Property news roundup: House prices up £1,200 in April
Plus, changing your locks, the future for buy to let landlords, and the MMR effect
Alex Johnson has been part of The Independent's online team since 2007. He has been writing about microarchitecture on his internationally-acclaimed Shedworking blog since 2006 and is the author of Shedworking: The Alternative Workplace Revolution. His latest book is Bookshelf, published by Thames & Hudson.
Friday 09 May 2014
In the latest house price index, LSL Property Services estimates that house prices in England and Wales rose £1,200 in April, a new record making the average house price now £263,113. This figure is £54,000 higher than the recession low point in April 2009.
The figures suggest that East Anglia is now the third region, after London and the South East, where house prices have risen above their pre-recession peak.
"As the floods and bad weather at the start of the year become a distant memory, sales in April have returned to more normal levels," said David Newnes, director of Reeds Rains and Your Move estate agents, owned by LSL. "Total house sales stand 40 per cent higher than at the same point last year, totalling 72,000 in April. Activity is largely being fuelled by increasing numbers of purchases by first-time buyers and buy-to-let landlords, as consumer confidence sweeps the country.
"Considering the regional picture, while London may be forging the way with 13 per cent annual house price growth, the rest of the country is definitely following the trail. Growth is emanating out from the capital, and prices and activity are progressing steadily across all regions. Lincolnshire, Northamptonshire and Nottingham all witnessed house price inflation above the national average."
Figures from The Master Locksmiths Association indicate that the average adult in Britain will move home eight times in their life but that 58 per cent of them do not change any of the locks to their new property. Only around a third of movers change the locks to all external doors, and only 12 per cent install a new lock on the home’s main entrance.
House purchase lending fell for the third consecutive month in April, according to e.surv chartered surveyor.
There were 63,170 house purchase approvals in April 2014, 6 per cent lower than in March which means that house purchase approvals have fallen 17 per cent over the last three months. However, compared to a year ago, approvals are still more than 15 per cent higher.
Richard Sexton, director of e.surv said: "The new MMR regulations introduced last month have temporarily slowed lending in the market. Borrowers must now prove that they can withstand potential interest rate rises up to seven per cent, as well as answering a host of detailed questions about future finances."
The future for buy to let landlords
New research from specialist lender Precise Mortgages shows that more than a quarter of buy to let landlords plan to keep their portfolio beyond retirement. The report also shows that three in ten people became landlords after inheriting a property and chose to let it out, a fifth moved in with a partner who already owned a home, while one in seven let out a property they were unable to sell.
Alan Cleary, Managing Director of Precise Mortgages, said: "Contrary to popular belief that buy to let landlords are mere 'speculators', many landlords are in it for the long term."
A two-bedroom flat with boutique hotel-style interiors, close to the foodie haunt of West End Lane
A two-bedroom flat in a beautiful old vicarage, with many original features, close to the city centre
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens
A seven-bedroom Grade II-listed property with a separate self-contained apartment
A five-bedroom Victorian house with three reception rooms and galleried landing, £695,000
A six-bedroom farmhouse with five acres of land in a former cloth-making village
A secluded seven-bedroom detached house with large private garden, £490,000
A three-bedroom cottage overlooking Sarratt village green with open fires and solid oak floors
A three-bedroom maisonette flat in a Grade I-listed, Georgian townhouse in a sought-after location
A one-bedroom apartment located within a private gated development, north of Turnham Green
Look forward to a brighter future at two-bedroom Sunny Cottages, ideal for Londoners looking to downsize
A three-bedroom red-brick cottage with outbuildings and pretty gardens, £200,000
This three-bedroom flat within a former textile factory spans the corner of the fourth floor and has a balcony
A charming four-bedroom Oxfordshire cottage with oak floors and chunky-beamed ceilings, £465,000
A beautiful one-bed flat in a sought-after portered block, with access to Norland Square communal gardens
A one-bedroom flat within a Sixties school conversion with high-spec design and open-plan kitchen, close to Lambeth North Tube, £435,000
A 17th century four-bedroom house, with open fireplaces, cellar and pool, £600,000
A three-bedroom, coach house with luxury open-plan living space and contemporary breakfast bar
A newly refurbished one-bedroom flat in the heart of Mayfair, close to Grosvenor Square
A charming four-bedroom house overlooking Burleigh Square Park, close to Thorpe Bay
A three-bedroom farmhouse with a large inglenook fireplace and exposed beams
A boutique mews house, set around a central courtyard, with three bedrooms and a private roof terrace
A four-bedroom farm-conversion with three bathrooms and two reception rooms
Life & Style blogs
The secret report that helps Israel hide facts
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
A day in the life of Vladimir Putin: The dictator in his labyrinth
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Boozy, ignorant, intolerant, but very polite – Britain as others see us
- 1 Disney heiress Abigail disowns her share of family profits in West Bank company
- 2 The secret report that helps Israel hide facts
- 3 'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
- 4 Israel's propaganda machine is finally starting to misfire
- 5 HSBC closes bank accounts belonging to Muslim clients in the UK
competitive: Progressive Recruitment: SAP PROJECT MANAGER - 3 MONTHS - BERKSHI...
competitive: Progressive Recruitment: SAP PROJECT MANAGER - 3 MONTHS - BERKSHI...
£600 - £700 per day + competitive: Orgtel: Senior Investment Accounting Change...
£65000 - £75000 per annum + benefits: Progressive Recruitment: A rare opportun...