The Queen’s Speech – What Impact Does It Have on The Housing Market?

It has been a tumultuous week for the housing market, as it has been for many of Britain’s industries and sectors. Theresa May has finally managed to undergo the Queen’s Speech after delays, but the “strong and stable” government that was promised appears more fragile than ever before. Nonetheless, the delivered speech held a number of the Conservative’s intentions for the new government, many focusing on Brexit, and a certain number holding importance for the housing market.One of the most important points of the speech was that, as quoted in the speech, “Proposals will be brought forward to ban unfair tenant fees, promote fairness and transparency in the housing market, and help ensure homes are built.” This refers to a new Tenant’s Fees Bill banning Lettings Fees, which will stop tenants having to pay money to agents. Announced by the Conservatives, this measure has been seen in every major party...
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How the Budget Didn’t Affect the Property Market

Yesterday was a bit of a ‘non budget’ for property investors, buy to let landlords and others in the housing market. ‘Non’ in two senses – the first being that, unlike last year, the words ‘property’ and ‘housing’ didn’t even pass the chancellor’s lips and secondly, Philip Hammond failed to fulfil the wishes of every ambitious landlord in this country by repealing the Stamp Duty on additional homes. Nor was he prepared to announce a U-turn on his clamp down on landlord tax relief – the impact of which will first be felt next month. Self-employed landlord NI contributions to increase What the Chancellor did do though, is hit hard around one in five individuals who make a living by renting out property. This is by increasing National Insurance contributions for the self-employed. For individuals earning between £16,250 and £45,000 annually NI contributions will increase from nine to 10 per...
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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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Four reasons why letting out your home could be a smart move

In today’s economy, people are more strapped for cash than ever before, and they’re turning to the housing market to give their savings that much needed boost. Should you let out your property, or at least a part of it, in a bid to ease the strain on your finances? Well, here are just four reasons why it could be the smart move you’ve been waiting for. It will give your finances a boost The main reason why people are thinking of renting out either a room or their whole property is that it will create cash much quicker. It can be a fantastic solution for families who are struggling to make ends meet, but who currently have a spare room full of junk or a basement that could be converted. Not only will it help you through those difficult months until you find your feet, but the work you...
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Buy-to-let landlords make an eye-watering 16.5% total return in London - latest index from Property Partner

The latest instalment of the Property Partner Residential Market Index is out today. The headline figures are striking: total returns for buy-to-let property in England and Wales rose to 9.6% in the 12 months to the end of March. The PPRMI is a dedicated buy-to-let index, and provides the most accurate picture yet of how residential property has performed as an asset class over the past year. Highlights this month include: Buy-to-let portfolios up 2.3% in 3 months London buy-to-let returns rise 16.5% in 12 months compared to minus 3.9% for FTSE Commenting on the figures, Rob Weaver, Property Partner’s Director of Investment said: “Total returns for residential property crept up to 9.6% in the year to March, as investors rushed to beat April’s stamp duty deadline. “This was especially true of London, where annual returns were in double digits, reaching an eye-watering 16.5%. The East was strong too, and from first hand experience the Northern Powerhouse regeneration plan...
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Buy-to-let ignites chain reaction, driving prices to record high

  Average price of property coming to market up by 1.3% (+£3,843) to set a record high of £307,033 Rush from investors to buy before April 1st helped to ignite an onward chain reaction: Stamp duty deadline gave early impetus to bottom of the market and had knock-on effect of energising the higher sectors of the market This month’s rise is driven by second-stepper and top of the ladder sectors, while smaller properties in first-time buyer/buy-to-let sector see monthly price drop of 1.4% While buy-to-let momentum at the bottom of the market has now dropped away, demand remains high with record visits on Rightmove in March; will first-time buyers take this opportunity to fill the void? Overview The average price of property coming to market is at another all-time high, up by £3,843 to a new record of £307,033. The Chancellor’s autumn statement and announcement of the April buy-to-let stamp...
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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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What can we expect for the property market in 2016?

  It’s always good to have a diverse portfolio, so perhaps it is worth looking at other investment opportunities as well as property.  This article will also discuss the economic factors impacting the property market. Stock market It’s important to have a serious understanding of the stock market before you get involved. The price of oil which clearly impacts many of the largest multinationals and some of the old favourites e.g. BP and Royal Dutch Shell, has dropped to 11 year lows, and was an incredible 46% down in 2015. It has gone from an incredible $116 a barrel, to around $34 a barrel and it would take a brave individual to predict that price will rise in 2016 with supply continuing to come onto the market from all sides of the globe e.g. Iran, Russia, Middle East, USA. The FTSE 100  This started the year at 6560 and ended the year at 6242, with...
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Annual house price growth rises to 9.7%

Prices in the three months to October were 9.7% higher than in the same three months a year earlier   House prices in the latest three months (August-October) were 2.8% higher than in the preceding three months   Commenting, Martin Ellis, Halifax housing economist, said: "House prices in the three months to October were 2.8% higher than in the previous three months. This was slightly above the average of 2.5% on this measure over the first nine months of the year. The annual rate increased from 8.6% in September to 9.7%. “Improving economic conditions and household finances, together with sustained low mortgage rates, have boosted housing demand during 2015. Strengthening demand is filtering through in to higher sales levels although the ongoing shortage of supply is acting as a significant constraint on activity. “The imbalance between supply and demand is likely to persist over the coming months, maintaining upward pressure...
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Fantastic webinar with Mike Frisby

We hosted a fantastic webinar last night with Mike Frisby.  It was a very busy webinar and we were thrilled that so many of you managed to get on. The webinar (LHA and Rent 2 Rent - made simple) was presented by Mike and he gave out so much useful information.  I was astounded by how much profit Mike and his students were making from using his strategies. It was interesting to hear that the social housing market is worth £22bn in the UK. There has been a large increase in claims over the last 12 months. Mike discussed many of his strategies, including the 2 +2 strategy and the micro studio strategy.  You can make thousands more out of your portfolio using these strategies. One point that Mike made clear is that you need to be educated in these strategies properly before you go ahead.  Its very easy to...
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How is the global property market performing?

  After a difficult period during the economic crisis of 2008, the housing market all over the world has been recovering nicely. However, not all areas are improving at the same rate, and if you want to invest internationally, it is worth comparing a few different regions of the world. Best performing countries in the property market Hong Kong property prices are estimated to have risen faster than any other country in the world. In the year between March 2014 and March 2015, the prices have risen by more than 19%. One of the reasons for the rise here is that there is a shortage of property. The second biggest climber in the global property market is Turkey, where prices have risen by 18.6%. The figures were published in the Knight Frank Global House Prices Index, and the countries that complete the top five are Ireland, Luxembourg and Estonia. Measures...
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Are you looking to maximise your own portfolio?

Don’t have your own property but want to get into the property business? Have you allocated all your funds elsewhere but still want to make an income from property? If you answered yes to some or all of these questions – then you need to attend the live LHA and Rent 2 Rent – made simple webinar on Wednesday 16th September 2015 at 7pm. JOIN THE WEBINAR HERE This NO COST webinar is going to be hosted by us and presented by Mike Frisby.  Here is some information from Mike about Social Housing and rent to rent. I have long been considered an expert in the social housing market, where I uplift rents within my personal portfolio by about 33 – 90% AND Ive been running a successful rent 2 rent business now for 5/6 years. If you know or have met/heard of me, you will find, I’m an avid networker...
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New analysis from Rightmove shows the biggest gap between demand and supply is in the first-time buyer sector

Key points New analysis from Rightmove shows the biggest gap between demand and supply is in the first-time buyer sector:  Number of enquiries per property for two bedrooms or fewer is 24% higher than for larger properties of three bedrooms or more  Challenge for government, planners and developers is how best to address this specific demand  Price of property coming to market sees marginal increase for the second consecutive month to a new record high, up 0.1% (+£191) to £294,542 Sharp drop in new seller numbers emphasises supply crisis and shortage of people trading up: Number of new sellers down 10.6% on same period in 2014  High June demand with Rightmove visits and enquiries to agents both up 22% on last year The price of property coming to market has hit a new record high for the second consecutive month, albeit only a small 0.1% (+£191) increase on the month...
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Housing Supply Remains Tight

Key facts • House prices in the latest three months (March-May) were 2.0% higher than in the preceding three months (December 2014-February 2015). The quarterly rate of change fell for the second successive month and compares with 2.6% in March. • Prices in the three months to May were 8.6% higher than in the same three months a year earlier. This was slightly higher than April’s 8.5%, maintaining the annual rate within the narrow range of 8-9% where it has been throughout the period since last October with the sole exception of December (7.8%). • House prices edged down (-0.1%) between April and May • Home sales fell in April. UK home sales dropped by 3.4% between March and April to 97,020. Nonetheless, sales in the three months from February to April were marginally higher (+1.3%) than in the preceding three months. (Source: HMRC, seasonally-adjusted figures) • Mortgage approvals continue...
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The average price of UK properties reaches all time high

Nationwide have released a report that has backed up what many experts have predicted - that the housing market in the UK is still strong and house prices are continuing to rise at a significant rate. The report shows that the average price of a house in the UK is now £193,048 which has seen an increase of 5.2% over a period of 12 months with there also being a 1% increase from March. In the UK, this is the highest average figure seen and it has led to some expressing concerns about the political outlook but there is still high demand for residential and investment property in the UK. The ongoing election campaign, which many believe had a negative effect on the housing market, is not a true reflection on the actual strength of the UK economy. Recent GDP figures have been rather disappointing but the UK does in...
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Annual house price growth continues to soften

Annual house price growth slowed to 5.1% in March from 5.7% in February Annual house price growth slowed for the seventh month in a row UK house prices rose by 0.1% in March Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: “UK house prices edged up by 0.1% in March though the annual pace of growth slowed for the seventh month in a row to 5.1% from 5.7% in February. UK house prices are currently around 2% above their pre-crisis levels. “Economic conditions have remained supportive, with labour market conditions continuing to improve and mortgage interest rates close to all-time lows. Nevertheless, the pace of housing market activity has remained subdued, with the number of mortgages approved for house purchase in January around 20% below the level prevailing one year ago. “While house price growth has moderated across the UK, there is still significant regional variation. Prices in...
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Annual house price growth continues to soften

Nationwide have released their House Price Index for February 2015. Annual house price growth slowed to 5.7% in February from 6.8% in January Annual house price growth slowed for the sixth month in a row UK house prices fell by 0.1% in February Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: “February saw a further softening in annual house price growth to 5.7%, from 6.8% in January.  This is the sixth month in a row in which annual growth has moderated, with house prices declining by 0.1% month on month. “The broader economic backdrop has remained supportive of housing market activity. Mortgage rates remain close to all-time lows and consumer confidence remains buoyant thanks to a further steady improvement in labour market conditions. Indeed, the unemployment rate has continued to decline and earnings growth has picked up, particularly in inflation-adjusted terms, thanks in part to the sharp decline...
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Peter Bolton King comments on UK Housing Week

At the start of the UK Governments Housing Week, Peter Bolton King, RICS Global Property Standards Director, comments on the latest Government and Opposition statements concerning the housing market.
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Price of property coming to market up 1.4% in a month where prices usually fall

Prices and activity both cooled in the second half of 2014, though there are signs of a New Year bounce-back. More people are looking for property than last year, more sellers are putting their property up for sale, and new seller asking prices have increased this month by 1.4% (+£3,798) at a time of year when there are usually price falls. However, Rightmove cautions that sellers will not have it all their own way in the year ahead in spite of the bullish tone set by these early indicators.
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CML says "Gross mortgage lending steady year-on-year"

The Council of Mortgage Lenders estimates that gross mortgage lending reached £16.9 billion in November. This is 9% lower than October (£18.6 billion), and matches the £16.9 billion seen in November last year.
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