Tag Archives: australia
House prices in England and Wales up 0.9%, month on month, latest index shows
House prices in England and Wales increased by 0.9% in April and 5.1% year on year to an average of £179,817, according to the latest index from the Land Registry. But price are still below the peak of the market in November 2007 when prices averaged £181,014. The April data also shows that the London market continues to grow with prices up 2.3% month on month and 10.9% year on year, taking the average price of property in the capital to £474,544. The North East saw the only annual price fall with a decrease of 0.6%. However it is Yorkshire and the Humber which has experienced the greatest monthly price rise with growth of 2.7% while Wales saw the largest monthly decrease with a fall of 1.1%. Overall the number of property transactions has decreased over the last year. From November 2013 to February 2014 there was an average of 73,156 sales per month. In the same months a year later, the figure was 64,196. Government investment in the north of England could be responsible for the boost in some northern regions, according to experts. According to Nicholas Leeming, chairman of national estate agents Jackson-Stops & Staff. ‘London continues to outperform the rest of the country, even though sales levels over £1 million were down year on year in February, probably due to the threat of mansion tax. But increased investment in Yorkshire, Humberside and the evolution of the Northern Powerhouse in Manchester have contributed to a surge in confidence in these areas. Greater Manchester is shaping up to be a great place to invest as major London companies continue to establish a presence in the City,’ he explained. Continue reading
New home sales in Australia up every month so far this year
New homes sales in Australia have increased in each of the first four months of 2015, according to the latest survey of the country’s largest volume builders. However, the increase of 0.6% in April was the slowest growth pace of the four months, the new homes sales report from the Housing Industry Association shows. But HIA chief economist Harley Dale said that this is still a strong result off the back of a healthy March quarter. The April result for total seasonally adjusted new home sales comprised of two small gains, a 0.4% rise for detached house sales and 0.9% growth for multi-unit sales. ‘The profile for new home sales in 2015 is consistent with a new home building cycle where further upward momentum resides largely in the multi-unit sector and where the eastern seaboard states are driving the further growth,’ Dale explained. In terms of detached house sales, both New South Wales, Victoria and Western Australia posted monthly gains in April but Queensland recorded a disappointing decline, according to Dale. Sales in South Australia continued to weaken and are at an 18 month low. A breakdown of the figures show that in April 2015 private detached house sales increased by 7.2% in New South Wales, by 2.7% in Victoria, and by 0.9% in Western Australia. Private detached house sales dropped by 9% in Queensland and were down by 1.9% in South Australia. In the April 2015 quarter detached house sales increased in by 0.5% in New South Wales and by 7.4% in Victoria but declined by 4.7% in South Australia, by 4.4% in Queensland and by 1.6% in Western Australia. ‘This profile is broadly consistent with our forecasts for detached house commencements, with the exception of Queensland which is looking weaker than we were expecting,’ said Dale. Continue reading
UK first time buyers waiting longer to get on housing ladder, new research suggests
First time buyers in the UK are having to wait longer than planned to take their first step onto the property ladder according to new research. Some 65% have had to wait longer than they hoped to move into their dream home, while only 8% managed to become a home owner quicker than planned, the first time buyer’s survey from Clydesdale and Yorkshire Banks shows. The figures show a slight improvement on the previous 12 months when 68% had to delay getting on the property ladder, however the largest percentage, 17%, of those who are unable to meet their home ownership deadline are waiting between one and two years longer than planned. The challenge to get on the property ladder means that the majority of new home owners plan to stay in their first property for a number of years. Some 21% plan to stay for between four and five years with 19% having no intention of moving from their home for nine to 10 years. In both the Midlands and the North East the largest percentage plan to stay in their first home for between nine and 10 years in comparison to London, South West and Wales where the highest number aim to keep the keys to their first home for between three and four years. ‘Clydesdale and Yorkshire Banks have extensive experience of helping first time buyers get onto the property ladder and we know how difficult it can be to buy your first home,’ said Steve Fletcher, director of retail banking. ‘It is positive that our research shows that there is a small improvement on the previous year, however almost two thirds of first time buyers still face challenges in meeting their own timescales for being a home owner,’ he added. Clydesdale and Yorkshire Banks are currently offering a range of first time buyer mortgages with a £1,000 cashback. These include a three year fixed rate mortgage with a 90% LTV with a rate of 3.59% and a three year fixed rate mortgage with a 95% LTV and rate of 4.89%. Continue reading
