London property prices defied the economic gloom last month with a 7% annual rise to a new average record high of £364,574, according to a new report by the Evening Standard.
The market jumped by 1% in October alone as all-time low mortgage rates tempted back first time buyers and foreign investors continued to pour billions of pounds into London property.
It means that the typical London home is now worth almost £24,000 more than it was one year ago, according to official Land Registry figures.
The biggest annual rise was in Kensington & Chelsea where values went up 15.9% to an average of £1
We are delighted to report that Osborne King have announced a 100% success in their Auction held last Friday 23 November 2012. All of the 36 Lots comprising commercial and residential properties were sold with a combined sales receipt in excess of £2.5 million.
Osborne King is a large Northern Irish based, independent, established firm of commercial property consultants.
Since September 2011 Osborne King have held four commercial /residential property auctions raising approximately £5.4 million of sales with an exceptional overall disposal rate of 81%.
An Edinburgh house where Harry Potter author JK Rowling lived until she moved to the outskirts of the capital has been sold.
Estate agents Rettie said it took just three weeks from when it went on the market for offers over £2.25m to the missives being concluded on the sale. The Rettie listing attracted more than 16,000 unique visits on its website.
The multi-millionaire writer moved from the eight-bedroom Merchiston home to a house in Barnton in 2009. The author of the bestselling book series about a boy wizard lived with her husband Dr Neil Murray and her three children at the Merchiston
Symonds & Sampson’s November Auction, held in Sherborne, was another well attended event with strong prices for properties in Dorset and Somerset. Auctioneer Mark Lewis said “A lot of the properties were development opportunities or land with long term hope value and people were certainly prepared to take the risk.”
Key results included:
Land at Beer Hackett near Sherborne, 4 acres on the edge of the hamlet, sold for £55,000.
A potential development land at Nunney Catch near Frome sold for £52,000 and an industrial site at Gibbs Marsh, Stalbridge, sold for £53,000.
A three-bedroom property in Stockton billed as Britain's cheapest house has sold for £14,000 at auction.
The semi-detached house in the Teesside town, on Limetrees Close, Port Clarence, went under the hammer with a starting price of just £750. But a surge in interest saw its value reach £14,000 when it was bought on Tuesday evening.
Similar properties have sold for more than £50,000, according to auctioneers Robinsons estate agents.
Richard Watson, from Robinsons, said the property needed a "huge amount" of work to bring it up to a "decent standard".
As the mortgage market continues to be a challenge for some, the UK rental market appears to be thriving, attracting more and more prospective tenants. But once the mortgage has been granted and the rental lease secured, which group is better off, buyers or tenants? Estate agency organisation, Home Sale Network surveyed their members to find out.
When asked who pays more per month, the tenant renting a property or the buyer paying a mortgage, nearly three quarters of Home Sale Network survey respondents indicated that it was the tenant. A further 60% stated that the gap between monthly
Banks and building societies are continuing to ration mortgages despite having access to cheaper funds through a new scheme, figures have shown.
The data reveals that there has been little movement in the availability of mortgages for potential borrowers who are unable to offer a large deposit. Brokers say that, for those who have a large enough deposit, lenders have been dropping mortgage interest rates.
But there are few signs yet of things becoming easier for first-time buyers.
More than two-thirds of the mortgage products available on the market in the UK at the start of November required
The penultimate property auctions have taken place, and we are now focussed on the final property auctions of 2012. Catalogues will be released on an ongoing basis between now and early December, with the final auction in the UK taking place 17th December. There will be a break over the Christmas, with nationwide auction houses closing until early January, and the first round of auctions for 2013 commencing late Jan/early Feb. The first catalogues of the new year, should start to be released (and in our database) from second week of January.
Homeowners in the UK are becoming increasingly optimistic regarding the nation's housing market, according to new research carried out by Ipsos MORI on behalf of Halifax,
The report showed that more Britons expect prices to rise rather than fall over the next 12 months. It suggested that 35% of respondents anticipate an increase in such costs, which is markedly higher than the 20% who predicted a decline.
Martin Ellis, housing economist at Halifax, said: "Despite some regional differences, the general improvement in confidence in the outlook for house prices over the past year reflects the
The number of people taking in a lodger has almost doubled to a million, according to new research from LV. And thanks to the Government’s Rent a Room scheme, you can earn up to £4,250 in rental income without paying a single penny in tax. If you rent out a room jointly – perhaps as a couple – you can each earn up to £2,125 tax-free.
Better still, you won’t have to declare this income if you don’t normally complete a tax return, and there's no need to apply for the scheme either. The exemption is automatic – what could be easier? That means you could earn over £350 a month from your spare room
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