120,000 new homes were built in England last year.

Although London has the most resilient housing market, the capital saw the largest drop in the number of new homes started – down 27% on the year before. Around 18,000 new homes were built in London in the year. Continue reading Housebuilding Slumps to Lowest Level for 88 years

House Prices and Sales are Still Stagnating House Prices, Latest Articles, Property Market News

1 green property amongst a row a red properties

"House prices are stagnant"

Little has changed in the stagnant housing market over recent weeks, according to the latest market and price surveys.

The latest UK house price statistics from the government show house prices sliding back 1.3% over the year to the end of August.

The average UK house price was £208,476, says the Communities and Local Government Department.

Despite the annual fall, prices barely moved over the summer – just 0.2% down in the quarter ending August 31.

Meanwhile, some estate agents (5%) reported fewer homes for sale in September, a housing market survey by the Royal Institution of Chartered Surveyors found.

Estate agents claimed sellers had little confidence in the market and economic worries mean many have doubts about putting their properties up for sale.

The number of homes for sale on agent books increased to 68.9 from 66.9, while sales per branch increased fractionally but still run at just one a week.

Michael Newey, of RICS, said: “Falling supply of fresh stock is indicative of general fears overhanging the economy, with many potential sellers preferring to stay put for now. As a result, the UK housing market remains pretty flat with activity level generally subdued.

“Although it is hard to see what will give the market a lift in the near term, the announcement of a further raft of quantitative easing from the Bank of England will help to at least keep mortgage rates down. This, if nothing else, should ease the pressure on existing homeowners and limit the risk of a material pick-up in repossessions.”

The house price balance remained unchanged during September, with 23% more estate agents telling RICS prices fell.

Estate agent housing market expectations are positive for the coming months, although they fell back from previous months, mainly on the feeling that buy to let investors will return to bricks and mortar as a haven from turbulent financial markets.

More House Price Gloom as Market Flatlines House Prices, Latest Articles, Property Market News, Property Sales & Sourcing

House built up with jigsaw pieces

"CLG have found a stagnant market"

The latest official statistics confirm the housing market is sluggish and is not showing any signs of a revival at any time soon.

The government’s Communities and Local Government statistics for July show that house prices fell 1.5 percent year on year and a nominal 0.3 percent from June.

The average house price is now £ 207,690.

Prices fell slower in Wales (-0.1%) than England (-1.5%) and Scotland (-1.8%).

London has the highest average house price (£347,271). The North East has the lowest at £133,163. Continue reading More House Price Gloom as Market Flatlines

Do estate agents really know the price of a house? Latest Articles, Property Market News

Jouse on seesaw with question mark

How reliable is house price data?

How a house is really valued is the subject of a seemingly never ending debate raging between economists, estate agents, surveyors and property professionals.

The final figure is not that important to anyone other than a property investor or buy to let landlord looking to buy, sell or remortgage. Continue reading Do estate agents really know the price of a house?

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