Tag Archives: house
UK homes market sees more properties coming up for sale online
The number of UK home owners putting their properties on the market online has increased by 7.1% in the past month compared to the previous month, the latest research shows. Some 67% of major towns and cities in the UK have seen a rise in the number of new properties being marketed in the same period, according to the data from online estate agents House Simple. The index, compiled from the number of new properties listed every week on the property portal Rightmove in more than 100 major towns and cities across the UK and all the London boroughs, also shows that although new stock levels remain low overall across the country, home owners are finally starting to put their homes on the market. The largest increases in new listings in the past month compared to the previous month was in Swindon with growth of 47.3% followed by Liverpool and Leicester, both at 30.4%, then Lancaster at 24.3% and Sunderland at 22%. Next came Halifax at 21.1%, Coventry at 21.1%, Hereford at 19%, Lincoln at 17.6% and Oxford and Dundee both at 17.5%. These towns and cities were followed by Edinburgh and Blackpool at 17.2%, Hartlepool at 17.1% and Bolton at 16.3%. The figures also reveal a distinct north/south divide, with home owners in the north of England and Scotland appearing to be more active in June and July in marketing their properties. Nine out of 15 of the new property listings risers are in the north of England or Scotland, while four towns/cities in the Midlands also feature in the list. Winchester saw the biggest drop in new properties coming onto the market in the past month compared to the previous month with a fall of 17.9%, followed by Hull down by 13.7%, Doncaster down by 12.5% and Cambridge down by 8.7%. Next came Nottingham with a fall of 8.1%, Torquay at 7.6%, Grimsby at 6.2%, Norwich at 5.8% and Glasgow at 5.7%. The London property market has slowed in recent months. However, Rightmove figures analysed by HouseSimple reveal that the capital has seen an 8.1% increase in new properties being listed in the past month compared to the previous month. Some 78.1% of London boroughs have seen an increase in new properties being marketed in the past month and the biggest rise was in the City and Westminster at 29.5%, Islington at 28.8% and Southwark at 27.1%. Meanwhile the biggest fallers have been Bromley, down 11.2%, Kingston upon Thames down 6.6% and Havering down 4.4%. ‘A stampede of sellers coming to market was expected after the General Election result, but that stampede never materialised. In fact, for the first few weeks there appeared to be a fair amount of caution and reluctance amongst sellers to market,’ said Alex Gosling, chief executive officer of House Simple. ‘This may have been a case of waiting to see if property prices might start to rise rapidly with the confidence generated by a stable, majority government. Now it… Continue reading
House price growth confidence hit new high in UK after general election
Confidence in the outlook for house price growth in the UK hit its highest level in four years following the general election in May, but dropped back last month. The dip in confidence in June comes despite continued rise in real wage growth, together with record low numbers of homes available for sale pushing average house prices over £200,000 for the first time ever, according to the Housing Market Confidence Tracker report from the Halifax. House Price Optimism (HPO) hit +68 in May 2015, and although it slipped back slightly in June to +64 it remains substantially higher than at the beginning of the year when it was +52 in the January survey. Nevertheless, while the May high was short lived, the percentage of Britons predicting an increase in the average property price of more than 5% over the next 12 months has still risen from 34% to 38% in the last quarter, comparing the March and June 2015 measures, respectively. This increased optimism also corresponds with a fall in the net figure for buying sentiment from +35 in February 2015 to +25 in June 2015. Some 56% said in June they think it will be a good time to buy property over the next 12 months, compared to 61% who said this in February 2015. At the same time there’s been an increase in the net figure for selling sentiment from +27 in February 2015 to +32 in June 2015. With the Governor of the Bank of England saying improving economic figures means an interest rate rise has moved closer, 48% expect mortgage interest rates to be higher in 12 months’ time compared to 45% in the first quarter of the year. Londoners are less likely than those in any other region to say it is a good time to buy at 38% compared with 56% of Britons overall, making it the only region where the proportion who think the next 12 months will be a bad time to buy exceeds the proportion who think it will be a good time. Those in the South East are more confident than in any other region that house prices will be higher in 12 months’ time at 90% compared to 69% of Britons overall, with those in the North East and the West Midlands the least likely to say this, both at 59%. ‘Economic growth, together with increasing real earnings growth and historic low mortgage rates are all supporting the continued rise in house price optimism. It’s not been a smooth increase though as while there was a noticeable spike in optimism straight after the General Election result, this has now fallen off slightly,’ said Martin Ellis, housing economist at the Halifax. ‘A key factor in maintaining optimism over house price growth has been the fact that the stock of homes available for sale is currently at record low levels. If this growth is to be sustainable then we need to… Continue reading
Demand could push up prices in popular parts of Spain
Enquiries from international buyers for property in Spain have reached record breaking levels at a time when prices are still falling but demand could push up values in popular areas. Spanish property portal Kyero, which lists more than 200,000 homes from 3,000 estate agents, said it has had its busiest ever quarter and properties prices from €50,000 to €100,000 are proving most popular. The firm’s latest quarterly report shows that 28% of all enquiries were for properties at €100,000 or less and they are also proving popular with domestic buyers. The report also suggests that prices could start rising because of the demand. Valuations company Tinsa has released data which shows that a total of 35 popular locations have seen price rises between the first quarter of 2014 and the same period in 2015. The previous year saw just four of those areas register price increases. The upward movement indicates that those seeking properties in the €50,000 to €100,000 range might soon have to up their budget in order to get what they are looking for. The Kyero research confirms that Spain's coastal areas are some of its most popular with second home buyers looking for a holiday home with easy access to beaches. Alicante, home of the Costa Blanca, is the most popular province, according to the Kyero report with 31% of all enquiries focusing on that region. Malaga was the second most popular area, accounting for 15% of total enquiries. ‘Spain's beaches offer some fantastic, family friendly holidays and many of those buying here want to own a property within a short walk or drive of at least one beach. Apartments are by far the most popular choice, accounting for 39% of all enquiries during the last quarter, 10% ahead of villa enquiries,’ said Kyero founder Martin Dell. ‘Many families like the idea of owning an apartment that comes with a shared swimming pool that the condominium company maintains. It's less hassle and expense than owning a villa with its own pool,’ he added. The Kyero report also reveals that it is three bedroom properties that command the most interest, with 32% of all enquirers looking for properties of that size. Two bedroom properties came a close second, with 30% of total enquiries. Meanwhile, the Tinsa data shows that overall the average price of new and used homes declined by 1.1% in the first half of 2015 compared to the same period of 2014 but the Mediterranean Coast and Islands standing have performed better. Prices in the Balearic and Canary Islands increased by 4.4% in the first six months of the year, while prices on the Mediterranean Coast increased by 1.8% in the same period. The biggest falls in prices have been seen in cities with declines of up to 3.7%. Since the peak of the market in 2007 average property prices have fallen by 41.8%. The Mediterranean Coast is the area where values have been adjusted most, with an… Continue reading
