This week has seen more data and research emerging looking back over last year’s property market and house prices, as well as predictions for the year ahead based on the latest analysis. The mortgage market is proving interesting as lenders look to support the industry with increased options for borrowers, and a lot could be set to change for owners of leasehold properties as it comes under the spotlight. Here are seven things you might have missed this week…
1. Let’s look at leaseholds: Landmark legal challenge could spell big change
More than two million households in England and Wales could see costs slashed for extending leaseholds and buying freeholds, as a case comes to the court of appeal challenging a lease extension calculation of one of the UK’s richest men.
2. Huge regeneration in Manchester city centre will bring 6,000 new homes
Plans for an extensive development of new skyscrapers in Manchester, connecting the inner city area of Hulme to the city centre, have been given the go-ahead by council chiefs.
3. Cashback mortgage deals are enticing borrowers – but are they worth it?
Choosing a cashback mortgage is tempting; putting some money back in the coffers after a property purchase can alleviate some of the financial pressures and stress.
4. HS2 isn’t coming until 2026 but it could bring an early boost to north-west
The first phase of the £55.7bn high-speed rail line HS2 is expected to be completed in 2026, with the second phase – which includes Manchester and the north-west – to be opened in 2032-33. But some stations may already be benefiting from a revamp…
5. How Bitcoin investors can use profits for a mortgage deposit
Investment in digital currencies has seen a rapid growth in the last year, but Bitcoin investors hoping to cash in and get on the property ladder could be facing problems as mortgage lenders refuse to accept deposits due to money laundering fears.
6. House prices in Wales growing faster than UK average
Last year saw property prices in Wales grow by 3.3% to £179,855, and with the Severn Bridge toll fee about to be scrapped, could this be the start of the end of cheap Welsh property?
7. Smaller properties see biggest house price rise as demand increases
Two-bedroom and smaller homes saw asking prices surge by 1.1% between December and January, with more first-time buyers attracted to the market since the new stamp duty relief rules came into effect after the Autumn Budget.
