On 19 Jan 2016 the Office for National Statistics (ONS) released their House Price Index for November.
The key figures relating to house price changes in the UK are as follows:
- UK house prices up by 7.7% in the year to Nov 2015.
- House price inflation in England was 8.3%, up from 7.0% to Oct 2015.
- Average sold house prices in the South-East rose by 9.8%, up from the 9.5% 12 month increase to Oct 2015.
A total of 22 properties were sold during Nov 2015 in Newbury RG14, for an average of £333,143. This is a change of 16.5% against Nov 2014. Please note that not all Nov house price sales will yet have been reported, and so these figures will change.
On 14 Jan 16 the Council of Mortgage Lenders (CML) released their data on loans made in November 2015. Key points as follows:
- 27,900 loans were advanced to first time buyers, for a total of £4.2Bn. This is an increase of 10.3% in number, and 13.5% in value from Nov 2014.
- 23,300 loans were advanced for BTL, for a total of £3.5Bn. This was up 34.7% in number and 45.8% in value against Nov 14.
We continue to see strong price growth in Newbury RG14 property, and combined with increasing costs and regulatory requirements for Landlords, it is becoming ever harder to make a profit from rental property. Good data and a deep understanding of the market are essential. We can help.