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House price rise 'to be cooled by market conditions'

House prices in the UK will rise by 7.4 per cent in 2014 as cautious lenders and tighter borrowing conditions cool the market. This month sees the introduction of the Mortgage Market Review and this measure is expected to prevent the creation of a property bubble similar to the one experienced during the economic crash, the EY ITEM Club stated in a new report.  It has ...

14th Apr 2014

London house price rises 'will drive out talent'

Young talent may end up leaving London due to the ongoing house price rises, Prince Charles has stated. The royal was speaking as part of the Housing London Symposium and he pointed to National Housing Federation data that suggests there could be a 40 per cent rise in house prices in the capital in the next six years. "This isn't sustainable and risks driving away ...

27th Mar 2014

Home values news archive

63% don't see home moves happening in next 12 months

Nearly two-thirds of Britons considering a move to a new house do not think it will happen in the next 12 months. The costs associated with buying and moving is the main barrier, according to Gocompare.com, and so 21 per cent are concerned they will never be able to get onto the property ladder as a result.  People have typically been mulling over their plans for 3.6 ...

25th Mar 2014

Scottish house prices record biggest increase for 50 months

Average house prices in Scotland rose by 3.9 per cent year-on-year in January 2014. The typical property in the country now costs £160,270, according to data from LSL Property Services, with January representing the largest monthly increase for 50 months. It demonstrates the positive sentiment in the housing market at present, with buyers keen to take advantage of ...

20th Mar 2014

Homeowners pay £124 less than renters each month

Homeowners are £124 better off a month compared to renters, according to latest reports. In the past four years the cost of renting a home has increased by 18 per cent, research by Halifax has revealed. Average monthly costs for a property stood at £645 in December 2013, well below the typical figure of £769 for a bought house of similar standing. ...

18th Mar 2014

Four-fifths of UK cities see home affordability rise since 2009

Home affordability has improved in more than four out of five UK cities over the past five years, although this growth has been checked in the past 12 months.  The average cost of a property in the country now stands at £184,215, which represents 5.8 times gross annual average earnings, according to the Lloyds Bank Affordable Cities Review. There has been a ...

11th Mar 2014

Stamp duty thresholds 'have to be modernised'

Stamp duty thresholds should be altered to make the property market fairer, a national body has stated. There are a dearth of properties on sale for between £250,000 and £275,000 because buyers are worried about the additional costs associated with such a move, according to the Royal Institution of Chartered Surveyors (Rics). Under the current system, people who ...

10th Mar 2014

House prices increase at fastest rate since 2007

House prices increased by their strongest annual rate since 2007 in February as consumers continue to take advantage of cheap mortgage offers. In the three months to February 2014, property prices rose by 2.1 per cent when compared with the preceding three-month period, according to figures from Halifax.  The 2.4 per cent month-on-month hike in February represents the ...

7th Mar 2014

House prices rise 9.4% in February as market strength grows

House prices in the UK were 9.4 per cent higher in February than a year ago as the sector goes from strength to strength, according to Nationwide.  It represents the strongest rate of annual growth since May 2010 and means house prices are now only three per cent behind their 2007 peak.  The average price of a property in the country now stands at £177,846, ...

28th Feb 2014

First-time buyers 'driving housing recovery'

Lending to first-time buyers increased in all parts of the UK during the final quarter of 2013 as this group continues to drive the market's recovery.  London led the way, as 13,400 loans were advanced in the three-month period and this represented a 33 per cent year-on-year increase, according to figures from the Council of Mortgage Lenders (CML).  People ...

27th Feb 2014

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