The cost of renting a two-bedroom flat has topped £1,000 in all but two London boroughs, according to a new study by Zoopla. The only areas where Generation Rent can hope to find a home for less than four figures are Havering in east London and Bexley in the south-east, with average monthly rents of £947 and £928 respectively.
Rent rises in the past year mean that average rents on two-bedroom flats in a quarter of London’s boroughs now top £2,000 a month, according to the study.
It found that in Westminster the average two-bedroom rent stands at £4,174, while rents in the City, Kensington and
New figures published by the Council of Mortgage Lenders (CML) have highlighted a considerable annual reduction in the level of interest-only mortgage debt in the UK. According to CML, home owners in the UK with interest only mortgages are taking action to reduce the risk of not being able to repay their loan when it matures.
Based on a CML survey representing around 96% of the market, at the end of 2013 there were an estimated 2.2 million pure interest only loans outstanding, and a further 620,000 part interest only, part repayment mortgages outstanding on lenders' books. Compared to 2012
A Lake District mountain has been put up for sale as its owner attempts to pay off a hefty tax bill.
Blencathra, a 2,850ft (868m) high peak that imposes itself across the Northern Fells, has been placed on the market for £1.75 million.
Known as Saddleback due to its distinctive shape, the mountain was dubbed "one of the grandest objects in Lakeland and one of the best known" by Alfred Wainwright. But the Earl of Lonsdale, Hugh Lowther, has been forced to try and sell the 2,676 acre plot to help pay off the reported £9m tax he owes from his father's inheritance.
A flat in West London has sold for a record British price of more than £140m, according to a report.
The 16,000-square-foot duplex penthouse, one of four at the One Hyde Park in Knightsbridge, was sold to a buyer from Eastern Europe, thought to be either a Russian or Ukrainian, The Times newspaper said. It has been bought as an empty shell and there were estimates it could cost £20m to fit it out to the expected standard of décor and furnishings.
One Hyde Park has been described as the world’s most expensive block of flats. It was developed by CPC Group and Sheikh Hamad bin Jassim bin Jaber al
House prices in Blaenau Gwent have seen the biggest annual fall in Wales and England, according to new figures. The average price in the county, whose main towns include Ebbw Vale and Tredegar, plunged by 15.7% to £61,860.
All regions across England have seen prices rise year-on-year, but in Wales they fell by 1.6% annually to £113,275 on average, says the Land Registry.
Overall, combined house prices for England and Wales lifted by 5.6% year-on-year to March to continue their growth at the fastest rate in nearly four years. But London property values are rising twice as quickly as the
Annual house price growth in the UK has hit double digits for the first time in four years, the Nationwide has said.
In the year to April, prices rose by 10.9%, the first annual double-digit growth since April 2010 and the fastest rate since June 2007. The news may scotch other suggestions that the housing market has been cooling over the last few months.
This week the Land Registry - which records actual sales - said prices fell by 0.4% in March. But the Nationwide believes prices have now resumed their upward trend, saying that the average UK house price now stood at £183,577.
Fierce bidding drove up the cost of six garages in west London at a recent property auction - with the lock-ups fetching £700,000, some 10 times the guide price, reported The Guardian yesterday, following an interview with auctioneer, Andrew Binstock, the man who brought down the hammer on the garages.
Three of the garages, are currently let, bringing in an income of £2,760 a year, but the buyer is expected to knock them down and replace carparking with carpeting. Property prices in Hammersmith & Fulham, where the garages sit just off the Fulham Road, rose by almost 16% in the year to March
Home buyers are now paying nearly 97% of the asking price of a property, marking the highest average percentage seen in nearly 12 years, property analyst Hometrack has reported.
But there are early signs that the London market is starting to soften, amid evidence that buyers are becoming less willing to meet sellers' prices in the face of the recent strong hikes in house values seen in the capital, the report for April said.
Across England and Wales, prices rose by 0.6% month-on-month in April, which is the same increase seen in March - and the time it takes to sell a property has fallen to
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House sales in Wales have increased by 21% in the first three months of the year compared to the same period in 2013.
Figures released by HM Revenue and Customs show 10,720 houses in Wales were sold between January and March. It follows the launch of the country's help to buy scheme in January. The trend suggests growing confidence in the housing market but Cardiff estate agents, Moginie James, said it was only partly down to help to buy.
The UK government operates another help to buy scheme in both England and Wales.
The Welsh government's is available for new build homes up to £300,000 as
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