House prices are continuing to accelerate across the UK, according to the latest snapshot from the Halifax mortgage lender.
Its latest survey, for February, shows that prices rose by 2.4% last month, leaving them 7.9% higher than a year ago. That was the fastest annual pace of increase since October 2007 and means the average UK home now costs £179,872.
The Halifax said the pick-up was mainly due to better economic conditions.
"Several factors appear to have boosted demand, such as the improved economic outlook, unemployment falling faster than expected, improvements in consumer confidence and
Several posh lots are up for sale in Edward Mellor’s upcoming Auction – including a property once owned by David Beckham.
The detached house on Hazelhurst Road, Worsley was home to Becks during his early years at Manchester United and boasts four bedrooms, spacious accommodation throughout and an Astroturf garden to the rear. Guided between £375,000 and £400,000, the price reflects that the property requires some cosmetic refurbishment.
There are 95 lots included in Edward Mellor and Roger Hannah’s commercial and residential property auction, which begins from 2pm on Wednesday 19th March at
BRITAIN’S biggest mortgage lender will pay the 1% stamp duty due on homes bought by first-time buyers, it announced this week.
The Halifax says its deal will save younger borrowers struggling to get on the housing ladder as much as £2,500. They will be returned the 1% payable on purchases between £125,001 and £250,000. The high street lender says the offer will “ease the burden” on first-time buyers taking a Halifax mortgage.
The move came as financial experts called on Chancellor George Osborne to reform the levy in this month’s Budget.
The average UK house price reached £250,000 in December
A former London Underground station, used as a World War Two command centre, has been sold for £53m.
Brompton Road station, near Harrods, was put on the market in September by the Ministry of Defence as part of cost-cutting efforts.
Opened in 1906, the Piccadilly Line station closed in 1934 when London Underground decided it was no longer financially viable. It is now expected to be used for residential development.
'Historic significance'
Defence minister Andrew Murrison said: "The Ministry of Defence is committed to selling off its surplus land and property in order to provide the best
Councils in England are planning an average council tax increase this year of 0.6%, according to a survey. That will take the average bill for a band D property to £1,464 in 2014/15 - a rise of £8.47.
The annual survey was carried out by the Chartered Institute of Public Finance and Accountancy (CIPFA). Communities Secretary Eric Pickles said the government had "worked with councils to freeze council tax", and had cut it in real terms.
The biggest increase will occur in the South East outside London, where average council tax is set to go up by 0.8%, or £11.35. In London, the average bill will
Aberdeen is the most cost-effective place in Britain to get on the property ladder while London is the best location for renting rather than buying, a property website has found.
Someone buying a property in Aberdeen with a 10% deposit can expect to be better off than if they had rented after just one year of home ownership, according to Zoopla.co.uk.
But in London, it would take a projected 18 years for someone with a 10% deposit to be better off financially compared with the situation if they had rented, the website calculated.
Zoopla also named Dundee, Glasgow, Cambridge, Edinburgh
Nearly half a million UK households are still in negative equity - meaning their homes are worth less than the mortgages on them, figures show.
There is wide regional variation, with 41% of borrowers in Northern Ireland - 68,000 homeowners - in negative equity at the end of 2013, the figures from mortgage group HML show, In north-east England and Cumbria the figure is 16%.But in London, where house prices have surged, only 1% are in negative equity.
That is actually worse than six months previously, when the figure was 14%, presumably tracking a further decline in house prices in the region
House prices rose by 0.6% in February, a 9.4% increase on the same month in 2013, according to the Nationwide Building Society.
The annual rate of growth is the fastest for almost four years. It puts the average price of a UK home at £177,846, which is still almost 5% below the 2007 peak.
Meanwhile the average house price in London has risen to £410,000, according to the Land Registry for England and Wales. Its latest monthly report said London prices were rising fast - up 2.1% in January - which left them 11% higher than a year ago.
The Nationwide said the rise in sales and prices were being
A lot of you probably saw this report in yesterday's news, but we thought it interesting (if not highly amusing), so thought we'd share the report from MSN again.....
"Streets with rude-sounding names like Crotch Crescent, Turkey Cock Lane, Bell End and The Knob could turn out to be a haven for property hunters looking to snap up a bargain, research suggests.
The study for website NeedaProperty.com looked for evidence of what impact living in a street with a suggestive name could have on the value of your home. Properties on streets with innuendo-laden names were found to be around one fifth
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