News: July 2016

SALES NEWS: Two more surveys suggest Brexit has not affected the housing market

29/07/16

There are more market indicators suggesting that house prices are not suffering as a result of the Leave vote in the EU referendum. Business consultancy PricewaterhouseCoopers says house prices will not crash; it believes they will grow three per cent on average across the UK this year and by one per cent in 2017, before picking up again in 2018 to around four per cent. Meanwhile the…

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NEWS: Housing demand to soar in Exeter as population set to grow

29/07/16

Demand for housing in Exeter – both by owner occupiers and by tenants – is likely to rise sharply in the long term according to new figures showing likely population growth. Durham University, regarded as a leading authority on demographics, says Exeter’s population of just over 127,000 today is likely to rise to almost 135,500 in 2026 and then go on to become over 143,000 by 2036.…

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SALES NEWS: Boost expected for holiday home owners who let to tourists

26/07/16

Business analysts suggest there are likely to be more ‘staycations’ – Britons holidaying in this country – meaning good news for second home owners who let out to tourists. Research from Deloitte, a business consultancy, and ABTA, the trade body for travel agents, says 76 per cent of holidays taken by Britons in recent years have been to countries using the Euro as currency. The Pound has…

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SALES NEWS: More choice for buyers as market settles and homes come on sale

26/07/16

Asking prices for homes on sale across the south west of England have risen 5.2 per cent in the past year according to Rightmove, the biggest property portal. Rightmove’s latest figures, for mid-June to mid-July, show a stable market with no significant movement in prices as a result of the referendum. Across the whole of the UK there has been a six per cent increase in the…

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SALES NEWS: Housing market remains calm after the referendum vote

12/07/16

So far the housing market both in East Devon and the UK as a whole appears not to be showing any adverse effects following the decision to leave the European Union. An analysis of 750,000 homes on sale across the UK on referendum day, June 23, shows 41.5% were under offer at that time. A more recent analysis on July 6 shows an increased 771,000 homes were…

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LETTINGS NEWS: ‘Go it alone’ landlords need information and support, new survey shows

12/07/16

Amateur landlords who manage their own properties admit to not being up to date on changes to regulations, and typically feel a lack of support in how to deal with tenants. That is the conclusion of a survey of landlords by the Tenancy Deposit Service, a lettings industry body. It discovered that most amateur landlords – many of which are typically over 50 and have only one…

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LETTINGS NEWS: New landlords must show rent will cover 145% of mortgage payments

01/07/16

Another lender, the TSB, has changed its rules regarding buy to let mortgages. Like several other finance houses, it now requires landlords to show that the rent they will receive on a property will cover 145% of the monthly mortgage payments. This is because banks and building societies want a stable market where landlords, especially new ones, do not over-stretch themselves and find that a lengthy period…

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SALES NEWS: A buyer will make up their mind to buy your house within a few minutes

01/07/16

It sounds like a cliché but when it comes to selling your home, first impressions really do count – and now there is evidence to prove it. A survey of 1,000 buyers by house builder Harron Homes reveals that over 43 per cent of buyers make up their minds whether to make an offer on a home for sale within five minutes of arriving; another 40 per…

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