A trillion pounds, baby
All the privately owned homes in London are together worth £1.1 trillion, and the sum total for the whole of Britain is more than £5 trillion, according to separate estimates from the Halifax and Office for National Statistics. A similar exercise carried out by Zoopla valued the nation’s housing at £7.6 trillion.
Renters giving up hope of home ownership
One in three private tenants has put plans to buy on hold and will instead remain in rented accommodation longer than planned, according to Experian research. Only a third of private tenants surveyed said they were happy to rent, with the rest saying they hoped to be able to buy their own home.
Buy-to-let fever ‘threatens financial crash’, claims Bank of England
The Bank of England has warned landlords could be a threat to the country’s banks and financial stability as buy-to-let (BTL) mortgages are twice as likely ‘to turn bad’ as loans taken out by owner-occupiers. The Bank is already considering possible new powers to regulate BTL mortgage lending more tightly.