Tag Archives: london
UK homes market sees more properties coming up for sale online
The number of UK home owners putting their properties on the market online has increased by 7.1% in the past month compared to the previous month, the latest research shows. Some 67% of major towns and cities in the UK have seen a rise in the number of new properties being marketed in the same period, according to the data from online estate agents House Simple. The index, compiled from the number of new properties listed every week on the property portal Rightmove in more than 100 major towns and cities across the UK and all the London boroughs, also shows that although new stock levels remain low overall across the country, home owners are finally starting to put their homes on the market. The largest increases in new listings in the past month compared to the previous month was in Swindon with growth of 47.3% followed by Liverpool and Leicester, both at 30.4%, then Lancaster at 24.3% and Sunderland at 22%. Next came Halifax at 21.1%, Coventry at 21.1%, Hereford at 19%, Lincoln at 17.6% and Oxford and Dundee both at 17.5%. These towns and cities were followed by Edinburgh and Blackpool at 17.2%, Hartlepool at 17.1% and Bolton at 16.3%. The figures also reveal a distinct north/south divide, with home owners in the north of England and Scotland appearing to be more active in June and July in marketing their properties. Nine out of 15 of the new property listings risers are in the north of England or Scotland, while four towns/cities in the Midlands also feature in the list. Winchester saw the biggest drop in new properties coming onto the market in the past month compared to the previous month with a fall of 17.9%, followed by Hull down by 13.7%, Doncaster down by 12.5% and Cambridge down by 8.7%. Next came Nottingham with a fall of 8.1%, Torquay at 7.6%, Grimsby at 6.2%, Norwich at 5.8% and Glasgow at 5.7%. The London property market has slowed in recent months. However, Rightmove figures analysed by HouseSimple reveal that the capital has seen an 8.1% increase in new properties being listed in the past month compared to the previous month. Some 78.1% of London boroughs have seen an increase in new properties being marketed in the past month and the biggest rise was in the City and Westminster at 29.5%, Islington at 28.8% and Southwark at 27.1%. Meanwhile the biggest fallers have been Bromley, down 11.2%, Kingston upon Thames down 6.6% and Havering down 4.4%. ‘A stampede of sellers coming to market was expected after the General Election result, but that stampede never materialised. In fact, for the first few weeks there appeared to be a fair amount of caution and reluctance amongst sellers to market,’ said Alex Gosling, chief executive officer of House Simple. ‘This may have been a case of waiting to see if property prices might start to rise rapidly with the confidence generated by a stable, majority government. Now it… Continue reading
Property sales in Spain reach three year high
Residential property sales in Spain increased in May to their highest level for three years, according to the latest official figures. But there is an ongoing collapse in new home sales, the data from the National Institute of Statistics (INE) shows. Overall there were 26,455 homes sale in May, up 5% on last year and 11% on the year before that. But a breakdown of the figures shows that the increase came from the resale market, up 34% over 12 months, whilst new home sales fell 42% to just over 6,000. According to Mark Stucklin, of Spanish Property Insight the overall picture is one of a recovery in demand for property in all areas where foreigners tend to buy, but with the market hamstring being a lack of attractive new homes for sale. However this could be about to change. Demand is growing for new homes in Marbella, for example and developers are building again. Land is in high demand and for the first time in almost a decade residential, commercial and tourism projects are under construction and market sentiment is increasingly positive, according to Pia Arrieta, partner at DM Properties Knight Frank Marbella. ‘Genuine interest in good value, good quality, well located plots of land is on the increase. Land prices in Spain climbed 5.2% during the last quarter of 2014 and sales increased significantly compared with the same period in 2013,’ said Arrieta. Arrieta explained that the strong pound is encouraging UK buyers who are considering a broader range of investments, but northern Europeans, particularly those from Scandinavia, the Benelux nations, Germany and Russia are also ranking highly among those choosing to build their dream homes on the Costa del Sol. ‘The demand for land stems from a growing appetite amongst end users’ for turnkey, contemporary products with the latest gadgets and luxuries. Competitive construction costs and the decline in land prices in recent years has spurred developers on,’ she pointed out. ‘Marbella’s accessibility along with continuing investment in the town such as its new boardwalk and the increasing number of top rated restaurants are also encouraging new development,’ she added. According to Knight Frank’s head of sales in Spain Christian de Meillac this upturn in demand has also been replicated in registration figures. ‘In the first half of 2015 Knight Frank has seen a 65% increase in new applicants registering their interest in Marbella compared with the same period last year,’ he said. ‘Buyers are seeing value again. Prices have come down, the exchange rate is favourable and buyers are seeing long term growth potential,’ he added. Continue reading
Property prices in England and Wales up for second month in row to new record
The price of UK properties being put up for sale has increased for the second month in a row by 0.1% taking the average price to a new record high of £294,542, the latest index figures show. But there has been a sharp drop in the number of new sellers, adding to an already diminishing supply of homes for sales and a shortage of people trading up, according to the July market report from Rightmove. Year on year prices are up 5.1% but the headline figures hide considerable regional variations. In Wales prices are down 1.7% year on year but up 1.5% month on month, taking the average price to £177,280. Annual growth is small in the North East at 0.9% but monthly growth is 2.1%, taking the average price to £147,251. In the West Midlands annual price growth is 3.2%, taking the average price of a home to £200,129 but the region saw a 0.5% fall month on month. In neighbouring East Midlands average prices have climbed 7.4% year on year and 1.2% month on month, to an average of £313,255. The South West has also seen prices fall month on month, down 0.6% but prices are still up 2.9% year on year to an average of £286,155. Elsewhere in the south growth has been largely positive. In the South East prices are up 5.8% year on year and 0.4% month on month to £386,988 and in Greater London they are up 7.8% year on year but down slightly by 0.2% month on month to £615,115. The East Midlands, the North West and Yorkshire and Humber, areas where price growth has struggled to keep up with other parts of the country, have seen positive growth. In the East Midlands prices are up 4.2% year on year and 0.7% month on month to £190,192 and in the North West they are up 2.7% year on year and 0.1% month on month to £176,277. Meanwhile in Yorkshire and the Humber average prices have increased by 2% year on year and by 0.8% month on month to an average of £172,412. Indeed, the number of new sellers is down 10.6% compared to 2014 and this comes at a time when demand is high. Rightmove reports that visits and enquiries to agents are both up 22% on last year. The shortage is most acute for smaller homes with two bedrooms or fewer, where Rightmove sees the biggest demand in excess of supply. According to Miles Shipside, director and housing market analyst at Rightmove, the drop in new homes for sale could be due to the onset of the seasonal summer slowdown, and buyers’ constraints in affording record prices. He said that the latter underlines the need for more new build homes that are affordable, of the right type and in the right locations and emphasises the importance of the recent government announcement on speeding up residential planning permissions aimed at boosting supply. ‘Another month, and… Continue reading
