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
Charles Darrow has announced the forthcoming sale by auction of one of Torbay’s largest private investment property portfolios, with an estimated combined value of around £6 million.
The high yielding portfolio, comprising a mix of residential, commercial and HMO properties, is for sale either as a whole, in part, or as individual lots with guide prices starting from £125,000. A large potential development site in Torquay is also included among the lots.
The Auction will take place on March 3rd 2015 at the Grosvenor House Hotel on London’s Park Lane, in association with Network Auctions. Bids
After their last auction of 2014 held on 17th December, London property auction house Brendons Auctioneers, have reported impressive growth for 2014 when compared to 2013.
With lots offered, lots sold and amount raised all significantly up on 2013, the figures show that the demand for residential investment and commercial property, as well as land, remains strong.
Brendons can report that lots offered were up 44% lots sold increased by 43% and the amount raised at auction was up a huge 99%.
Phil Arnold, Director, commented: “Our business has seen significant growth in the last 12 months and
BBC News reported this week that analysts are suggesting slower growth in 2015 than was the case in the year just gone. Somewhat rarely, there is near consensus among them on what that growth in property prices will be - about 4%.
The UK housing market saw a spring and summer boom in 2014, particularly in London and the South of England, before activity dropped away a little towards the end of the year.
Recently published figures from the Nationwide Building Society - the first to record the annual change over the whole of 2014 - suggest that UK house prices rose 7.2% during the year. This is
The number of first-time buyers in 2014 rose to its highest level in seven years, according to one of the UK's largest lenders.
The Halifax estimates that 326,500 people bought their first house or flat last year - a rise of 22% compared to 2013. That was the highest total since 2007, at the start of the financial crisis.
The main reason was cheap mortgage rates, and government schemes like Help to Buy, which require small deposits. Better job prospects may also have helped.
"Improving economic conditions and rising employment levels have boosted confidence among those thinking about getting
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