Property News

Source : telegraph.co.uk Read more…Bank of England ‘will not hesitate’ to raise interest rates as pound plummets – live updates

Experts say ditching concrete and creating mini wetlands could help water systems cope better with effects of extreme weatherThis year has seen one of the driest summers on record, with most of the country still officially in drought. Millions of people in England are under hosepipe bans because of water shortages, and reservoir and […]

Extending Scotland’s rent freeze would help millions of renters like me who are struggling to pay their billsJazmyn Sadri is a member of the London Renters UnionAt the height of the pandemic, I received a letter from the letting agent that managed the flat I was renting. I opened it, thinking it would be […]

Source : telegraph.co.uk Read more…Kwarteng warns Bank of England over blaming Ukraine war for inflation

The government schemes have pros and cons, and one closes to new applicants soonShared ownership is one of the government assistance schemes for those priced out of the open market. The other main one is help to buy. But if you are interested in the latter, get your skates on, as the scheme is […]

Source : telegraph.co.uk Read more…Bank of England to lend energy industry £40bn to deal with surging prices

Sale of peat-based compost for use on private gardens and allotments to be outlawed within 18 monthsSales of peat for use on private gardens and allotments will be banned in England from 2024, the government has announced.Environmental campaigners have long called for stricter laws to restore peatlands. Continue reading… Source : theguardian.com Read […]

Source : telegraph.co.uk Read more…Nicola Sturgeon’s borrowing bill to be lower than England’s for first time in decade

I am struggling to find advice for how my relocation will affect tax on my rented property bought with gifted moneyQ I have a problem over what to do with a property in south-east England, which I bought outright for £190,000 at the end of 2014. Almost all the money for the purchase was […]

Source : telegraph.co.uk Read more…Nine in 10 Bank of England staff handed bonuses as inflation soars

From first-time home buyers to credit card users, we look at how your finances may be affectedThe Bank of England has voted to raise interest rates by 0.5 percentage points to 1.75% as the UK battles to prevent inflation running out of control. We look at what that means for your finances. Continue reading… […]

Source : telegraph.co.uk Read more…Longest recession since 2008 and inflation to hit 13pc, warns Bank of England

Test required potential homebuyers to prove they could afford three-percentage-point rise in interest ratesThousands of potential homebuyers may find it easier to get on to the property ladder after a key mortgage affordability test was scrapped by the Bank of England.The central bank has said the change – taking effect from 1 August – […]

Source : telegraph.co.uk Read more…Bank of England rips up mortgage affordability rules despite rate rises

Source : telegraph.co.uk Read more…Bank of England warns inflation will hit 11pc – but still votes against bigger interest rate rise

Source : telegraph.co.uk Read more…Bank of England accused of ‘bottling’ interest rates after eighth new inflation forecast

The knock-on effects on mortgages, savings, annuities, house prices and rents of the interest rate increase The Bank of England has voted to raise interest rates by 0.25 percentage points to 1.25% as the UK grapples with high inflation. We look at what that means for your finances. Continue reading… Source : theguardian.com […]

Private-rentals white paper includes clampdown on unfit homes and outlaw of landlord bans on ‘DSS tenants’Measures to tackle unscrupulous private landlords who evict tenants without giving a reason or who let unsafe homes, will be introduced under government proposals aimed at giving a better deal for millions of renters in England.The centrepiece of the […]

Private rentals white paper also includes clampdown on unfit homes and plan to outlaw landlord bans on ‘DSS tenants’Measures to tackle unscrupulous private landlords who evict tenants without giving a reason or who let unsafe homes, will be introduced under government proposals aimed at giving a better deal for millions of renters in England.The […]

Source : telegraph.co.uk Read more…Confidence in the Bank of England sinks to all-time low

Calls for ‘ethical consideration’ of short-term lets as 3,000 second homes registered in south-west in pandemicTourists heading to holiday homes in the south-west of England are being urged to check before they travel if their rental will worsen the area’s affordable housing crisis.The call for “ethical consideration” of the potential negative impact of short-term […]

More than 500 larvae will be released in Hampshire and Cornwall as part of a four-year project to revive the declining speciesThey once lit up summer nights, people read by their luminescence and they’ve been celebrated by everyone from William Shakespeare to Crowfoot, a 19th-century North American chief.But glowworms have had their lights dimmed […]

Shelter says a private tenant is handed notice every seven minutes despite government promise to ban practice in April 2019More than 200,000 private renters have been served eviction notices without doing anything wrong in the three years since the government first promised to ban the practice, housing campaigners have claimed.Every seven minutes a tenant […]

Serious health and safety risks costing NHS £340m a year, public accounts committee report findsMore than one in eight privately rented homes in England pose a serious threat to people’s health and safety, costing the NHS about £340m a year, according to a report from a committee of MPs.It also uncovered evidence of unlawful […]

In England last year a home cost an average of 9.1 times earnings – up from 7.9 in 2020House price rises outstripped wage growth in more than 90% of England and Wales last year, according to official data that prompted talk of a possible full-blown “affordability crisis”.The Office for National Statistics (ONS) said house […]

Research underscores the growing importance for owners of rental yields over capital growth Source : ft.com Read more…North-east England outpaces London in buy-to-let returns

Exclusive: figures show Covid has not deterred people from moving to Manchester and other city centresCoronavirus – latest updatesSee all our coronavirus coverageWhen Covid hit in 2020, it was a nerve-racking time for many urban developers. As gardens – or the countryside – seemed ever more important for locked-down house hunters, some wondered if […]

Lords claim flagship £29bn policy would have been better spent on social housing Source : ft.com Read more…Help to Buy has pushed up house prices in England, says report

Workspace declined 2% last year as construction stalled and developers adapted to flexible working Source : ft.com Read more…England’s office space shrinks by millions of square feet

Charity estimates 55,000 ordered to leave privately rented homes in past 3 months Source : ft.com Read more…200,000 children in England face winter eviction, warns Shelter

The average house price on Tite Street in Chelsea is £28.9m, says mortgage lender HalifaxIt was once home to literary and artistic greats including Oscar Wilde, but now Tite Street in west London has a new claim to fame after Halifax named it the most expensive street in England and Wales, with an average […]

Resolution Foundation says biggest rise for decade of 4.1% will coincide with higher taxes, rising inflation and soaring energy billsAlmost 5 million families in social housing in England are facing the biggest rent hike for a decade from April amid a mounting cost of living squeeze, according to a report.The Resolution Foundation thinktank said […]

Peatland vital carbon store but campaigners say lack of immediate action makes plan a ‘damp squib’The sale of peat to gardeners in England and Wales is to be banned by 2024 under plans published by the government on Saturday. Ministers said they also aimed to end peat use in the professional horticulture sector by […]

Bank wants to scrap rule that borrowers must be able to afford rate rise of three percentage pointsThe Bank of England has announced plans to ease mortgage lending rules in a move that could help thousands of first-time buyers get on to the property ladder.The central bank said it wanted to remove a requirement […]

Residents of East Asia and tax havens lead flood of buyers over past decade Source : ft.com Read more…Foreign ownership of homes in England and Wales triples

Lights switched on and off, and the temperature would suddenly changeIn 1999, I was in my mid-40s and had just escaped from my stressful and joyless career as a management consultant. I needed a project. I loved small period buildings and decided to throw my energy into restoring one; I started combing through auction […]

Number of families renting privately has doubled in two decades but many are living in dangerous homesPressure is growing on the government to introduce a registration scheme to help councils target rogue landlords renting out thousands of dangerous homes to families.A white paper spelling out the government’s plans for raising standards in the private […]

Mortgage lenders continuing to offer lower interest rates amid price war sparked by stamp duty tax cutA mortgage price war that has brought the cost of monthly payments down over the last year is expected to continue until at least next month despite warnings that lenders’ profit margins could be squeezed by a hike […]

Source : ft.com Read more…Demand for private rented housing in England and Wales hits 5-year high

Scope of existing plans to reform leasehold contracts should be expanded Source : ft.com Read more…Fixing England’s home service charge scandal

Sales, new inquires and price expectations have softened, according to monthly survey Source : ft.com Read more…Housing market in England and Wales loses momentum

Many flats left effectively unsellable as government struggles with aftermath of Grenfell disaster Source : ft.com Read more…England’s cladding crisis leaves 2m as ‘mortgage prisoners’ in own homes

Builder Vistry Group reports strong demand but warns market could slow next year Source : ft.com Read more…House sales surge in England despite threat of recession

From January 2021, any of Hong Kong’s 2.9 million BN(O) passport holders – and their immediate dependants – will be able to apply for a special visa which gives them the opportunity to live in the UK for five years and a path to permanent residency.The announcement has sent BN(O) passport holders scrambling for […]

Critics fear proposed reforms will fail to help those most in need Source : ft.com Read more…England planning shake-up provides few affordable housing guarantees

Better foundations are needed for a new Bath, Belgravia and Bournville  Source : ft.com Read more…A flawed plan to solve England’s housing shortage

There was good news this week for 4.3 million homeowners. But it’s not time to celebrate yetA report by the Law Commission published this week should have made uplifting reading for the 4.3 million homeowners in England and Wales trapped in our feudal leasehold system. It appeared to (finally) spell the end to many […]

Fears stamp duty holiday could be swallowed up by competitive house biddingVirtual viewings, no open-house tours, and getting out of the city are the order of the day for would-be homebuyers spurred to action by this week’s announcement of a stamp duty holiday on the first £500,000 paid for a new homeEstate agents have […]

Median rent was highest in London – at £1,425 a month – according to ONS data Coronavirus – latest updatesSee all our coronavirus coverage Private-sector rents in England hit a record high of £700 a month just as the country was heading into coronavirus lockdown, according to figures from the Office for National Statistics […]

More and more lenders halt such deals despite the English housing market reopening First-time buyers in England are being locked out of the recently reopened housing market because there are hardly any mortgages available to those who can only manage a 10% deposit, it emerged this week.Mortgage lenders have been busy pulling home loan […]

Ministers seek to cut red tape to accelerate approval process for developers Source : ft.com Read more…England’s planning system set for shake-up

We would like to hear from people who are relocating outside cities due to the coronavirus pandemicWith estate agents in England allowed to conduct viewings via video or appointments where people are physical distancing, some have noticed an increase in people wanting to move out of cities amid a rise in home working.Whether you […]

Online agent says pent-up demand is firming up asking prices but data shows London market has failed to reboundProperty sales in most of England have swiftly rebounded to the same levels they were just before the lockdown, although London lags behind the rest of the country and markets in Scotland and Wales remain closed, […]

The new laws have become increasingly complex as restrictions start to ease Coronavirus – latest updatesSee all our coronavirus coverageOff to play tennis or purchase fresh dahlias? Changes to emergency health protection regulations have significantly altered the laws restricting our ability to leave home and travel during the coronavirus crisis.Although more permissive than the […]

Customers flock to buy plants after forced lockdown as owners worry closures came at worst time of year Coronavirus – latest updatesSee all our coronavirus coverageSpaced 2 metres apart, many wearing masks and gloves, customers were queueing outside Chessington garden centre in Surrey at 8am on Wednesday morning, an hour before the doors were […]

More than 400,000 UK transactions have been on hold since shutdown in March Source : ft.com Read more…Property market in England starts slow return to work

Estate agents back to work on Wednesday as new laws permit key house-hunting activitiesCoronavirus – latest updatesSee all our coronavirus coverageThe housing market in England has been given the green light to reopen after seven weeks of lockdown, with renters and buyers allowed to move home and view properties as long as they observe […]

Bills could fall by 20% if system mirrored house price growth over past 30 years, says IFSMore than 10m households would benefit from lower council tax bills if the government reformed the “arbitrary and unfair” annual property charge to reflect the growing divide between London and the south-east and the rest of England.The Institute […]

Generation Rent says majority believe landlords should foot bill for making tenants movePrivate renters in England are losing out on about £70m a year when landlords kick them out as missed time at work, cleaning bills and moving costs stack up to £1,400 each on average, housing campaigners say.An estimated 146,000 households have been […]

Research shows people in need outnumber those on social waiting lists by two to oneMore than 8 million people, equivalent to the population of London, are living in unsuitable housing in England, according to analysis suggesting the scale of the housing crisis could be far worse than officially estimated.Research by Heriot-Watt University in Edinburgh […]