Property News

27th April, 2018, by David Hargreaves

Saturday 21 April

  • Research from Simple Landlords Insurance has found that a third of landlords with just one buy-to-let property are planning to sell and give up on the sector.
  • The average asking price of new-to-the-market property has hit a new record of £305,732, according to Rightmove.

Sunday 22 April

  • Homeowners not locked into a fixed rate mortgage are being urged to do so ahead of possible rate rises.
  • The average number of viewings it takes to sell a property has risen from 11 to 19 in the past three years.

Monday 23 April

  • With rates on the market’s most popular loans hitting their highest levels in two years, Charlotte Nelson from Moneyfacts says the mortgage market is “experiencing a period of upheaval.”

Tuesday 24 April

  • The UK economy is set for another year of uninspiring growth in 2018, according to EY Item Club economists, who suggest this week’s first-quarter GDP figures are expected to show growth of just 0.2% – 0.3%.

Wednesday 25 April

  • Just 92,270 homes were sold in March, according to HM Revenue & Customs’ latest figures, a 7.2% month-on-month fall and 11.8% lower than the same point a year ago.
  • Brian Murphy, head of lending for Mortgage Advice Bureau, suggests that in the vast majority of towns and cities across the UK it is not a lack of consumer demand which is putting the brakes on the housing market – but what’s available to buy and lack of choice.

Thursday 26 April

  • House prices in UK cities were up 5.5% overall in March – Edinburgh led the way with an 8.8% increase, followed by Nottingham and Manchester with 8% and 7.4% respectively.

Friday 27 April

  • House prices cost nearly eight times earnings on average in England and Wales last year.
  • Almost 155,000 new homes were listed with the National House Building Council in the year up to April, marking a 2% fall on the previous year.
  • Some 70,000 first-time buyers have collectively saved £159m in stamp duty since the exemption was introduced in November last year, an average of £2,300 each.

For further information on any topics presented in this week’s property update, please contact our office on 0115 841 1155.