The price of a new-build flat drops on average by more than one-quarter when resold, according to data from auction houses that also confirm the rise in socalled “distressed” sales. Financial Times (Saturday) Property Week, 31 March 2008 According to data analysing sales over the past three years, the average price drop between official Land [...]
Buy-to-let landlords and freelances are facing a clampdown. Amateur landlords and taxpayers with small amounts of freelance earnings could find themselves hit with hefty penalties under powers in a new parliamentary bill. Neasa MacErlean The Observer, Sunday March 30 2008 Under the proposals – included in last week’s Finance Bill – tax inspectors could have [...]
Newsletter – The UK Landlord & The Economy – March 2008 Issue 28 Welcome to the March 2008 edition of the LandlordZONE® Newsletter. Download the Full Newsletter With the continuing turmoil in the financial markets as I write the question now is not if there will be problems with the economy in general and property [...]
The British Property Federation has made a last ditch attempt to halt the introduction of empty rates legislation and warned Chancellor Alistair Darling it was the ‘most significant threat to the property industry in recent times’. Deirdre Hipwell, Property Week – 27 March 2008 BPF’s chief executive Liz Peace, who also spoke on the Today [...]
Planning minister Iain Wright has promised to protect high street retailers with changes to planning laws that will ‘promote competition and improve consumer choice’. Mark Jansen, Property Week – 27 March 2008 Speaking in the House of Commons yesterday, Wright said the government will soon publish a revised version of PPS6, the planning policy for [...]
The specialist BTL broker Mortgages For Business is reporting that the new criteria changes amongst the UK’s BTL lenders will affect funding for newly renovated properties and the deposit size now required… First Rung – 28 March 2008 New builds; flats or houses built or converted in the last twelve months, have been a particular [...]
High street spending remained subdued this month as the housing slowdown tightened its grip on consumer confidence, a survey indicated. Channel 4 News – 28 March 2008 Sales of “big ticket” household goods such as washing machines and fridges were sharply lower, although the CBI’s latest distributive trades survey still showed that a balance of [...]
The Nationwide now predicts prices will fall this year. Annual house price inflation has fallen to its lowest rate for 12 years, according to the latest survey from the Nationwide building society. It said prices fell by 0.6% in March, taking the average UK house price down to £179,110. That meant that the annual rate [...]
A full-blown recession on these shores is now a 35pc probability as the credit crunch engulfs Britain’s housing market and broader economy, warns an authoritative report. Edmund Conway, Economics Editor, The Telegraph – 28 March 2008 The Bank of England may be forced copy the Federal Reserve’s lead and make dramatic interest rate cuts as [...]
A significant number of gangmasters supplying workers are not getting their licences because of the poor housing they offer. Inside Housing – 27 March 2008 Gangmasters Licensing Authority figures provided to Inside Housing show that 30 out of 87 refused and revocation cases failed its workers’ accommodation rule. The rule ensures that homes provided to [...]
