Property

By Bea Patel, TLE Property Editor and Director of Shop for an Agent The spiralling cost of home ownership in the UK has continued to see many priced out of the market, with those fortunate enough drawing on the bank of mum and dad as the only option in getting that first foot on the ladder. However, research by eMoov found that it isn’t just those at the start of the property ladder struggling to get by in the current...

By Bea Patel, TLE Property Editor and Director of Shop for an Agent New research reveals areas who voted for the UK to leave the EU have seen a positive effect on their local property market. But areas that voted ‘Remain’ have seen a significant drop in activity. The figures demonstrate the ‘psychology of Brexit’ and its impact on property market confidence for the first time. The research conducted by haart estate agents looked at registrations, listings and sales data...

By Bea Patel, TLE Property Editor and Director of Shop for an Agent On 4 August 2016, the Bank of England (BoE) cut interest rates from 0.5 per cent to 0.25 per cent after a record seven years. The record low cut comes as an attempt to offset the threat of a post-Brexit vote recession. When Britain voted to leave the EU, buy-to-let appeared to be an early casualty. Investors held back due to the uncertainty of post-Brexit or its...

Sellers’ Market Following the recent news that property sales in London are up almost 40%, it would appear that now is as good a time as many to cash out of the big city while you can. With further Interest rate cuts by the Bank of England on the horizon (meaning more buyers buoyed by cheap mortgages to sell to) there is, if not already, a captive market desperate for London properties. So sought after is London as a place...

By Bea Patel, TLE Property Editor and Director of Shop for an Agent The Mayor of London, Sadiq Khan, has approved plans for the first major housing development at the Old Oak regeneration site in West London. The Oaklands development will see 605 new homes built, together with a nursery, health centre and commercial space. A target of 50 per cent affordable housing has been agreed for the development, following an intervention by the Mayor to boost the number of...

By Bea Patel, TLE Property Editor and Director of Shop for an Agent The Bank of England has cut interest rates from 0.5 per cent to 0.25 per cent after a record seven years. The cut comes as an attempt to offset the threat of a post Brexit vote recession. Many homeowners will immediately benefit from reduced monthly mortgage repayments of the back of this cut, but this applies to borrowers with tracker mortgages, whose rate is linked to the...

By Bea Patel, TLE Property Editor and Director of Shop for an Agent 18 million people could currently be living with leaks at home. A study by HomeServe Labs revealed that 19.1 per cent of UK adults currently have a dripping tap at home, and 8.5 per cent are stuck with leaky toilets. The research also revealed 76.9 per cent have experienced a leak at home before. 37 per cent currently report having a leak at home, which rises to...

The gap between property prices in England and Wales and London has closed significantly according to a new data set released by Land Registry in conjunction with the Office of National Statistics (ONS). The average price of property in England and Wales reached £221,832 in May, now standing at almost half the price of Greater London (£472,163). This compares to previously released Land Registry data from March when property in London was three times more expensive than the rest of...

By Bea Patel, TLE Property Editor and Director of Shop for an Agent Confidence among sellers has been dampened by the outcome of the Brexit vote. Figures published by home.co.uk show London prices, which were already looking the most overvalued, have been hit the hardest, falling 1.1 per cent in one month (around £6K less for the average home in the region). The average house price in the South East also slipped 0.2 per cent during the last month, but...