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By month: January 2007
Foreign investors sit on London properties
31-Jan-07
Many property investors purchase homes to rent out, but a growing number of foreign property tycoons are buying up expensive London homes and leaving them empty while their value rises.The so-called 'buy-to-sit' market seems to appeal to investors at the
Mortgage approvals down to eight-month low
31-Jan-07
The number of new mortgage approvals fell in December, suggesting that the property market may be about to slow.New figures from the Bank of England reveal that fresh loan approvals for house purchase fell from 129,000 in November to 113,000 in December -
One in five dissatisfied with buying/selling process
30-Jan-07
The current home buying and selling process is widely regarded to be slow, expensive and characterised by uncertainty, according to new research.The Mori Hips baseline report, published on January 25th, was commissioned by the then Office of the Deputy Pr
Deposits 'the main problem' for FTBs
30-Jan-07
First-time buyers generally manage to budget well enough to make their mortgage repayments and the main problem is saving up for an initial deposit, a property expert has claimed.Commenting on recent figures from Yorkshire Bank, which revealed that three
Hips to include energy certificates
30-Jan-07
The government has launched a consultation into proposals that would make it compulsory for estate agents to include energy performance certificates (EPCs) in property particulars.Ministers believe that EPCs would enable homebuyers to make environmentally
Debt counselling service advises mortgage caution
29-Jan-07
Consumers need to exercise caution when considering borrowing large amounts of money to purchase a property, the Consumer Credit Counselling service has warned.According to research by Yorkshire Bank, three in five people would consider taking out a mortg
Dagenham DLR proposals could boost property prices
29-Jan-07
Docklands Light Railway (DLR) has launched a consultation for the proposed extension to Dagenham Dock.The extension, which could be open in under a decade, would extend east from the existing network at Gallions Reach and could make a significant contribu
Planning given for 147 new homes in Harrow
26-Jan-07
A new development of affordable housing is to be built in Harrow, North London, to regenerate an area damaged by a fire just before Christmas in 2002.The Strongbridge Close site currently comprises 108 flats, but Metropolitan Housing Trust (MHT) intends t
Thousands of London homes could be in the wrong tax band
26-Jan-07
Property owners in London could be entitled to claim back over 15 years of overpaid council tax, as it emerges that many homes are in the wrong tax band.The current banding system was put in place in 1991 in England, and recent re-banding in Wales has see
Olympic housing 'could be even more energy-efficient'
25-Jan-07
Developers believe that the housing strategy for the 2012 London Olympics should lead the way for energy-efficient property development.At present, the Olympic Delivery Authority (ODA) is aiming to make the Olympic Village 25 per cent more energy-efficien
Architect demands carbon-neutral homes within 18 months
25-Jan-07
The government's plans for all new builds to be carbon-neutral by 2016 are a step in the right direction but ought to be brought forward, an architect has claimed.Hundreds of thousands of environmentally-unfriendly homes will be built in the meantime, sai
Calls for government to scrap FTB stamp duty
25-Jan-07
The average first-time buyer now spends 40 per cent of take-home pay on their mortgage, fuelling calls for the government to do more to help people onto the property ladder.According to Paul Holmes, CEO of first-time buyer service Firstrung, the last time
Homeowners advised to watch for rogue traders
24-Jan-07
Homeowners have been warned to keep an eye out for rogue tradesmen, as there have been several reports of cowboy traders touting for work following the recent stormy weather.The government's advice service, Consumer Direct, has advised households that the
Landlords 'must focus on target audience'
24-Jan-07
Landlords should have a particular target audience in mind when selecting a rental property, an expert has claimed.According to Tom Entwistle, managing director of Landlordzone, tenants are becoming increasingly demanding and individual tenant groups have
Average London home exceeds inheritance tax threshold
23-Jan-07
London homeowners are advised to take a look at the size of their estate, following the revelation that up to ten million homes - an estimated 41 per cent of households - would be caught by inheritance tax.Chancellor Gordon Brown has been widely criticise
Rate rises fuel demand for offset mortgages
23-Jan-07
The number of homeowners seeking offset mortgages has risen by a third since the first rate rise last August, Yorkshire Bank has said.However, the bank insists that consumers could still be saving themselves money by keeping a closer eye on their finances
NAEA 'won't prevent the rollout of Hips'
22-Jan-07
Home information packs (Hips) will go ahead, according to provider Allhip, despite a petition which the National Association of Estate Agents (NAEA) is leading against the initiative.Although the NAEA claims that over 2,500 signatures were added in the fi
Home the size of a snooker table - £170,000
22-Jan-07
A property measuring just 12 ft x 6ft has gone on sale in Chelsea with a startling asking price of £170,000.The room, which is only a fraction larger than Britain's smallest 'flat', is not even habitable and would require an additional £30,000 s
House prices pushed up by shortage of property
22-Jan-07
House prices have risen by 0.5 per cent this month, largely because of a shortage of properties for sale.The number of properties currently for sale is 18 per cent lower than this time last year and represents a three-year low, Rightmove said.As a result,
Buy-to-let - a family business
19-Jan-07
Many buy-to-let investors run their properties as a family business, research has revealed.According to Standard Life, 68 per cent of professional landlords in London enter into long-term property investment with members of their family, including spouses
Mortgage lending 'will rise further'
19-Jan-07
Gross mortgage lending was eight per cent higher in December 2006 than in the same month in 2005, the latest data reveals.New figures from the Council of Mortgage Lenders (CML) reveal that gross lending reached a new December high of £29.4 billion, u
Flood risk areas 'not an automatic no-no for property seekers'
19-Jan-07
Aspiring homebuyers can often face a dilemma when their dream home turns out to be in a flood risk area, and the recent stormy weather will have brought the problem to the forefront of many people's minds.Ten per cent of the UK's population live in flood
Rate rises 'will impact first-time buyers the least'
19-Jan-07
Contrary to popular opinion, the recent interest rate rises will not hinder first-time buyers, Firstrung insists.According to the online advice centre, low interest rates are in fact one of the main factors behind the plight of today's first-time buyers.C
City bonuses boost London property
18-Jan-07
City bonuses are expected to have a noticeable effect on the London property market, with this year's payouts likely to be even higher than in 2006.The 2007 round of bonus payouts is expected to top £20 billion, much of which will be ploughed into pr
First-time buyers still keen, despite constraints
17-Jan-07
First-time buyers are still being squeezed by affordability pressures, with income multiples reaching their highest ever level.New Council of Mortgage Lenders (CML) figures have revealed that income multiples reached 3.29 times the average first-time buye
House price growth slows after November rate rise
17-Jan-07
The November interest rate rise has helped to take some of the heat out of the property market, analysts believe.According to the latest UK housing market survey from the Royal Institution of Chartered Surveyors (Rics), house prices increased for the 14th
