The biggest-ever monthly drop in asking prices was reported by Rightmove this morning.
However, the portal measured 76,823 asking prices of properties put on sale by agents from November 9 to December 7 – almost every single one of which would have been priced before George Osborne’s SDLT reforms on December 3.
The average asking price was £258,424, down nearly £9,000 or 3.3% on the previous month’s figure of £267,127.
A scheme offering first-time buyers under the age of 40 a discount of at least 20% on newbuild homes is set to go live in the new year, the government announced on Monday.
The Starter Home initiative will offer 100,000 properties at a discount, but the saving will be made possible by changes to the planning system and will come at the cost of affordable housing.
How much would a tenant have to pay to secure a £1,000-a-month flat through estate agents Foxtons? A total of £420, while the landlord would have to pay another £2,448 for Foxtons to find the tenant and manage the property for a year. It is these sorts of extraordinary fees, common across the fast-growing lettings industry, that are (finally) provoking a revolution in new online players, and that will see high street estate and letting agents go the same way as Blockbuster, HMV and Lunn Poly – business models blown apart by the internet.
A new housing development called Mill Junction has been built in Johannesburg, South Africa, using shipping containers and disused grain silos.
It is an attempt to address the shortage of cheap, university accommodation.
THE newly renovated Bonding Warehouse in York has been put up for sale as an investment opportunity.
Bought by York-based developer Grantside in 2012, the landmark riverside grade II listed building, off Skeldergate, has been converted into a mixed-use scheme of 11,000 sq ft of office space and four luxury penthouse apartments on the upper two floors.
Governments across the globe are grappling with the question of how to provide affordable housing for their ever-expanding populations. In the Netherlands many believe the solution lies not on land but on water.
Cruise by any of the canals in the Dutch capital and you'll catch a glimpse of people sipping cappuccinos on their floating verandas. Amsterdam, like many Dutch cities, is criss-crossed by an impressive network of canals.
The Bank of England has warned half a million families would be at risk of falling into mortgage arrears once it started to raise interest rates from their emergency level of 0.5%.
Threadneedle Street said the number of households running into difficulties would increase by a third to 480,000 in the event of a two-percentage-point increase in the cost of borrowing.
Towns and cities such as Rickmansworth, Oxford and Brighton have overtaken parts of London as the most unaffordable places in the country to rent privately.
According to the National Housing Federation, Three Rivers in Hertfordshire – the local authority area which covers the towns of Rickmansworth and Chorleywood – is now the most unaffordable place outside London, with private rent swallowing up more than half of people’s gross wages.
In order to succeed, OnTheMarket will need to have at least the same number of listings as Zoopla.
And there is a warning that Zoopla could go “direct to the seller”.
None of Britain’s burgeoning number of online estate agents has succeeded in breaking into the Fast Track 100, a barometer of successful private companies.
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