News

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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SALES NEWS: A new country park set to make Exeter still more desirable

15/08/16

Exeter is famous as a green city with substantial open space, plenty of tree-lined streets, a range of well-maintained parks and easy access to vast areas of Dartmoor. Now, that reputation is to be helped by the creation of a brand new 18 acre country park. This will be on the eastern edge of the city close to the M5 and is a ‘planning gain’ in return…

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LETTINGS NEWS: Home ownership ambitions remain strong – even amongst renters

01/08/16

The desire for people to own their homes remains strong – even amongst those who are currently renting because they cannot afford to buy. A YouGov survey of over 1,000 renters conducted for the Council of Mortgage Lenders reveals that 80 per cent of private tenants would like to be adults within 10 years. The result is similar to previous surveys over the past 30 years, showing…

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SALES NEWS: Key indicator shows that buy to let sector is in rude health

01/08/16

Mortgage arrears owed by buy to let landlords are expected to fall to their lowest-ever recorded level by the end of this year. Although not widely known outside of the industry, landlords’ arrears are seen as a key indicator of the strength of the market. Keystone Mortgages, a specialist buy to let lender, monitors the lettings sector in a regular ‘health check’ by assessing lending figures from…

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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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