European Housing Markets - which countries are performing the best?

Many countries in Europe have been ranked in order of the way in which their housing market performs. Property group CBRE have looked at the way in which they have performed over the last five years. England has performed well but the likes of Turkey, Iceland and Austria have also performed extremely well along with Sweden. 80% of these counties do not form part of the Eurozone which has experienced a crisis and have therefore gone through their own recovery. Turkey is at the top of the list with house prices growing at the fastest rate with prices increasing by 91.3% over the last five years. The economy in Turkey is growing and this is down to the way in which Istanbul is being developed. The population there is young and with new housing developments, people are keen to purchase. The banks in Turkey now have more power and are...
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The cost of 'free schooling' on property prices!

THE COST OF ‘FREE’ SCHOOLING: FAMILIES PAY AN AVERAGE PREMIUM OF £43,773 TO BUY A PROPERTY IN THE CATCHMENT AREA OF A PRIMARY SCHOOL RATED OUTSTANDING BY OFSTED Properties in the locality of Ofsted rated ‘outstanding’ schools cost families on average nearly a fifth (18%) more than other properties in the area St Luke’s Primary School in Brighton and Hove commands an average premium of £151,121 to buy a property close to the top rated school London, 26th May 2016 -- To secure a place at one of the country’s best performing state-funded primary schools comes at a price. According to research by online estate agents, HouseSimple.com, families are having to pay a premium of almost £44,000 to buy a property near primary schools judged as ‘outstanding’ by Ofsted inspectors. HouseSimple.com looked at average property prices in catchment areas for 50 state-funded primary schools across England that received the highest...
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Beach hut prices outperform London property

There was an interesting article in The Telegraph this morning about beach huts outperforming London property! Despite the fact that they have no bathroom, they have risen more in value in the past two years than prime London property. A beach hut in Dorset recently went up for sale for £240,000 and is now sold. It was on the market with Denisons Estate Agents and they appear to have 6 others that have recently sold for between an eye-watering £185K and £240,000.  Here is one on the market for £225,000. They really are unbelievable prices for a hut with no running water and no electricity. The Telegraph reports that all beach huts differ in exact location, condition and quality, so comparisons can't be entirely accurate. But there is a long - if anecdotal - record of hut prices which stretches back decades among their fans. The Mudeford huts, for instance, are claimed...
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The Waitrose Effect: A Waitrose Supermarket Can Double Your Property Price

Leading online estate agent, eMoov.co.uk, has released research into the Waitrose effect on house prices surrounding each of the supermarket’s 300+ UK stores. eMoov’s research found property surrounding Waitrose stores costs £456,000 on average, more than double that of the UK overall (£221,254), having increased 7% over the last year. It’s well known that the close proximity of a house to sought-after amenities can help increase a property’s price potential. Previous research by eMoov found that a mainstream supermarket, such as Waitrose, was the second most important amenity to UK buyers (30%) - beaten only by the British corner shop. Waitrose opened its first supermarket in Streatham back in 1955. Since then the average house price has increased by over 11,000% and now tops £461,000 in Streatham and £220,000 nationwide. The allure of a Waitrose is clearly more appealing to Britain’s upper class than a discount store such as Aldi,...
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Prices and demand at all-time highs as Year of the First-Time Buyer kicks in

Rightmove released their House Price Index for February 2016. Key Facts: Price of property coming to market increases by a substantial 2.9% (+£8,324) this month, hitting a new record of £299,287 and surpassing the record set in October 2015 by over £2,700 Housing demand higher than ever as Rightmove traffic hits record levels, with visits up nearly 20% year-on-year in January Encouraging 5% uplift in new properties coming to the market compared to same time last year resulting in the highest total number of newly-listed properties at this time of year since the 2008 credit crunch The Year of the First-Time Buyer: Government initiatives and low interest rate outlook now aligning with more property choice for first-time buyers, with 10% year-on-year jump in the number of two beds or fewer coming to market Overview The price of property coming to market has hit a new record less than two months...
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Supply flow improving but still insufficent to meet demand

RICS have released their January 2016: UK Residential Market Survey They comment that despite the supply improving, there is still insufficient supply to meet demand. Key Facts: National sales instructions pick up with a significant increase seen in London Market activity gathering pace as demand and sales growth accelerates House price momentum remains firm for now The January 2016 RICS Residential Market Survey points to a pick up in new sales listings for only the third report in the past eighteen months. Nevertheless, after such a prolonged period of falling supply, and with growth in enquiries also gathering pace, this has done little to alleviate the demand supply imbalance for the time being. Consequently, prices remain under upward pressure. After falling unrelentingly throughout 2015, new instructions to sell have now increased modestly in each of the past two months.  Sales instructions across the UK excluding London were much flatter during January. Stamp Duty surcharges Alongside this, new buyer enquiries...
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Lack of stock continuing to drive price growth

RICS have released their Residential Market Survey for November. Key Facts: New instructions continue to fall London market impacted by stamp duty change Buyer demand growth moderates   The RICS survey shows prices continuing to rise, which is driven by a shortage of houses coming to the market. Prices are reported to be rising in all parts of the UK with the South West, East Midlands and East Anglia leading the way in terms of growth. Buyer demand edged up during November. New buyer enquiries rose across the majority of areas, apart from London and East Anglia - both areas saw a small decline. Supply On the supply side new instructions continue to fall for the tenth consecutive month.  It is this demand supply imbalance which is causing prices to rise.  The downward trend on new instructions is reflected in the level of inventory on the agents books. Stamp Duty...
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Annual house price growth rises to 9.0%

  The Halifax recently released their House Price Index for August 2015. House prices in the latest three months (June-August) were 3.0% higher than in the preceding three months Prices in the three months to August were 9.0% higher than in the same three months a year earlier The average monthly costs associated with buying a three bedroom house in the UK for a first-time buyer are £56 lower than the typical monthly rent paid Commenting, Martin Ellis, Halifax housing economist, said: "House prices in the three months to August were 3.0% higher than in the previous quarter. This measure of the underlying rate of house price increased from last month’s 2.5% but remained below June’s 3.3%. “The underlying pace of house price growth is strong. The shortage of secondhand properties for sale on the market is resulting in upward pressure on house prices. At the same time, economic recovery,...
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Annual house price growth softens in August

  Nationwide have released their HPI for August 2015. UK house prices increased by 0.3% in August Annual house price growth slowed to 3.2% Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: “UK house prices increased by 0.3% in August, though the annual pace of house price growth edged down to 3.2% from 3.5% in July. The annual rate of price growth was the weakest since June 2013; this partly reflects the high base for comparison, since prices increased at a particularly strong rate in August 2014. “This month’s data provides further evidence that annual house price growth may be stabilising close to the pace of earnings growth, which has historically been around 4%. “However, survey evidence cautions that this trend may not be maintained unless construction activity accelerates. Surveyors reported the lowest ever number of properties on their books in July (on data extending back to the late...
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Number of property transactions decreased

The Land Registry recently released their HPI for June 2015. Annual growth of 5.4 per cent in June brings the average house price in England and Wales to £181,619 The number of property transactions has decreased over the last year. From January 2014 to April 2014 there was an average of 66,949 sales per month. In the same months a year later, the figure was 57,918. The June data shows a monthly price increase of 1.1 per cent. The annual price change now stands at 5.4 per cent, bringing the average house price in England and Wales to £181,619 Average annual change in residential property prices The June data for London shows a monthly increase of 1.8 per cent. At 9.2 per cent, the annual change for London is considerably higher than most other regions. The average price of property in the capital is £481,820 in comparison with the average...
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July property trends infographic

Rightmove’s July House Price Index reported that the the biggest gap between demand and supply is in the first-time buyer sector.
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Demand for London property increases

  Research by leading online estate agent eMoov.co.uk has found that demand for London property has increased for the first time this year, having declined steadily since June 2014. Demand across London’s boroughs has climbed by 7% since March, although it is still down -15% since this time last year. Founder and CEO of eMoov.co.uk, Russell Quirk, commented: “It doesn’t surprise me that despite the market cooling in some of the capitals more prestigious boroughs, house prices in London have continued to rise. It’s long been accepted that London is one of the most expensive cities to live in the world, let alone the UK, but now that the average house price has tipped above the half a million mark, it really highlights how out of control the property market has become here. The main factor in price growth is always demand and our latest Property Hotspots Index found that...
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Summer Emergency Budget hits landlords hard

Landlords are still reeling from the effect the emergency budget will have on their property rental profits. Shockwaves have been sent around the property investing community. Landlords are going to take a big hit, but not immediately. The Telegraph reports that Landlords could see their profits wiped out as the Chancellor targets the buy-to-let market. Mr Osborne said the income tax relief enjoyed by landlords will be cut to the basic rate, which currently stands at 20pc. The measure, which will address "unfairnesses in property taxation", will be phased in "gradually" from 2017. Buy-to-let landlords can offset their mortgage interest payments against their income, whereas homeowners who live in their properties cannot, he explained. This means that landlords, who get a tax break by using mortgage interest to reduce their taxable profits, will have less opportunity to do so. Landlords in London, where rents and property prices are highest, are...
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Average London house price £479K says Land Registry

  The Land Registry have recently released their HPI report for May 2015. Annual growth of 4.6 per cent in May brings the average house price in England and Wales to £179,696. The annual price change now stands at 4.6 per cent, bringing the average house price in England and Wales to £179,696. The number of property transactions has decreased over the last year. From December 2013 to March 2014 there was an average of 69,282 sales per month. In the same months a year later, the figure was 61,789. The May data for London shows a monthly increase of 0.7 per cent. At 9.1 per cent, the annual change for London is considerably higher than most other regions. The average price of property in the capital is £475,961 in comparison with the average for England and Wales of £179,696. Key regional observations — The regions with the most significant...
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June property trends infographic

Rightmove’s June House Price Index reported that the price of property coming to market rebounds to all-time high as majority-government surprise leads to biggest ever rise in month of June, up 3.0% (+£8,460) to £294,351 Our infographic provides a breakdown of how prices are performing across each region and property type.
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Average house price £179K in England and Wales

Annual growth of 5.1 per cent in April brings the average house price in England and Wales to £179,817 The Land Registry have released their House Price Index for May 2015.  This shows a monthly price increase of 0.9%. The April data for London shows an increase of 2.3%. Bringing the average price in the capital to £474,544.   Key Regional Observations The region with the highest increase in price is London with a movement of 10.9%. The North East saw the only annual price fall with a decrease of 0.6%. Wales saw the largest monthly decrease with a fall of 1.1% Sales Volumes In the months November 2014 to February 2015, sales volumes averaged 64,196 transactions per month. This is a decrease from the same period a year earlier, when sales volumes averaged 73,156 per month. Some of the areas that typically have very low transaction volumes include, but...
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May property trends infographic

Rightmove’s May House Price Index reported a pre-election drop of 0.1% (-£242) on price of property coming to market, the first fall in May since the last general election in 2010 and a big contrast with May 2014’s +2.1% increase.  
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Land Registry shows annual growth of 6.5 per cent in February

The annual price change now stands at 6.5 per cent, bringing the average house price in England and Wales to £180,252
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Rightmoves March Infographic shows pre-election slowdown

Rightmove’s March House Price Index reported that the price of property coming to market is up by 1.0% (+£2,748), a more muted rise at this time of year for three years suggesting a pre-election slowdown.  
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House prices continue to increase strongly across the majority of the UK

UK average house prices increased by 9.8% over the year to December 2014, down from an increase of 9.9% in the year to November 2014. This follows the house price increases the UK has experienced since April 2012 (Figure 1) and is driven in large part by increases in London. The average UK mix-adjusted house price in December 2014 was £272,000.
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