Buy-to-let tax changes: A perfect storm for landlords and tenants March 11, 2016 Upcoming tax changes have ignited debate about the role private landlords should play in meeting the UK’s housing needs. Focus has fallen on buy-to-let but, as the Institute for Fiscal Studies, among others, has noted, landlords are taxed much less favourably than home owners. Following last year’s Autumn Statement, which outlined plans for an additional [...]
House prices: Mortgage lending jumps in February as landlords make last sprint ahead of April stamp duty hike March 11, 2016 The rush to beat April's stamp duty surcharge on second homes continued to fuel record high levels of lending in February. House purchase approvals reached 72,799 in February, up 17.4 per cent on the same month last year and the second highest monthly figure since January 2014, according to figures released today by UK chartered surveyor e.surv. This was [...]
Demand for homes in London is falling as prices keep rocketing – except in these two boroughs April 6, 2016 It looks like rocketing house prices are having a demotivating effect on London home buyers, after new figures suggested demand for homes has fallen across many of the capital's most exclusive boroughs. The figures, by online estate agent Emoov, found demand for homes in Southwark fell 50 per cent between the final quarter of last year [...]
UK housing shortage hits mortgage lending in December January 21, 2016 Mortgage lending fell in December as a shortage of new homes, higher prices and recent government measures such as stamp duty reforms weighed on the property market. Figures from e.surv chartered surveyors today showed there were 68,218 house purchase approvals in December, down 3.1 per cent from 70,410 in November. E.surv director Richard Sexton, said. [...]
Foxtons reaps the rewards as house buyers scramble to complete ahead of stamp duty deadline – but how long will the party last? April 27, 2016 Foxton's has posted impressive-looking results for the quarter to the end of March. But shares slid as investors showed their nerves over new buy to let rules. The figures Total group revenues rose to £38.4m during the period, up 16.2 per cent from the same quarter last year. That was pushed up by a 28.5 per cent increase in property [...]
More than 12 offers on the table for Agent Provocateur January 29, 2017 At least a dozen offers have been made for troubled lingerie brand Agent Provocateur, according to sources familiar with the chain's owner. Private equity company 3i put the retailer up for sale this month following disappointing December trading. The firm is seeking an offer which exceeds the brand's £30m debt pile. Sources close to the [...]
Surge in mortgage approvals has no impact on house prices ahead of stamp duty surcharge – but the proportion of people renting rises again March 3, 2016 The impending stamp duty surcharge is distorting the housing market, with a "sharp" increase in the number of mortgage approvals in the first month of the year – the highest number since January 2014. But despite this, there has been just a slight uptick in house price growth, according to Nationwide, up 0.3 per cent in February [...]
Housing associations in £30bn mega-merger talks to build 100,000 London homes April 6, 2016 Three of the UK’s biggest housing associations are in talks to merger, with the view to build 100,000 new homes across London and the south east over the next decade. L&Q, The Hyde Group and East Thames said the proposed move will turn them into one of the country’s top four largest housebuilders with a [...]
UK house prices: Mortgage lending enjoys best first quarter in nine years despite March dip April 14, 2016 Mortgage lending enjoyed its best first quarter in nine years thanks to buy-to-let landlords rushing to beat April's stamp duty hike, according to new figures published this morning. An average of 71,710 house purchase loans were approved in the first three months of the year, the data from surveyors e.surv shows – making it the highest opening [...]
London house prices: Why Foxtons’ chief executive Nic Budden’s salary is jumping 19 per cent April 6, 2016 It's clearly paying to be in the London property market right now. Foxtons' chief executive Nic Budden's basic salary is to jump 19 per cent for the current financial year, up to £550,000 from £461,000 last year. It's an interesting move for the London-focused estate agent, coming as demand for homes in the capital falls, although there has [...]