More than 53,000 mortgages have been completed using scheme, which encourages lenders to offer up to 95% loans
A government scheme to encourage UK lenders to offer 95% mortgages is scheduled to end this month, with no word yet on when its replacement will be launched.
The mortgage guarantee scheme went live in April 2021 to help buyers with small deposits get on the property ladder.
Continue reading...Two men linked to Sheikh Hasina prevented from selling properties, including apartments in Grosvenor Square
The UK’s serious and organised crime agency has frozen almost £90m of luxury London property belonging to two men linked to the deposed ruler of Bangladesh.
In a development that comes after mounting pressure on the UK to assist Bangladesh in tracing assets linked to the former regime, the National Crime Agency (NCA) obtained nine freezing orders, official records show.
Continue reading...Five thousand new homes alongside a paradise for newts appears to fly in face of government’s ‘false wedge’
Arriving at the Kidbrooke Village housing development in Greenwich on a morning in early spring, the first thing you notice is the sound of birdsong and the scent of blossom. Geese are gently honking in the distance.
This was once the Ferrier estate, a postwar housing estate that was demolished in 2009 to regenerate the area.
Continue reading...Tougher conditions for first home buyers – and renters, who are now often spending more than those with mortgages
National home prices hit a new peak in March as February’s rate cut reignited buyer demand, according to separate reports from Australia’s leading property analytics companies.
Property values increased 0.4% over the month – the second consecutive month of growth in the national index, CoreLogic reported, after a brief three-month decline where values dipped 0.5%.
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Continue reading...Average property price dips to £298,602 in February despite analysts expecting rush before stamp duty rises
UK house prices unexpectedly fell last month as concerns over the sluggish economy outweighed an anticipated rush of people trying to complete purchases before stamp duty increases in April.
The average property price dipped by 0.1% in February to £298,602, having hit a record high in January, according to Halifax.
Continue reading...Comments follow report alleging that estate agency company’s junior staff faced inappropriate behaviour
The chief executive of Foxtons has admitted that the company has “more to do” on workplace culture, after a report alleging that junior employees at the real estate agent had faced unwanted touching and other forms of harassment.
Guy Gittins, who started his career at Foxtons in 2002 and returned as chief executive three years ago, said that the company remained “steadfast in our commitment to an inclusive, professional and respectful culture”, as it reported its full-year results for 2024.
Continue reading...Members are in limbo as Lupin Lodge is on the market after nearly 90 years – with next buyer likely to require clothes
After nearly 90 years as a historic nudist resort, California’s Lupin Lodge is up for sale – and its next owners are likely to require guests to wear clothes.
The 112-acre Silicon Valley property became a retreat for members of the “naturist” movement in 1935. Today, its hundreds of members enjoy the resort’s clothing-optional hiking trails, pickleball court and its nude-only community pool. (Yes: the members really do hike naked.)
Continue reading...Documents taken during break-in at Nelson Alexander agency in Northcote in October, police allege, and investigation under way
The personal information of a number of renters in Melbourne has been allegedly stolen from a Northcote real estate agency during a break-in, raising concerns about potential identity theft.
The ABC has reported that five boxes of documents, containing former renter information including names, addresses, phone numbers, dates of birth and potentially ID documents, were allegedly stolen during a break-in at the Nelson Alexander agency in Northcote in October.
Continue reading...Analysts say market is still relatively busy despite decline of 1.4%, which is unusually high for this time of year
The average asking price for a UK home has dropped by more than £5,000 this month as the autumn budget caused housing market jitters before the usual Christmas slowdown.
Average asking prices from new sellers fell by £5,366, or 1.4%, in November to £366,592, compared with the 0.8% decline usually recorded at this time of year, according to the website Rightmove.
Continue reading...Hamptons says ‘modest’ rises can be expected amid ‘dampening effect’ of higher interest rates overall
Expectations that UK interest rates may stay higher for longer, as well as revenue-raising measures in the budget, have prompted a leading estate agent to cut its forecast for house price growth over the longer term.
The revised forecast from Hamptons came days after Halifax and Nationwide banks said the annual rate of property price growth had slowed, with the former saying it was likely to be “modest … for the rest of this year and into next”.
Continue reading...Noonan Real Estate Agency in Sydney forced to apologise after it disclosed renter’s full name, occupation and financial circumstances to global audience
A New South Wales real estate agent who exposed the personal details of a tenant who left a bad Google review broke privacy laws, Australia’s information commission has found.
After the tenant, who has not been named for legal reasons, gave Noonan Real Estate Agency a one-star review in 2021, the agency responded by disclosing his full name, occupation and financial circumstances, according to a written decision.
Continue reading...Duchies of Cornwall and Lancaster likely to make at least £50m from leasing land to services such as NHS and schools, according to investigation
King Charles and Prince William’s property empires are taking millions of pounds from cash-strapped charities and public services including the NHS, state schools and prisons, according to a new investigation.
The reports claim the Duchies of Lancaster and Cornwall, which are exempt from business taxes and used to fund the royals’ lifestyles and philanthropic work, are set to make at least £50m from leasing land to public services. The two duchies hold a total of more than 5,400 leases.
Continue reading...HMRC and FCA asked to look into property deals with Saifuzzaman Chowdhury now under investigation for corruption in Dhaka
British regulators have been urged by MPs to examine the relationship between London estate agents, lawyers and lenders and a former Bangladeshi government minister under investigation for alleged corruption.
Saifuzzaman Chowdhury was the land minister in Bangladesh until earlier this year, when the government of Sheikh Hasina was spectacularly toppled, after her regime’s violent suppression of student protests.
Continue reading...Autumn price bump failed to emerge as buyers spoiled for choice, with properties on market at a 10-year high
The number of homes being sold is up almost a third, year on year, so far this month, although the traditional autumn price bump has failed to emerge due to buyers being spoilt for choice, with the number of properties for sale at a 10-year high, according to Rightmove.
The number of sales agreed is up 29%, with the number of house hunters contacting estate agents up 17%, despite some market uncertainty caused by the looming budget at the end of October.
Continue reading...Nationwide says yearly rise in house prices increased by 3.2% in September putting the average home at £266,094
UK house prices are growing at their fastest annual rate for nearly two years as borrowing costs continue to fall on expectations that the Bank of England will keep cutting interest rates, Nationwide has said.
The building society said prices grew by 3.2% in September compared with the same month last year, well above the 2.4% annual growth recorded in August, and the fastest pace since the 4.4% recorded in November 2022.
Continue reading...FTSE 100 firm turns down fourth offer from the Australian property company REA Group
Rightmove has rejected a £6.2bn takeover offer from REA Group, the Australian real estate firm backed by Rupert Murdoch’s News Corp.
The UK property portal told the City on Monday morning that its board had turned down REA’s fourth offer, having concluded it was “unattractive and materially undervalues Rightmove”.
Continue reading...Two arrested in connection with vandalism in abandoned home owned by the son of Philadelphia Phillies co-owner
Two people were arrested on Wednesday in connection with vandalism in an abandoned Hollywood Hills mansion owned by the son of a Philadelphia Phillies co-owner.
John Powers Middleton, a film producer, owns a property that has long been left vacant and become a popular target for graffiti artists and squatters.
Continue reading...Australian company says it is frustrated that UK property website has refused to engage over £6.1bn offer
Rightmove has rejected a third bid from Rupert Murdoch’s REA Group and said the offer was “unattractive” and undervalues the UK’s largest online property portal.
On Wednesday Rightmove confirmed that its board had “unanimously rejected” the non-binding cash-and-shares offer put forward on Monday, which valued the company at £6.1bn.
Continue reading...Agents and critics claim business practices and pricing structure of REA Group - which owns realestate.com.au - stifle competition in market
The assistant competition minister, Andrew Leigh, says he is “concerned” Australians are paying the highest costs in the world to advertise their homes for sale online.
After a Guardian Australia investigation into the market power of the Murdoch-controlled REA Group – which owns realestate.com.au – Leigh said he wanted to see costs in the property market come down.
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Continue reading...Simon Baker says REA Group’s property portal is viewed ‘jealously’ by others around the world because the home-sellers pay the bills
A former chief executive of the News Corp-controlled realestate.com.au says the company views real estate agents as its “outsourced sales force”, outlining how home sellers have been targeted with ever-rising advertising costs.
Simon Baker, who was chief executive of REA Group from 2001 to 2008 and now works as a consultant in the property tech industry, says the “vendor-paid” advertising market operating in Australian real estate is rare globally.
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