Nottingham Letting Agent Property Blog

The average cost of moving home is now £9,000, having increased by nearly 70% during the last decade. However those living in the south-east pay an average of around £16,500 while in London that figure is £19,500, according to a report from Lloyds TSB. When you combine these costs with the current demand for higher equity levels or large deposits by lenders, then it's easy to see why property sales are at record lows. However first-time buyers are currently paying considerably less at an average of £3,300 which is mainly due to lack of estate agents commission, lower solicitors fees and...

Although 2011 closed with more mortgage lending activity and a higher level of housing transactions, the Council of Mortgage Lenders points out this is coming from low levels, and cautions against reading too much into those recent figures from the Bank of England. Gross lending reached £13.2 billion in November which is 7% higher than in October and 15% more than November 2010. However the CML is estimating that gross lending will have dropped to £11.7 billion in December which is mainly due to the holiday season, but even so this figure would still be 12% higher than December 2010 and...

The Council of Mortgage Lenders recently published its forecasts for the housing and mortgage market in 2012, after confirming that it expects gross lending in for 2011 to reach a total of £138 billion, with net lending accounting for £9 billion. It is forecasting gross lending for next year to reach £133 billion, with net lending accounting for £5 billion based on current predictions for a weaker economy.It is estimated that housing transaction numbers will reach 852,000 this year while figures for next year are expected to be around 825,000. However the CML is forecasting more repossessions next year due to...

You might think you have done relatively well at the property market game, and that it hasn’t lost value since you bought it, but the truth is that rising inflation means that anyone who has bought a property after 2006 is likely to have lost money on it. According to figures from LSL Property Services, the average house price has increased 11% since 2006, which all sounds pretty good, until you take into account the fact that inflation has risen by 17% during the same period. Average salaries have gone up by 15%.In certain areas of the country the situation is...