News Archive for 2017

A Third of Homes Have Asking Prices Slashed by £25,000, Says Portal

Asking prices are being cut more heavily than at any time in the past six years, says Zoopla.

It says just over 35% of homes listed on that site and PrimeLocation have marked down their price.

The average asking price reduction across the country currently stands at Ł25,562.

Homes in Richmond and Kingston upon Thames in south-west London have some of the largest reductions in sale prices - up to Ł84,244. Around 50% of listings in ...

Rightmove Reports Largest Monthly Asking Price Fall for Five Years

Rightmove is warning that the asking price of property coming to market has fallen by 2.6% in the past month - equivalent to Ł8,178 on an average home - and this is the largest monthly fall for five years.

The portal, in its latest monthly market snapshot, says this slump is symptomatic of what it calls “the more challenging market some sellers find themselves in”.

The portal is forecasting national average asking price growth of ...

Typical Home Sells £10,623 Below Original Asking Price

The average home in England and Wales now sells for very nearly 4% under its original asking price - a gap that is larger than this time last year.

Research by Zoopla shows that current sale prices are on average 3.86% less than asking prices - that’s around Ł10,623 in cash terms - and that this asking-to-selling price gap is 0.32%t bigger than last year.

Homes in the south east currently sell closest to the asking price – just a ...

Stamp Duty Reform, More New Homes, Possible Longer Tenancies

Stamp duty reform for first time buyers has taken pride of place in the Budget speech of Chancellor Phillip Hammond.

From today, all first time buyer purchases up to Ł300,000 have NO stamp duty, and if the FTBs are inside London there will be no stamp duty on the first Ł300,000 of their purchase.

This will make a significant impact on FTBs across the country and it's already in effect - the change started at midnight last ...

First Time Buyers Massively Over-Estimate Purchasing Costs

Two thirds of first time buyers over-estimate the cost of purchasing a home according to a survey from the NatWest.

The NatWest’s survey of 2,025 UK residents aged between 20 and 45 shows that over a third of those who don’t own a property today believe they will never be able to afford one; and an overwhelming 82% of those questioned believe Brexit to be damaging their chances of buying.

However, most striking in the survey is how ...

Asking Prices Show Biggest October Rise Since 2014, Says Rightmove

Asking prices have risen by an average of 1.1% or Ł3,432 in the past month according to Rightmove.

This is the largest October rise since 2014.

However, the portal warns that the with more sellers chasing fewer buyers, this month’s 104,000 new-to-the-market sellers will have to work harder to find a buyer.

“It will be harder for this Autumn’s sellers to secure a sale because buyers have more choice with a 3.1% increase in new ...

Some Mortgage Costs Rising Already, Anticipating Base Rate Hikes

Respected mortgage market monitor Moneyfacts says that the costs of some mortgages are already rising in the expectation of a base rate hike, even though the Bank of England has left the rate unchanged for the moment at least.

Moneyfacts says the average two-year fixed mortgage rate has increased to 2.24% after a 0.04% rise in the first week of this month.

“The higher inflation figure announced on September 12, coupled with the Bank ...

Suspended Jail Sentence After Failing to Maintain Gas Appliances

A landlord from Cornwall has been fined after failing to maintain gas appliances at his rental properties in Launceston.

Truro Crown Court heard how gas appliances in the two properties went unmaintained and were not inspected by a registered Gas Safe Register engineer.

An investigation by the Health and Safety Executive found the landlord, David Bush, failed to obtain Landlord Gas Safety Records after May 2014. It was also found that ...

Rents Edging up Across Britain

Average rents for newly-let property across Great Britain rose to Ł954 per month in August, reflecting a 1.6 per cent annual increase according to Countrywide.

Rents increased the most in the South West - up 4.7 per cent - and they rose 2.8 per cent in Scotland and 2.5 per cent in the East of England; London rents grew for the second consecutive month and are now up 1.8 per cent year-on-year.

Countrywide’s research director Johnny ...

Brexit and Election Result are Stopping People Moving

One of the country’s leading buying agents says over six million people are living in the wrong property because they are anxious about moving home in a period of political uncertainty.

James Greenwood of Stacks Property Search says historically the property market used to stagnate temporarily thanks to General Elections, Budgets and other major political events.

“But since June 2016 we have been in a permanent state of political ...

Massive Drop in Prime Central London Sales in One Year

Sales in prime central London in the year to the end of March are a huge 41% below the previous 12 months, according to an investment consultancy which has analysed Land Registry figures.

Despite this, average prices have recorded a slight increase despite Brexit and stamp duty, according to Central London Portfolio.

Average prices reached Ł1,914,789 following quarterly price growth of 4.6 per cent over the first three months of this ...

Top Move Launches New Website!

A very special thanks to all our team, particularly our admin staff, and the team over at Estates IT for their amazing work over the last few weeks to make all this possible. Without the combined efforts of all of them, this website would not exist today.