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Housebuilding up by almost a quarter over last three months

Housebuilding is on the up, with the latest industry figures showing a 24 per cent increase on last year. The National House Building Council (NHBC) recorded 32,716 new homes between August and October, compared to 26,440 in the same period last year. Richard Tamayo, NHBC commercial director, said that this year is set to produce the largest number of new homes since 2007. ...

29th Nov 2013

Peterborough hospital to be site of 350 new homes

A former hospital in Peterborough is to be the site of 350 new homes and a primary school. Peterborough District hospital has been out of action for three years, but has been purchased by London-based developer Lands Improvement Holdings (LIH) for £7.44m. Local MP Stewart Jackson welcomed the news, adding that the sale will help boost the NHS trust's ailing ...

28th Nov 2013

Property news archive

Hefty £30m price tag on Battersea penthouses

Luxury penthouse apartments on the site of Battersea power station are to be sold for £30m, the project's Malaysian backers have announced. The price tag has concerned some commentators, who have questioned how it can align with London mayor Boris Johnson's pledge that all new homes in the capital should be advertised to Londoners first. Henry Pryor, a well ...

28th Nov 2013

Couples ignore break-up risk to buy homes

A third of couples are buying homes together as a means of proving their commitment, new research suggests. However many are glossing over the dangers if things go wrong in the relationship, with one in five prepared to jump straight in having been involved with their other half for less than a year. One in seven say that buying a house together is a "romantic" ...

27th Nov 2013

Labour mayoral hopefuls question mansion tax logic

A mansion tax could be seen as a "tax on London", admitted three of Labour's mayoral hopefuls. The policy, which is a key facet of shadow chancellor Ed Balls' funding plan, would see an additional charge on homes worth over £2m. However the consistency of the Labour party's message on the topic appears to have taken a blow, with Dame Tessa ...

26th Nov 2013

UK's most popular market towns revealed

House-hunters are happy to pay a £14,000 premium to live in an English market town, shelling out six per cent above average prices around the country. Market towns have boomed over the last decade, with house prices rising by £636 on average per month. Marc Page, mortgages director at Lloyds Bank who produced the figures, said that such communities are an ...

25th Nov 2013

Labour 'didn't do enough' on house building admits Balls

Labour failed to build enough homes during its time in office, admitted Ed Balls yesterday. The shadow chancellor, who held a cabinet position under Gordon Brown, said that the party had instead prioritised refurbishing existing council houses. House building reached its lowest level since the Second World War in the aftermath of the financial crisis, only beginning to pick ...

22nd Nov 2013

Mortgage lending at highest level since 2008

Gross mortgage lending has reached its highest level since October 2008, as the property market bounces back. The latest figures from the Council of Mortgage Lenders (CML) show £17.6bn of lending last month, just £1bn short of the 2008 total. Bob Pannell, the CML's chief economist, predicted that this upturn is just the start as lenders relax their criteria. ...

21st Nov 2013

Low interest rates prompt mortgage overpayment frenzy

Low interest rates are prompting many to overpay on their mortgage, according to industry figures. It is estimated that one in five mortgage holders are making an overpayment every month, as borrowers enjoy favourable lending conditions. Mortgage rates are at a historic low as a proportion of income, partially due to the 0.5 base interest rate set by the Bank of England. ...

20th Nov 2013

Scrap stamp duty on sub-£500k homes say MPs

Stamp duty is "inefficient" and should be abolished for all homes under £500,000, say a group of Conservative MPs. An estimated 94 per cent of homes sold in England are eligible for the tax on property buyers, but when stamp duty was first introduced it affected far fewer people as property prices were much lower. However runaway property price growth over ...

19th Nov 2013

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