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In this month’s Property Surveying Newsletter … we look at action being taken by homeowners against mortgage lenders, discover 2019’s most popular place to live and look at measures to head off potential home maintenance disasters
The property market fact file is a collection of data compiled each month by our Chartered Surveyors and the propertysurveying.co.uk team, reflecting survey data, statistics, trends and information from the property market. This provides a single place where anyone with an interest in UK property can find the information they need.
As three price-fixing estate agent cartels that colluded to fix fees for letting and selling properties are broken up by the Competition and Markets Authority (CMA), the watchdog asks property buyers and homeowners to report estate agents they suspect of cooperating illegally when they set fees.
150,000 people under the banner ‘UK Mortgage Prisoner Action Group’ have now threatened legal action against two lending institutions that ‘unfairly trapped’ them into mortgages with high interest rates, when the banks were taken into public ownership.
A review has discovered that Persimmon had no ‘standard’ in place to monitor the quality of its house building or build process that would ensure homes were built to a rigorous standard – nor were any procedures in place to supervise or inspect employees’ or sub-contractors’ work, who were given a minimal amount of training.
Property website Rightmove has declared Bristol to be the most sought-after place in the UK outside London for both property sales and rentals in 2019.
The picturesque town of Oakham in Rutland has no permanent speed traps, is home to England’s largest reservoir and boasts the remains of a Norman castle. Rutland is England’s smallest county and until now has been the last remaining English county that can claim to be without a Mcdonald’s, Burger King or KFC restaurant – although this is about to change.
The recently introduced ‘mortgage stress test’ has proved controversial for some first time buyers, as it can decrease purchasing power by as much as 20%. However, it can also make it more difficult for people who already own their property but need to refinance or renew their mortgage.
Now that we are told that the average home in the UK is 20% smaller than in the 1970s, take a look at what the average priced home in your area would give you in terms of the ‘price to space’ ratio.
The number of single households in the UK has risen to its all-time record, and there are now 8.2 million single households in the UK.
A number of UK cities have made, or are planning to make, their centres free from traffic. We look at how, in 2017, the Norwegian city of Oslo began the process of creating Bilfritt Byliv or ‘Car-Free Livability Programme’. Approximately 1.3 sq km was designated to form an improved urban environment for the 1,000 people who call Oslo’s city centre home, and the 100,000 who travel to and from the area daily.
The Scottish government has announced a new First Home Fund shared equity scheme. The pilot scheme will release £150 million for first time buyers in Scotland, who can use the funds towards new build or existing property.
Most car owners would ensure their vehicle was well-maintained and had an up-to-date MOT, but how many home owners routinely check their houses for maintenance issues? Routine maintenance is just as important in the home, and making regular checks can help to keep things under control – and also ensure that you stay protected by your home insurance.
And finally …
You may live in a disability friendly home but looking for a truly disability friendly hotel room that breaks with tradition may not be straightforward. To highlight the physical challenges faced by people with disabilities in the home, an artist has designed a unique hotel room in Blackpool.
Written by Independent Chartered Surveyors
of the UK wide network of Property Professionals
The Property Surveying Newsletter is a free service by PropertySurveying.co.uk for those with an interest in the UK Property Market. As well as being posted online here, it is emailed direct to our subscribers all across the country.
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