Property Update

8th June, 2018, by David Hargreaves

Saturday 2 June

  • Ministry of Housing figures show that landlords are offloading 3,800 buy-to-let properties a month. The report shows that the number of privately rented homes in England fell by 46,000 to 4.79m last year.
  • The Telegraph’s Sam Barker lists reasons for optimism over buy-to-let, saying talk of a collapse in buy-to-let lending is misleading.
  • The Financial Times details how technology including blockchain, digital mortgages and automated valuations could speed up the property purchase process.

Sunday 3 June

  • Government plans that would see homebuilders pay less for large sites earmarked for new homes have put ministers on a collision course with major developers.

Monday 4 June

  • A poll of 1,500 young adults saw two out of five say they have deferred attempting to buy their first house because of concerns over being able to afford the deposit or mortgage payments.

Tuesday 5 June

  • Landlords in Manchester enjoy the UK’s highest average rental yields, at 5.55%, according to price comparison site GoCompare, followed by those in London, Leicester, Cardiff, Nottingham and Liverpool.

Wednesday 6 June

  • A growing number of housing experts are calling on ministers to reform how land is valued in a bid to free up more space for new homes.

Thursday 7 June

  • Figures show that across 100 major UK towns and cities, 73,577 new properties were marketed by estate agents in May, compared to 68,500 in April.
  • The Government’s proposed Tenants Fees Bill would see the maximum deposit landlords could charge in England set at six weeks’ rent.  Labour wants this reduced to three weeks’ rent – which would bring the average down to £575.

Friday 8 June

  • UK house prices in the three months to May were up 1.9% on the same period a year earlier.
  • As many as 4m homes across England could leave the stamp duty relief threshold over the next 10 years due to house price inflation.

For further information on any topics presented in this week’s property update, please contact our office on 0115 841 1155.