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Property News

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Rent Increases At Highest Level For 18 Months

Private tenants are facing the biggest rent hike in more than 18 months, according to figures from the Office of National Statistics (ONS).

Millions May Be Pushed Into Poverty By 2040

Social policy charity the Joseph Rowntree foundation has released a report advising that the rising cost of private rents are on course to push thousands of people into poverty while adding billions of pounds onto the UK’s housing benefit bill.

London House Prices Fall For First Time In Two Years

The average house price in London has fallen for the first time in almost two years, according to a report by Hometrack. Prices in London have continuously increased at unprecedented levels over the last two years, but demand finally appears to have levelled off.

House Prices Hit New Peak In Six Regions

House prices are now higher than before the financial crisis in six regions of the UK, according to the Office for National Statistics (ONS). These six regions include, London, the South East of England, the East of England, the East Midlands, the West Midlands and the South West of England.

Planning Permission To Build New Homes At Six Year High

The number of new homes being built could be set to grow even further, as it was revealed that planning permission to build new homes hit a six year high in the second quarter of 2014. The figures, which were published in the Home Builders Federation (HBF) Housing Pipeline report showed that planning permission for 56,647 homes was granted in England during this time period.

Homeowners Told To Prepare For Increased Mortgage Rates

Mortgage rates “will rise at some stage” and borrowers should be planning their finances for this eventuality, according to the Council of Mortgage Lenders (CML). During the second quarter of the year, home repossessions fell to the lowest level since quarterly records began in 2008.

Housing Market Slowing Down

The UK housing market finally appears to be slowing down as seven of the 10 regions in England and Wales recorded a month-on-month fall in house prices, according to the Land Registry. However, despite price reductions in more than half of the regions in England and Wales, the overall average house price remained unchanged from May to June 2014.

UK Property Prices Fall For First Time In 2014

Property prices in the UK have fallen for the first time in 2014, according to a report by online property company Rightmove. The average asking price for a property in the UK fell by £2,116 in June to £270,159, according to the report.

London House Prices Could Fall

House prices in London could be set to fall over the next three months, according to a poll by the Royal Institution of Chartered Surveyors (Rics). The poll found that London surveyors believed house prices were likely to fall in the coming months, with one cause believed to be the recent introduction of tougher mortgage lending rules for borrowers.

House Prices Continue To Rise

House prices are continuing to increase throughout the country, according to the UK’s largest mortgage lender, the Halifax. When measured on an annual basis, prices had increased by 8.8% in June, in comparison to 8.7% in May, taking the average house price in the UK to £183,462.

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