Welcome back. Putting that hip flask from your stocking to good use we hope? While you were hoovering up the last of the Christmas tree needles wedged in that bit of the skirting board you haven’t quite got round to polyfilling, we’ve had our best elves pulling together some of the news you may have missed in the past few liver-destroying, gut-busting weeks. So loosen that belt and have a read.
The average home price in the UK is now £400,000 (BBC)
With the average home price in London now having hit £400,000, a third of all Londoners bought their first property outside the capital in 2014. Some 15,000 properties were bought outside of London – a rise of 70% on the year before, with the most popular areas being about a half hour’s commute from Central, in Dartford, Slough, Hemel Hempstead and Luton.
House price growth is lowest for a year (BBC)
According to the nation’s second biggest mortgage lender Nationwide, house price growth is now the slowest it’s been for a year. Despite increasing employment levels and wages, house price inflation fell from 8.5% in November to 7.2% in December.
House prices ‘rose by 8.5%’ in 2014 (BBC)
Figures released by the mortgage lender Halifax suggest that UK house prices rose on average by 8.5% in 2014. Halifax puts the average house price in thee UK at £209,428, a figure that is significantly lower than the one given by the Office for National Statistics.
UK buyers and sellers concerned about property prices (Properywire)
According to online estate agent eMoov.co.uk, both buyers and sellers in the UK are concerned about house prices. 86% of buyers feel deterred by property prices and 91% of sellers are concerned about putting their house on the market.
Average house price soared by £42 a day in 2014 (Daily Express)
According to the property website Zoopla, the average property increased by £15,191 in 2014. The biggest rise was in London, with house prices increasing by £81,619 on average.
London exodus to Birmingham (Guardian)
According the the Guardian, young people are heading to Birmingham in droves, attracted by culture and lower house prices.
London’s landmarks are being sold off to foreign investors (Evening Standard)
Foreign investors looking for safe assets are continuing to buy up London landmarks. Most recently the billionaire Hinduja family from India snapped up the former War Office in Whitehall for more than £300 million.
Prime property buyers in London down by 30% (Propertywire)
According to estate agents Douglas & Gordon, stock levels of of prime London property are up by 60% and buyers are down by 30%. Despite this values continue to rise.