Friday Property News Round Up 23/01/2015

‘Why I won’t be buying a property': study reveals why Britons are holding back
Fears of higher interest rates among would-be property buyers, which had risen sharply at the end of 2014, have fallen sharply, but the biggest barrier remains getting a deposit – 61% of those surveyed by the Halifax Market Confidence Tracker said they were unable to source the money neeeded, up from 57%.

30-something homeowners: Now is the time to buy your second house
Good news for first-time homeowners who want to cash in on the recent spikes in house prices – costs for this bracket of the sector are now lower than a decade ago. Typically 34-years old ad married, they’re using their new-found equity to take the next step on the property ladder.

How to get rich quick from Crossrail
A cool, new tool reveals the full extent of house price growth and commuter times for each Crossrail station.  Homeowners in Whitechapel will see a 54% increase in house prices over the next five years – the biggest jump in values for any London village on the Crossrail route.

Right to Buy could be extended to housing association property
The Tories are considering allowing housing association tenants to buy their homes, using the money raised to build more homes. The “Thatcher-styel” right-to-buy scheme is being pushed by senior Conservative Cabinet ministers and may form a key manifesto pledge.

Nationwide launches lowest ten-year fixed rate mortgage at 2.84%
Nationwide Building Society is launching the lowest ten-year fixed rate mortgage on the market at 2.84%. Fixed until 2025, it is available to borrowers with a 40% deposit.

No deposit? No problem: Boris launches First Steps, a new first-time buyers scheme
There is a new way to buy a home – with no deposit and no mortgage – as part of Mayor Boris Johnson’s First Steps programme. Buyers enter into a 30-year payment plan, reviewed every five years, and take full ownership of the property at the end of this period. If they want to “sell up” before this, they can do so on the open market, with proceeds split according to shares owned.

Download this house from the internet and build it yourself for £50,000
The designers behind the project say the aim is to allow anyone to design, download and ‘print’ affordable, weatherproof houses and their components which can then be assembled with ‘minimal skill or training’. The house, which does not need bolts, is built using screws, staples, wedges and plugs – and even the mallets used to put it together are ‘printed’ and cut alongside the pieces for the house.

Lettings annual review reveals UK rental hotspots
Leicester, Southall and Cambridge have been identified as UK lettings hotspots with average rents in 2014 some 45%, 38% and 24% higher, respectively, than 2013. The HomeLet Rental Index annual review also shows that on average, rents across the UK in 2014 were 6.6% higher than in the previous year with the average monthly rent in the UK now standing at £867.

UK asking prices up 1.4% this month, latest index shows
The price of property coming to the market in the UK increased by 1.4% in January at a time of year when prices usually fall, according to the latest index from Rightmove. It takes the average national asking price to £273,275 and means prices have increased by 8.2% in the last 12 months.

Landlords warned not to rely on good capital gains in UK buy to let sector
Landlords’ confidence in capital gains has almost trebled over the last two years, according to the leading landlord association in the UK. It has risen from 18% to 52% over the last two years but the survey by the National Landlords Association (NLA) also shows that 32% of landlords say they might not be able to meet their mortgage repayments if interest rates were to rise in the near future.

The House From The Windows 95 Maze Screensaver Is Up For Sale
“Get out your checkbooks, ’90s kids, because the iconic house that the Windows 95 maze screensaver was based on is now officially on the market. The sprawling home has over 12,000 square feet of floor space, although the actual area can change drastically each time you enter the house, as all the paper-thin brick walls instantly reset at random every time you run into one of the countless yellow, smiling orbs that adorn the home. Just like you remember!”

Have a great weekend!


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