Transport for London (TfL) has become the latest to get involved, making a serious bid to become one of the capital’s property supremos.
More than 500 sites owned by TFL across London, including its former headquarters in a Grade-I listed building in St James’s Park, are set to be redeveloped into penthouse properties, new homes and retail space to raise billions of pounds for the capital’s transport network.
TFL will turn property developer to build on some of the 200m sq ft of land it owns, beginning with 10m sq ft at 50 locations across the city.
New figures show prices in part of South London jumped by more than 20% last year as more Londoners compromise on a central location in return for more living space.
Prices in Balham outpaced the rest of London in 2014 with 21% annual growth, according to estate agent Marsh & Parsons’ latest London Property Monitor.
Figures show the average Prime London home has risen in value by £95,000 in the past twelve months. But house prices in cheaper Balham have jumped £152,000 over the same period.
Balham, famously lampooned by Peter Sellers as the “Gateway to the South”, where nothing happens apart
With property prices rising just 0.4% over January, the North East housing market seems to be experiencing a tough start to the year.
The tiny (but welcome) rise puts to an end three consecutive months of falling house prices in the region. The average cost of a home in the NOrth East now stands at £144,872 - the lowest levels for nine months.
The overall fastest riser in the region was Blyth, which managed to rack-up 3.1% growth. Tynemouth and North Shields picked up 1.3% and 1.2% respectively. Matching Tynemouth on 1.2% was Gateshead, with Durham City (1%) and Sunderland (0.9%) closely
Paragon Mortgages recorded a 58.4% year-on-year increase in buy-to-let lending in the first quarter of its financial year beginning October 2014 as lending volumes rose from £140.2m to £222.1m.
Its operating profits increased 14.9% in the first quarter last year, rising from £26.9m to £30.9m for the quarter to 31 December 2014.
According to the Council of Mortgage Lenders' figures released in December, buy-to-let figures in October enjoyed a year-on-year increase in loans of 22% and value of 29%, with lending of £2.7bn and 19,600 loan transactions.
The latest data released by Balgores Property Group has shown that average house prices in Essex gained an impressive 14% over the course of last year, ahead of the national average house price growth of 12.5% reported by ONS.
The last 12 months have seen house prices rise steadily across England with prices in Basildon seeing one of the the highest increases at 20% year-on-year growth. Chelmsford was up by 19%; Upminster gained 16%; Romford 13%; Hornchurch by 9% and average properties in Brentwood grew by 8%.
The average house price in Essex stood at £312,067 in 2014, well above the above
Inertia has hit the UK housing market as sellers await the outcome of the general election and stricter mortgage regulation suppresses buyer demand, according to property website Rightmove.
The number of homes registered for sale per estate agent fell to its lowest level for five years in December, with available stock 10pc lower than in the same month a year earlier.
At the beginning of 2014 each agent had 63 properties on its books, which climbed to 72 in July, before plummeting to 57 in the last month of the year.
While the lack of new listings pushed asking prices up 1.4pc from November to
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The boost to Scottish house prices that was felt after the referendum has worn off as values North of the boarder slip in November.
Dr Peter Williams, housing market specialist and Chairman of Acadata, comments:
"In November, the average house price in Scotland fell by £191, or -0.1% on a seasonally adjusted basis, finishing the month at an average of £164,607. Following on from the more upbeat rise of 0.7% in October, the November figures are perhaps somewhat disappointing, but possibly reflect a more balanced view of the housing market post-referendum. For example, one of the statistics we
A leading analyst has signalled the end of a year of bumper profits for housebuilders and estate agents by downgrading the entire residential property sector.
A new note from stock broker Jefferies has forecast a weak year ahead for the sector, wiping out the buy recommendations it previously held, and warning that London and the South East could experience house price falls.
Publication of the research note sent share prices across the sector falling.
“Negative newsflow on UK mortgage approvals, UK housing transactions, weak house-price data and lower UK GDP growth will lead to share price
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