House prices more than five times earnings for first time since crisis: Strong house price growth has taken the multiple of average home values to more than five times earnings for the first time since the financial crisis.
House price inflation highest since 2007 with homes now more expensive compared to wages than at peak of the 1980s boom: House prices jumped £2,500 in July despite reports of a mortgage slowdown, and now stand 10.2% higher than they were a year ago, according to the latest figures from Halifax.
Construction body sees industry adding about £11 billion to economy: The Construction Products Association will forecast that the industry will grow about 10% and add about £11 billion to the economy over the next two years.
Raymond Mould returns to build portfolio of U.K. rented homes: Veteran property entrepreneur Raymond Mould is to launch a company that will invest in privately rented homes, his first step back into the market since he sold his previous company, London & Stamford.
The cost of renting a home in London is now double that in the rest of the UK, a new survey has found, pushing the capital "beyond the boundary" of what is affordable as wages struggle to keep up with rent rises.
Russian property tycoons with a home in London have made record returns on their investment, thanks to a combination of the capital’s recent housing market boom and a weakening rouble. The value of a luxury property in London has appreciated by 102.7pc over the last five years for Russian homeowners as the number of roubles to the pound continues to increase, according to a new report by real estate agents, Knight Frank. Russian investors have capitalised on a 71pc rise in prime central London house prices, the strong pound and the rouble’s falling star.
The rouble has weakened by a third over the last 18 months, due to tensions in the Ukraine. In comparison, a US investor who bought in London in 2009 made 95.4pc, while a British buyer made a 69pc return, due to the comparatively strong pound, the study found
London house prices up £43,115 in six months as market soars: The price of an average house in London has risen by £43,115 in the first six months of this year alone, according to astonishing figures from Zoopla, more than the annual salary of an average electrical engineer.
Rich overseas students outbid London’s bankers in a race to rent London’s luxury pads: Untidy bedsits and cramped accommodation are normally associated with student life, however in central London’s best addresses, where weekly rents can top £1,000 per week, an elite of highly-affluent, foreign under-graduates are renting luxury apartments.
Londoners face a 36% rise in stamp duty as homes are set to hit Â£500,000
London home-buyers could face a 36% jump in their stamp duty bill in the next two months as the average house price in the Capital breaches the 4% property tax threshold. The cost of the average London dwelling is rapidly approaching the Â£500,001 mark, at which point the stamp duty banding changes from 3% to 4% on the purchase price of the house.
The value of a typical home in the Capital rose 20% over the year to May and is now valued at Â£492,000. Sitting within the 3pc stamp duty banding this would cost the buyer Â£14,760 in tax.
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