News

NEWS: Yet more regulation likely on size and licensing of homes to let

24/10/16

The government has announced more regulation changes applying to landlords letting out properties – these proposals are now being consulted on but are likely to be implemented from next spring. There will be a minimum room size of 6.52 square metres for one person and 10.23 square metres for two people; the measurement would be for ‘usable’ space so would exclude any parts of a room where…

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SALES NEWS: Exeter and East Devon homes increase just over 6% in a year

24/10/16

The average home in Exeter now costs 6.2 per cent more than a year ago, while in East Devon the annual increase has averaged 6.4 per cent. The figures, released in the past few days by the Land Registry, apply to prices at the start of September. At that time the typical Exeter home, which includes Topsham, cost £239,808 and in East Devon, including areas like Lympstone…

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LETTINGS NEWS: Reputable letting agents help landlords achieve best Airbnb income

24/10/16

Airbnb is the starting point for many business travellers and tourists, and this represents a great opportunity for owners who live away and want to generate income on their home. There are now 80,000 UK homes advertised on Airbnb alone, plus a growing number on other similar websites. UK owners generated a remarkable £2.5 billion in income in 2015 and that figure is likely to be almost…

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SALES NEWS: Awards provide a boost for Exeter and East Devon housing market

24/10/16

Recent awards and announcements have consolidated the successful reputation of Exeter and East Devon – a reputation that goes hand-in-hand with a strong housing market. In the culinary world, Topsham’s Salutation Inn has won the prestigious Food and Travel Magazine readers’ award; its fine dining restaurant has also featured for the first time in the new 2017 Good Food Guide, along with the restaurant at Exeter’s Abode…

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LETTINGS NEWS: Size of rental market set to expand hugely in the next decade

12/10/16

One of the most respected property organisations, the Royal Institution of Chartered Surveyors, says the number of households in the private rental sector across the UK is set to boom – rising from 5.4 million today to 7.2 million in 2025. The private rental sector in the UK doubled in size between 2001 and 2014 and the growth is set to continue, thanks to stubbornly-high house prices…

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SALES NEWS: Mortgage market defies expectations by improving since Brexit

11/10/16

Fears that the Brexit vote three months ago would stifle the housing market have not come true with a 13 per cent increase in the number of mortgages available. The number of mortgage products is seen as a key barometer as to the health of the housing market, and research by the consumer body Which? shows that there were 4,736 different mortgage products available on referendum day,…

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NEWS: Bank of England confirms stricter rules for buy to let lending

10/10/16

The Bank of England has confirmed new guidelines tightening up how mortgage companies lend to individuals wanting to purchase a buy to let property. The new rules – heavily leaked in the press for many months, and which many finance companies already operate – mean lenders will ask for more evidence of borrowers’ personal taxation, their routine financial commitments and other existing investments. In addition there will…

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SALES NEWS: South west property prices still rising despite new house building

10/10/16

The latest housing index for the south west shows prices up 4.6 per cent over the past year. The 4.6 per cent rise is classified as “sustainable” by the Nationwide building society, which has produced the figure based on mortgages issued to house buyers in the region. The Nationwide says that although more new homes are being built in the south west, the total remains well below…

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NEWS: ‘Stability’ the watchword as housing market enters autumn

10/10/16

A series of indicators released in recent days have confirmed that both the rental and sales housing markets are stable as we enter autumn. The Royal Institution of Chartered Surveyors says the economy has settled down following the EU referendum and it predicts house prices will rise 3.3 per cent per year until 2020. Meanwhile a series of financial reports from major house builders has shown the…

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SALES NEWS: Housing market resilient as autumn sales season nears

09/09/16

There are more signs that the housing market is approaching autumn in resilient mood despite the political uncertainty of recent months. At regional level, new figures from the government show the average home in south west England now costs a record £235,000 – well above the all-UK average of £213,027. A poll of economists surveyed by Reuters news agency shows that they forecast 2016 will end with…

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