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There is a growing divide between demand and available supply in vacant residential land in Australia as land price rise and detached house building peaks, according to a new report.

The number of residential land sales fell by 11.8% over the year to the December 2014 quarter while in contrast, the weighted median residential land value increased by 2.8% and was up by 6.3% over the year.

The data from the latest HIA-CoreLogic RP Data Residential Land Report provided by the Housing Industry Association, also shows that the increase in the weighted median value was driven primarily by Sydney, with significant growth also evident in Perth and Melbourne.

‘As with all aspects of this housing cycle, there are wide divergences in land market conditions aroun...

New legislation will see landlords banned from renting out properties in England and Wales that are draughty as part of a drive to cut energy bills and carbon emissions.

Landlords with properties rated F and G will be unable to let them out from 01 April 2018 and it also means that from April next year tenants living in F and G rated homes will be able to request improvements, such as more insulation. The landlord will then be legally bound to bring the property up to an E rating.

According to government figures almost 10% of the 4.2 million privately rented homes in England and Wales currently fall below the E rating and it is estimated that the new legislation will help around one million tenants, who are paying as much as £1,000 a year more for heating th...

Scottish property prices increased by 1.7% in February, the biggest monthly jump since the 2007 taking the average value to a new record high of £169,742.

The latest data from the Your Move Scotland house price index also shows that the annual price growth has now reached 6% and there was a spike in sales of homes worth over £1 million, probably due to the introduction of the new property tax in April.

The annual growth is the strongest it has been since August 2010 and Stirling experienced the fastest increase in property values across Scotland during February, with house prices soaring 5.3% while Aberdeen, Edinburgh, East Lothian and Angus all set new house price peaks in February.

The index data also shows that overall sales were up 14% month o...

A quarter of mortgage brokers in the UK say they have experienced a decrease in volumes since new mortgage rules came into being almost a year ago, a new survey shows.

The self-employed and retirees are the most difficult to find a mortgage for and mortgage intermediaries are very much divided on the impact of the Mortgage Market Review (MMR) on business volumes.

The research by Paragon Mortgages that covers the first quarter of sought to establish the impact of MMR in terms of intermediaries’ business levels as we reach the one year anniversary of the changes coming into force.

Of the 200 intermediaries who took part in the survey, 43% said that in their view there had been no change to their business volumes as a result of MMR and 24% said that busine...

Higher taxes and election uncertainty have put the brakes on prime London house prices which fell by 0.5% in the first quarter of 2015, new research shows.

This follows an average 2.6% downward price adjustment in the final quarter of 2014 that was triggered by the stamp duty reform announced in December’s Autumn Statement, according to the analysis by real estate firm Savills.

It means that the 12 month rolling average for house price growth in the prime London market has now slipped into negative territory.

‘As we forecast in November, uncertainty regarding the general election and the potential for further taxation of high value property have contributed to a subdued market in the first part of 2015,’ the report explains.

‘The...

The housing market in the UK is experiencing a number of key trend changes which mean the more people are living along and more are renting a home for the long term, new research has found.Of the 43% of those taking part in the Housing Futures Survey by Strutt & Parker who are single and planning to move in the next five years, some 75% expect to be living along and 45% of those aged 18 to 29 indicated they would consider living in a professionally managed private rental unit.

The research suggests that future housing types and location decisions are being altered by access to technology. Nearly 36% of the respondents who were intending to move listed broadband connectivity as important or very important in their motivations for moving, and nearly 20% liste...
Rents in England and Wales are now £768 per month with average annual rent rises growing at their fastest pace in two years, up 3.7% over the last 12 months.

The last time rents rose so quickly was in the year to April 2013, when this previously stood at 3.9% per annum, according to the latest buy to let index from Your Move and Reeds Rains.

Between February and March rents have risen by 0.3% on a monthly basis and are now just £2 away from the all-time record high of £770 per month, set in October 2014, the data also shows.

‘Since 2010 the private rented sector has absorbed over a million extra households. With social housing in decline, alongside a parallel decay in the number of people owning their own home with a mortga...

Mortgage lending in the UK is still down on a quarterly basis on what it was a year ago but there are signs of a pickup, according to the latest figures to be published.

Estimates from the Council of Mortgage Lenders shows that gross mortgage lending reached £16.5 billion in March, some 21% higher than February but lending for the first quarter is 12% down on the final quarter of 2014 and 3% down on the first quarter of 2014.

However it is up month on month for the month of March, some 7% higher than March of 2014 and CML chief economist Bob Pannell said that the underlying lending picture is stabilising.

‘Sentiment and activity are showing early signs of improvement, and should be further supported by the effects of stamp duty reform. We expect t...

Since the start of the tenant deposit schemes in 2007 in the UK more tenants than landlords are continuing to be awarded 100% of the disputed amount at adjudications, new research shows.

Data from the Tenant Deposit Scheme Annual Review 2014, shows that over the last eight years, tenants have been awarded 20.25% the whole dispute amount, compared with 18.21% of landlords. Furthermore, the dispute amounts have risen leapt from £736 in 2010 to 2011 to £860 in 2013 to 2014.

Cleaning remains the most common cause of dispute, appearing in 53% of all cases, followed by damage in 46% of cases, redecoration in 29%, arrears in 16% and gardening in 14%. Disputes over gardening have seen a steady increase since 2011, up by 3%

‘Despite the b...

Existing home sales in the United States jumped in March to their highest annual rate in 18 months, while unsold inventory showed needed improvement, according to the latest index.

Data from the National Association of Realtors shows that this growth was led by the Midwest, but all major regions experienced strong sales gains in March and are above their year on year sales pace.

Total existing home sales, which are completed transactions that include single family homes, town homes, condominiums and co-ops, increased 6.1% to a seasonally adjusted annual rate of 5.19 million in March from 4.89 million in February, the highest annual rate since September 2013.

Sales have increased year on year for six consecutive months and are now 10.4% above a year ago, the h...

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