{"id":13392,"date":"2016-05-17T23:25:55","date_gmt":"2016-05-17T16:25:55","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=13392"},"modified":"2016-05-17T21:44:51","modified_gmt":"2016-05-17T14:44:51","slug":"london-house-prices-soar-and-rest-of-uk-follows-suit","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/london-house-prices-soar-and-rest-of-uk-follows-suit\/","title":{"rendered":"London house prices soar and rest of UK follows suit"},"content":{"rendered":"


\nUK house-price growth accelerated to the fastest pace in a year as stamp-duty changes prompted a surge in demand from landlords in the first quarter.Values rose an annual 9 per cent in March, up from 7.6 per cent the previous month, the office for national statistics said on Tuesday. That is the biggest increase since March 2015. In London, prices jumped 13 per cent, the most since December 2014.The upward momentum adds to evidence that investors rushed to buy properties before a tax increase took effect in April. The chancellor of the exchequer, or finance minister, George Osborne introduced a surcharge on second homes and buy-to-let properties amid fears landlords were exacerbating a lack of supply. The measures have skewed the housing market, while the United Kingdom’s upcoming referendum on EU membership is clouding the outlook further.”Prices were clearly supported by buy-to-let investors and second home buyers,” said Howard Archer, an economist at IHS in London. While prices may take a downward turn in the next few months, “high employment, decent purchasing power and low interest rates should underpin house-buyer interest once the referendum fog has disappeared”. he said.Separate figures from the Council of Mortgage Lenders showed that mortgage loans gained 28 per cent from a year earlier in March, while the number of buy-to-let mortgages more than tripled.Recent surveys have shown that house prices continued to rise at the start of this quarter. The property website operator Rightmove said that the demand surge in the first quarter has left a shortage of properties for sale, pushing out first-time buyers. Asking prices increased 0.4 per cent in May from April and grew 7.8 per cent on the year, it said on Monday.business@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…London house prices soar and rest of UK follows suit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

UK house-price growth accelerated to the fastest pace in a year as stamp-duty changes prompted...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-13392","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-3u0","jetpack-related-posts":[{"id":26149,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-london-home-sellers-get-message-and-rush-to-slash-prices\/","url_meta":{"origin":13392,"position":0},"title":"Luxury London home sellers get message and rush to slash prices","date":"September 14, 2016","format":false,"excerpt":"\r Sellers of luxury homes in London are lowering asking prices as the effects of the Brexit vote, political uncertainty and high taxes sink in amid sliding demand.The number of owners cutting prices for prime homes in the capital jumped 75 per cent in the 10 weeks following the June\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21879,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/prime-central-london-house-prices-tumble-by-most-in-seven-years-and-values-face-major-shock\/","url_meta":{"origin":13392,"position":1},"title":"Prime central London house prices tumble by most in seven years and values face 'major shock'","date":"August 3, 2016","format":false,"excerpt":"\r BloombergHome prices in London's Knightsbridge district dropped 7.3 per cent in the 12 months through July, the biggest annual decline in almost seven years, as Britain's vote to leave the European Union accelerated price drops caused by rising taxes.Values fell 1.5 per cent across central London's best districts, with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46659,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-uk-property-taxes-threaten-to-take-a-toll-on-investors-in-the-uae\/","url_meta":{"origin":13392,"position":2},"title":"New UK property taxes threaten to take a toll on investors in the UAE","date":"March 5, 2017","format":false,"excerpt":"\r Sweeping UK property tax changes being introduced next month could leave UAE investors out of pocket.From April 6, the UK government will put in place a new set of tax changes likely to make it more expensive for many international investors to rent out homes in England and Wales.Under\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46651,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-uk-property-taxes-threaten-to-take-a-toll-on-investors-in-uae\/","url_meta":{"origin":13392,"position":3},"title":"New UK property taxes threaten to take a toll on investors in UAE","date":"March 5, 2017","format":false,"excerpt":"\r Sweeping UK property tax changes being introduced next month could leave UAE investors out of pocket.From April 6, the UK government will put in place a new set of tax changes likely to make it more expensive for many international investors to rent out homes in England and Wales.Under\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14038,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chelsea-loses-glamour-for-wealthy-tenants-as-fitzrovia-and-mayfair-soar\/","url_meta":{"origin":13392,"position":4},"title":"Chelsea loses glamour for wealthy tenants as Fitzrovia and Mayfair soar","date":"May 23, 2016","format":false,"excerpt":"\r There are winners and losers in London's prime central location (PCL) rental market, according to a new report today from LCP, a UK prime residential investment adviser, with once-uber trendy Chelsea losing its allure while ultra-high end Mayfair has soared.But landlords may have to work harder to retain the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12196,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-decline-following-rush-to-beat-new-property-tax\/","url_meta":{"origin":13392,"position":5},"title":"UK house prices decline following rush to beat new property tax","date":"May 9, 2016","format":false,"excerpt":"\r UK house prices fell in April after a surge of rental investors rushing to beat a tax change bolstered the market earlier in the year, according to the Halifax.Average values dropped 0.8 per cent from March, the mortgage lender said on Monday. That reduced the annual gain to 7.8\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/13392"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=13392"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/13392\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=13392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=13392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=13392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}