Property News in the UK

UK property news and links to various property websites. mortgage news, house price news, interesting properties for sale.

Monday, July 31, 2006

10 steps to equity release

Rising prices, such as the latest blow to household budgets from the gas and electricity companies, often hit the elderly harder than anyone else.

Many of them have to get by on fixed incomes and may be forced to dip into savings to pay their everyday bills.

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Friday, July 21, 2006

Homeloans misery looms

The number of people struggling to pay their mortgage would hit the highest level for 15 years if a potential rise in interest rates arrives.

A report released today by lender Cheltenham and Gloucester said that a 0.25% rise in the Bank of England base rate would stretch housing affordability to its furthest point since 1991.

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Wednesday, July 19, 2006

Home sales pack scheme is scrapped

Plans to introduce £1,000 home sales packs next year have been abandoned amid fears that they would destabilise the property market.

The Government said yesterday that the packs would not be made mandatory next June, as local government leaders claimed that it would be im- possible to enforce the scheme.

House sellers will not now have to provide an expensive home condition report. They will only be required to provide an energy efficiency rating, searches and title deeds, at a cost of £150 next year.

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Monday, July 17, 2006

Home buying plan 'could improve'

The government has been told it could help another 4,000 families a year to get a foot on the property ladder. A report from the National Audit Office (NAO) said the government needs to improve the efficiency of its shared ownership home buying schemes.

Only 11,000 households were helped by the Homebuy schemes in 2004-05 even though 60,000 applied.

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New surge in house prices

House prices surged ahead by more than £1,500 a week during the past month, as they rose at their strongest pace for nearly five years, figures showed today.

The average cost of a home in England and Wales soared by 2.9% or £6,137 during the four weeks to July 8, according to property website Rightmove.

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Friday, July 14, 2006

UK house prices go into reverse

House prices fell unexpectedly by 1.2% in June, according to Halifax, the UK's biggest mortgage lender.

The fall in prices follows several months where the UK housing market has been very buoyant, beating economists' expectations, particularly in London.

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New homes provide good value for money

With so many new houses and properties for sale and so many different types of mortgage, it is wise to do your homework to get the best deal when borrowing money to purchase a new property.

More from this story and other tips for buying a new home click here >>>

Wednesday, July 12, 2006

Home-seller packs uproar

Ministers have ordered an urgent review of the home sellers' pack scheme after warnings it could leave the housing market in crisis.

Consultants have been called in to salvage the scheme, in which sellers face paying £1,000 to produce a dossier of information on their houses before they can be put up for sale.

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Asda To Sell Houses

Supermarket giant Asda today launched a home selling service to rival traditional estate agents. The service, dubbed Homes@Supermarkets, will be the first time property has been sold through a supermarket, enabling people to look for a new home while they buy their groceries.

It is being piloted at 10 stores in the North East, with a view to rolling it out across the country early next year. The supermarket is charging people just 1% commission to sell their home, half the 2% average fee charged by an estate agent. It will also provide a link to a firm of solicitors and mortgage brokers, and plans to provide Home Information Packs to sellers free of charge when they are introduced in June next year, potentially saving them more than £650.

Asda has recruited 40 valuers, surveyors and estate agents to run the service. Properties for sale through the supermarket will be displayed on a computer terminal in the group's stores. People can also view details about the properties online. Both buyers and sellers can register their interest through one of theterminals or online, and they will then be contacted by a Homes@Supermarkets representative, who will arrange visits and viewings in the traditional way. The group said being able to browse houses while doing your weekly shop was one of the most convenient ways to keep an eye on the local property market.

Friday, July 07, 2006

House prices in surprise fall

The fear of rising interest rates and the knock on effect of bigger bills and rising employment has led to the biggest monthly fall in house prices in six years.

Halifax, Britain's biggest mortgage lender, reported today that the value of the average home dropped by 1.2%, or £2,093, to £176,509. It said it was the largest monthly decrease since October 2000.

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Wednesday, July 05, 2006

Chronic Shortage' Of Housing For Young Families

Young families are facing a chronic shortage of suitable housing as a result of Government planning policy, a property website claimed. said people with small children generally wanted semi-detached or detached properties that gave them more space, a garden and ample parking. But it said the Government's planning policy demanded that developers built high density housing, forcing them to build apartments rather than detached or semi-detached homes.

It said apartments currently made up 59% of all new homes built across the UK, compared with just 42% in 2004, and the proportion was rising. The group said the average cost of a semi-detached house had risen by 11.5% during the past year, compared with an average price increase across all types of property of just 1.3% during the same period. It said the figures suggested semi-detached homes were in demand, and warned their cost would continue to soar if this demand was not met, pricing many young families out of the market.

David Bexon, managing director of, said: 'It is about time the Government specifically addressed the demand for particular types of housing.'Homebuilders have increasingly less choice in the types of properties that they build and are constantly restricted by the Government's insufficient planning policy. 'The Government needs to work more closely with developers to better understand the housing demand in specific regions, in order to build homes to suit every demographic.

Monday, July 03, 2006

What do we get for our money

With house prices the way they are it's hardly surprising that first time buyers can't afford to get their foot on the property ladder today.

This house is in Findern, Derbyshire just an example on how prices have increased over the last few years.

If you want to see how much your house was before you bought it check out this link >>>

Baby boomers priced out

Almost a quarter of the baby boom generation do not own their own home with many of them unable to afford to buy.

New research, released today, has shown that struggling first-time buyers are not just those in their 20s and 30s, with almost half of the over-50s who are not owner-occupiers wanting to buy but priced out of the market.

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The quickest way to buy a house

In an age when people are used to instant decisions and 24-hour service, buying a home can be a frustratingly slow process.

Househunting can be done at the tap of a mouse button, viewings are arranged by email and estate agents are competing to be available seven days a week, but once an offer is accepted the pace becomes pedestrian. From offer to completion the homebuying process takes on average eight to 12 weeks.

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