Property News

BOE: Mortgage approvals at their highest level since 2007

Mortgage approvals in September reached their highest number since 2007, according to the latest Money and Credit Statistics from the Bank of England.

The latest statistics from the BoE showed the mortgage market had strengthened on an overall basis last month, with a pick up in both mortgage borrowing and approvals.

The Commuter Towns Beating London for Rental Yields

Is London still an attractive proposition for landlords in terms of rental yields post-lockdown or have commuter towns come to the fore as tenants, whose needs have changed due to Covid-19, driven up demand – and prices – in London’s suburbs thereby providing a more profitable opportunity for buy-to-let investors? Propertista takes a look.

London contains the best and worst places to sell

Properties in the high-value Mayfair area stay on the market for 244 days on average, the slowest of all.

Doug Shephard, director at home.co.uk, added: “It is highly noteworthy that, despite the COVID-driven exodus from central urban areas, the more leafy suburbs of London remain highly popular with homebuyers.

Time to scrap stamp duty? New figures add weight to argument

New figures released this morning give weight to calls for the complete scrapping of stamp duty. The data shows there have been 20,238 transactions since the SDLT holiday was launched with a sold value of £6.7 billion.

As many as 85 percent of these transactions have fallen below the £500,000 price threshold and paid no stamp duty thanks to the holiday.