How much does it cost to fix toddler damage in the home? Property news update

Plus, house prices in 2015, remortgage loans, super prime London, and renters' fees

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The Independent Online

Parents of children aged under three spend an average of £128 a year repairing or replacing items their children have damaged.

The report from Privilege home insurance show that nearly half of parents reported damage to walls such as being drawn on, and a third to floors or carpets. A fifth also said their toddlers had caused actual structural damage to doors or walls.

Halifax house price predictions

Halifax has forecast a 'further moderation' in the rise of house prices next year, anticipating they will jump another three to five per cent.

Its report says the likelihood of higher interest rates and the worsening of affordability over the past 12 months are the key factors affecting housing demand. The General Election is also predicted to provoke a lull in activity in the early part of the year.

"House price growth in the UK during 2013 and 2014 has been very much led by London and to a lesser extent the rest of southern England," said Halifax’s housing economist, Martin Ellis. "We expect to see a more even regional pattern in house price growth during 2015."

Super Prime London

In the first 10 months of this year, the number of homes sold for more than £10 million by Knight Frank in London has leapt by a third compared to the same period last year and was 92 per cent higher than in 2012. Tim Wright of Knight Frank's Prime Central London team said the higher number of transactions partly reflects an increase in interest from Russian and Chinese buyers.

Remortgage loans fall 

Number of remortgage loans fell to its lowest level for an October, down 21 per cent year-on-year to 23,505

According to the figures from LMS (Legal Marketing Services), the value of loans has also dropped a fifth, making it the lowest amount since June last year. The average remortgage loan was £149,715, the lowest amount in a year

Renters paying more than £500 to sign a lease

Letting agent fees are unclear and inconsistent according to research from Movebubble which shows that while the average fee for signing a lease on a property is £158, this figure varies hugely with some renters paying more than £500. 

Of the 1,000 UK renters questioned in the UK, 13 per cent had to pay over £300, and one per cent has paid over £500.

The most common additional charge was a renewal of contract fee, with two thirds of renters paying simply to continue living in their home. Just over half of renters have been charged for a professional clean when they moved out, and a similar number have been charged for this before they moved in.

Around six in ten renters were obliged to pay a separate fee for an inventory.

"Renters are getting ripped off by being charged ludicrously high fees for processes that cost the agent very little," said Aidan Rushby, CEO, Movebubble. "We've even heard about people being charged simply to be shortlisted for a property, without any guarantee that they’ll be able to move in.

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