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Stamp duty cuts are working as first-time buyers snap up properties

The number of mortgaged first-time buyers in the UK rose to 365,000 last year, the highest levels seen in more than a decade, with one agent registering a 16% surge in January. According to the latest figures from UK Finance, 2017 saw a 7.4% increase...

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Most landlords and tenants would prefer to cut out the middle man

From next year, letting agents could see a dent to their profits when the government bans tenant fees, and a new survey has found that most landlords and tenants would prefer to remove agents from the process altogether. When asked whether they would...

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Builders Expect New Home Sales To Grow

If anyone knows the new home market, it’s builders. After all, their business depends on demand for newly built homes. That’s why the National Association of Home Builders surveys them monthly to gauge their perception of the market today and ove...

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This week: Property millionaires, doubling rents and Bitcoin volatility

This week it has emerged that there are more people with property assets worth in excess of £1m than ever before as house prices continue their ascent, while Generation Rent are forking out double the amount they were 10 years ago. The mortgage mark...

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Manchester named one of Europe’s fastest growing cities by Deloitte

More than 11,000 new homes are under construction in Manchester across 41 separate schemes, as investor confidence, a strong business community and the arrival of growing numbers of young professionals all add to the city’s international appeal...

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6 Benefits of Upgrading Your Home with Solar Panels

Renewable sources form a booming new energy frontier that attracts more and more homeowners. There are many incentives to go green and environmental cause is just one of them. Namely, apart from saving the planet, many people implement photovoltaic p...

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Australia tightens lending criteria in favour of reliable borrowers

Property prices have begun to drop in all of the main Australian cities, including Sydney, causing banks to tighten up on lending. The Commonwealth Bank of Australia reduced its exposure to apartment developers by more than AU$1bn (£546m) last year,...

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Modular homes and extensions could boost the UK’s housing stock

Some major developers are investing in modular home factories as more modern methods of construction begin to gain favour across the country. Faster, cheaper and eco-friendly, could we be about to see prefab homes making a comeback? For most people i...

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Stock Market Volatility Shakes Mortgage Demand

According to the Mortgage Bankers Association’s Weekly Applications Survey, demand for mortgage applications fell 4.1 percent last week from the week before. But though there was another increase in average mortgage rates, the decline was not seen ...

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How Birmingham will be transformed for the Commonwealth Games 2022

Birmingham has been chosen as the host city for the 2022 Commonwealth Games, with plans already underway for a vast new development bringing 3,000 new homes to the area after the event. For the first time since Manchester hosted the Games 16 years ag...

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What are ‘smart cities’ and will they change the UK in 2018?

As technology progresses and proptech sweeps the market, efficient, sustainable and prosperous smart cities are the next big buzz word at the top of many countries’ agendas. London has been named one of the top three smart cities in the world, alon...

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Focus on fixed rate products drives down availability of tracker mortgages

According to the Moneyfacts UK Mortgage Trends Treasury Report, tracker rate products have fallen to their lowest number since September 2009. In July 2017, 296 products were available to borrowers; today that number is only 268. It seems that lender...

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UK house prices were up £12,000 last year after steady annual climb

The latest set of house price figures, this time from the Office for National Statistics, has revealed a 5.2% annual rise in the country’s average house prices. The average home in the UK now costs £227,000 according to the most recent Land Regist...

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Bedroom Communities Top List Of Safest Cities

A “bedroom community” refers to a suburb outside a major metropolis where the majority of residents commute to the city for work. These town have a number of characteristics that identify them but, according to new research from NeighborhoodScout...

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Bitcoin or property: Where should you be investing your money?

With news of some investors becoming Bitcoin millionaires and even billionaires, economists are warning that the volatile cryptocurrency amounts to little more than “fool’s gold”. For long-term, secure investments, property is still the market ...

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Top opportunities for commercial landlords in Manchester in 2018

The Manchester office market went from strength to strength last year, and the current limited supply of Grade A office space means the sector is ripe for the picking in the northern city. Last year ended on a high for Manchester’s office space mar...

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Overseas registered companies own £33.9bn of London property

It has emerged that of the 97,000 properties in England and Wales held by firms registered abroad, almost half of these are located in London. A vast amount of the UK’s foreign-owned properties can be found in the capital, amounting to £33.9bn, ac...

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Unique new development lets you buy a plot and build your own home

The UK’s largest self-build community, Graven Hill in Oxfordshire, is well underway as people with Grand Designs dreams snap up ready-made plots and get building. On a vast area of disused Ministry of Defence land in the town of Bicester, the local...

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55+ Homeowners Account For 67% Of Home Equity

Equity is among the main arguments in favor of homeownership. After all, as you pay your mortgage each month, you are, in essence, putting away money that you will be able to draw from should you ever sell your house or take out a home equity loan. I...

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Could the latest proptech lending platforms reshape the housing market?

A new form of ‘private Help to Buy’ could be on the cards to help first-time buyers gather their deposits using innovative technology-based platforms, as proptech advancements continue to transform the sector. First-time buyers struggling to save...

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Economists predict increase in mortgage rates as cheap funding ends

Borrowers could be looking at increased mortgage rates, as the government withdraws a source a cheap borrowing for the banks at the end of February this year. In August 2016, the Bank of England reduced the base rate to the historic low of 0.25% and ...

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How families can help their offspring get onto the property ladder

Special mortgages, inheritance tax rule changes and repayable deposits are some of the tools parents and other close family members could use to help the next generation buy a home. As less and less young people are getting onto the property ladder, ...

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Rents have doubled in the past 10 years as housing market focus shifts

Last year UK tenants stumped up over £50bn in rent, which is more than double the total amount paid 10 years ago, while homeowner mortgage payments have fallen. London, the Midlands and the south-west of England have seen the biggest rent rises over...

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Single Home Buyers Face Added Challenges

Without the benefit of two incomes, single home buyers face some added challenges when looking to buy a house. For one, it takes longer to save for a down payment. In fact, according to a new analysis, married or partnered couples can save a 20 perce...

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Home loan rates reach highest level in over a year

Home loan rates have moved to their highest level in over a year, a new report shows. The typical interest rate for a fixed rate on a 30-year loan was 4.32 percent this week, an expansion of 0.15 rate point from a year back, revealed by Freddie Mac o...

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Jump in property millionaires in UK highlights north-south divide

There are now more than 768,000 “property millionaires” in the UK, with the vast majority of them concentrated in London and the south-east… The number of properties in Britain valued at £1m or more has soared by 22.95% since the last set of a...

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Investing in buy-to-let with the tenant in place could reduce void periods

Investing in a property with a tenant in situ means buyers can be earning their rental income from day one, and sellers can keep making a profit right up to completion. Properties that already house tenants can either be sold with vacant possession o...

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House prices in New Zealand capital catching up with London

Property prices in the New Zealand capital of Wellington rose by a whopping 9% last year, and the rental market also saw an uplift as supply falls short of demand. According to state-owned valuer Quotable Value, house prices in Wellington hit an aver...

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Landlords need to prepare for new EPC rules from April 2018

All privately rented properties in the UK will need to have an EPC rating of E or higher from this April – and this could be raised to a minimum of band C by 2035. Landlords will need to ensure their buy-to-let properties have minimum energy perfor...

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Americans’ Interest In Housing Market Heats Up

As spring approaches, there’s always an increase in the number of Americans who express interest in buying or selling a house. For many reasons, spring is traditionally the season when the housing market heats up. So, it’s no surprise that Fannie...

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This week: Generation rent, urban land prices and learning from London

The number of people renting rather than buying is still on the rise, although property price trends in the UK are uncertain with Nationwide and Halifax posting contrasting results. London’s boom has made many investors a lot of money over the year...

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London and Manchester could see new generation of townhouses

The government has this week announced that planning laws will be loosened to allow homeowners in certain areas to add an extra two storeys onto their properties. The new rules will make it easier for developers, businesses and homeowners to extend u...

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Home Buying For Seniors: Aspects To Consider

While the younger generations are often urged to take a stab at home ownership, seniors contrastingly face a crucial point of whether to rent or to buy. Seniors may have varying reasons for wanting a home. They may consider scaling down, relocate to ...

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Bank of England holds base rate at 0.5% – but next rise is imminent

The Bank of England has announced that it is keeping the base rate at its current level as the UK economy outperforms predictions, but the next increase could be sooner than expected. Monetary Policy Committee (MPC) members made the decision in a una...

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North-west sees rise in investment landlords applying for mortgages

The market share of buy-to-let investors has been dominated by London for many years, but the rest of the country is now beginning to catch up – particularly the south-east and the north-west. There was a 3.1% rise in the number of buy-to-let mortg...

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How an ISA can help you invest in the property market

Individual savings accounts (ISAs) are a great, tax-efficient way of saving money, and they can provide an effective route into property investment – and not just for first-time buyers. The individual annual ISA allowance in the UK is currently £2...

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Kenya poised for economic recovery as property market strengthens

Global real estate consultant Knight Frank is predicting an increase in property investment in Kenya during 2018 as the economy begins to gain momentum. In its recently released report, Inside View Kenya, Knight Frank revealed that transactional acti...

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Volumes are low and prices are down in London prime property market

The gap between asking price and selling price for some of London’s most expensive homes has hit a 10-year high, with properties selling for an average discount of around 10%. Last year, according to the latest figures from research company LonRes,...

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Halifax presents a more muted picture of UK house prices

While Nationwide’s house price index showed a slow but steady positive rise earlier this week, the latest results from Halifax imply more of a slowdown in property prices. House prices in the UK fell by an average of 0.6% in January to £223,285, a...

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What landlords need to know about permitted development

Trafford Council have brought in an “emergency” ban on permitted development in the region to prevent an overabundance of HMOs in the area, but what are landlords’ options when converting their properties for multiple occupation? The council in...

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Family buy-to-let mortgage product presents new opportunities

Families seeking to invest in a rental property and let it to their children or close family members at less than market value often find that a buy-to-let mortgage is not an option. However, today’s marketplace has presented a new opportunity with...

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Tired and Tested Steps Toward Building a Home

Building a home from scratch is a rewarding experience, but also a daunting project. Beyond everything else, it’s a huge investment that is supposed to last for years and years to come. There are some major errors and setbacks to avoid and a host o...

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More expats in Australia are investing in buy-to-let UK property

Australia is a top destination for Brits who choose to move overseas, but a recent spike in the number of expats buying investment properties back in the UK suggests many want to keep their options open back in their home country. Over the past 12 mo...

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Property investment is still the best way to make money…

People of working age can save up for retirement in a variety of ways, but almost half of the UK population believe that investment in property will provide the best pay-off. The Wealth and Assets survey by the Office for National Statistics (ONS) ha...

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Borrowers shouldn’t take headline mortgage rates at face-value

According to a recent Mortgage Saver Review by online mortgage broker Trussle, headline mortgage rates are misleading borrowers and could be costing them thousands of pounds. At first glance, it may seem that the lowest rates are the cheapest option,...

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Criminal HMO owners could now be forced to pay back all earnings

A landmark legal decision taken against a rogue landlord in north London could set a precedent for owners of properties that fall below legal levels of health and safety. Harrow Crown Court in north-west London has ruled against members of the Shah f...

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Developers to give Londoners first refusal on new-builds in capital

Mayor of London Sadiq Khan has announced that some builders and housing associations will offer local London workers and residents ‘first dibs’ on new-build homes up to £350,000. After research conducted last year found that around half of the c...

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Paperless property: Land Registry moves towards digital deeds

Paper deeds could become a thing of the past after the government has approved a change in legislation to allow the Land Registry to offer fully digital conveyancing in property transactions across the UK. From 6 April this year, existing rules will ...

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Home Sellers Realize Highest Return Since 2007

Naturally, as home prices have increased, so too has the amount of profit homeowners see when they sell their home. Now, according to new numbers from ATTOM Data Solutions, homeowner profits have reached their highest point in more than 10 years. In ...

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Growing the nation’s wealth with property and pensions

The household wealth of the UK ballooned by £1.7trn between 2012/2014 and 2014/2016, with property and pension investments making up the lion’s share… The average British household’s median net wealth was £259,400 in the latest figures for 20...

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Another house price hike for the UK in the face of negative predictions

Property prices in the UK saw their fastest annual growth rate since March 2017 according to Nationwide, a surprise positive turn for many experts who’d set out more sober expectations. House prices across the UK have now reached an average £211,7...

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Feel like throwing a Super Bowl party at home?

The Super Bowl comes once a year and provides the perfect opportunity to get your football-loving family and friends together in a party at home, where you can watch the game on your big screen. If you like the idea of hosting your own Super ...

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Housing Market Has Momentum To Start The Year

If you look at just about any reading of the current housing market, you’ll find that there are a lot of Americans interested in buying a home right now. Whether it’s because of pent-up demand that built up in the years following the housing cras...

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Social landlords could increase housing stock for poorer renters

Social landlords, which tend to be local authorities and housing associations, could create more private rental properties to help with the shortage of affordable homes. The London School of Economics and Political Science (LSE) has compiled a report...

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Mortgage Rates Move Higher For 2nd Straight Week

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates moved higher for the second consecutive week last week. Rates were up across all loan categories, including 30-year fixed-rate mortgages, loans backe...

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Lenders offer attractive deals to combat decline in new mortgage approvals

British banks approved the fewest new mortgages in December since April 2013, according to figures released by UK Finance. Only 36,115 home loans were approved by mortgage lenders, a drop of 19% on November’s home loan approval of 39,007. The figur...

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Growing number of foreign buyers investing in Turkey’s property market

Recent figures from the Turkish Statistical Institute have revealed that sales of Turkish property to international buyers were up by 22.2% last year compared with 2016. The Institute has reported that the biggest group of overseas buyers came from I...

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Home Price Climb Means Buyers Need To Prepare

It isn’t news that home prices have been headed upward for awhile now. And, according to the latest S&P Case-Shiller Home Price Indices, they are continuing to climb at around the same pace as they have been in recent months. Which is to say, t...

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First-time buyers choosing 30-year mortgages to reduce monthly costs

In the past, 25-year mortgage terms were the norm, but new Government figures show that more than half of first-time buyers are taking out mortgages of 30 years or more. Facing increased house prices and more stringent affordability checks, the numbe...

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Then and now: what investors can learn from London’s housing market

If you’d have bought a property in London back in 1998, you might have expected to stump up an average £115,000. Fast-forward 20 years and that same property could have made gains of 319%… Property investors who buy in the right place at the rig...

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Forecast Sees Little Change On The Horizon

Depending on the results of the most recent monthly housing report, you might get the impression that the market is horrible or just fine. Mainly, that’s because monthly real-estate reports often show an exaggerated amount of volatility. In other w...

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House prices are up but sales are down in Scotland’s property market

Scotland had a strong 2017 in terms of property prices with a year-on-year rise of 3.6%, but the number of transactions fell, and many are blaming the country’s controversial property tax. The latest UK House Price Index has revealed that West Dunb...

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Urban land value in Manchester rises 20% higher than national average

The north and Scotland are seeing higher than average land value rises as strategic land acquisition becomes more competitive, with house prices climbing at a much slower rate. While the value of greenfield land in the UK has only inched up by 1.7% o...

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Jeremy Corbyn reveals Robin Hood policy to combat housing crisis

Properties that are deliberately kept empty by wealthy owners waiting for price rises would be taken over by councils if Labour wins power in the next general election, freeing up homes for those who need them. In London, around 1,000 super-luxury ap...

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Premier League properties: how do house prices fare in football towns?

Does performance on the pitch affect the local property market? Zoopla has come up with a list of property price changes in areas around major football stadiums ahead of transfer deadline day. Manchester United came out on top when analysing house pr...

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Improvement In New Home Market Is Good For Buyers

The number of new homes being built and sold has become an important indicator for the housing market in recent years. That’s because, a shortage of homes for sale has caused prices to steadily increase. And, since the quickest way to add inventory...

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Generation Rent on the rise as less youngsters becoming homeowners

Over the past 10 years, the number of young people in the private rented sector (PRS) has shot up significantly, with the average age of a typical first-time buyer climbing to 33. A growing number of people are joining the ranks of Generation Rent, a...

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New Zealand’s housing market is stuttering but foreign investors abound

Key cities including Christchurch, Tauranga and Auckland have seen their property markets slow down in recent months – and the number of owners selling houses at a loss is increasing. According to data analyst CoreLogic’s recent Pain and Gain Rep...

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Home fire risk to be tackled by new product safety office after Grenfell

The Residential Landlords Association (RLA) has come forward in support of the government’s new Office for Product Safety and Standards in the wake of several fatal fires, and it’s something landlords should bear in mind. The Grenfell Tower fire ...

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Housebuilders had a stellar 2017, but competition for land is hotting up

Housebuilding in the UK hit a 10-year high last year with more new homes started and completed since the financial crisis. Can the industry maintain its momentum as market competition intensifies? According to the latest statistics from the National ...

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Existing Home Sales Reach 11-Year High

According to new numbers from the National Association of Realtors, last year was the best in more than a decade for sales of previously owned homes. Existing home sales ended the year at an estimated 5.51 million sales, surpassing last year’s mark...

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This week: Renters leaving London, affordable homes and OAP mortgages

This week it emerged that more private tenants are leaving the capital in search of cheaper homes, while rents in the UK have edged up only slightly in the past year. Affordable housing is still a prevalent issue in the property market, and while off...

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Renting by the room: buy-to-let investors get highest yields with HMOs

The best buy-to-let property yields in 2017 came from houses in multiple occupation (HMOs) with an average return on investment of 8.9%, making it an attractive option for landlords looking to diversify their portfolios. Landlords who rent out proper...

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Properties in Manchester now sell three times faster than London

The price and location of a property go a long way in determining how long it takes to sell, and London has always been a fast market. However, according to the latest analysis, the tables might be turning drastically. On average, houses in the UK ta...

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Leasehold legal battle ends in favour of major London freeholder

A landmark legal challenge against the cost of extending the lease on a London flat, which could have changed the way lease extensions are calculated for millions of people across the country, has failed after the court of appeal ruled in favour of t...

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Eager Home Buyers Get Jump On Spring Season

Home buyers may be getting an early start on the spring buying season this year, according to new numbers from the Mortgage Bankers Association. In fact, demand for purchase loan applications was up 6 percent last week from one week earlier and at it...

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How has Brexit really affected the UK property market?

With news that the pound has hit its highest level at more than $1.40 since Britain’s vote to leave the EU in June 2016, the UK housing market appears to be holding its own in the face of a difficult climate. The date for Britain’s exit from the ...

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Why now is an opportune time for first-time buyers with smaller deposits

With the government’s decision to scrap stamp duty for first-time buyers, and the base rate rise having little impact on mortgage rates with a 95% loan-to-value, this year is looking promising for prospective first-time buyers wanting to get on th...

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Long Island As One of The Most Sought-After Neighborhood In 2018

US real estate data provider, PropertyShark researched industry experts to looked at most “sought-after” neighborhoods this year —and Long Island City made the rundown. The research, which went on a month at PropertyShark’s site, was taken by...

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The forgotten room: design secrets for your bedroom

Bedroom design isn’t something that homeowners put much thought into. It’s a functional room and it’s usually private, which means that you can design it with only your taste in mind and not waste too much time on it. However, all the reasoning...

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Step aside Germany: UK is top place for commercial property investment

The commercial property investment market in Germany experienced a steep decline in the last quarter of 2017 from 34% to 23%, while the UK upped its game from 27% to 29% – making it the most popular destination in the world. A barometer from proper...

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The definition of affordable housing depends on who you ask…

The government has promised to invest an additional £2bn in its Affordable Homes Programme in a bid to tackle the UK housing shortage, but what constitutes affordable housing isn’t always clear. House prices in the UK have been accelerating faster...

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Young Adults Hold Key To This Year’s Market

First-time home buyers are an important demographic when tracking the health of the housing market. That’s because, they typically make up nearly half of all home sales. In recent years, however, young Americans have been buying fewer homes than in...

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The Value of New York Real Estate Jumps More Than 9%

New York still yields the most gain when it comes to real estate development. The city is estimated to bring in $1.26 trillion for its more than one million properties for the tax year starting in July, a growth of 9.4 percent over the past period th...

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Sydney is the second least affordable housing market in the world

According to an international housing affordability think tank, property prices in the main Australian cities have become severely unaffordable. In its latest annual report, Demographia revealed that Sydney is the “second worst” city in the world...

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Rental prices in the UK edged up more slowly than inflation in 2017

Last year’s UK rental market was decidedly steady, with average rents rising by 1.7% in the year to December 2017, although regional variations painted a slightly different picture. The UK average monthly rental price agreed on a new tenancy in Dec...

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The Dream of Owning Your Own Home Is Now Over!

15 Melody Ln Kings Park, NY, 11754 Welcome to this traditional center hall colonial with an open and airy feel. This home has been well maintained with lots of upgrades and immaculately clean. Enjoy the cozy, spacious living room and dining room ...

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Curb appeal – the best advertising tool of the trade

Nothing is more important than curb appeal, especially in this day and age! It’s the one thing that makes people want to get inside and put down an offer, and the best advertising tool of the trade. Real estate agents know it, professional photogra...

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More focus on mortgage financing options for the older generation

Statistics suggest that between now and 2032 there will be 40,000 interest-only mortgages maturing annually, with no obvious means for their older borrowers to repay them. Last year the Financial Conduct Authority (FCA) estimated that 1.8 million peo...

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Self-manage or letting agent: landlords need to decide after fees ban

The draft Tenant Fees Bill will see letting fees for tenants being banned in the UK, but some expect the quality of service from agents to go down with their profits. Could landlords be better off self-managing their rentals? Last year, the number of...

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Showings Up As Home Buyer Interest Remains High

If you had any doubt that there’s been a high level of home buyer interest lately, new data on the number of showings across the country should convince you. That’s because, according to the ShowingTime Showing Index – which tracks the average ...

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The case for and against office conversions to ease the housing crisis…

Converting offices for residential use is great for adding to the UK’s housing stock, but it allows developers to bypass affordable housing requirements. The government needs to meet its 300,000 new homes a year quota, and over the past two years 3...

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Home mover deposits now exceed £100,000 in UK for first time

House prices went up by an average of 2.7% last year in the UK, meaning many existing homeowners have had an equity boost enabling them to climb further up the property ladder. The average deposit stumped up by homeowners who are moving house has exc...

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Are government measures enough to tackle UK housing crisis?

Last year’s Autumn Budget has come under fresh criticism as a Treasury select committee warns the measures do not go far enough to tackle UK housing issues – and could even make it worse. In November, Chancellor Philip Hammond addressed the serio...

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The rise of the short-term let: landlords taking lead from Airbnb

Void periods – the days, weeks or even months between one tenant moving out and another moving in – can be a landlord’s most dreaded expense, so growing numbers are turning to short-term, Airbnb-type lets to plug the gap. The number of buy-to-l...

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What To Do If You Live In A Competitive Market

These days, competition and affordability are two of home buyers’ main concerns. This isn’t surprising, as no one likes to pay more for less. Naturally, we prefer to find a bargain and we certainly don’t want to have to fight off other interest...

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Why are record numbers of renters leaving London now?

Last year, Countrywide recorded a 10-year high of 65,000 renters quitting the capital. But they’re no longer leaving to become first-time buyers… The UK’s largest estate agency group, Countrywide, which has been recording tenant movement since ...

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New land value capture inquiry could influence UK property prices

In the UK, land value capture is a way of monetising increasing land and property values and investing the cash into local infrastructure, but ongoing calls for a rethink of the methods used has sparked a Government inquiry. The inquiry, which has be...

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What to Consider When Expanding Your Home

A home expansion takes time, finances and careful consideration. Not to mention the required paperwork, permits and other legal stuff. So, before you run out to get a bunch of construction material, let’s see what an expansion project entails. Why ...

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Property investment in the Netherlands shoots up by record €3bn

Both domestic and foreign investors drove a whopping €19.5bn (just over £17bn) into the Dutch property market last year, beating the €14bn (£12.4bn) invested into the sector in 2016. According to a report from CBRE, this level of investment mak...

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