Choices Magazine Personal Finance related Industry News. en-us Thu, 14 Nov 2019 01:14:36 GMT Tax changes will affect more than half of landlords A survey of property investors and landlords conducted by Mortgages for Business has found that 60% of participants believe they will be affected by incoming changes to mortgage interest tax relief and tightened buy-to-let lending checks.    Some 29% of the 300 landlords surveyed said they don't think they will be affected... Wed, 04 Jan 2017 02:32:54 GMT Renting families want longer tenancies, says charity Equivalent to 1.5 million family households currently living in the Private Rented Sector (PRS) would like a longer tenancy agreement, according to Citizens Advice.   The charity reports that 39% of people living with their children in the PRS have a tenancy of six months or less and that 39% of renting... Wed, 04 Jan 2017 02:31:55 GMT Average UK house price rises above London's for the first time since 2008 For the first time in eight years, house prices in the capital grew slower than the national average in 2016.   The findings, revealed by high-street mortgage lender Nationwide, showed that average prices in London rose by 3.7% last year. By contrast, the average increase across the country as a whole was... Wed, 04 Jan 2017 01:07:43 GMT Industry body calls on councils to protect tenants from rogue landlords The Residential Landlords Association (RLA) has called on councils across the UK to up their games in order to protect tenants from the minority of landlords who are providing poor, sub-standard accommodation.    The RLA's intervention comes hot on the heels of a report by Citizens Advice, which found that whilst the... Wed, 04 Jan 2017 01:06:40 GMT Landlords ‘continuing to see strong yields and increasing rents’ The private rental market is still holding strong, despite ongoing pressures elsewhere in the British economy, according to Adrian Gill, director of Your Move.   He said: “Landlords are continuing to see strong yield levels and rents are increasing, even if growth is slower than it was previously.”   His comments follow the release... Wed, 04 Jan 2017 10:28:34 GMT Think-tank claims many more private renters than previously thought The Resolution Foundation, a think tank, claims that home ownership is far lower than is widely believed to be the case in the UK - and as a result, the private rental sector is much larger than previously thought to be the case.   The foundation claims that, for example, a person... Wed, 04 Jan 2017 10:27:42 GMT Rents set to rise as demand will outstrip supply in 2017 The substantial imbalance between supply and demand is likely to persist, maintaining upward pressure on rental prices in 2017, according to the Association of Residential Letting Agents (ARLA).    The trade body for letting agents forecast that demand from renters will continue to rise this year but fear that the number of... Wed, 04 Jan 2017 10:27:17 GMT "London's period of outperformance drawing to a close" The chief economist at Nationwide says there are signs that the period of domination for London’s housing market - which for many years has outperformed the rest of the UK - is now drawing to a close.    “[In 2016] for the first year since 2008, annual house price growth in the... Wed, 04 Jan 2017 10:25:51 GMT Want to lobby Phillip Hammond? Here's how you do it... The government has published a new set of guidelines for organisations, companies and individuals to lobby the Treasury ahead of the next Budget on March 8 - likely to be the focus of many in the lettings sector after the raft of recent legislation concerning buy to let.   In the past... Wed, 04 Jan 2017 10:25:00 GMT Surprise, surprise - new-build homes are actually getting larger After years of surveys suggesting the UK’s new-build homes were getting smaller, and may even be the smallest in much of Europe, a new report suggest the trend is now moving in the opposite direction.   The Home Builders Federation’s report, entitled Goodness Spacious Me, finds that the number of bedrooms built... Wed, 04 Jan 2017 10:24:19 GMT Average rent hits £830 pcm in England and Wales The average rental property was let for £830 a month in November according to Your Move - that means the average rents have risen 3.9 per cent in the preceding year.   On a regional basis, rents increased in nine of the 10 regions surveyed during the past 12 months with only... Wed, 04 Jan 2017 10:23:43 GMT 'How about a list of rogue tenants?' asks leading journalist A leading personal finance journalist - and a former editor of Landlord Today - has used the columns of right wing political publication The Spectator to call for a ‘name and shame’ register of so-called rogue private sector tenants.   “As is stands, a rogue tenant can move from one property to... Wed, 04 Jan 2017 10:22:32 GMT Politician urges 'secret shopping' to name and shame rogue agents One of London’s leading politicians has created guidelines to help individuals ‘secret shop’ in a bid to expose what she claims are ‘rogue letting agents.’   Sian Berry, a Green member of the London Assembly and the party’s candidate in last year’s Mayoral election in the capital, claims a survey she conducted... Wed, 04 Jan 2017 10:21:52 GMT Revealed: what makes landlords tick A new research study of 2,500 landlords - one of the largest ever undertaken - has provided an insight into the UK landlord population's profile, motivations and plans for the future.    Carried out by Kath Scanlon and Christine Whitehead of the London School of Economics, on behalf of the Council of... Wed, 21 Dec 2016 02:14:02 GMT Number of 25-year old homeowners has halved in last two decades Analysis carried out by the Local Government Association (LGA) has revealed that home ownership rates among 25-year-olds have fallen by more than half in the last 20 years.    While 46% of all 25-year-olds owned their home 20 years ago, that figure only stands at 20% today, with younger buyers finding it... Wed, 21 Dec 2016 01:31:03 GMT How much can letting agents save landlords? New research has identified just how much landlords could save each year by employing a letting agent.    Endsleigh's survey of 500 landlords has revealed that landlords estimate they could save £1910 per year by working with an agent, rather than letting to tenants directly.   Interestingly, over 50% of those surveyed said they... Wed, 21 Dec 2016 01:28:35 GMT Pensioner incomes lagging behind rises in house prices House prices have risen twice as fast as pensioner incomes since 1994/95, new research from the Equity Release Council has revealed.    The rises in house prices have far surpassed the gains in pensioners' disposable income from other forms of retirement income such as state pension, investments, occupational pensions and other earnings.   Pensioners'... Wed, 21 Dec 2016 01:27:34 GMT Investors ‘remain motivated’ regardless of festive period The UK housing market is showing signs of cooling as it enters the traditionally calm period in the run-up to Christmas - as happens every year – but there are signs that some property investors are still highly active.   More than £1.65m worth of property sales was achieved at Cheffins’ auction... Wed, 21 Dec 2016 09:12:29 GMT House prices set to rise across major UK cities in 2017 Residential property prices across many of the UK’s largest 20 cities appear to offer plenty of room for growth in 2017, despite having already increased significantly over the past 12 months, the latest Hometrack UK cities house price index shows.   The average price of a home in these cities rose by... Wed, 21 Dec 2016 09:11:49 GMT Majority of letting agents expect rents to rise in 2017 Rents will continue to increase next year, owed in part to a reduction in housing supply in the private rented sector (PRS), as more buy-to-let landlords exit the market as a consequence of recent tax changes.   The phasing out of mortgage tax relief from April 2017, coupled with the introduction of... Wed, 21 Dec 2016 08:31:57 GMT Overseas mortgage enquiries for UK property up 45% There has been a significant increase in the number of opportunistic overseas investors taking advantage of effective discounts caused by sterling’s nosedive after the UK voted to the leave the EU by acquiring property in Britain.   A weaker exchange rate means that UK property is now a lot cheaper for foreign... Wed, 21 Dec 2016 08:31:08 GMT Almost one in ten homes could become unrentable by 2018 Nearly one in ten properties currently available on the rental market could become unrentable by 2018 if government plans for new legislation go ahead, according to fresh data released by Quick Move Now.   The 2015 Energy Efficiency Regulations, passed in March 2015, set out minimum energy efficiency standards for England and... Wed, 21 Dec 2016 08:30:52 GMT ARLA warns government over room size and licensing proposals The Association of Residential Letting Agents is warning the government that some of its proposed changes to regulations governing HMOs may have unintended consequences.    The warning has come in ARLA’s response to the Department for Communities and Local Government’s consultation on ‘Houses in Multiple Occupation and residential property licensing reforms’.   The consultation... Wed, 21 Dec 2016 08:30:08 GMT Refurbishing a property – the dos and don’ts Thanks to the chancellor’s tax measures, many landlords now have to review their portfolios to find ways to protect their profits. Some landlords may be selling off unprofitable properties, while others will be incorporating their portfolio, or extending and refurbishing to enhance the rental income.   While the stamp duty surcharge on... Wed, 21 Dec 2016 08:28:17 GMT Rental market activity improves in November Activity in the letting market improved dramatically in November, according to the latest data from Agency Express.   Across the UK, the number of new listing ‘to let’ rose by 13.9% year-on-year, up from an increase of just 3.4% in new rental properties coming on to the market in the corresponding month... Wed, 21 Dec 2016 08:26:50 GMT Buying bargains at property auctions Auctions are a great way to add to a buy-to-let portfolio, with a wide range of bargains often going under the hammer. But as any shrewd buy-to-let landlord will know, there is more to buying property than simply turning up and making a bid.   Among the many attractions of buying property... Wed, 21 Dec 2016 08:26:09 GMT Landlords would consider forgoing a letting agent if profits were hit New research from the UK Association of Letting Agents (UKALA) has revealed that nearly half of landlords (47%) would dispense with the services of their letting agent if their profits began to suffer.   The research, conducted to assess the impact on letting agents' businesses of the upcoming changes to landlord taxation... Wed, 14 Dec 2016 10:37:44 GMT Tenants' property maintenance delays are costing landlords The average landlord is spending £2,360 each year on essential maintenance, according to new research.   LV= calculates that the UK's approximate 1.75 million private landlords are therefore spending a combined £4.1 billion on property maintenance each year.    A quarter of landlords surveyed by the financial services firm admitted that they felt that... Wed, 14 Dec 2016 10:36:28 GMT Lack of understanding over base rate and mortgage repayments Only one in four mortgage borrowers is aware of how reductions in the Bank of England's base rate affects their repayments, according to research carried out by Trussle, the UK's first online mortgage broker.    The Bank of England cut the base rate for the first time in more than seven years... Wed, 14 Dec 2016 10:33:07 GMT Government failing to meet its targets on affordable new-builds Just 4% of the affordable homes purchased in 2016 were new-build properties. This is according to research carried out by conveyancing firm My Home Move.   Affordable housing is counted as homes priced under £125,000, and only 4% of the homes bought in the last year in this category were new-builds, very... Wed, 14 Dec 2016 10:14:32 GMT Rents predicted to increase 15% by 2020 Rents across the UK are set to rise considerably faster than house prices over the next three years, according to the chief operating officer of one of the UK’s leading property franchises.   Dorian Gonsalves, of Belvoir, which has a network of 300-franchised offices nationwide, predicts a 15% increase in rents by... Wed, 14 Dec 2016 08:43:03 GMT Government set to extend mandatory licensing of HMOs The Department for Communities and Local Government (DCLG) has ended a consultation on ‘Houses in Multiple Occupation (HMO) and residential property licensing reforms’, which ran until yesterday.   The consultation, which invited buy-to-let landlords to have their say on the proposed changes, came ahead of plans to make a number of amendments... Wed, 14 Dec 2016 08:42:12 GMT UK 'has highest property tax in developed world' An assessment undertaken by the Organisation for Economic Co-operation and Development shows property taxes accounted for 12.7 per cent of the total tax burden in 2014, the latest data available - and this is the highest share in the developed world.    The figures, published in the Daily Telegraph, include purchase tax... Wed, 14 Dec 2016 08:41:37 GMT Insurance firm claims inadequate cover for buy to let homes An insurance firm says a poll of 1,000 landlords suggests 50 per cent either did not have public liability insurance or were unaware whether they were covered.   The firm says this suggests there could be up to one million buy to let properties with no, or inadequate, cover to protect the... Wed, 14 Dec 2016 08:40:21 GMT London's biggest rent drop for six years The average London rent in November was 0.7 per cent lower than last year - not an enormous fall but nonetheless the sharpest drop since October 2010 according to Countrywide.    In its latest monthly rental index it reveals that over the course of the last 12 months, London has gone from... Wed, 14 Dec 2016 08:39:49 GMT Government policy towards the PRS ‘will increase costs for landlords’ It is not the best time to be a buy-to-let landlord at the moment, with a raft of ‘anti-landlord’ policies being introduced by the government prompting concern that buy-to-let landlords with low profit margins could end up making a loss as a result of various tax changes, which will push... Wed, 14 Dec 2016 08:39:17 GMT Over-65s see average property value rise £26,000 this year Retired home owners have gained an average of £26,000 tax-free this year from their houses, new analysis from an over-55s financial specialist firm, Key Retirement, has revealed.    Total property wealth owned by over-65s who have paid off their mortgages grew to a new record high of £1.031 trillion in the past... Wed, 14 Dec 2016 08:38:40 GMT Car parks: the answer to Britain's affordable homes shortage? One of Britain’s best known housing innovators says he may just have found one way of helping overcome the UK’s shortage of affordable homes - by using car parks.   “Many of Britain's ground level car parks are filled with cars during the day: at stations, schools and colleges, shopping centres, healthcare... Wed, 14 Dec 2016 08:36:02 GMT What does 2017 hold for the property market? As 2017 edges ever closer, a number of property experts have had their say on how they see the market shaping up over the next 12 months.   Here are the expectations from the team at Stacks Property Search – one of the UK’s leading property buying agencies.    Property prices to remain steady   “Property... Wed, 07 Dec 2016 02:31:48 GMT Eight ways to legally deal with non-paying tenants Rent arrears are a big problem for many landlords and chasing money can be an arduous and largely thankless task.    With this in mind, Danielle Hughes, a solicitor at Kirwans, shares her tips on the best ways landlords can pursue outstanding rental payments and reduce the chances of rental arrears in... Wed, 07 Dec 2016 02:26:26 GMT Remortgaging driving mortgage market, research shows The latest research from Connells Survey & Valuation has revealed that remortgaging activity is the main driver in the mortgage market, outperforming all other areas.    According to their findings, November saw a jump in activity of the number of people looking to remortgage, with valuations increasing by 4.9% compared to October... Wed, 07 Dec 2016 02:25:19 GMT Big uptake in Land Registry's fraud protection alert service The Land Registry has revealed that more than 50,000 people have signed up to its free Property Alert service.    The service, which was originally launched in 2014, allows people to detect fraudulent activity on their property by sending email alerts when new activity has been monitored, such as a mortgage being... Wed, 07 Dec 2016 02:24:30 GMT Rents in London set to rise as demand for homes outstrips supply The cost of renting property in London looks set to increase in the months ahead on the back of the widening supply-demand imbalance in the capital, according to property agents Portico.   It forecast that rising demand from a growing population, coupled with low unemployment levels, will place upward pressure on rental... Wed, 07 Dec 2016 11:30:22 GMT November was a ‘surprisingly buoyant’ month for the housing market The UK housing market remained ‘surprisingly buoyant’ last month with only a marginal decline in the volume of homes changing hands, fresh data has revealed.   Despite the traditional slowdown in activity as we head towards the Christmas period, the latest figures from the Agency Express Property Activity Index show that new... Wed, 07 Dec 2016 11:29:29 GMT MP calls for stamp duty to be payable by the seller Stamp duty should be coughed up by those selling their home rather than purchasers as this would boost property transactions, while also helping more first-timers to get a foot on the housing ladder, it has been suggested.   Carlisle MP John Stevenson is urging the government to consider reforming the unpopular tax... Wed, 07 Dec 2016 11:28:49 GMT House price falls in London look ‘inevitable’ Homeowners and property investors in Greater London are facing steep falls in house prices as the slowdown in prime areas of the capital looks set to ripple out to other parts of the city, according to Portico.   The London estate agent points to the fact that the volume of transactions in... Wed, 07 Dec 2016 11:27:29 GMT Where have prices increased the most due to Crossrail? London’s new Crossrail, a railway line spanning from Reading and Heathrow in the west to Shenfield and Abbey Wood in the east, was always expected to push up residential property prices along the route, but a new report has revealed that homes close to stations have already increased sharply even... Wed, 07 Dec 2016 11:27:06 GMT Title insurance made available on buy-to-let acquisitions Hampshire Trust Bank has teamed up with Titlesolv to make title insurance available for commercial and buy-to-let purchases and remortgages up to £2m.   The product, available through Titlesolv, offers cover for the bank in case of title disputes, but can also help streamline the application process for brokers by covering issues... Wed, 07 Dec 2016 11:26:29 GMT Foreign investors are the real drivers of London property Since the shock Brexit result was announced in June, and the consequent drop in value of the pound, there has been significant increase in overseas investors keen to secure what some may perceive to be a bargain in the London property market. However, simultaneously, foreign investors have become the scapegoat... Wed, 07 Dec 2016 11:25:38 GMT First time buyers "have a lot to thank Help To Buy for" Moneyfacts, the independent financial products monitoring service, says first time buyer have a lot to thank Help To Buy for - even if they did not use it as a means to obtain a mortgage on a property to purchase.   Back in September the government confirmed that the Help To Buy... Wed, 07 Dec 2016 11:25:22 GMT Agents' fee ban will reverse trend of fewer rent rises, says ARLA The ban on letting agent fees charged to tenants - which was announced as part of last week's Autumn Statement - will have a significant impact on a trend of slowing rent hikes, according to the Association of Residential Letting Agents (ARLA).   The organisation says that during October its member agents... Wed, 30 Nov 2016 11:58:02 GMT Some landlords wait longer than four months for a tenant New research carried out by the Nottingham Building Society (The Nottingham) has revealed that over one in five landlords have to wait more than four months before signing up their first tenants.   Its UK-wide study of landlords found that some 21% have had to wait four months or longer after completing... Wed, 30 Nov 2016 11:00:20 GMT Christmas markets help to power house price growth The UK towns and cities with the best Christmas markets also achieve the strongest price growth, research by Knight Frank has found.    Researching some of the most popular festive markets in the country (and the property price growth in these locations), Knight Frank's study shows that the most thriving property markets... Wed, 30 Nov 2016 10:57:53 GMT No fee fixed-rate mortgages on the increase The number of fee-free mortgages available to those searching for a fixed rate deal has more than doubled in the past 12 months, according to findings from Borrowers eager to reduce upfront costs have now been given more choice as a result of this rise in fee-free deals.    The research... Wed, 30 Nov 2016 10:56:48 GMT Property better investment than money in the bank! From a property investor’s perspective, it has been a tough year following a raft of changes introduced by the government.   Aside from the introduction of the stamp duty surcharge in April, the 10% Wear and Tear tax relief for those investing in the buy-to-let market has been abolished, leaving them free... Wed, 30 Nov 2016 09:33:43 GMT Record sales to first time buyers in 'bounce back' market Almost a third of total sales in October were to first time buyers according to the National Association of Estate Agents - that’s the highest proportion on record.    Some 32 per cent of total sales made were to FTBs, representing a nine per cent rise from September and the highest number... Wed, 30 Nov 2016 09:33:26 GMT Change and uncertainty has contributed to ‘slowdown in activity’ The housing market is currently seeing more cautious behaviour by property investors due to greater political and economic uncertainty, according to one leading expert.   Residential property sales have fallen across many parts of the country during the second half of the year, as fewer investors buy property, as reflected by the... Wed, 30 Nov 2016 09:32:22 GMT Firm warns of 'litigation' against new-build conveyancers A firm is warning of “a wave of litigation from home owners who were given inadequate advice from their solicitors or valuers.”   Leasehold Solutions says a number of Taylor Wimpey house buyers are considering action against their conveyancing solcitors who allegedly failed to inform them appropriately about the housebuilder’s policy to... Wed, 30 Nov 2016 09:31:54 GMT Buy-to-let landlords likely to increase rents to offset higher costs There are growing fears that tenants will end up bearing the cost of the government’s decision to ban letting agents' fees to tenants, with fresh research revealing that buy-to-let landlords will be left with no alternative but to pass extra charges onto tenants if they are required to pick up... Wed, 30 Nov 2016 09:31:23 GMT Bank of England quizzing lenders over buy to let stress tests The Financial Times reports that the Bank of England is questioning buy to let mortgage lenders and banks as part of a move to restrict lending only to the ‘safest’ of investments.    The FT says supervisors from the Prudential Regulation Authority have visited at least three major lenders in the last... Wed, 30 Nov 2016 09:30:55 GMT New scheme boosts ‘investor confidence in London’s status as global city’ A proposed 73-storey skyscraper looks set to become the tallest in the City of London after being given the green light by City of London corporation planners yesterday.   The 1 Undershaft scheme, drawn up for Singaporean developer Aroland Holdings, will occupy the site of the St Helen’s office block – originally... Wed, 30 Nov 2016 09:30:07 GMT Top tips to ensure your next property investment is gas safe When investing in a new property, you can’t always be sure when the appliances and pipework in the building were last serviced and checked, but it does not need to be that way. Before parting with your money, ensure that the property is gas safe with this checklist of tips... Wed, 30 Nov 2016 09:29:27 GMT Two more big city Build To Rent schemes announced The largest Build To Rent deal yet to be delivered in Bristol has been announced.    Grainger, the UK's largest listed residential landlord, will forward fund, acquire and operate the scheme in a deal worth £45.7m; it will create 194 homes and the scheme, to be built by Cubex Land, will begin... Wed, 30 Nov 2016 09:29:06 GMT Property industry reacts to final Autumn Statement The Chancellor Philip Hammond today delivered his first Autumn Statement, which included a number of measures for the property industry.    The headline-grabbing story is that the Government is seeking to ban letting agent fees charged to tenants in England and Wales 'as soon as possible'.   News of the intention to ban fees... Wed, 23 Nov 2016 04:50:30 GMT Good broadband now more important to buyers than a view The importance placed on good broadband has been further highlighted by the results of Knight Frank's first Buyer Survey, which showed that superfast broadband connection and excellent mobile phone coverage are just as important to buyers nowadays as a good view.    The research, which tracked the views of more than 500... Wed, 23 Nov 2016 04:09:34 GMT Flats make appearance in UK's super-prime property market Research into the super-prime property market has revealed that there are currently 21 properties in the UK priced £20 million and above, with five of these being flats.    The research, conducted by online estate agent, found that there are 107 £10 million-plus properties for sale in the country, with only... Wed, 23 Nov 2016 04:06:06 GMT Prices for first-time homes on the rise The latest figures from Rightmove have shown that first-time buyers are paying an average of £15,000 more for a starter home than 12 months previously.   There was an 8.2% rise in the price of homes with two bedrooms or less, which is double the average growth witnessed across the rest of... Wed, 23 Nov 2016 04:01:23 GMT Buy-to-let landlords call for change in Autumn Statement Private landlords believe that this week’s Autumn Statement provides the chancellor Philip Hammond with an opportunity to bolster activity in the buy-to-let market, which has slowed in recent months largely as a consequence of the previous chancellor’s tax changes. A wide range of topics have been talked about ahead of Wednesday’s... Wed, 23 Nov 2016 09:24:16 GMT House of Lords hears of concern over spread of Airbnb short lets Members of the House of Lords have heard about the concerns of a Baroness over landlords who choose not to let their properties to long-term tenants but instead prefer the more profitable and less controlled short-term lets via Airbnb.   Baroness Gardner of Parkes - herself a long-time landlord who has let... Wed, 23 Nov 2016 09:23:15 GMT Minimum energy efficiency standards – are you prepared? Ian Shipley provides an insight into how you can prepare for the new minimum energy efficiency standards (MEES) set to come into force. To help you understand what exactly is required and what exemptions are in place, a copy of the regulations can be found here.   The 2015 Energy Efficiency Regulations,... Wed, 23 Nov 2016 09:21:32 GMT UK only 15th best buy to let investment location in Europe The UK is only the 15th bst place in Europe to enjoy high returns from buy to let according to currency company World First - and it trails Bulgaria, Slovakia, Latvia, Poland and Romania amongst others.   The analysis shows the Republic of Ireland as the best location, with an average rental... Wed, 23 Nov 2016 09:20:44 GMT Council request to extend board ban rejected by government Brighton and Hove council has failed in its bid to win government backing to ban To Let boards.   The council sought government agreement to a ban on boards in part of the city - if agreed, agents would have had to win planning consent to put up a board - but... Wed, 23 Nov 2016 09:19:08 GMT Spanish property prices set to rise sharply Property prices in Spain will increase by an average of up to 6% per annum over the next three years, according to the head of Knight Frank in Spain.   The British head of Knight Frank in Spain, Humphrey White, told Spanish property portal Idealista that Spanish property prices will rise by... Wed, 23 Nov 2016 09:18:35 GMT Midnight deadline looms for landlords to register in Wales Landlords in Wales who have not yet signed up to Rent Smart Wales, designed to drive up the quality of rented accommodation in Wales, have less than 24 hours remaining to do so before the scheme becomes a mandatory requirement.   Rent Smart Wales, the new registration and licensing system in Wales,... Wed, 23 Nov 2016 09:17:50 GMT Buying bargains at property auctions Auctions are a great way to acquire property competitively, with a wide range of bargains often going under the hammer. But as any shrewd investor will know, there is more to buying property than simply turning up and making a bid.   Among the many attractions of buying property at auction is... Wed, 23 Nov 2016 09:15:39 GMT New selective licensing sessions for landlords Understanding property licensing is not an easy task and that is why two drop-in sessions will be held by Peterborough City Council to offer help to landlords with completing Selective Licensing applications by the 1 December – the deadline that all private landlords with residential properties in designated areas of... Wed, 23 Nov 2016 09:14:33 GMT House prices continue to rise – industry reacts to latest official figures The average cost of a property in the UK during September was £217,888 after prices edged up by 0.2% from August.   This is according to the latest official UK House Price Index, issued by the Land Registry.   Meanwhile, annual house price growth stood at 7.7% during September.    In England, the September data shows... Thu, 17 Nov 2016 11:25:35 GMT Property prices highest next to golf courses and racecourses New research carried out by online estate agent Hatched has revealed that golf is the best sport when it comes to house prices.    Properties near Britain's many courses have an average asking price of £419,446, making homes near to fairways and greens more costly than homes neighbouring any other type of... Thu, 17 Nov 2016 10:47:18 GMT South East dominates list of buy-to-let hotspots A quarterly ranking of buy-to-let locations is dominated by towns in the South East of England.   LendInvest's Buy-to-Let Index analyses locations based on average yields, capital gains, rental price growth and transaction volume growth.   The top-scoring town for rental price growth is Luton with an average rise of 9.58%. The Bedfordshire town... Thu, 17 Nov 2016 10:35:13 GMT Tenants being let down over broadband Some 83% of “millennial renters” wait more than a week for internet connection, new research by LivingCom has revealed.    With anger and frustration regarding broadband speeds steadily increasing, the findings showed that eight in ten young professionals see high-speed internet connection as an absolutely integral part of their rental property. A... Thu, 17 Nov 2016 10:09:16 GMT A quarter of buy to let investors will quit the PRS A survey of 1,000 buy to let investors by the Residential Landlords’ Association shows that around a quarter are saying they will quit the private rental sector because of tax changes.    The impact on investors’ financial viability is being caused by the restrictions on mortgage interest tax relief being introduced from... Wed, 16 Nov 2016 04:58:59 GMT Twitter debate to inform on S21 regulations Repair reporting specialist Fixflo and software provider VTUK are teaming up to provide what is believed to be the first Twitter debate on S21 notices.     The debate will be held tomorrow at 12 noon on on VTUK’s Twitter page - here - with agents and landlords encouraged to tweet questions,... Wed, 16 Nov 2016 04:55:39 GMT Now is a good time to invest in property as prices fall If you time your property investment right you could potentially save thousands of pounds on your acquisition, as reflected by historical house price trends.    When it comes to investing in property, you undoubtedly keep a keen eye on home prices, while also watching what other potential buyers are doing in order... Wed, 16 Nov 2016 04:54:57 GMT Rents: we're nearly at the affordability ceiling Average rents across the country have risen just three per cent in the past year and typical tenants are staying an unusually-long 28 months in their properties - indicating that the rental affordability ceiling might be close, according to HomeLet.   A tenant signing up to a new tenancy in October will... Wed, 16 Nov 2016 04:54:26 GMT Long-awaited Redfern Review into housing expected Labour’s long-awaited Redfern Review, set up a year ago after the party’s defeat in the general election, finally reports tomorrow.   Although it is a party-commissioned report, the review has been undertaken by a non-partisan group of highly-regarded independent experts such as Dame Kate Barker from Credit Suisse, Terrie Alafat the chief... Wed, 16 Nov 2016 04:53:47 GMT Spanish property sales figures show significant growth The latest residential property sales figures in Spain published by the National Institute of Statistics (INE) show that the number of transactions registered in September was 12% higher than last year at 30,976, maintaining a recovery that began in March 2014, according to the National Institute of Statistics (INE).   The latest... Wed, 16 Nov 2016 04:53:01 GMT It’s a tenant’s market in prime central London With significantly more properties to choose from, tenants are firmly in control when it comes to the private rented market in prime central London, as reflected by a sharp fall in rental prices so far this year.   Despite a 25% year-on-year rise in the volume of new tenancies agreed in prime... Wed, 16 Nov 2016 04:52:37 GMT Is this Britain's cheapest flat? A one-bedroom flat in Liverpool is one of the cheapest homes available to buy in the UK and it even comes with access to a communal garden.   This ground floor, one-bedroom apartment on Crossfield Close, L7, is offered for sale via auction at a guide price of just £1 – less... Wed, 16 Nov 2016 04:51:47 GMT Where is the UK's fastest property selling location? Properties in Essex are taking the quickest time to sell, according to new research.   Knight Frank's new tool myPropertyGenius has revealed that the county's CM18 postcode is England and Wales' fastest selling location.   The postcode – which covers Brays Grove, Latton Bush and Tye Green in Harlow – has an average selling... Wed, 09 Nov 2016 02:08:17 GMT Rising number of leasehold properties, research reveals An average of 15% of residential properties are leaseholds, according to research carried out by My Home Move of more than 20 million property transaction records in England and Wales.   This rises acutely to 53% and 46% in the leasehold hotspots of London and Manchester.    Generally speaking, leasehold properties take longer to... Wed, 09 Nov 2016 02:06:05 GMT Falling rents in London helps slow average rental growth The latest Landbay Rental Index has found that the average rent for a UK property increased by 0.05% in October, slowing from 0.09% in September.    Declining rents in London (down 0.11%) tempered otherwise resilient rental growth in the rest of England (0.15%) and the UK (0.14%).   However, the overall fall in rents... Wed, 09 Nov 2016 02:00:24 GMT Buyers concerned about purchasing property where someone has died Almost half (44%) of home buyers have reservations about purchasing a property where someone has died, according to a survey by   Some 8% of those who have reservations said a lower asking price would be enough to sway their decision.    The firm spoke to over 100 prospective buyers and found that... Wed, 09 Nov 2016 01:59:27 GMT Many landlords plan to add to their buy-to-let portfolio A significant number of buy-to-let landlords are planning to increase their property portfolios over the next few years, according to research by the Bank of Ireland.    The Bank’s UK Buy-to-Let Market Index found that 46% of landlords with two or more homes expect to increase the size of their portfolio in... Wed, 09 Nov 2016 10:05:31 GMT Vote of confidence for buy to let despite Brexit uncertainties A major survey has given a vote of confidence to buy to let despite the wave of fiscal, political and economic challenges facing the sector.   The latest Bank of Ireland buy to let market index reveals that 46 per cent of landlords with two or more properties expect to buy additional... Wed, 09 Nov 2016 10:05:10 GMT Transactions and prices are softening, warns Halifax House prices in the three months to late October were on average 5.2 per cent higher than over the same period of 2015 - but with no change over the most recent quarter, the Halifax warns that market activity and prices are both softening.    “Annual house price growth has nearly halved... Wed, 09 Nov 2016 10:04:19 GMT Cheaper to rent than buy in 84% of the UK Credit rating consultancy Experian says it is cheaper to rent than buy in 84 per cent of areas, while it's cheaper to buy than rent in 13 per cent of locations.   Of the 10 places that are in the 'cheaper to buy than rent' there are six Scottish locations, three north... Wed, 09 Nov 2016 10:02:10 GMT London’s super-prime rental market benefits from higher stamp duty costs London’s super-prime landlords appear to be benefitting from higher stamp duty costs and Brexit uncertainty, as reflected by a rise in super-prime letting transactions, according to a fresh report from Knight Frank.   Sellers in prime central London are struggling to attract purchasers against a backdrop of higher property taxes and weaker... Wed, 09 Nov 2016 10:01:42 GMT Change of strategy needed to tackle UK housing crisis Business leaders have called for a "step change" in housebuilding if the government is to meet its ambition of delivering one million new build homes by 2020.   The CBI said there should be an "ambitious new way of thinking", insisting that the crisis in the housing market is an "acute problem"... Wed, 09 Nov 2016 10:01:14 GMT Agents 'warn downsizers not to over-estimate property profit' Older homeowners are unrealistic about how much money they will raise from downsizing, and estate agents are warning them to manage their expectations.    That's the claim from an equity release referral service, Key Partnerships, in a survey it has conducted of estate agents across the country.    The exercise revealed a growing number... Wed, 09 Nov 2016 10:00:33 GMT Two weeks to go - landlords MUST register for Rent Smart Wales Only just over two weeks remain for letting agents and landlords operating in Wales to register with the Rent Smart Wales initiative - and ARLA is reminding members that they have to be licensed or else face a hefty fine.   Rent Smart Wales is the scheme operated by the Welsh Government... Wed, 09 Nov 2016 09:59:36 GMT