Property News In Leeds

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Mortgage Approvals 15 January 2021

* Mortgage approvals have all but recovered following the forced closure of the housing market in spring 2020. Mortgage approvals were only down -0.9% (January to November 2020) compared to the same period in 2019.

* 104,969 mortgages were approved in November 2020, the highest level since pre-Global Financial Crisis.... Read More

What`s ahead? 31 December 2020

* What will the New Year bring? Dataloft consensus house price forecast, based on the average from five leading commentators, expects 0.9% growth in 2021.

* Published forecasts for 2021 range from mildly negative to strongly positive. Rightmove forecast a 4% rise in 2021, Zoopla 1%, Knight Frank 1%, Savills 0% and JLL -1.... Read More

Residential Rents Rising 31 December 2020

* ONS reported a 1.4% annual increase in private rents in November and according to agents, tenant demand was more or less unchanged.

* All regions saw an increase in private rents. The South West saw the biggest annual increase, 2.3%. Scotland had the smallest annual increase, 0.... Read More

House price growth pushed to the highest level in 4 years 19 December 2020

* The latest ONS data shows that UK house prices have increased by 5.4% to £245,443 in the year to October 2020. The surge in sales agreed over summer has pushed house price growth to the highest level in 4 years.

* House prices in the East Midlands, Yorkshire and the Humber and the North West saw the largest annual increase, 6.... Read More

Single family housing 18 December 2020

* Across England and Wales, almost half (43%) of all private rental sector properties (both houses and flats) fall within Dataloft"s definition of suburban areas, 41% urban and 16% rural.

* Suburban renters are more likely to live in houses (58%) than urban renters (32%).... Read More

Home movers tempted by new build property 10 December 2020

* Almost half of home movers will consider buying a new build property according to the Property Academy Home Moving Trends Survey 2020, analysed by Dataloft.

* Energy efficiency is the main reason why home movers would purchase a new build.... Read More

Housing market adds to the economy 04 December 2020

* For every residential property resale, an average of £9,559 is added to the UK economy. That is an estimated £6bn added to the UK economy so far this year.

* On average £5,400 is spent on renovations and new household goods, £3,100 on estate agency and legal fees and the rest comes from spending on removals and property surveys.... Read More

Sales head up while sale time heads down 20 November 2020

* Demand levels and sales activity remain bouyant in the UK housing market. Rightmove report agreed sales were up 50% in October, with properties selling (sold SSTC), in just 49 days, 15 days faster than a year ago.

* Buyer demand across England was 49% higher year-on-year during the first six days of Lockdown 2.... Read More

Fisrt Time Buyers 18 November 2020

* The average mortgage for a first-time buyer across the UK is just shy of £194,000, as FTB numbers fell 29% in the first half of 2020 versus 2019.

* The average deposit for a FTB is now £47,059, purchasers requiring a mortgage at 80% LTV. There are 52% fewer 80%+ LTV products available on the market now than in March, 12% fewer than in July.... Read More

Reasons for renting 12 November 2020

* According to The Property Academy Tenant Survey 2020, just over half of tenants rent because they can"t afford to buy and almost half rent to suit their lifestyle.

* Stepping onto the property ladder is hard and Covid-19 has added to this with stricter lending criteria.... Read More

Whats the ideal length of a lease? 11 November 2020

* There is a substantial mismatch between current lease lengths and ideal lease lengths. However, there is more to it than that. Opinions on ideal lease length vary with age and household types.

* For renters aged over 45, the ideal lease length for most is 24 months plus, actual lease length is most often 6 to 12 months (61%).... Read More

Housing market activity breaks records 06 November 2020

* Nationwide October House Price index reported an astonishing 5.8% annual house price growth, the highest rise since January 2015. Mortgage approvals were at their highest since September 2007, with 91,454 in the month.

* Data suggests the recovery of the economy has slowed with only 2.... Read More