ONS House Price Index sees positive increases across the UK

The Office for National Statistics house price index for February saw all regions of the UK with strong increases and London with the highest growth. Key facts: UK wide house price were up by 9.1% over the year to February 2014 - up from 6.8% yearly increase seen in January. Regionally annual inflation figures: 9.7% in England, driven by: 17.7% from London 8.0% from South East 7.7% from the East of England 5.3% in Wales 2.4% in Scotland 2.8% in Northern Ireland Over the month this UK wide increase equates to a 1.9% increase when seasonally adjusted This puts the average UK house price at £253,000 for February 2014. Although all regions of the UK are seeing some very strong growth London still leads the way by twice as much as the UK average. Below London in the table is the South East (8.0%), East (7.7%) and the East Midlands (7.7%....
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The Seven Massive Mistakes Costing Most People Thousands of Pounds in Lost Property Profits

This series of articles has been written by Nikki Pope, Property Investor, Lawyer, Educator. Nikki is running one of her fantastic seminars this Saturday in London.   How to Buy £1.5 Million Property for NO MONEY DOWN! Saturday, January 18, 2014 from 9:30 AM to 4:30 PM So you can hear right from the horses mouth!  Click here to register.  In the meantime enjoy the first of the seven massive mistakes.  Weve all heard about location, location, location when it comes to buying property but what about strategy, strategy, strategy? Property is an excellent way of generating real wealth - but it is a big slow boat and expensive to turn around. Get it right & the numbers are big. The prospects for property profits are excellent. Get it wrong and the numbers are big and in a stagnating or falling housing market it can be very difficult to move on from...
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Land Registry reports unchanged House Prices

The Land Registrys March House Price Index is hardly changed from February 2013. Although we are already in May, the Land Registrys HPI is always behind the other major Indices. This is mainly because it uses a dataset of completed sales. According to the Land Registry this helps make it "the most accurate independent house price index". Key Facts in March 2013 HPI: Average house price in England and Wales is £161,793 Monthly increase of 0.1% against that reported in February 2013 Annual increase of 0.9% against March 2012 figures Reduction in property transactions, from October 2011 to January 2012 there was an average of 56,445 sales per month. In the same months a year later, the figure was 54,810. Key regional observations The region with the most significant annual price increase is London with a movement of 9.6 per cent. The region with the greatest annual price fall is the...
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January Fall in Mortgage Lending

The Council of Mortgage Lenders see a decline in the gross lending in January down to £10.4 billion. This is down 9% against the figure in December which was £11.3 billion.
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RICS sees stable price picture & increased Activity

The January 2013 Housing Market Survey from RICS reports some positive signs in the UK market.
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Rents rising but growth moderated according to RICS Survey

The RICS Residential Lettings Survey for the UK is produced every quarter and it’s January 2012 report shows that rents are continuing to stay very positive. Although the rents themselves are still rising, the rate of increase has started to moderate after peaking in mid-2011 – the net balance having eased from +21 down to +13 in January.
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Gross lending a mixed bag of figures

The CML has reported lending figures for January 2012 to be down by 14% to £10.5 billion since December 2011. However this is actually up by 10% year on year since January 2011. Although seasonal decline is expected the CML have shown that January was actually the sixth month in a row of higher lending. In today’s CML market commentary, CML chief economist Bob Pannell comments: “Housing and mortgage market sentiment has improved a little over recent weeks. “The increase in lending compared to January last year helps support our view that housing and mortgage market activity may be boosted by first-time buyers seeking to complete deals before the stamp duty concession ends in March. “Should inflationary pressures continue to fall back, the squeeze on household finances should ease progressively and help support stronger economic recovery going into the second half of the year. This can only be good news for the...
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People searching – but where are the sellers

According to Rightmove, the early signs for 2012 shows an increase in search activity – up 27% on 2011 with 44 million property searches. Rightmove see this partially due to pent up demand due to the continuing lack of mortgage funding. They also believe that Estate agents are marketing the lowest number of properties ever – just 1 new property per week per branch. Asking prices – a mixed bag Although only just into 2012, Rightmove has seen initial asking prices up by 1.4% in the first week – although still 0.8% lower than last months figures. The average asking price is now set at £224,060 and represents a 0.4% increase since January 2011. 2012 – the winners and losers Rightmove is attempting to forecast who it sees to be the winners and lowers to come in the next year: · 2012 Winners: deposit-assisted first-time buyers, equity-blessed trader-uppers, savvy buy-to-let...
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The 2011 home insurance postcode lottery

The cost to insure your home and its contents is steadily on the rise. Since January 2010 we have seen a national average rise of just six per cent or 2.5 pence per day, however new data from price comparison site Money Supermarket has shown that in some areas prices have rose by an astonishing 46 per cent. This is the sad truth for residents of Dorking in Surrey where their home insurance premiums have now risen from an average of £119 to £174 over the last 14 months. That is an increase of 15 pence per day. Greater London seems to have been hit hardest with five areas in the top twenty. Julie Owens, head of home insurance at moneysupermarket.com said: “Unfortunately for consumers, things look set to get worse with the increase in prices unlikely to slow down in the coming years. As our research shows, some areas...
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WIN an Online Interior Design Service

Enter our 2011 competition to win a an Online Room Design Service with Interior Designer, Kiran Singh. All subscribers of Just Do Property are already entered into the 2011 Competition.  But you can gain more entries by recommending friends to subscribe to our site.  The more friends who subscribe the more entries you will get. http://www.justdoproperty.co.uk/2011_prize_competition We have 8 amazing prizes to win in the competition. Our 7th prize, to be drawn in August is an online design service. For a room of your choice Kiran will send you drawings, samples of suggested fabrics, wallpaper, paint and flooring.  I would love to have this done on my own home (shame I cant win!). "Kiran is an expert Interior Architect, Interior & Property Stylist based in London – specializing in Inspirational, Colourful – High-End Residential & Hospitality Interiors "  For more information, go to her website. For a chance to win, simply...
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Large Fall in January lending! Unusual combinations to blame...

[caption id="attachment_4523" align="alignright" width="300" caption="Mortgage lending takes a large fall"][/caption] The CML (Council of Mortgage Lenders) believe an "Unusual combination of factor" caused the large fall of 26% in house price purchase lending in January. We normally expect to see a fall between December and January but not of this size, which could not have only been caused by seasonal factors. The CML believe this to come from: the governments spending cuts starting to bit rising inflation tax measures putting pressure on household budgets Decembers extreme winter weather uncertainty over interest rates All these factors had led to a very sluggish mortgage market. This fall itself is represented by 28,500 loans worth £4.2 billion pounds. CML director general Michael Coogan said: "Pressures on household budgets have been increasing both in terms of take home pay, and indirect tax measures such as the VAT increase and recent inflationary pressures, so we were...
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Halifax believes prices on slight downward trend

[caption id="" align="alignright" width="315" caption="Halifax sees a fall of -0.9% in February"][/caption] Halifax February House Price Index (HPI) is more bleak than the earlier Nationwide HPI announcement this week, see a slight downward trend in prices and a fall of -0.9%. Halifax believes that being the largest lending in the UK, their HPI is more accurate than most, although generally all HPIs are reporting the same flat market with some slight downward pressure – this means it is a buyers market. But some signs suggest that a shortage of houses will continue and could cause some upwards pressure. This means the average house in the UK now costs £162,657. "There has, however, been little change in house prices over the first two months of 2011 as a whole.  Februarys monthly decline of 0.9% offset Januarys 0.8% gain. comments Martin Ellis, housing economist. "Overall, we expect a modest 2% decrease in house...
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Land Registry reports drop in prices in January

[caption id="" align="alignright" width="338" caption="January 2011 up 0.2% on the month but down -0.9% over the year."][/caption] The Land Registry HPI announced today reported a -0.9% yearly drop in house prices, which were in line with the previous announcements from Nationwide and Halifax. Monthly it was a 0.2% rise, which actually is the the 1st positive value for 5 months, leaving the average house price for England and Wales at £163,177. The Land Registry is seen as one of the most accurate HPI figures covering all house sales and also released after most of the other stats. It also details the various areas of England and Wales and this month London is at the top of the yearly figure with a 2.4% increase. The only other are in the positive figures was the East, with Wales at the bottom with a -6.1% drop. For more information on any particular area visit:...
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