London and UK house prices rise: First-time buyers face stiffest competition as average home in capital hits £615,115 July 16, 2015 London house prices climbed 7.8 per cent over the past 12 months, new figures show, with demand outstripping supply most heavily in the first-time buyer market. The average greater London house price is currently £615,115, according to data published today by Rightmove. Properties at the top end of the market have seen the biggest 12-month [...]
Surprise: Asking prices have jumped to new record highs of £308,151 across England and Wales May 16, 2016 In what seems now to be an ongoing trend, asking prices in England and Wales jumped to a new record high of £308,151 on average in May. The "eye-watering" increase is a rise of £1,118 on the previous month, property website Rightmove said in figures released today. The price uplift has come despite a flurry to [...]
The government’s high-profile Help to Buy scheme has come under fire because extra financial support cannot be used towards deposits August 20, 2016 A government scheme to support first-time buyers has been blasted by political rivals because a so-called "top-up" on savings cannot be used towards the deposit on a new home. Revealed in the pre-election 2015 Budget, the Help to Buy ISA provided a government boost to savings at a rate of 25 per cent. So a saver [...]
Prime central London house prices have fallen by 1.5 per cent year-on-year August 3, 2016 Prime central London house prices have fallen by 1.5 per cent year-on-year in July, according to estate agent Knight Frank. A report on home sales from the company showed Brexit has triggered sellers to make "overdue reductions" to the asking price of their properties. Knight Frank said: "It is too soon to say what impact Brexit will have on pricing [...]
High London house prices are not a bubble waiting to burst July 5, 2017 History is replete with examples of financial bubbles, from Dutch ‘Tulipmania’ in the 1630s and the South Sea bubble of 1720, through to the Wall Street Crash of 1929 and the dot com boom and bust at the turn of the twentieth century. Could London house prices be the next big bubble to burst? To [...]
Wanted: A bold government housing strategy that delivers for the young rather than the old December 6, 2016 If Brexit wasn’t dominating British politics, then one other issue would be: the lack of housing. If you know someone under 30, living in London and able to afford their first home, then your friend belongs to the country’s richest percentile. For most people, even for those on what used to be a decent median income, owning [...]
Home ownership has fallen to its lowest in 30 years across all major English cities – not just London August 2, 2016 Home ownership has fallen to levels last seen in the UK in 1986, a major new report has revealed – and it's not just in the capital where it's hitting hardest. The report, by think tank the Resolution Foundation, showed the proportion of Britons owning their own home has fallen eight percentage points since it peaked at [...]
Highest London house prices dip: Kensington and Chelsea, Camden and Richmond fall as bottom end gets boost from first-time buyers July 19, 2015 Some of the capital’s most expensive residential areas saw house prices drop sharply this month, according to data released today, with high demand supporting the lower end of the market. In Kensington and Chelsea, London’s most expensive borough to buy in, prices dropped 7.2 per cent from June to July, according to Rightmove. [...]
Focus On Herne Hill: House prices rise 12 per cent year-on-year in Brixton’s genteel neighbouring town October 21, 2016 Without a doubt Brixton’s greener neighbour, Herne Hill is also seen historically as Brixton’s more genteel neighbour. In the mid-19th century, this well-heeled south London suburb was home to mainly large, upper class “country” estates and revered members of high society – such as art critic John Ruskin – grew up there. These days, past [...]
New homes on sale in “mini-Manhattan” London City Island, marketed as the capital’s would-be culture hub September 1, 2016 London City Island, Leamouth Peninsula From £365,000 The final and tallest building in the London City Island development will go on sale on Saturday. The marketing suite on the Leamouth Peninsula site will throw a party with ice pops and a juice bar from 10am to 5pm to entice buyers to invest in studio to [...]