The Most Affordable Rents In Great Britain

An analysis from Zoopla has reported trends in the affordability of private renting across the UK since 2007. The study is focused on working households where almost 75% of private renters work full or part-time and tracks the average rent for a 1-3 bed property over time, which is expressed as a percentage of average weekly net earnings for a single full-time worker. Rents have grown the most in the East of England (23%) and the West Midlands (20%) since 2007. London and the South East, however, have seen the highest absolute average rents, with both registering rental growth of 18% since 2007 – although growth has weakened in the last two years. Read more on the propertyinvestor today website.

https://www.propertyinvestortoday.co.uk/breaking-news/2019/4/the-most-affordable-rents-in-great-britain-revealed

No End In Sight To UK’s Housing Shortage

The UK’s housing market showed further signs of weakness in July, as the number of property sales fell as uncertainty and a shortage of supply kept potential purchasers at bay. The number of properties available to buy on agents’ books decreased to just 35 last month - the lowest amount recorded for July since National Association of Estate Agents (NAEA Propertymark) records began 15 years ago. With fewer homes to choose from, there was also a dip in the number of house buyers registered per member branch in March; agents had an average of 347 prospective buyers on their books compared to 384 in June. Read more on Property Investor Today.

Number Of BTL Landlords Registering To Buy Property Is Down 30%

There has been a sharp decline in the number of buy-to-let property acquisitions, following the government’s decision to introduce the 3% stamp duty surcharge and phase out mortgage interest relief, fresh research shows. The latest data exposes the scale of the decline in buy-to-let property purchases by revealing that the number of buy-to-let investors registering to buy properties is down 30% year-on-year. And while there has been some recovery since the damaging introduction of a stamp duty surcharge last April, there is still a long way to go until the property market is back to full health. Read more on the Property Investor Today website.

SDLT Reform Has ‘Shattered The Property Market’

The government’s decision to introduce stamp duty land tax (SDLT) reforms 12 months ago has had an adverse impact on the overall housing market across England and Wales, fresh research shows. Analysis of data from Land Registry and Zoopla reveals that the number of homes changing hands has fallen by almost a fifth - 19% - across England and Wales and by as much as 35% in London, as the government’s 3% stamp duty surcharge on second homes deters many investors from buying property. The most significant slowdown in activity was at the top end of the market, with the vast majority of listed properties valued at more than £500,000 remaining unsold. Read more on Property Investor Today.

Residential Property Sales Drop Ahead Of General Election

The number of residential property sales has fallen by 20% as many prospective purchasers adopt a ‘wait and see’ approach ahead of the general election. Each branch of estate agents agreed sales on eight properties on average in April, down from 10 in March, according to the latest figures published by the National Association of Estate Agents (NAEA Propertymark). The trade body found that there were just 36 properties available to buy per branch in April, down from 39 properties in March. But demand also fell, with the number of buyers registered with each branch reaching 381 in April, which was below the 425 recorded in January and February, and 397 in March. Read more on Property Investor Today.

Lack Of Property For Sale In The UK

April is traditionally a busy time for the UK housing market, but fewer homeowners put their properties up for sale last month, the latest UK Property Supply Index from HouseSimple shows. The online estate agent says that the number of new UK property listings dropped by 4% in April from the previous month. The firm suggests that the cold weather and political uncertainty, caused by the triggering of Article 50 and Theresa May’s decision to call a snap general election, are the main causes for the decline in the number of homes put up for sale, with Runcorn (-33.9%), Doncaster (-31.1%) and Woking (-28.6%) suffering the biggest supply drought, according to the research. Read more on the Property Investor Today website.

Irresponsible Lending In The UK Could Lead To Return Of ‘Negative Equity’

TSB has reduced mortgage lending to first-time buyers, especially in London, amid growing concerns that many homeowners without significant equity in their homes could soon find themselves in ‘negative equity’ as a result of falling house prices, particularly in the capital. In what may be an eerie echo of the start of the financial crisis, TSB’s chief executive Paul Pester has warned that many lenders in the UK are being reckless by providing property buyers with cheap loans that they may not be able to afford, especially when interest rates eventually rise, at a time when home prices are starting to look increasingly vulnerable. UK house prices fell for the second month in a row during April, according to the Nationwide. Read more on Property Investor Today.

Confidence In UK Housing Market Remains Strong

The UK housing market remains remarkably solid, as reflected by the 4.9% increase in the volume of residential property transactions between December 2016 and January 2017, according to the latest HMRC data. The seasonally adjusted figure for the month is 0.3% higher compared with the corresponding month last year. The increase between December and January marks the fourth consecutive month of increases, and shows a pick-up from the 0.2% rise seen between November and December 2016. Read more on the Property Investor Today website.