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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

Prime country house prices recording strong growth

Growth in prime country house prices is outpacing other property types in the UK. There was a 1.9 per cent rise in this housing type in the first three months of the year, while the figure was also 4.5 per cent higher on an annual basis, according to Knight Frank. It represents the fifth straight quarter that prices have risen and the strongest quarterly growth in four ...

11th Apr 2014

Property news archive

Mortgage lending growth strong in February

There was a 33 per cent year-on-year increase in mortgage lending in February, according to the latest Council of Mortgage Lenders (CML) figures. New data confirms the strong growth seen in the market when compared with last year as more people try to get onto the property ladder.  The monthly dip in lending in February was primarily due to seasonal factors and is not ...

10th Apr 2014

Buy-to-let lending availability 'on the up'

Landlords are viewing buy-to-let finance as increasingly available thanks to the improved liquidity in the market, new research suggests. Some 44 per cent of private landlords agreed with this sentiment in the first three months of 2014, according to research by Paragon Mortgages. It represents a two per cent quarter-on-quarter increase and is the highest level reached ...

10th Apr 2014

Brits 'favour new builds over projects'

Less than one-fifth of house hunters are willing to take on a property that requires a lot of work.  People are not keen to bite off more than they can chew concerning refurbishments, with 30 per cent solely focused on buying new builds, according to research by Gocompare.com. Despite the vast majority of respondents admitting they prefer older properties (63 per ...

9th Apr 2014

£300m fund to drive further housebuilding

Councils in England will be able to access additional funding to build more affordable homes. Some £300 million of extra borrowing is being made available as the government targets the construction of a further 10,000 properties.  The housing revenue account borrowing cap is going to be increased over two years from 2015 and the move should address some of the ...

8th Apr 2014

Serious rent arrears problems fall by 35%

The number of tenants with severe rent arrears problems has fallen by over a third in the past year.  Renters are making significant progress when it comes to bringing their arrears under control, new figures from LSL Property Services show.  By the end of the first quarter of 2014, 68,000 were more than two months behind on their rent, down from 105,000 in the ...

7th Apr 2014

Vigilance needed over house prices, Chancellor warns

The government and regulators need to be vigilant over house price rises to make sure they do not get out of control, according to Chancellor George Osborne. Fears are growing that a bubble could develop as the typical cost of a property continues to increase sharply - Halifax said it was £178,249 in March. Mr Osborne told the Treasury select committee that both the ...

4th Apr 2014

Home moves 'driven by lifestyle factors'

Lifestyle reasons are fuelling the majority of home moves, according to new research. More than 50 per cent of people questioned as part of Strutt & Parker's Housing Futures survey said they want to relocate in order to have a better lifestyle.  Access to shops and amenities (35 per cent), being close to friends and family (32 per cent) and reducing their ...

3rd Apr 2014

House price growth steadies in March

House price growth levelled off slightly in March, in a move that may calm fears over a property bubble.  The typical cost of a property increased by 0.4 per cent from February's total to reach £180,264, according to the latest Nationwide House Price Index.  This represents a year-on-year rise of 9.5 per cent, although prices are still around three per ...

2nd Apr 2014

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