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House prices fall in the wake of the buy to let rush

Market forces can work both ways as we have witnessed in the housing sector over many years, the effect of the stamp duty resulted in an increase in price of homes as buy to let landlords rushed to get hold of property before the tax; demand exceeding supply.

Now as the market has settled prices have begun to fall as more properties remain unsold, in England and Wales a 0.5% fall in March has been seen. As normal the prices do vary region by region with London and the East of England the only two regions with month on month growth.

For the capital property prices increased by 0.2% month on month and by 13.9% year on year, this takes the typical average price of a property there to £534,785, the East of England also saw a similar price rise, but the annual growth there was 10.7% and average value to £220,989. (more…)

Creating a luxury kitchen on a budget

Many people believe that creating a luxury kitchen is out of their budget, but it doesn’t need to be expensive; with the right planning and execution you too can create a luxury space that the whole family can enjoy while adding value to your home in the process.

Sales to first time buyers increased in March

As we reported earlier this month, property sales in general in March increased in England and Wales to their highest level since 2007. However, the really good news for those anxious to get their foot on the housing ladder is that due to changes in the stamp duty affecting buy-to-let property, more homes in the lower price bracket have become available allowing the first time buyer to buy their own property.

Scotland sees a drop in house price for the first time since June 2015

A drop in house price in Scotland has to be good news for buyers anxious to get onto the property ladder in that country and figures reveal that an overall drop of 2.1% year on year was recorded. This means that the average price of a home now stands at £168,020, according to figures released in the latest Your Move monthly index. The drop in price is to be welcomed and it is seen in spite of a surge in sales that witnessed a growth of 19% year on year, the strongest since February 2008.

How will your home be powered in the future?

A recent poll conducted by Gocompare Energy has revealed some novel and it has to be said wacky if not unrealistic ideas, that some people believe will be how their homes are powered in the future. Wind turbines in the garden may not be too far from reality, but it has to be said that little water turbines in gutter pipes and bathroom drains to harness further power has to be taking the imagination a bit too far, in the same way that 14% thought flooring could be used to generate energy.

Property sales up in March due to stamp duty change

Latest index data shows that property sales in England and Wales have seen their strongest March since 2007, up nearly 30% to 80,000 house sales. The data also showed that the average house price growth also accelerated, up 6.9% compared to March 2015 and 0.6% higher than February.

Property transactions in central London in March up on 2015

Prime properties in central London rose in March compared with the same time last year and it is the first rise in 2016 according to new data. The dash to complete sales has been fuelled to beat the 3% stamp duty surcharge, however year on year growth indicated that this has slowed down to 0.8% which is the lowest figure recorded in six years.

Interior design trends that will be big this Spring

Advances in technology, innovation and interior designs toady mean that trends are rarely permanent. Something that was all the rage a couple of years ago it not likely to be on trend today, so when creating a space it is important that it is both comfortable and functional with a touch of originality.

Agents reporting a rush from Buy-to-Let buyers before new stamp duty reforms

The 2106 budget announcement, first mentioned in the Autumn Statement, that additional homes would attract stamp duty at a starting rate of 3% for properties up to £125,000, 5% for properties sold at £125,000 to £250,000 progressing up to the highest figure of 15%. It can be seen that most buy to let properties will fall into the bottom two bands, which has prompted a rush to secure these properties before the April 1st deadline.

UK cities property prices now over six times annual earnings

Taking average house prices across the UK, figures revealed in a report from Lloyds Bank show that prices have risen by 8% from the 2015 figure of £196,229 to a new 2016 average of £211, 880. This has meant that average affordability in the nation’s cities worsened in the last 12 months from 6.2 to 6.6 times gross average annual earnings, and it is the third successive year that this has happened.

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