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Research

Chestertons' dedicated research department compiles regular reports on national and international property trends, as well as providing information and guidance on property legislation, for all those involved in buying, letting, renting or investing in property.

Chelsea Physic Garden History Brochure

2019-10-17   As partners of The Chelsea Physic Garden, Chestertons has put together a history brochure so that friends of Chestertons can learn about the importance of the Gardens, dating back to where it first began.

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Sell your home this winter

2018-11-24   Winter doesn't need to be a difficult time to sell your home. With an organised and well-executed marketing plan, you can tempt prospective buyers away from their festive preparations, and present your home in the best possible light.

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New HMO Criteria

2018-09-18   From 1st October 2018, the criteria for large Houses of Multiple Occupation (HMOs) will change. Currently rental properties with five or more tenants, that make up two or more households with three or more storeys are classed as large HMOs, requiring a local authority license. Are you affected?

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UK Commercial And Residential Report - July 2018

2018-07-01   Read our monthly property markets review for July 2018 to find out what is happening in the UK residential and commercial property markets.

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UK Commercial And Residential Report - June 2018

2018-06-01   Read our monthly property markets review for June 2018 to find out what is happening in the UK residential and commercial property markets.

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Impact Of Brexit

2018-05-31   Almost two years after the 2016 EU membership referendum returned a majority favour, there has yet to be any significant economic impact. Our Brexit Report looks at the real-estate sector post referendum and what the future holds. With concern amo

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New lending requirements for landlords with four or more properties

2017-09-27   From 1st October, the Prudential Regulation Authority (PRA), part of the Bank of England, will start to enforce tougher standards for landlords with four or more mortgaged properties, meaning landlords will need to meet new requirements. Following the introduction of stricter affordability tests imposed by lenders at the start of the year, the latest set of requirements from the Prudential Regu

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Three is the magic number

2017-09-27   For many buyers, when it comes to bedrooms in the home, three is the all-important number. It's practical for a growing family, ideal for downsizers and future proof for couples. However, there is an increasing price gap in the market between two and three-bedroom properties in the capital due to stamp duty levels, a particular issue in some parts of London. Guy Gittins, Head of Residential

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Bank of Mum and Dad Not Just Buying Homes

2017-09-26   ...but now funding rents too Parents are not only enabling home ownership for their children but are also playing a pivotal role in the rental market. On top of the £6.5bn parents are forecast to pay out this year in deposits and mortgage repayments on behalf of their children, the Bank of Mum and Dad will fund £2.3bn of rental payments this year, helping 9% of renters across the UK

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Chestertons Residential Observer - September 2017

2017-09-22   The number of homes on the market in July was at the lowest level recorded for the month since 2002. The proportion of sales made to first time buyers fell by 7% in June to July, the lowest level seen since last September.

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Three Is The Magic Number

2017-09-17   For many buyers, when it comes to bedrooms in the home, three is the all-important number. It’s practical for a growing family, ideal for downsizers and future proof for couples. However, there is an increasing price gap in the market between

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Gas Safety Week

2017-08-22   The dangers of poorly maintained gas appliances, which can lead to gas leaks, fires and carbon monoxide poisoning, are all too real, which is why it is vital that people make sure their gas appliances are safety checked every year by a Gas Safe Registered engineer. It is thought that more than one in five homes contain a dangerous gas appliance. By not having these appliances checked every year

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Will buy to let tax changes create the next pension crisis?

2017-08-22   Recent changes to the way buy-to-let properties are taxed could trigger 'the next pension crisis' as landlords are becoming ever-reliant on their investment to fund their retirement years, according to the National Landlords Association (NLA). Figures from the Office for National Statistics (ONS) estimate the average retired household spends £21,770 a year. With the basic state pension cu

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Chestertons Residential Observer - August 2017

2017-08-22   The Government collected a record £4.84 bn from Inheritance Tax in the last tax year, much of which will have been from property. Next year, this figure is expected to rise to £5bn.

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Rising property prices cause record inheritance tax payments

2017-08-21   The government collected a record £4.84 billion from Inheritance tax (IHT) during 2016/17 tax year, much of which will have been from rising property prices according to experts. This is 4% higher than the previous year - when £4.67 billion was raised - according to official statistics released by HM Revenue & Customs (HMRC), and by next year this figure is expected to exceed &p

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First time buyers dominate the 2017 mortgage market

2017-07-26   First time buyers make up nearly half of all houses purchases financed by a mortgage, but those taking their first step on to the property ladder in London need to put down, on average, a deposit of almost £107k.

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Chestertons Residential Observer - July 2017

2017-07-26   High prices and hefty stamp duty bills resulted in an 18% drop in house moves in London and a 7% drop across England & Wales in 2016. Read our full report to find out what happened this July - 2017.

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The value of the pound in 2017

2017-07-26   One of the most provocative topics affecting the pound's value, is of course Brexit. For example, when the post-referendum rhetoric was tilted towards a 'hard Brexit' the pound fell and on talk of a 'soft Brexit', the opposite happened. These fluctuations have clearly shown how the uncertainty which surrounding a move towards a hard Brexit is likely to impact on the economy negatively. As a res

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Bank of England warns over 35 year mortgages

2017-07-25   According to figures from the Bank of England, one in seven home buyers (15.75%) are signing up for mortgages of 35 years or longer – a notable increase on 2005, when just 2.7% of buyers took terms this long. In contrast, traditional 25-30 year mortgages have dropped, from 38% of approvals in 2005 to just 24% today. Although mortgages lasting 35 years or more have been available for a lon

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Minimum Energy Efficiency Standards are coming

2017-07-25   According to government figures, one in 10 rental properties, equating to more than 400,000 properties in England and Wales, could be unlettable if they fail to meet new energy performance standards by spring 2018. From 1 April 2018, privately rented properties must have a minimum energy performance rating of E on an Energy Performance Certificate (EPC). The regulations will come into force for

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Buy to let tax changes will start to impact on the smaller landlord

2017-06-27   Buy-to-let tax changes will start to impact on the smaller landlords who are just single property owners, as they may soon be in a higher rate tax bracket with the new taxation rules being introduced on the buy-to-let market.

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Chestertons Residential Observer - June 2017

2017-06-23   Buyers are currently seeing some of the best mortgage deals ever as Bank of England data shows that the average rate on two year fixed rate deals has fallen from 1.73% to 1.26% over the past year.

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Cardiff Report

2017-06-07   Cardiff is the administrative and financial capital of Wales, with a population of 362,000 and a wider metropolitan area population of nearly 1.1 million - it accounts for nearly 20% of Welsh GDP.

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Chestertons Residential Property Market Report - Spring 2017

2017-05-25   The London sales market enjoyed a buoyant start to the year, with committed purchasers tiring of Brexit speculation and other distractions, beginning to actively look to buy again.

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Chestertons Residential Observer - May 2017

2017-05-25   Borrowers in the UK are seeing the lowest ever mortgage rates being introduced as lenders battle to meet their targets.

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Chestertons Residential Observer - April 2017

2017-04-27   The number of first-time buyers relying on the "bank of mum and dad" for financial help has hit a record high, with more than a third of homebuyers in England depending on money from their family.

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Chestertons Residential Observer - March 2017

2017-03-29   Property prices in London continue to grow and the rate of growth has started to accelerate again, proving just how robust the capital's property market is, mainly due to the general property shortage.

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The impact of Article 50 on currency

2017-03-29   Sterling slumped against the Euro and Dollar following the referendum result on the 23rd June 2016 and has been held at these lows ever since. Many people expected the vote for Brexit to cause a slump in house price as well but the reverse has actually happened as the market benefited from the influx of international investors looking to take advantage of the weak pound. Company shares in Londo

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Annual Tax on Enveloped Dwellings: Valuation changes

2017-03-06   Since 1 April 2016, residential property in the UK owned within a company structure and valued at more than £500,000 on 1 April 2012, or at acquisition if later, is liable for ATED (the Annual Tax on Enveloped Dwellings).

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Chestertons Residential Observer - February 2017

2017-02-28   Data compiled by the House of Commons reveals homeownership ratios by age have fallen for every group apart from one. Between 2011 and 2016, home ownership levels for 30-39 year olds fell most dramatically.

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Landlords to lessen impact of tax relief reduction

2017-02-27   By the tax year 2020/21, the current 100% tax relief for finance related costs will disappear completely and only a 20% tax credit will be available. Thousands of landlords are transferring their properties into limited companies to minimise the impact of the phased reduction in tax relief that starts in April. This was clearly illustrated by research from lender Kent Reliance, that showed that

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Property licensing regulations

2017-02-10   vary from borough-to-borough and can go beyond the licensing of House of Multiple Occupations (HMOs). With a variety of legislation on the subject it can be a complex and confusing field to navigate, especially for landlords with multiple properties in different boroughs but, with more changes due to come in to effect this year which could potentially affect all privately rented properties wit

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Chestertons Residential Observer - January 2017

2017-01-31   66% of aspiring home owners rent a property before they buy their first home. The first evidence has emerged that the era of record-low fixed-rate mortgages may be coming to an end.

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New tax and loan rules

2017-01-30   Despite a marked dip in the second half of 2016, rental prices have still risen by around 30% since 2010. It has been a strong decade for UK property prices and rental incomes. Despite a marked dip in the second half of 2016, rental prices have still risen by around 30% since 2010. (Back in mid-2016 that figure was closer to 40%.) Low interest rates and regulatory tailwinds have encouraged man

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Should we be expecting interest rates to rise

2017-01-30   The majority of economists expect the next movement in Bank Rate is more likely to be up rather than down, barring any major economic shock. The current consensus view is leaning towards 2018 at the earliest but it is still very possible that rates will rise before the year is out and some bookmakers are offering pretty short odds of 5/1 that we will see an increase in Bank Rate in 2017. The

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Chestertons Residential Forecast - November 2016

2016-11-30   Key ingredients for an active sales market are employment security, wages growth and access to low cost mortgages The UK housing market has proved remarkably resilient this year.

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Chestertons Residential Observer - November 2016

2016-11-30   26% of parents with school age children have either bought or rented a new property in order to secure an address within their desired school catchment area, according to research from Santander Mortgages.

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Chestertons response to lettings fee ban

2016-11-23   Chancellor pledged to ban lettings agents from charging tenants upfront fees "as soon as possible": Chestertons' response

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Manchester Residential Research Report 2016

2016-11-17   Manchester benefits from excellent transport links both nationally and internationally... Manchester is the economic engine of the North West and the regional centre for finance, commerce, retail, culture and leisure.

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Chestertons Residential Observer - October 2016

2016-10-31   Buy-to-let borrowing is changing: The Prudential Regulatory Authority (PRA) has recently announced regulatory changes to the way that lenders assess Buy-to-Let mortgage applications. These changes will be implemented by lenders before January 2017 and will make it more difficult to secure a buy-to-let mortgage.

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Chestertons Residential Observer - September 2016

2016-09-27   Our monthly market review provides a snapshot of how the residential property market is performing. Read the full report to find out what the market is doing in your area.

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Chestertons Residential Observer - August 2016

2016-08-25   Home ownership in England has dropped to its lowest level in 30 years thanks to soaring property prices. Since peaking in April 2003 at 71%, home ownership in February of this year had fallen to 64%.

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Chestertons Residential Observer - July 2016

2016-07-22   London house prices set to fall, surveyors warn House prices in London are set to suffer a more severe blow than any other part of the UK, according to the first major survey to be conducted in the wake of last month's Brexit vote.

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Chestertons Residential Observer Monthly Edition - May 2016

2016-05-20   People are lowering the asking price on their homes by almost a third in some parts of London in order to get a sale. Read our full report here.

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The rental market 2016

2016-05-20   Average rents on new tenancies in London in the three months to April reached yearly rises of 7.7% to stand at £1,543, more than double rents in the rest of the UK. The average UK rent for new tenancies (excluding London) was £764pcm6 – 5.1% up on the same period last year. Landlords are increasingly specialising in only letting to certain tenant types, especially if they

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Birmingham Residential Report 2016

2016-04-28   Birmingham is the UK's second largest city and the regional capital of the West Midlands. Over recent decades it has undergone a significant physical transformation with large areas of the city being regenerated.

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The Rental Market April 2016

2016-04-21   Read our London's rental market report for April 2016, will the 3% surcharge and the planned phase-out of mortgage interest relief impact you?

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Chestertons Residential Observer - April 2016

2016-04-21   Housing is the most important issue for Londoners in the upcoming mayoral election, with 56% of voters saying it is one of the most important challenges facing the capital in a recent poll. This represents a shift from the 2012 election, when Londoners placed housing fourth after jobs, crime and transport in a similar poll.

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House Prices April

2016-04-21   House price rises slowed down from 13.9% in January to 13.5% in February. However, 22 out of London's 32 boroughs actually saw average price rises gather pace. Of all the London boroughs prices rose fastest in Hillingdon (17.1%) and slowest in Camden (3.6%).

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Chestertons Residential Observer - March 2016

2016-03-16   House prices rose more steeply than December, and for the fifth month in a row, to reach 13.9% in the year to January. The average house price in London now stands at £530,409, according to the Land Registry. Of London's boroughs, the strongest growth was recorded in Hillingdon (+15.5%), followed by Enfield (+15.2%).

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Chestertons Residential Observer - March 2016

2016-03-16   Is London pricing out the younger generation, forcing young professionals to move out of the capital to look for work and affordable homes? Instead of staying in London, fuelling the jobs and house sales markets, 128,766 people aged 21-40 left London in 2014.

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Chestertons Residential Observer - March 2016

2016-03-16   In the three months to January, average UK rents, at £740pcm excluding London, were 5.5% higher than in the corresponding period a year earlier, according to the Homelet Index. Over the same period average rental growth in London slowed to 6.4% from 8% in the preceding three-month period. Average monthly rents in the capital are now £1,263.

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Chestertons Residential Observer Monthly Edition - Winter 15/16

2016-01-22   Almost a million more people are living with their parents than 20 years ago, according to a study by the Office for National Statistics. More than six million young adults are forced to live with their parents, including 40% of people aged 15-34 and one in ten men in their early thirties.

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Chestertons Residential Observer Monthly Edition - Winter 15/16

2016-01-20   Average rents rose in the three months to October to reach £997 pcm, 9.7% higher than the corresponding period in 2014. Average monthly rents in London in the three months to October stood at £1,560pcm – 7.5% higher compared to the same period in 2014. The difference between average rents in London and the rest of the UK is now the highest on record. 

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Chestertons Residential Observer - November 2015

2015-12-16   The number of properties that sold for more than £1million fell in the first half of 2015. National sales are down by 11% compared with the same period in 2014, and sales of £1million-plus homes in London fell by 15%, according to research from Lloyds Bank.

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Rental Values Update

2015-12-16   The 3% surcharge for all second home and buy-to-let property purchases from April 2016, announced in the Chancellor's Autumn Statement, is expected to hit the supply of rented homes in the market and push rents up. Rents in London are still rising, but not as quickly as earlier in the year. The average new rental is now £1,555pcm, 6.6% higher than the same time last year. Average monthly

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Chestertons Residential Observer - November 2015

2015-12-16   London Average price increases accelerated to 9.6% in the year to September. Annual prices are now once again rising faster in London than in any other region of the country, and the average house price in the capital is now £499,995.

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Tax planning and regulatory

2015-11-03   HMRC collected a record £7.5 billion in stamp duty in the 2014/15 financial year, two-thirds (66%) of the total coming from London and the South East. Londoners paid 43 times more stamp duty than buyers in the North East over the past year, a reflection of the widening North-South divide in terms of activity and prices, but also the higher stamp duty charges for more expensive homes. Hou

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The Last Word October 2015

2015-11-03   Website Thrillist, with the help of website Find Property has put together a rent map showing the median monthly cost for a one bedroom flat within a kilometre of each Tube station on the entire network. The most expensive place to rent is Hyde Park Corner on the Piccadilly Line at £2,920 per week, and the cheapest is Hatton Cross, next to Heathrow Airport, at £324. Download full

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Chestertons Residential Observer - October 2015

2015-11-03   HMRC data show home sales fell by 7.4% in August compared to the previous month and were 1.9% down on August 2014. The supply of houses for sale has slumped to its lowest level for 11 years. Research from the National Association of Estate Agents (NAEA) reveals the volume of properties available to buy per estate agent branch fell to 38 in August, down 31% on the July figure of 55.

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Mortgage Market October 2015

2015-11-03   The Council of Mortgage Lenders (CML) estimates that gross mortgage lending reached £20 billion in August, the highest August figure since 2007. This is 8% lower than the July figure but 12% higher than August last year. August data for gross mortgage lending from the British Bankers' Association (BBA) shows remortgage activity accounted for almost a third (31.5%) of all the loans, while

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Chestertons Residential Observer - October 2015

2015-11-03   Average UK monthly rents in the three months to August increased to £992 from £977 in July and were 10.5% higher than in the corresponding period in 2014, according to the Homelet Rental Index. Average monthly rents in London in the three months to August (£1,558) rose by 8.2% compared to the same period in 2014. "Rent rises are slowing in both London and nationwide, h

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House Prices October 2015

2015-11-03   House Prices - London Average annual price growth in London continues to slow – from 8.3% in July to 6.6% in August, according to the Land Registry. London is now behind both the East of England and the wider South East in terms of house price inflation. At borough level, prices are rising fastest in Newham (+15.5%) while in Camden (-1.7%) and Hammersmith & Fulham (-0.3%) they have a

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The Last Word

2015-10-14   Research from Lloyds Bank reveals UK house prices in locations near the country's top performing state secondary schools are well above the area average. Residential values in the postal districts around the 30 top performing state secondaries in England have reached £344,446, compared to the county average of £303,738, equating to a 13% premium. Properties near Beaconsfield High Sc

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Mortgage Market September 2015

2015-10-14   Latest data from the Council for Mortgage Lenders (CML) shows that gross mortgage lending in July rose by 9.3% compared to the previous month and was 13.7% up on the July 2014 figure. At £22 billion, gross lending was the highest monthly total for seven years. Remortgaging reached a four-year high, and was nearly 29% higher than in July 2014 according to the British Bankers' Association (

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House Prices September 2015

2015-10-13   Annual house price growth at national level slowed in July (+4.6%) according to the Land Registry. More recent data from Nationwide (+3.2%) suggest that further deceleration occurred in August. The East of England is now the region with the fastest rising house prices – ahead of London – with annual growth of 8.9% recorded by the Land Registry, nearly twice the national average. Ni

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Chestertons Residential Observer - September 2015

2015-10-13   Data from HMRC reveal that residential sale transactions in July were 2.4% up on the previous month and 8% higher than in July 2014. House building in England is now at its highest level since 2008 according to Government figures. In the year to June, 131,060 residential properties were completed, a rise of 15% on the same period a year ago.

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Rental Values September 2015

2015-10-13   The Homelet Rental Index reports that in the three months to July, average monthly rental values for new tenancies in the UK (£977) were 11.8% higher than in the same period last year. Average monthly rents (£1,538) in London in the three months to July rose by 9.5% on the same period in June 2014. Nick Barnes (NB), Head of Research at Chestertons: The shortage of properties avail

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The Last Word July 2015

2015-08-13   According to the 2015 Zoopla Rich List, the number of homeowners in Britain whose property is worth £1 million or more has reached 524,306, marking a rise of 8.3% year on year. 10,958 streets have an average property price above £1 million, 43% of them in London. 13 streets – all in London – have an average house price of over £10 million. The most expensive street

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Mortgage Market July 2015

2015-08-12   Is the Bank of England playing mind games regarding interest rates and when they might rise? Nick Barnes Gross mortgage lending in June (not seasonally adjusted) showed a significant rise compared to the previous month, according to the Council of Mortgage Lenders. It rose by 29% compared to May to an estimated £20.5 billion. In addition to the month-on-month rise, there was also a yea

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Tax planning and regulatory news July 2015

2015-08-12   While the Budget was mostly positive for the housing market, non-doms and buy-to-let landlords will be less happy. Nick Barnes The current relief available on mortgage interest that landlords of residential property can claim will be restricted to the basic rate of income tax. The restriction will be phased in over a four year period, starting from April 2017. The government will also refor

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Chestertons Residential Observer - July 2015

2015-08-11   Encouraging data from HMRC, which show the number of house sales in May rose – but we still need more homes available for sale Nick Barnes Residential sale transactions in May were 11.6% higher than in the previous month but 4.5% lower than in May 2014 according to provisional figures form HMRC.

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House Prices July 2015

2015-08-11   The national housing market continues to labour under a shortage of available properties and affordability issues Nick Barnes The deceleration in London prices is being mirrored at national level with average annual growth slowing from 5.1% in April to 4.6% in May according to Land Registry data. Annual price growth accelerated in the South East to match London at 9.1%. The only other regio

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Rental Values July 2015

2015-08-11   Average rents in the private sector continue to rise in both London and nationally. Nick Barnes The average UK rent for private tenancies in June was £982 pcm, 2.3% up on May and 13.8% higher than in June 2014, according to the Homelet Rental Index. Average monthly rents (£1,561) in London rose by 3.7% in June compared to May and were 10.6% higher than in June 2014. Download

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Tax planning and regulatory news June 2015

2015-06-29   Good to see that the Government appears to be getting the message that we also urgently need more homes to rent in London. Nick Barnes Housing Minister Brandon Lewis has announced that three multi-million pound deals will provide more than 1,000 new homes specifically for private rent in London. The agreement, part of the £1 billion Build to Rent fund, will see £252 million inve

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The last word June 2015

2015-06-29   More people are cycling in London than at any time since records began, according to data from Transport for London (TfL). Cycle journeys on all roads in London have risen by almost 25% and on the TfL main roads by 59% since the Mayor took office in 2008. 2014 was also the safest year on record for London cyclists. Download full report Download report

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Mortgage market June 2015

2015-06-29   Aggregate mortgage lending in the first five months of the year is 4.5% lower than in the corresponding period in 2014. Nick Barnes Gross mortgage lending in May (not seasonally adjusted) showed little change on the previous month or on the same month last year, according to the Council of Mortgage Lenders (CML). It rose by 2% on the previous month to an estimated £16.2 billion, but wa

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Chestertons Residential Observer - June 2015

2015-06-26   There is little sign yet of a jump in sales activity following the Election. Is the market now waiting to see what surprises the July budget brings? Nick Barnes HMRC data for April reveal that UK residential sales fell by 5.5% compared to the previous month and were 6.8% lower than in April 2014. According to the Halifax, the average age of first time buyers is now 31 - up from 28 in 1995.

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House Prices June 2015

2015-06-26   The expected post-Election pick-up in house price growth has yet to materialise. This is surprising given the shortage of available properties to buy and the strength of buyer appetite. Nick Barnes House prices - London Land Registry data reveal the rate of annual house price growth in the capital has been trending downwards since August last year although it remains robust (+10.9% in Apri

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Rental Values June 2015

2015-06-26   Average rents have been trending upwards since the beginning of the year both nationally and in London. Nick Barnes The Homelet Rental Index reports that average UK rental values reached £960 pcm in May which was 12.5% higher than in the corresponding period in 2014. The Index also shows that average rents in London in May (£1,506 pcm) were up 10.7% on the corresponding month la

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Mortgage market May 2015

2015-05-29   The availability of cheap credit is vital to the health of the housing market. Nick Barnes Mortgage market Reversing the declining trend of the previous two months, gross mortgage lending in March rose by 21% compared to the previous month and was 7% higher than in March 2014. Latest Halifax data indicates that affordability – as measured by mortgage repayments as a percentage of in

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Rental values May 2015

2015-05-29   Rental value growth continues to accelerate both at national level and in London. Nick Barnes Rental values The Homelet Rental Index reports that average UK rental values for new tenancies in Q1 were 10.1% higher than in the corresponding period in 2014. The average national rent in March stood at £918 pcm. Average rents for new tenancies in London were 8.4% higher over the same period

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Tax planning and regulatory news

2015-05-29   A new All-Party Parliamentary Group for housing and planning comprising MPs and peers has been set up to examine ways of tackling the housing crisis. The group will consider increasing the housing stock for both rental and private ownership, plus speeding up the building of sustainable homes in the UK, which now faces an annual shortfall of 130,000 homes. A year after the launch of the Mayor's

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Chestertons Residential Observer - May 2015

2015-05-29   House prices - London The latest data from the Land Registry show that average sold house prices in London rose by 11.3% in the year to March. This is lower than the previous month's figure but nonetheless comfortably outstrips inflation. At borough level, annual house prices are still rising fastest in Newham (+19.8%) but Greenwich (+18.8%) now moves into second place.

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The last word May 2015

2015-05-29   The Last Word May 2015 The last word The Mayor of London has confirmed that the capital's population is now larger than at any time in its history, having just passed the previous peak recorded in 1939. More than 8.6 million people are now living in London with the latest projections estimating that the city will be home to 11 million people by 2050. Download full reportDownload report

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Housing market activity May 2015

2015-05-29   Housing market activity: sales, rentals, development & investment UK residential sales rose by 16.6% in March compared to the previous month and were 1.7% higher than in March 2014, according to HMRC data. New figures released by the NHBC for Q1 2015 show that more than 40,000 new homes were registered in the UK during the first three months of the year, an increase of 18% on the same pe

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Chrome April 2015 The last word

2015-04-23   The Independent recently published a list of the country's top 10 most unusual street names. Letsby Avenue in Sheffield comes in at number one thanks to the fact that it is the address of the South Yorkshire police operations' centre. A worthy second place is Whip-Ma-Whop-Ma-Gate in York. Among the names that just missed out was Labour in Vain Yard in Norwich and several No Name Streets. Down

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Chestertons Residential Observer - April 2015

2015-04-23   Rental growth at national level accelerated over the past three months whereas in London, despite the demand pressure for rented accommodation, rental growth slowed. According to the Homelet Rental Index, average UK rental values for new tenancies in the three months to February were 9.2% higher than in the same period in 2014. Read our full market report here.

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Chrome April 2015 Housing market activity

2015-04-23   Last year the number of new homes built in England was 25% lower than the pre-recession five-year average Nick Barnes Housing market activity: sales, rentals, development & investment HMRC data reveal that national residential house sales in February were marginally higher (+0.6%) than in January but were 7.6% lower than in February 2014. New research from financial specialist Key

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Chrome April 2015 Tax, planning and regulatory news

2015-04-23   The regulatory environment for the private rented sector is being tightened. Nick Barnes Buy-to-let landlords face a possible raft of new regulations which will impact upon their businesses. The key measures are as follows: Landlord registration and licensing: After 1 April 2015 local councils will no longer be able to licence landlords across a whole borough or city without prior permissio

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Chrome April 2015 Mortgage market

2015-04-23   First time buyers may be reaping the benefits of low interest rates and competitive lending products Nick Barnes The Council of Mortgage Lenders estimates that gross mortgage lending reached £13.4 billion in February. This is 9% down on both January and on last February and is the lowest monthly estimate for gross mortgage lending since April 2013. Recent research from Barclays highli

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Chrome April 2015 House Prices

2015-04-22   While price growth in the wider market picked up in February, it remains to be seen whether this represents a turning point in the cycle. Nick Barnes House prices – London Land Registry's House Price Index reveals that average annual price growth accelerated slightly in February (+13.1%), the first time since last August. This takes the average house price in London to £463,

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Chrome March 2015 Rental Values

2015-03-18   Rental growth in the private sector both nationally and in London has overtaken price growth in the sales market. Nick Barnes, Head of Research Report Highlights Average UK rental values for new tenancies in the three months to January were 8.9% higher than in the corresponding period last year according to Homelet. Average UK rents now stand at £878 per calendar month. Homelet repo

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Chrome Report 2015 Housing Market Activity

2015-03-18   Further evidence - from the English Housing Survey this time – that the private rented sector is in urgent need of an increase in available stock. Nick Barnes, Head of Research Housing market activity: sales, rentals, development & investment There was a further drop in national residential sale transactions in January which were down by 25.3% on the December figure and 9.8% l

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Chrome March 2015 House Prices

2015-03-18   The prime sector remains fairly flat and it is the new homes sector, with a high proportion of investors, which is largely driving growth across the capital. Nick Barnes, Head of Research Top 5 London boroughs: house price growth Newham 23.4% Waltham Forest 22.1% Southwark 21.1% Lambeth 20.2% Ealing 19.3% National barometer Further signs of a slowing market are apparent in the latest

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Budget 2015: Chestertons Summary

2015-03-18   With the General Election less than seven weeks away, the Chancellor had little choice but to deliver a benign Budget aimed at attracting any undecided voters. With the General Election less than seven weeks away, the Chancellor had little choice but to deliver a benign Budget aimed at attracting any undecided voters.

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Chestertons Residential Observer - March 2015 

2015-03-18   It is encouraging that more Government effort – national and local – is being directed towards increasing housing supply. However, a lot more still needs to be done.

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Chrome March 2015 Mortgage Market

2015-03-18   With the likelihood of interest rates rising this year appearing to diminish, the window of opportunity for buyers to take advantage of some very attractive mortgage deals looks set to remain. Nick Barnes, Head of Research Latest data from the Council of Mortgage Lenders shows that UK mortgage lending in January fell by 11.3% compared to December and was 13.8% lower than in January 2014. Wit

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Chrome March 2015 the last word

2015-03-18   Based on actual East End prices, the average house price in 'Walford' has risen from £32,567 in 1984 to £336,175. Nick Barnes, Head of Research House prices around the London borough where EastEnders is set have increased more than ten-fold over the 30 years since the TV series began in 1985, according to research from Halifax. Based on actual East End prices, the average house

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Annual Tax on Enveloped Dwellings - February 2015

2015-02-24   The Government has recently made a number of important announcements with regard to the taxation of residential property in the United Kingdom. The Government has recently made a number of important announcements with regard to the taxation of residential property in the United Kingdom.

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Capital Gains Tax: Non-resident owners of UK residential property - February 2015

2015-02-24   Read our full report here, where we summarise the key changes regarding CGT on non-resident owners and what the implications are for anyone either currently owning or thinking of buying UK residential property.

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Inheritance Tax and trusts - February 2015

2015-02-24   We summarise below the key changes regarding IHT with regard to property trusts and what the implications are for anyone either currently owning or thinking of buying UK residential property. Whilst the scope of these announcements in some cases has a wider impact, this note focuses purely on the implications as they relate to residential property.

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Chrome February 2015 - Tax and regulatory news

2015-02-11   Wandsworth council has increased its house building target by 60%. Nick Barnes, Head of Research Stormy Cloudy Settled Fair Fine Wandsworth council has increased its house building target by 60% in a bid to meet demand from middle-income workers who have been squeezed out of the London housing market. The borough now plans to deliver 18,000 homes over the next 10 years. The council may addi

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Chrome February 2015 - Mortgage market

2015-02-11   Key mortgage rates ended 2014 at their lowest level in 20 years. Nick Barnes, Head of Research Stormy Cloudy Settled Fair Fine Latest available data from the Council of Mortgage lenders reveals that gross mortgage lending in 2014 was 16.9% higher than in 2013 and the highest annual total recorded since 2008. However, lending in the final quarter of the year dropped by 8% compared to Q3. Ke

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Chrome February 2015 - House prices

2015-02-11   The prime segment meanwhile is experiencing further price slippage in some locations. Nick Barnes, Head of Research Top 5 London boroughs: house price growth Waltham Forest 25.1% Newham 24.2% Southwark 23.8% Lambeth 23.3% Lewisham 21.8% Land Registry reveal further slowing in annual house price growth in London, although at 16.3% in the year to December, average price growth remains

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Chrome February 2015 - The last word

2015-02-11   Wandsworth received the highest number of in-migrants (29,710) which equated to 9.6% of the total resident population. Nick Barnes, Head of Research Latest available data from the Office for National Statistics (ONS) show that in the year to end-June 2013, a total of 552,520 UK residents moved into London, 65% from other London boroughs and 35% from outside London. Wandsworth received the hi

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Chrome February 2015 - Rental values

2015-02-11   Average rents for new tenancies in London fell by 1.1% in December. Nick Barnes, head of Research The latest Homelet Rental Index reports that in the three months to December 2014, average rental values for new tenancies in the UK were 7.6% higher than in the same period in the previous year. Average rents for new tenancies in London fell by 1.1% in December to stand at £1,393 pcm but

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Chestertons Residential Observer - February 2015

2015-02-11   UK residential property transaction numbers in December rose by 6.5% compared to November and were 2.3% up on the December 2013 figure. Transaction numbers for 2014 as a whole reached 1.23 m – the highest number recorded since 2007 and 13.9% up on 2013.

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Chrome January 2015 - Rental values

2015-01-22   Average rental values for new tenancies in the capital stand at £1,408pcm. . Nick Barnes, Head of Research Homelet reports that average rents for new tenancies in London in November fell by 0.2% compared to October but were still 11% higher than in November 2013. Average rental values for new tenancies in the capital stand at £1,408pcm. NB comment: private sector rents are risin

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Chestertons Residential Observer - January 2015

2015-01-22   UK monthly transactions (non-seasonally adjusted) in November fell below the 100,000 level for the first time since April and were 10.2% lower than in November 2013. Nonetheless, total transactions for the year to November were still 3.9% higher than for the full year 2013.

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Chrome January 2015 - Tax and regulatory news

2015-01-22   Mayor Boris Johnson has called for reforms to planning policy to allow denser developmentaround transport hubs. Nick Barnes, Head of Research Towards the end of last year, the Government made a number of important announcements with regard to the taxation of residential property in the United Kingdom. The basis, thresholds and rates for Stamp Duty Land Tax were all revised in the Autumn St

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Chrome January 2015 - Mortgage market

2015-01-22   Total gross mortgage lending between January and November was 7.7% higher than the full year figure for 2013 Nick Barnes, Head of Research Gross mortgage lending fell in November according to the Council of Mortgage Lenders (CML) – by 9.2% compared to the previous month and by 0.1% compared to November 2013. However, total gross mortgage lending between January and November was 7.7% h

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Chrome January 2015 - House prices

2015-01-22   Average annual sold price growth slowing in London – from 18.6% in October to 17.4% in November. Nick Barnes, Head of Research Top 5 boroughs Southwark 27.2% Lambeth 26.5% Waltham Forest 25.7% Lewisham 24.1% Haringey 23.7% House prices – London Latest available data from Land Registry show average annual sold price growth slowing in London – from 18.6% in Octobe

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Chrome January 2015 - The last word

2015-01-22   The top 50 places to live in the UK are again dominated by the South East with over half (26). Nick Barnes, Head of Research The district of Hart in north east Hampshire tops the 2014 Halifax Quality of Life Survey for the most desirable place to live – for a record fourth year in succession. On the flip side, the cost of living in Hart is much higher than in many other parts of the UK

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Chestertons Residential Observer - December 2014

2015-01-18   Chestertons' review of the 2014 property market and our expectations for 2015. In addition to this we would like to wish all our readers a Happy New Year!

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Chestertons Monthly Property Market Review - December 2014

2014-12-22   House prices across England and Wales in October were just 0.1% higher than the previous month, but up 7.7% on a year ago, taking the average house price to £177,377, according to the Land Registry. Read our full market review here.

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Chrome November 2014 - Mortgage market

2014-12-02   Interest rates appear set to remain low for some time to come. Nick Barnes, Head of Research Report Highlights Having dipped in September, gross mortgage lending rose 5% in October to reach £19bn. New loans to first time buyers in Q3 were 3% up on Q2 and 15% higher than in Q3 2013. The Bank of England has introduced further new rules on bank safety nets. Having dipped in September,

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Chrome November 2014 - House prices

2014-12-02   Although there is some evidence that transaction numbers are slowing in London, prices continue to rise strongly with the exception of prime London. Nick Barnes, Head of Research Report Highlights Average house price growth in London accelerated slightly from 18.4% in September to 18.6% in October. Average annual sold prices in England & Wales accelerated to 7.7% in October compared to

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Chrome November 2014 - The last word

2014-12-02   The City of London has just 4.8% of its area classified as green. Nick Barnes, Head of Research Report Highlights Havering contains more green space than any other London borough. With regard to domestic gardens, Harrow has the highest borough ratio compared to overall space. Management consultancy firm AT Kearney's 2014 Global Cities Index ranks London in second place after New York. Ha

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Chrome November 2014 - Rental values

2014-12-02   Affordability in the private rented sector in London is now worse than for the average homeowner. Nick Barnes, Head of Research Report Highlights Growth in average rents in London slowed to just 0.1% between August and September. The latest Homelet Rental Index reveals that growth in average rents in London slowed to just 0.1% between August and September compared to 2.4% in the previous m

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Chestertons Residential Property Research - Autumn 2014

2014-12-02   There are strong signs that the residential market in prime London has reached its peak in the current cycle. London’s prime residential lettings market continued to improve during the third quarter, although conditions remained testing.

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Chestertons Residential Observer - November 2014

2014-12-02   The latest Housing Market Report from the National Association of Estate Agents (NAEA) shows that the number of people actively looking to buy property in September reached the highest level since 2004. However, the report also noted that the number of properties available to buy in September was the lowest for that month since 2002.

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Autumn Statement 2014

2014-12-02   With a general election less than six months away, the Chancellor will want to deliver a voter friendly message. However, he is faced with a rising budget deficit and sluggish tax revenue.

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Chrome November 2014 - Tax and regulatory news

2014-12-02   The proposed extended controls on mortgage lending are likely to result in fewer mortgage approvals going forward. Nick Barnes, Head of Research Report Highlights The controversy surrounding Labour's proposed Mansion Tax is gathering pace. Members of the all-party Parliamentary group on housing and care for older people have recommended a Stamp Duty concession for older homeowners looking t

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Chestertons Overseas Research and Lifestyle CORAL Spring 2014

2014-11-30   Although house prices have dropped throughout France there is a growing optimism that 2014 will prove to be a turning point for the wider property market Nick Barnes, Head of Research Overview Following one of the wettest winters on record spring has sprung and the focus of the second home market steers away from ski chalets in the Alps and winter sun retreats in Barbados and towards the Medit

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Chestertons Monthly Property Market Review - November 2014

2014-11-26   The first signs of a slowdown in the housing market appeared in September as house prices across England and Wales fell by 0.2% from August to an average of £177,299, according to the Land Registry. However, this still represents a 7.2% uplift on the same month in 2013.

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Chrome October 2014 - Rental values

2014-10-30   Average rental values in London rose by 2.4% Nick Barnes, Head of Research According to the latest Homelet Rental Index, average rental values in London rose by 2.4% from July to August, to reach a record £1,464 pcm - 11.4% higher than in August 2013. NB comment: supply has become more constrained while tenant demand remains firm which is exerting upwards pressure on rents in the broa

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Chestertons Residential Observer - October 2014

2014-10-30   House sales remain firm despite strong pricing. However, there is anecdotally increasing concern about mortgage controls and the sustainability of current price growth as well as frustration at shortages of available property to buy.

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Chrome October 2014 - Tax and regulatory news

2014-10-30   As a static asset, property presents an easy target for taxation. Nick Barnes, Head of Research Report Highlights The Labour Party is reportedly considering a new secret tax on the high street to try to boost ailing town centres across the UK. There is still no word from the Government on the final rules and charges which will apply when Capital Gains Tax is extended to include non-reside

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Chrome October 2014 - Mortgage market

2014-10-30   The recent drop in inflation has prompted predictions that interest rates will not now rise until next summer. Nick Barnes, Head of Research Report Highlights Latest Council of Mortgage Lenders' data show that mortgage lending in September declined slightly compared to August. The average loan-to-value for first time buyers in August was 83%, compared to 70% for home movers. The Bank of

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Chestertons Residential Observer - October 2014

2014-10-30   There are a number of indicators pointing to a cooling in the housing market. Latest non-seasonally adjusted data (i.e. the actual numbers that occur over a period of time) for house price growth from official sources suggest a moderate slowdown in price growth and mortgage lending.

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Chrome October 2014 - The last word

2014-10-30   More and more French people are apparently choosing the UK, and especially London, over their homeland. Nick Barnes, Head of Research Report Highlights More and more French people are apparently choosing the UK, and especially London, over their homeland. Westminster has the highest ratio of privately rented homes in London. Stormy Cloudy Settled Fair Fine Parlez-vous français?

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Chestertons Monthly Property Markets Review - October 2014

2014-10-27   Since the previous peak in the market before the recession prices in London have more than recovered and the London average house price is now a third higher than in February 2008.

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Chestertons Monthly Property Markets Review - September 2014

2014-10-03   In the year to July house prices across England and Wales increased by 7.2%, and by 1.7% from June, to an average of £175,653, the latest house price index figures from the Land Registry reveal. All 10 regions saw annual house price increases above the rate of inflation with London topping the charts at 19.3%. For the first time since May 2010 a region, other than London, recorded double digit growth as house prices in the South East in July stood 10.2% higher than a year earlier.

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Property tax update - September 2014

2014-09-29   The Government has confirmed that, with effect from April 2015, non-resident owners of UK residential property will be liable to capital gains tax in the UK upon disposal of their properties. The Government has stated that pension funds and other diversely owned collective investment funds are not intended to be brought within the scope of the extension of CGT to non-residents.

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Inheritance Tax and Trusts - September Update

2014-09-29   HMRC has been looking at ways of simplifying the inheritance tax system. Nick Barnes, Head of Research Inheritance Tax (IHT) and trusts HMRC has been looking at ways of simplifying the inheritance tax system as it relates to trusts over the past couple of years. The third and most recent consultation, which ended on 29th August, has proposed changes to the current charges system which could h

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Unremitted offshore income and gains used as collateral for obtaining and servicing loans in the UK

2014-09-29   HMRC has tightened its stance with regard to unremitted offshore income. Nick Barnes, Head of Research HMRC has tightened its stance with regard to unremitted offshore income and gains used as collateral for obtaining and servicing loans in the UK. The changes, which have already been introduced, were made without any prior consultation. What was the old system? There were two possible sour

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Chestertons Residential Observer Monthly Edition - September 2014

2014-09-26   Gross mortgage lending reached an estimated £19.1 billion in July. Nick Barnes Report Highlights Highest ever fall in August house asking prices July mortgage lending volume reached highest monthly level since August 2008 Homes located 500 metres from a tube or rail station command a 10.5% premium The average loan-to-value ratio for London mortgages is 75% Stormy Cloudy Settled Fai

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Chestertons Residential Observer - August 2014

2014-09-04   The latest Homelet Rental Index reveals that average London rental values rose by 9.4% in the 12 months to July, taking the average monthly rent up to £1,429, whilst London annual house price growth slowed in June – but remains strong at 16.4%.

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Chestertons Overseas Research and Lifestyle - Summer 2014

2014-08-20   We are pleased to announce the launch of our new office in Marbella. Read our full research and lifestyle report on the following areas: Marbella, Sotogrande, Barcelona, Gibralter amd the Balearic Islands (Mallorca & Ibiza).

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Chestertons Residential Observer - July 2014

2014-08-14   Monthly rents in the 12 months to q1 2014 averaged £1,633 in Inner London and £1,245 in Outer London. Valuation Office Report Highlights Q1 London house sales up by 26% compared to Q1 2013 26 of London's 33 boroughs now seeing double digit annual house price growth Over half of UK homes not covered by mortgage protection insurance Average equity loan size rose by 17% in first ha

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Chestertons Monthly Property Markets Review - July 2014

2014-07-30   The National Association of Estate Agents (NAEA) has reported a noticeable slowdown in first time buyers' in June, with sales falling 20% from May. The struggles are particularly apparent in the 18 – 30 years old age bracket which accounted for just 3% of first time buyer sales last month, the lowest reading since the NAEA started tracking sales.

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Chestertons Residential Observer - June 2014

2014-06-30   Annual house price growth in London accelerated sharply to 17% in April, whilst UK residential sales in the first four months of this year were 30.3% higher than in 2013.

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Chestertons Monthly Property Markets Review - June 2014

2014-06-27   Signs of a nationwide housing recovery are growing stronger as all 10 regions across England and Wales saw house prices outpace CPI on an annual basis, according to the latest data from the Land Registry. 

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Average national rents rise by year-on-year in June according to ONS

2014-06-17   The region with the fastest growth over the period was London at 1.4%. Nick Barnes, Head of Research The ONS Index of Private Housing Rental Prices reveals that average national rents rose by 1.0% in the year to June 2014. The region with the fastest growth over the period was London at 1.4%. The general rental market in the Capital is seeing stronger rental growth (more than twice the rate of

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Chestertons Residential Observer - May 2014

2014-06-16   Average house price inflation slowed again in March, although at 12.4% the annual growth rate remains steamy. The picture looks even more dramatic at borough level, with four boroughs recording growth in excess of 20%, led by Waltham Forest (+23.5%) and Lambeth (+21.9%).

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