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.
The Royal Institute of British Architects has said that many new properties are "shameful shoebox homes". Its study found that the average two-storey three-bedroom property was 86 sq ft too small, but the House Builders Federation has responded by saying larger homes could prove to be unaffordable. On a more positive note, a number of developers, including Barratt Homes and MMS client, Galliford Try, have released positive results, with Barratt posting its first profit in three years.
And finally, rents in the London property market have surged to epic proportions, almost doubling in the last year. Rents have reached a record £55,000 per week, with homes in Knightsbridge commanding the highest yields.
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16 September 2011
9 September 2011
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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. Instead, the Family Guarantee Mortgage offered by Aldermore bank will ask applicants to nominate a relative willing to guarantee any borrowing above 75 per cent.
Elsewhere, research has found that more than anything, parents would like to leave their property to their children. 59 per cent of respondents said they would prefer to pass their home down over other assets, such as savings and investments. Children have other ideas meanwhile, as most aspire to own their dream property by the age of 35. It seems children in Yorkshire are the most hopeful, while the majority believe their ideal home will cost between £500,000 and £1 million.
And finally, with autumn nearly upon us, most people in the property industry are usually glad to wave goodbye to summer and the seasonal slowdown experienced annually. However, research conducted by Connells Survey and Valuation has found that residential mortgage valuation activity in the UK was virtually unaffected. Makes a change!
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Elsewhere, research has found that more than anything, parents would like to leave their property to their children. 59 per cent of respondents said they would prefer to pass their home down over other assets, such as savings and investments. Children have other ideas meanwhile, as most aspire to own their dream property by the age of 35. It seems children in Yorkshire are the most hopeful, while the majority believe their ideal home will cost between £500,000 and £1 million.
And finally, with autumn nearly upon us, most people in the property industry are usually glad to wave goodbye to summer and the seasonal slowdown experienced annually. However, research conducted by Connells Survey and Valuation has found that residential mortgage valuation activity in the UK was virtually unaffected. Makes a change!
Want the full story? Click here
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