Each week we scour the property press, both on and off line, to find the most topical, informative - and amusing - homes related stories. Follow the links below to see recent editions or click here if you want to subscribe to our weekly email property news round-up.
3rd February 2012, Issue #165
Details on the government's mortgage indemnity scheme were unveiled this week. The NewBuy Guarantee will launch this March and will allow lenders to offer larger loans on new-build properties, without taking on all of the risk. Instead, if a home does fall into negative equity and is repossessed, the government and house-builder will make up the shortfall...(read more)
27th January 2012, Issue #164
The government and the National House Building Council (NHBC) are set to go into partnership together with the aim of addressing the housing shortage. Under new plans, unveiled this week, ministers will have greater access to information provided by the NHBC, so they are better informed when deciding on how best to enable the delivery of new homes...(read more)
20th January 2012, Issue #163
This week Rightmove has revealed that there has been a surge in the number of people looking for new homes. Things are looking good for the start of 2012, as search activity has increased by 27 per cent. However, those optimistic house-hunters may hit a roadblock; the number of new homes for sale is at an all-time low, according to the portal...(read more)
13th January 2012, Issue #162
Dominating headlines this week was the government's green light for the High Speed Rail (HS2) link between Birmingham and London. Whilst there were many protests from angry owners with homes along the proposed route, PrimeLocation claims it could actually affect house prices in a positive way, as more people may look to move to and around the likes of Birmingham, Banbury and Bicester, to take advantage of the rail link...(read more)
6th January 2012, Issue #161
New year greetings. The start of 2012 brings the launch of a new property portal from none other than Facebook. Not content with dominating the social networking scene, the new 'Property Place' application allows users to buy, sell or rent a house. What is unique to the portal is that users are also able to interact and comment on a property, meaning the site is more consumer driven...(read more)
23rd December 2011, Issue #160
The Financial Services Authority has published its proposals on the mortgage lending reforms. The plans are aimed at restricting 'risky' lending, whereby applicants will face a more thorough assessment process, thus avoiding borrowing more than they can afford. The hope in implementing these new rules will be to avoid the return of the gung-ho attitude of lenders before the credit crunch...(read more)
16th December 2011, Issue #159
A report issued by Halifax this week claims that the housing market will be "highly resilient" in 2012. Unlike other forecasts, which envisage slumps due to an uncertain economic outlook, Halifax has predicted it will continue to be stable. This prediction is based on the Bank of England interest rate remaining low, which will have a positive impact on those forced to sell and mortgage affordability...(read more)
9th December 2011, Issue #158
Next year, the new-homes market will be propped up by demand from first-time buyers, SmartNewHomes has claimed. This is thanks to the government's mortgage indemnity scheme, which, together with changes in planning policy, should eventually boost jobs in the industry. However, with planning proposals under the new National Planning Policy Framework not anticipated to come through until the second half of 2012, build volumes are expected to be low...(read more)
2nd December 2011, Issue #157
This week, the chancellor, George Osborne, confirmed that the stamp duty relief for first-time buyers will end in March 2012, as planned. MMS had previously reported that there had been calls from the likes of the Council of Mortgage Lenders to extend it, as there were concerns that there may be a slump in the number of house sales following its end. The chancellor has maintained however, that the incentive has been "ineffective" in increasing the number of first-time buyers entering the market...(read more)
25th November 2011, Issue #156
Dominating property headlines this week is the government's new housing strategy, which is designed to help kick-start the industry. In a PR masterstroke by MMS's client Linden Homes, the plan was unveiled by David Cameron at its Boxgrove Gardens development in Surrey. The cornerstones of the scheme are a mortgage indemnity, to help buyers secure mortgages of up to 95 per cent loan-to-value, a £400m investment fund to complete moth-balled developments and £150m for councils to restore empty homes back into use...(read more)
18th November 2011, Issue #155
The Council of Mortgage Lenders has raised concerns that there may be a slump in the number of house sales when the stamp duty holiday for first time buyers ends in March 2012. This was the result following the withdrawal of the previous concession in December 2009, so it is calling for a reprieve from the Government...(read more)
11th November 2011, Issue #154
It seems the Government's FirstBuy scheme, introduced in September, is creating optimism amongst potential first time buyers, as nearly half believe they are now more likely to get on the property ladder, thanks to the incentive. However, educating them about the initiative should be a priority, as 37 per cent said they had not heard of it and 22 per cent said they did not understand whether the scheme could help them, according to a recent Rightmove survey...(read more)
4th November 2011, Issue #153
Nationwide revealed this week that it will be changing its policy regarding the valuation of new-build homes to reinstate a new-build premium – of late it has been assessing homes on their resale value comparable to similar second hand properties. In reviewing its policy, Nationwide believes it can further facilitate movement in the housing market, whilst still managing risk...(read more)
28th October 2011, Issue #152
This week the Eurozone disaster has been dominating the headlines. Fallout from the crisis could impact on short-term lending costs; Woolwich has already increased the cost of its tracker deals by as much as 1.5 per cent. However, it's not all bad news. While the cost of short-term money is rising, the cost of longer-term money is falling, which should translate into mortgage providers cutting the price of fixed-rate packages to new lows...(read more)
21st October 2011, Issue #151
This week, the Intergenerational Foundation has suggested that the older generation be afforded tax breaks to encourage them to downsize. At the moment, a third of homes are under-occupied, and it is hoped that this move will help tackle the current lack of accommodation by freeing up larger homes...(read more)
14th October 2011, Issue #150
The Home Builders Federation (HBF) has waded into the argument over the Government's proposed planning reforms, supporting the need for a change to law and warning that a generation could face a "house building ice age" if the changes don't go through...(read more)
7th October 2011, Issue #149
The Government is working hard on plans to release public land for development, housing minister Grant Shapps has said. Departments have been identifying land and property that could be released to address the new homes shortage. The hope is this will enable developers to build up to 100,000 properties in the UK by 2015...(read more)
30th September 2011, Issue #148
According to research released by Halifax this week, terraced homes have increased the most in value, in comparison to other house types, over the last ten years...(read more)
23rd September 2011, Issue #147
Mortgage lending in August was at its highest level since July 2009, at £13.4bn. Saying that, experts are warning that these figures don't reflect the true state of the market, which remains subdued, especially due to July's lower than expected performance...(read more)
16th September 2011, Issue #146
It's been a week of ups and downs for the property market. A movement against the proposed planning reforms seems to be gaining momentum. The Daily Telegraph has put its weight behind the 'Hands Off Our Land' campaign, which claims that developers are sitting on vast land banks with planning permission for new homes, negating the need for any 'watering down' of the planning laws...(read more)
9th September 2011, Issue #145
There may be hope for those struggling to get onto the property ladder, as for the first time since the credit crunch a 100 per cent mortgage has come onto the market, meaning buyers won't have to raise a deposit...(read more)
2nd September 2011, Issue #144
It's official - owning a home is cheaper than renting. According to research released this week, the monthly amount of repaying a mortgage on a property is over £100 less than the typical cost of renting a similar home - all the more reason for first time buyers to act now...(read more)
26th August 2011, Issue #143
Halifax has stated this week that Low Cost Home Ownership Schemes (LCHO) are a vital part of the housing market, helping to get buyers with affordability issues onto the property ladder. In particular, shared ownership and shared equity are the most popular incentives, accounting for 87% of total sector transactions...(read more)
19th August 2011, Issue #142
London's Olympic Village has sold to real estate investment and advisory company, Delancey and investor and developer, Qatari Diar. Following the games next summer, the 1,439 homes already on site will become private housing, while the purchase of six adjacent future development plots, brings the potential for a further 2,000 new properties...(read more)
12th August 2011, Issue #141
It seems as though the financial crisis hasn't affected London a great deal compared to other major cities worldwide, as the capital has just been named as one of the most valuable places to own a property – second only to Hong Kong. Savills' World Class Index, which was last compiled five years ago, also found London to have the most expensive rental yields...(read more)
5th August 2011, Issue #140
Surely a frustration for house builders is how ill prepared buyers seem to be and new research released this week appears to back this up. Halifax has found that just 14 per cent of non-homeowners are saving for a deposit, while only a third of respondents have a realistic plan to purchase in the next five years...(read more)
29th July 2011, Issue #139
Figures released this week show a growing confidence in the market, as the number of people trying to sell their home is at its highest level since April 2009...(read more)
22nd July 2011, Issue #138
This week, the chief economist of the Organisation for Economic Co-operation and Development has suggested that Britain implements a property tax based on market values, replacing the likes of stamp duty and bringing in more money...(read more)
15th July 2011, Issue #137
The top story this week has been Pricewaterhouse Cooper's claim that house prices may not recover to their peak levels until 2020. The cause of the continued crisis seems to be a number of contributing factors, including lack of mortgage availability and pay freezes for workers...(read more)
8th July 2011, Issue #136
Good news for the property industry this week as the latest Housing Market Activity Report by Connells Survey and Valuation shows a pick-up in the UK residential sector. Purchasing activity, including an increase in the number of residential and buy to let valuations and an upsurge in the number of first time buyers coming to market, have all added to the rise...(read more)
1st July 2011, Issue #135
Financial information firm, Moneyfacts, has some good news for homeowners this week as it has reported that the average mortgage rate is at its lowest levels since the company's records began in 1988. This is thanks to a number of lenders rushing to cut their rates in recent months...(read more)
24th June 2011, Issue #134
It's good news for first time buyers this week, as the Government has launched a new equity scheme, FirstBuy, whereby house hunters will only have to raise a deposit of 5 per cent for a 75 per cent mortgage. The Government and housebuilder will offer a loan of up to 20 per cent, boosting the purchaser's chance of getting a foot onto the property ladder...(read more)
17th June 2011, Issue #133
There appears to be an air of confidence in the market, as figures released this week show that more Britons expect property prices to rise than fall in the next year. The Halifax Housing Market Confidence tracker also found half of respondents think that it would be a good time to buy over the next three months, although there are still concerns about the general outlook of the UK economy and how that might affect personal finances...(read more)
10th June 2011, Issue #132
This week the government announced plans to release public land for sale to house builders in the hope of creating up to 100,000 new homes and 25,000 jobs by 2015. This will help to address the current shortage of housing and a new map of land and buildings in each area will be unveiled later this year...(read more)
3rd June 2011, Issue #131
This week the extent to which house builders have been supporting first time buyers has been revealed. The likes of Taylor Wimpey, Persimmon and Barratt have ploughed almost £1billion into shared equity schemes to help those struggling to buy a home, which has resulted in 28,000 sales...(read more)
