A three-bedroom home was the latest successful property sale by Pattinson Auction, selling for nearly triple the starting bid.
International investors’ interest in the UK buy-to-let market is starting to increase once more, according to a new Liquid Expat Mortgages report, mainly because of the weak value of the pound.
The latest market snapshot from the National Association of Estate Agents suggests that the proportion of sales made to first time buyers has dropped further, to 22 per cent.
The market was driven by strong remortgage activity in October as customers clamoured to secure a new deal ahead of the Bank of England base rate rise.
Sales to first time buyers in the UK fell in October to the lowest figure seen since February and demand dropped 11% month on month, the latest data shows.
The value of privately owned homes in the UK had risen by £1.94 trillion over the last decade with over half of this increase in London and the South East, new research shows.
House prices in Leeds, Manchester and Birmingham could feasibly rise by between 20-25% in the next three years, Hometrack has predicted in its UK Cities House Prices.
Data from Hometrack shows that the gap between average earnings and house prices has reached an all-time high in London.
The London-focussed estate agency Cluttons says chains in central London are becoming increasingly fragile thanks to general uncertainty in the wider economy leading to more nervous purchasers.
First-time buyers have started taking a bigger share of the market, to the detriment of cash and buy-to-let purchasers.
New builds account for less than 14% of all properties sold in England and Wales last year with the most sold in Cambridge and London and the least in Oxford and Ipswich, new research shows.
Micro apartments are often criticised as being too small and like rabbit hutches but a new survey has found that 71% of people in the UK support the concept.
The government has defined the ‘first time buyers’ who will benefit from its immediate scrapping of stamp duty for FTB purchases below £300,000.
Home owners in the UK spend £10,743 on updating their property within the first five years of moving in, new research has found.
The expected increase in the Bank of England base rate and an increase in first time buyers created a flurry of activity for remortgages in the UK in October, the latest figures suggest.
Barclays will launch a selection of products aimed at first-time buyers on Friday after the demographic benefited from a stamp duty cut in yesterday’s Autumn Budget.
House prices could rise in England and Wales in the next 12 months because of the decision to abolish stamp duty for most first time buyers. The change does not apply in Scotland.
House prices in the UK will rise by 3.1% in 2018, slow slightly to 3% in 2019 and then 2.9% in 2020, with the higher rate next year down to stamp duty change, according to new guidance.
The British property industry has hailed the decision to abolish stamp duty for most first time buyers as a bold step but there are concerns it could increase supply issues if existing owners cannot move up the housing ladder.
Skipton Building Society has launched a 7-year fix rate at 2.40% to 75% loan-to-value with a £995 fee.