The buy-to-let index, produced by LSL Property Services, shows average rents rose to £743 in August - a monthly rise of 0.7%. The record high of £744 a month was in October 2012.
Compared with August 2012, they are up 1.3%. However that is still below the inflation rate of 2.7%.
London saw the highest rent increases with prices up 4.8% year-on-year. Wales saw the second highest jump, a rise of 2.3%, while Yorkshire and the Humber are 1.6% lower than in 2012.
Housing shortage
The overall figures contrast with last month's report which showed that private tenants were experiencing smaller rent
Thinking about selling at auction? After our record 100% sales success at our September auctions, we are now undertaking property valuations for entries into our next round of auctions taking place in October.
There is no faster way of selling property. The process can take as little as six weeks from instructing us through to an exchange of contract. Depending on the agreed completion period, generally 20 working days, the full funds are available. Financial pressures, relocation or other time –related disposals can easily be accommodated within the parameters of a sale by auction.
So if you
Property values are rising at their fastest rate for three years and first-time buyers are at a six-year high, new figures reveal, creating a “virtuous circle” which has given banks and building societies more freedom to lend at the current historically low interest rates.
The result is a “contagious” confidence in the housing market, which will have a knock-on effect for the wider economy, according to industry experts.
The latest evidence of Britain’s economic recovery comes days after forecasts for the country’s annual economic growth were doubled from 0.8 to 1.5%.
The Halifax’s latest
A Victorian property divided in to nine flats in Aigburth, Liverpool has been sold by Auction House in Manchester for more than double the amount it was expected to fetch.
Buyers were unable to access the property in Ivanhoe Road, ahead of the sale, yet it still attracted fierce competition, starting with a guide price of £175,000 and selling for £402,000. Before the sale the best offer achieved through an estate agent was £325,000.
Director of the award winning brand Auction House, in Lancashire and Manchester, Oliver Adams said, “Demand for Buy to Let properties at auction is currently
The property auction market enjoyed another strong set of sales results over the summer, according to the latest figures, which showed that some 2,932 lots were sold in July – the highest number recorded in July since 2007 – raising just over £467m in the process.
The residential sector saw positive gains in every metric measured. Auctioneers sold 2,334 residential lots in July which was up 17% on July 2012, whilst double-digit rises in amounts raised were evident for the month, rolling quarter and rolling year, up 37%, 19% and 11% respectively.
The commercial auction sector witnessed slight
The amount of money being advanced to first-time buyers (FTBs) in Scotland is continuing to climb, new research has shown.
According to the latest figures from the Council of Mortgage Lenders (CML), the second quarter of this year saw a total of £630 million advanced to FTBs in the country, which was 54% higher than the first quarter.
It was shown that this amount also represented a 40% climb on the same period in 2012.
The report revealed a total of 6,500 loans were taken out by Scottish FTBs across the second quarter of 2013 - 33% higher than during the same timeframe last year and marking
Mortgage brokers and intermediary lenders in the UK are united in their concern that inflated house prices are the gravest threat to the success of the Help to Buy scheme.
According to the latest outlook report from the Intermediary Mortgage Lenders Association (IMLA) almost two thirds of intermediary lenders and brokers, 60% and 59% respectively, single out a house price bubble as the most likely factor that may undermine the government scheme.
The research shows lenders already anticipate a 2.7% increase in the average house price by the end of the year, pushing it to £166,418 according to
Falling into disrepair is a risk for more than one in ten homes in Britain.
People eager to sell their home may want to consider whether carrying out major improvements are required before they are able to attract potential buyers.
New research from Halifax Home Insurance has shown that more than one in ten homes in Britain (11%) are at risk of falling into disrepair, while minor works are needed on around half of the nation's properties.
The report found that 28% of homeowners view themselves as home maintenance enthusiasts, but only 31% believe they have the ability to make sure basic
Thinking about selling at auction? We are now undertaking property valuations for entries into our next round of auctions taking place in late September and October.
There is no faster way of selling property. The process can take as little as six weeks from instructing us through to an exchange of contract. Depending on the agreed completion period, generally 20 working days, the full funds are available. Financial pressures, relocation or other time –related disposals can easily be accommodated within the parameters of a sale by auction.
So if you are thinking about selling and your property
As estate agents report a post-recession boom in house prices, Christopher Middleton reports in the Telegrah the six best investment hot spots.
Wales
A 4.3% year-on-year price rise is reported for Wales, which previously saw some of the UK’s largest house price falls during the recession. “Activity in July was much better than in June,” says Nigel Jones of John Francis Estate Agents in Carmarthen. “Sales agreed were up by eight per cent, and sales exchanged by 11%t.”
West Midlands
This area has seen the greatest number of interested buyers since records began in April 1999. Both new stock and