Property Update

11th May, 2018, by David Hargreaves

Saturday 5 May

  • Lloyds Bank analysis of Land Registry figures shows there was a 5% increase in the number of homes sold for more than £1m last year.

Sunday 6 May

  • British Property Federation figures show there were 21,000 build to rent homes built in the year to March, with almost 100,000 more planned or under construction.
  • Jonathon Ivory, of developer Atlas Residential, believes build-to-rent will “change the face of real estate” and become the “go-to choice for land owners, developers and residents”.

Tuesday 8 May

  • Research from holiday property fund Second Estates shows that holiday lets are among the highest returning assets within the UK property sector.

Wednesday 9 May

  • UK house prices posted their largest monthly drop since September 2010 in April, according to the Halifax, down 3.1%.
  • Mortgage borrowers are throwing away £1.15bn a year because they sign up for the wrong deals, a report by the City watchdog has revealed.

Thursday 10 May

  • House prices saw the biggest dip since 2012 in April, led by the upper tier of the property market.
  • The number of rental properties owned by buy-to-landlords has dropped by 88,000 in the two years since the government increased stamp duty on the purchase of second homes.

Friday 11 May

  • As online estate agencies at present account for more than 5% of annual property sales – traditional agencies are warning that, while you may save on commission, you can lose in other ways such as undervaluing or overvaluing.
  • The Bank of England has kept interest rates on hold at 0.5% and cut its growth forecast for this year to 1.4%.

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