In the news... February

Thousands attend Housing Options Affordable New Homes Show -

Housing Options - jointly delivered by London housing associations and HomeBuy Agents, L&Q and MHO - held the London Affordable Homes Show on Saturday 6th February in Westminster and saw over 4,000 Londoners attend to find out about affordable home ownership in the capital.

http://www.housingoptions.co.uk/ho2/ho2/news_detail.asp?newsid=168  

In the news... January

End of stamp duty caused 2-year December high in first time buyers -

The CML has also released data this week showing that first time buyers rushed to the market in December, in a bid to beat the changes to stamp duty. The number of loans to first-time buyers hit a two-year high in December 2009, driven by a rush to buy properties in the £125,000 - £175,000 bracket before the year-end stamp duty concession expired, according to figures released b the CML. They have also produced a report about first time buyers and mortgage lending, available from their publications page.

http://www.cml.org.uk/cml/media/press/2543  

In the news... December

Nationwide say house prices rose 0.4% in December and 5.9% over 2009 -

Commenting on the figures Martin Gahbauer, Nationwide's Chief Economist, said: House prices rose by a further 0.4% in December, continuing the recent trend of moderate month-on-month increases… At £162,103, the average price of a typical UK property has ended the year 5.9% higher than at the end of 2008. Few could have foreseen this development at the start of the year, when the near term price trend was still pointing to a repeat of the double digit annual decline experienced in 2008. Although house prices are still 12.2% lower than their October 2007 cyclical peak, they have now rebounded by an impressive 8.9% since their February 2009 trough.

http://www.nationwide.co.uk/hpi/historical/Dec_2009.pdf 

In the news... November

Stamp Duty holiday to come to an end -
The Stamp Duty holiday brought in by the government to temporarily remove stamp duty on homes costing between £125,000 and £175,000, is due to end on 31 December. The Government brought in the relief as part of a package of measures designed to stimulate the economy and housing market as the recession took hold.

Shared Owners will have the option to choose from two options when paying their stamp duty. The first will be to pay the SDLT on 100% of the value of their property at the initial purchase stage which could mean an extra upfront cost upwards of £1,250 depending on the exact price of the home they buy.. The second option is to pay in stages, with SDLT only being paid on the initial share purchased if this falls within the banding. The property would then not be eligible for any further payments until the owner had reached 80% ownership.

For further advice on Stamp Duty Land Tax for affordable housing you can visit http://www.hmrc.gov.uk/sdlt/transaction/shared-ownership

In the news... October

First time buyer demand increasing -
Demand from first time buyers is rising, while buy to let investors are now gravitating towards houses than flats, says RICS' latest housing market research. The RICS' new buyer enquires series has reported a positive net balance for 11 consecutive months. Additional questions in the August Housing Market Survey focused on the issue of fi rst time buyers. Surveyors report ed that 13 percent of new enquiries derived from first time buyers with a net balance of 28 percent reporting that the number of first time buyer enquiries had increased over the past three months.

http://www.rics.org/site/scripts/press_article.aspx?pressreleaseID=138

Brownfield usage for new homes up 3% -
The number of homes built on brownfield land in England rose by 3 percentage points between 2007 and 2008, according to official figures from the Department of Communities and Local Government. Eighty per cent of dwellings, including conversions, were built on previously developed land last year, compared to 77% in 2007, Land Use Change data from the UK Statistics Authority shows.

http://www.communities.gov.uk/documents/statistics/pdf/1362889.pdf

In the news... September

INplace have won the award for the 'Most Innovative Marketing Approach' at the Affordable Home Ownership Awards 2009 -
On the back of our Butlins themed marketing campaign at Grand Ocean in Brighton encouraging First Time Buyers to 'Break the Rules' we have been awarded our first housing award.

To experience Grand Ocean for yourself visit ur website at www.gograndocean.co.uk or call 01273 390 317 and speak to our sales team

House Prices rise most since 2004 -
House prices in England and Wales rose by 1.7% in July compared with June - the biggest monthly leap in value since July 2004, the Land Registry said. Every region recorded a monthly rise in prices, with the average home valued at £155,885, the analysis found. But prices were still 11.7% lower in July than they were in the same month a year earlier and sales were also down.

http://www1.landregistry.gov.uk/houseprices

Mortgages approved for house purchase jumps to 17-month high -
The number of mortgages approved for house purchase jumped to a 17-month high during July as buyers continued to return to the property market. A total of 38,181 loans were approved for people buying a home, 77% more than in July last year and the highest level since February 2008, according to the British Bankers' Association. There was also a rise in total mortgage advances, with £8.4bn lent during the month, up from £8.1bn in June. But despite the increase the BBA said the figures were below seasonal expectations. They said the slower housing market activity meant it was taking longer for the mortgage approvals for house purchases to work through into the gross and net lending figuers.

http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=145&a=16458

In the news... August

House Prices up for third month in a row -
The Nationwide index rose by a seasonally-adjusted 1.3% in July, the fourth rise in six months. Julys rise left house prices 14.6% lower than their late-2007 peak, 6.2% lower than a year earlier and 1.3% higher than at the start of the year. Nationwide have said they believe there is a "reasonable chance" that house prices could end the year higher than they started 2009. Capital Economics warn that the shortage of properties on the market is driving this rise, and that it is not sustainable because new sellers will eventually be enticed back to the market.

http://www.nationwide.co.uk/hpi/historical/Jul_2009.pdf

Mortgage approvals rose in June according to The British Bankers' Association -
Mortgage approvals rose in June to the highest level since March 2008 as the property slump showed sign of easing and banks became more willing to lend, according to The British Bankers' Association. Loan approvals for home purchases increased to 35,235 from 31,919 in May, the British Bankers' Association said today in a statement. The level has almost doubled in seven months.

http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=145&a=16351

Tightening in market conditions boosts near-term price expectations -
Housing market activity, has continued to rise in July. The monthly increase in the agreed sales net balance pushed that measure to its best level in a decade.

http://www.rics.org/Practiceareas/Property/Residential/Market/hms_r_july09_110809.htm

In the news... July

Buyers Enquiries On The Rise -
According to the RICS housing market survey in June, the balance of surveyors reporting a rise in buyer enquiries over the month rose from +50 in May to +67. The agreed sales balance also rose (from +27 in May to +41), while the sales expectations balance remained in positive territory, albeit slightly lower than in May. However, those balances track only the directions of any changes, not the extent of that change. The number of completed sales per surveyor indicates that activity remains at exceptionally low levels. Indeed, while they rose from 11.7 to 12.7 in June, completed sales remain less than half their levels in early 2007.

http://www.rics.org/Practiceareas/Property/Residential/Market/hms_jun_09.htm

Fall In House Prices Slowing -
A shortage of homes on the market is slowing the rate at which house prices are falling, figures showed this week. The average property lost just 0.1 per cent of its value during May, following a strong increase of 1.1 per cent in April, according to the Department of Communities and Local Government.

http://www.communities.gov.uk/publications/corporate/statistics/hpi052009

Homes 'May Rise In Value In 2009' -
The UK's largest building society believes there is a "reasonable chance" that house prices could end the year higher than they started 2009. Such an outcome was "unthinkable" a few months ago, the Nationwide's chief economist said. The Nationwide's latest house price survey showed prices rose by 1.3% in July compared with the previous month. The average UK home costs £158,871, with the annual rate of property value falls slowing sharply to 6.2%, it said. The three-month on three-month comparison of property prices - considered a less volatile measure than the monthly data - rose from 1% in June to 2.6% in July. This was the highest level seen since February 2007, when the housing market was booming.

http://news.bbc.co.uk/1/hi/business/8175479.stm