The North seeing a mini property boom!

The latest Nationwide House Price Index shows an annual increase of 2.1% in house prices, with a monthly decline of -0.2%. Annual house price growth remained subdued in March • UK annual house price growth steady at 2.1% • London again weakest performing region, with house prices down 1% year-on-year Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: “UK house price growth remained broadly stable in March at 2.1%, little changed from the 2.2% recorded the previous month. House prices fell by 0.2% over the month, after taking account of seasonal factors. “On the surface, the relatively subdued pace of house price growth appears at odds with recent healthy rates of employment growth, a modest pick-up in wage growth and historically low borrowing costs. However, consumer confidence has remained subdued, due to the ongoing squeeze on household finances as wage growth continues to lag behind increases in the...
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Should you invest in North London property?

Property is undoubtedly one of the most solid and secure investments available. If you are in a positon to invest in London it has been the case for many years that house prices could only rise and rise, virtually guaranteeing a strong investment. But with Brexit on the horizon and prices here reaching all-time highs, this has left many people nervous about putting their money here. This is especially true for the most expensive and high-prestige areas of the city, in North London.So is now the right time for you to be investing in property in North London? Here we take a look at the current state of the property market and some of the issues that could affect a potential investment here over the next few years.Growth is slow in London – but it will still growIt is no secret that North London is one of the most expensive...
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Plumbing and Building Considerations for People Wanting to Renovate

In many ways, there has never been a better time to invest in improving your property.This is thanks largely to an increasingly robust property market in the UK, with house prices set to increase by an impressive 7% next year, despite the sustained uncertainty surrounding Brexit and stagnant real wage growth. This growth is particularly prominent in vibrant regional cities such as Birmingham and Manchester, and if you live in these areas you may well be keen on improving your property with a view to adding value.There are certain plumbing and building considerations that you need to pay attention to when renovating your home, however, including the following: 1. Single-storey Extensions Nearly Always Require Planning Permission One of the most popular home-improvement projects involves an extension, which can cost up to £19,500 while delivering an estimated ROI of 71%. You need to know that while single-storey extensions of three metres...
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The government white paper admits the housing market is broken

  The government released the housing white paper today.   They admitted that the housing market is broken. In the white paper they promised a fresh wave of house building.  Communities secretary Sajid Javid told the House of Commons that average house prices have jumped to 7.5 times average incomes and rents in many places swallow more than half of take-home pay. “Our housing market is broken,” he told MPs. “We have to build more, of the right homes in the right places, and we have to start right now.”   Below are some comments from experts in the industry. Steve Bolton, Founder of Platinum Property Partners, comments on the Government’s housing white paper, Fixing our broken housing market: “It’s a welcome change to see Government focusing on not just homeownership, but the private rental sector too. Many people won’t be able to, or indeed don’t have the desire to, buy a...
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How Does Help to Buy Actually Help First Time Buyers?

Getting your leg onto the first rung of the housing ladder can be tough. With house prices high, would-be buyers need to work hard to be able to afford a deposit. In fact, the average deposit paid by first time buyers in September was £26,562, while a third of England and Wales house prices are now at a figure that is ten times the average salary. The Government has tried to do its bit to lower the hurdles in front of first time buyers with its Help to Buy scheme. If you’re looking to benefit from this, however, it’s important to understand how the scheme works. Help to Buy: Four different strings to the bow Firstly, it’s important to realise that Help to Buy is an umbrella term. It refers to four different schemes being run by the Government, each offering a subtly different form of assistance for buyers. Under...
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Free tickets to the The London Homebuilding & Renovating Show

    Explore new ways of tackling the capital’s increasing house prices by attending The London Homebuilding & Renovating Show, sponsored by Anglian Home ImprovementsExCeL, London, 23-25 September www.homebuildingshow.co.uk/london Just Do Property have negotiated some free tickets for our subscribers.  Click here to register for your free tickets.  According to latest research from mortgage lender Halifax, Greater London’s property prices have risen by 432 per cent per square metre over the past two decades. With the capital city’s housing market skyrocketing, The London Homebuilding & Renovating Show, sponsored by Anglian Home Improvements, will return to ExCeL, London from 23-25 September, where it is set to attract a host of new visitors looking for advice and resources to add value by remodelling their homes or building them from scratch to reap the benefits of the buoyant property sector. This year, The Homebuilding & Renovating Show is also presenting a new merchant...
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House price growth steady in July

  The Nationwide have released their House Price Index for July.   House prices increased by 0.5% in July Annual house price growth similar to last month at 5.2%  Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said: “UK house prices increased by 0.5% in July and, as a result, the annual rate of house price growth was little changed at 5.2%, compared with 5.1% in June. “This is the first month’s data following the EU referendum. However, it is important to note that, in constructing the index, we use data at the mortgage offer stage – this means any impact from the vote may not be fully evident in July’s figures, as there is a short lag between a buyer making the decision to purchase a property and applying for a mortgage. Housing market outlook unusually uncertain “It will be tempting for commentators to assign any trends in...
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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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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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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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Free tickets to the South-West Homebuilding and Renovating Show

The South-West Homebuilding & Renovating Show returns to inspire and excite Bath & West Showground, Somerset, 21-22 November 2015 www.homebuildingshow.co.uk/somerset Once again, Just Do Property have secured a number of free tickets for our subscribers. Click here to get your free tickets T&Cs apply: Readers will have to click on the link below, insert their details, print it off and bring it to the show for entry. Please note that the link expires at 3pm on 20 November 2015. A pair of tickets is worth £24 based on the standard on-the-door rate, or £16 based on the advanced ticket price. Tickets are valid for entry on one day of the exhibition which takes place from 21-22 November at Bath & West Showground. Children aged 16 years and under are able to attend free of charge.   The latest figures from the Office of National Statistics reveal that annual house prices in the...
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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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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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Average property property asking price up by 1.6%

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Stamp Duty reform to boost activity says RICS

With HM Treasury suggesting that around 98% of would-be purchasers will benefit from the recently announced reform to Stamp Duty (a removal of the previous slab structure in favour of a marginal system), this policy development has the potential to trigger a material shift in market sentiment.
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House prices continue to increase strongly across the UK

The Office for National Statistics (ONS) released their House Price Index for September 2014.
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Nationwide HPI - Annual house price growth continues to soften

The annual pace of house price growth continued to moderate in October, declining to 9% from 9.4% in September, the second consecutive month where annual growth has fallen. This is despite house prices increasing by 0.5% month on month in October.
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House prices 2.7% higher than previous quarter

The Halifax House Price Index shows that in the three months to September 2014 house prices were 2.7% higher than in the three months to June.
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Average UK house price in August 2014 was £274,000 says ONS

UK average house prices increased by 11.7% over the year to August 2014, unchanged from an increase of 11.7% in the year to July 2014. This follows the moderate 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 house price in August 2014 was £274,000.
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