The latest Nationwide House Price Index figures revealed,the UK house prices have seen an annual increase of 5%, the highest growth since September 2016.The average house price is now standing at £226,129.The figures also revealed that month-on-month prices have increased by 0.9%. Commenting on reasons for the increase, Robert Gardner, chief economist at Nationwide, said:…
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Redrow, the British housebuilder, has reported that profits tumbled by almost two-thirds over the year to June 28 due to the effects of the coronavirus pandemic. COVID-19 pandemic affected construction and sales which lead Redrow to lower profits. It said that pre-tax profits slid by 65.5% to £140 million for the year, as revenues dived…
First-time buyers are facing a mortgage crunch as Britain’s biggest banks axe low deposit loans. The top lenders have axed loans for deposits of 10% or less for the first time ever. They took this step after receiving uncountable applications from wealthy families attempting to take advantage of the stamp duty holiday. Actually, wealthier people…
The real estate agents are reporting that Hong Kong buyers are investing in London’s prime housing market on above-average levels. Beauchamp Estates London reports in its new wealth survey that over the past 6 months it has sold more than $374 million worth of luxury London residential property to Hong Kong buyers. Hong Kongers bought…