ONS House Price Index shows housing market easing

The ONS (Office for National Statistics) have just released their April HPI (House Price Index) Main findings UK house prices increased by 5.5% in the year to April 2015, down from 9.6% in the year to March 2015. House price annual inflation was 5.8% in England, 1.3% in Wales, 2.2% in Scotland and 8.8% in Northern Ireland. The pace of annual house price growth fell across the majority of the UK in April 2015. Annual house price increases in England were driven by an annual increase in the East (9.6%) and the South East (8.4%). Excluding London and the South East, UK house prices increased by 5.0% in the 12 months to April 2015. On a seasonally adjusted basis, average house prices fell by 1.3% between March and April 2015. In April 2015, prices paid by first-time buyers were 5.8% higher on average than in April 2014. For owner-occupiers (existing...
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Osbornes Surprise Cut to Stamp Duty Throws The UK Housing Market Into Temporary Disarray

It’s not often that an official announcement from the government provokes an immediate flurry of positive activity, but George Osborne’s surprise announcement that ‘unfair and punitive’ tax duties would be “slashed” from midnight on the 3rd of Dec 2014, which came bundled as part of his Autumn statement to the House of Commons, seems to have triggered a storm of purchasing activity for properties below the £937,000 “break even” point that are positively affected by the chancellor’s new policies.
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Knight Franks reaction to the Autumn Statement

  Capital Gain Tax – the current exemption from CGT for non-UK resident owners of residential properties will be removed. Liam Bailey, Head of Knight Frank Global Research, comments… Tax is not the primary driver for the majority of international buyers of residential property in London. We anticipate that the removal of the CGT exemption for non-resident purchasers will have only a marginal impact on demand and pricing. It is important to note that the change to CGT rules brings the UK in line with other key investor markets, such as New York and Paris where equivalent taxes can approach 35% - 50% depending on the owner’s residency status. As we noted in our recent report on International Buyers in London, while non-resident purchasers account for 28% of central London property purchases, their share of the wider Greater London market is far smaller at around 12% of all new-build property...
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Substantial increase in mortgage lending seen by CML over the year

The Council of Mortgage Lenders has reported a steady situation in gross mortgage lending in September, albeit slightly down from £16.4 billion to 16.2 billion. However this does represent a 41% increase on the lending of September last year.
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RICS sees Flat but Stable House Prices

The Royal Institute of Chartered Surveyors (RICS) have released their March 2013 Housing Market Survey. In it it reports that the UK House Prices are stable but in essence flat having changed little over the last few months.
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London Property Continues to Attract Foreign Investors

February brought with it some good news for the UK housing market as house prices saw a national uplift for the first time in nine months. With 14% increase in new buyers registering with estate agents and an 8.7% rise in the number of new homes listed for sale, February saw a growth in activity across the UK housing market.
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CML More Positive about housing market

The Council of Mortage Lenders (CML) this week announced its Gross Lending figures and have the gross lending in December as £11.7 billion.
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RICS see a broad imrpovement in key surevy indicators

The Royal Insitute of Chartered Surveyors (RICS) have recently announced their UK Housing Market Survey outcome for October. Three and twelve month horizon indicators are turning less negatives for prices and generally more postive for sales. Headline national price balance was up slightly from -14 to -7. This means 7% more surveyors reported a fall rather than a rise in prcies
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Average House Prices remain stable - basically flat

The Halifax House price Index for July shows a continuing picture of a flat UK Housing Market, which considering the wider external pressures on the economy is good that it is at least relatively stable. The Average House Price in July was recorded down by -0.6%, however this follows two consecutive months of price rises, so was that not surprising. Key Facts and Figures are: The average UK House Prices is £161,094 So far this year there have been four monthly prices and three falls. Over the more stable three months period leading up to July, the prices were unchanged against the previous three months The yearly change in house prices in July 2012 compared to July 2011 show a fall of -0.6% Nationally house prices are at a similar level as they were in the summer of 2009 Commenting, Martin Ellis, housing economist, said: "The underlying trend in house prices...
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RICS sees impact of stamp duty holiday ending

The Royal Institute of Chartered Surveyors (RICS) has seen the affect of the temporary stamp duty holiday coming to an end in March this year. The headline net price balance however did improve in May from -19 to -16.
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London continues its boyant property market as overall market is flat

The Royal Instituate of Chartered Surveyors (RICS)s April 2012 Housing mArket Survey shows that the UK Housing Market continues to be mainly static, with activity levels in April broadly flat.
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Is Double Renting the new norm for the UK Housing Market?

There is a new trend gaining momentum in the residential lettings market – and it could be taking a foothold across the UK over coming months. “Double renting? is springing up all over the country – where home owners struggling to sell are taking up the option of letting out their existing home to provide an on-going income stream, whilst moving into another - lower cost – rental property themselves.
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UK Housing Market hit by Eurozone jitters

The Rightmove.co.uk House Price Index (HPI) for November 2011 sees a remarkable fall in house for sale prices and seller numbers. The November figures reported a large fall of -3.1% which is in complete contrast to the sizable positive 2.8% rise last month. This places the average asking price coming to the market at £232,144, down by a massive £7,528 – in just one month. Unsurprisingly this is the largest monthly fall since December 2007, but more surprisingly the 3rd largest percentage fall on record. Seller numbers down The uncertain economic outlook stemming from the Eurozone is also spooking seller numbers, with listing numbers down 13% on previous months. This represents the lowest November level since Lehman Brothers collapsed! Both a downturn in seller numbers and asking prices sends strong early warning signals to any sector reliant on consumer spending. The Upside is…. As with most negative news there is...
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London, it would seem, is the place to be!

[caption id="attachment_2240" align="alignright" width="304" caption="RICS UK Housing Market Survey"][/caption] The RICS House Market Survey for September, released yesterday, shows a continuing disparity between the housing market in London and the rest of the country. The UK as a whole saw a headline net price balance staying the same in September to August, at -23. This means that 23% more RICS surveyors recorded prices falling as opposed to prices rising. As with most of the year though, most of the respondents who saw failing prices, did so within the small 0-2% range, rather than in larger falls. Regional Difference London continues to be the only region seeing price rises, with a net balance of +25 – with has subdued since last month of +37. Scotland was only just negative. The worst areas reported were the East and West Midlands, with some massive negative net price balances of -63 and -58 respectively. Volume...
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Economic Gloom Hits Housing Market

[caption id="attachment_2240" align="alignright" width="246" caption="RICS UK Housing Market Survey"][/caption] The RICS UK Housing Market Survey for August released today reports the housing market remaining subdued and continuing to be caught by the overall economic gloom. The overall net price balance for housing edged down further into negative territory, from -22 to -23. This means that 23% more surveyors recorded falling rather than rising house prices. As with previous months though the fall that has been seen by surveyors remains small, with 75% of those seeing it within the 0-2% range. Price Expectations Price expectations amongst surveyors fell quite substantially from -13 to -23, with Sales expectations remaining positive and indeed edging up from +16 to +17 Regional Regionally London continues to fair well with a positive price balance of 37. The next best region was the North West, however the price balance was still negative at -13. The lowest regional balance...
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Rightmove sees housing market unaffected by global markets

The average selling price for a house now stands at £231,543 with quite a large fall of -2.2% is asking prices since Julys HPI figures. Also Rightmove believe any impact from the recent financial jitters to be very limited as they see the market "bumping along the bottom" already.
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Interview with the Empty Homes Agency

  This is very interesting interview by PS Investor Services. With a UK property market considered to be at one of its relative lowest points for decades, the hunger for investors to build their portfolios is ever-apparent.   One potential acquisition strategy – that is often overlooked due to perceived misconceptions – is to look into properties that have been left empty by previous owners.  Please see an interview below with chief executive David Ireland of the Empty Homes Agency with whom we discussed current levels of empty properties in the UK; the effects of the recession on the situation; the housing deficit; the government’s response; what steps can be taken to investigate an empty home; seeking legal advice; available grants for renovating empty properties; getting advice from local authorities; the organisations’ campaign for council tax relief. 1) Can you explain what the essential role of the Empty Homes Agency is? Empty...
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Surveyors continue to see London steaming ahead with price rises

Top headlines from the survey are: House prices continue to decline Price expectations negative albeit less so than previous month London steams ahead with rising prices
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Average House Prices edge up in July

[caption id="attachment_4861" align="alignright" width="212" caption="Average House Prices edge up in July"][/caption] The Nationwide HPI for July reports house prices ‘edging up’, although in reality this is a miniscule change of 0.2%. This is however an improvement on last months completely static figures. This still leaves the average house price for July at 0.4% low than last year at £168,731. Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: Stability has been the watchword for the UK housing market over the past 12 months. Sluggish demand for homes, combined with only a gradual rise in the supply of available properties, has helped to keep property prices relatively stable. The negative movement in house prices and low volume has changed the landscape of the housing market over the last few years and the Nationwide highlights a trend towards the UK becoming a nation of renters! While many people in the 16-24 age...
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RICS sees Stalemate in the Housing Market

The Royal Institute of Chartered Surveyors (RICS) reports it’s UK Housing Market Survey monthly and in June has seen the headline house price balance remain broadly the same.
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