The summer holidays hit mortgage approvals for August as the Bank of England revealed total loans to buy a home dropped to 47,372 during the month.
This is down on the July figure of 48,346 and the month-on-month average of 48,619 that had held since February 2010. Continue reading Mortgage lending remains sluggish for August. However, net lending secured on homes was up £1.7 billion, above the previous six-month average of £0.7 billion
Commercial property tenants are finding relationships with landlords are better but they still have room for improvement.
Tenants marked their landlords an average of 4.9 out of 10, according to a satisfaction survey by the Royal Institute of Chartered Surveyors (RICS). Continue reading Commercial property landlords need to do better, say businesses.
In comparison, the rest of England and Wales was stuck in a rut with more static month-on-month figures.
The buoyant London market is put down to less worry about long term job prospects and cash-rich buyers not affected by difficulties in obtaining mortgages. Continue reading Cash buyers fuel London home sales boom. According to Acadametrics London home sales exploded by 22% during August on the back of cash buyers not needing mortgages and a strong regional economy
Increasing tenant demand and a fall in the number of properties available to let are driving rents higher, says the latest letting market review from the Royal Institute of Surveyors (RICS).
Tenant demand is strongest in London and the East but increased across all regions. Continue reading Buy to let bonanza as rents set to soar.