Some tips on increasing income from your house. The most obvious solution to earning money from your house is taking in a lodger. If done well, this can be beneficial and earn a substantial amount towards your mortgage. Just take a few steps to make sure you are compatible with the lodger, such as laying [...]
The Effect of Second Homes on House Prices
Rising demand for second houses has caused higher prices, especially in local property hotspots such as tourist areas like the Lake District. This can cause economic problems. In particular, local first time buyers may be forced out of the market. Therefore, they will either have to rent, or they may be encouraged to leave the [...]
What Determines House Prices?
House prices are determined by a number of different factors. Firstly there are ‘economic fundamentals’ these are factors such as economic growth and the level of average incomes. However, in addition to the basic economic reasons, house prices are often quite volatile because other factors influence the level of house prices. In the UK and [...]
North – South House Price Gap narrows
The North of England used to be a good place for first time buyers to get on the property ladder. However, in recent years the price of houses in the north has increased significantly, reducing the gap between north and south. The result is that many areas in the north are becoming as expensive as [...]
Stamp Duty Rates UK
Homeowners pay 0% stamp duty on houses upto the value of £125,000 1% on homes priced between £125,000 and £250,000 3% for homes between £250,000 and £500,000 4% for homes valued at more than £500,000 However, the average first time buyer is still paying a lot more stamp duty because of rising house prices. It [...]
Latest on UK Housing Market
For latest news on UK house prices, UK mortgages and the general state of the housing market, visit our Housing Market Blog. Recent articles include: Is 2008 a good time to buy a house? Predictions for UK House prices 2008 State of Buy To Let Housing Market
Increase in Supply of Houses Promised
Gordon Brown promises 3 million New Homes will be built by 2020. At the moment the UK has one of the lowest house building rates since the second world war. To increase the rate by 40,000 a year may cost the Chancellor upto £10 billion in social housing costs. The increase in housing supply is [...]
Affordable Housing Plans in UK
The new UK Prime Minister Gordon Brown has pledged that increasing the amount of affordable housing will be a prime target of the UK government. Affordable housing has become an important political issue, in recent years. It stems from the rapid rise in house prices, making it increasingly difficult for first time buyers to get [...]