Annual London house price inflation hit 20.1% in May 2014, according to the Office for National Statistics (ONS).
But, excluding London and the South East, prices rose by a much more modest 6.4% across the UK. In England, prices rose by 11%, in Wales prices were up by 6.5%, and in Scotland they rose by 3.6%.
According to the ONS index, the average price of a house across the UK is now £262,000.
At the same time a research by Experian claims that the number of homes entering the market at above £500,000 rose by almost 30 per cent in the UK and 50 per cent in London in the last 12 months.
To find out what’s available to buy in Camden and surrounding areas (NW1, NW3, NW5, N7 & N19) covered by Oliver’s Sales contact our team : email@example.com or call us on 020 7284 1222 for the most recent sales list.
To enquire about this rare rental opportunity offering an exceptional family lifestyle in a prime London location contact Oliver's Estate Agents Rentals on 020 7284 1222 or email Oliver's today!
The very appreciative Primrose Hill Community Association to Oliver’s Estate Agents for supporting the fascinating Summer Fair 2014.
Oliver's Primrose HIll branch, 47a Chalcot Road, NW1 8LS, firstname.lastname@example.org
A new mortgage lending cap by the Bank of England was announced yesterday in an attempt to cool down the UK housing market.
Governor Mark Carney revealed new limits that will apply from 1 October 2014, including a 15% cap on the number of mortgages that banks and building societies can give to people who want to borrow more than 4.5 times their income. Currently only 11 per cent of UK bank lending exceeds that ratio. London has seen the largest increase in the proportion of mortgages worth over 4.5 times the borrower’s income.
The traditional one week festival celebrates the best of community living in NW3 and starts with a massive Fair on Heath Street on Sunday 6 July. Live music, colourful rides, exotic food, vibrant crafts, huggable pets, some seriously looking birds and lots, lots of balloons - all of that and more is coming to Hampstead for yet another unforgettable street party . All funds raised from the event are donated to Age UK Camden Henderson Court and Keats Community Library. For the second year running Oliver’s Estate Agents sponsor the exceptionally popular Birds of Prey display. So, if visiting check out the amazing line up of feathery friends brought to us by Fir Tree Falconry from Banbury, Oxfordshire. For more details about the “best community bash” on this side of the Heath see Hampstead Summer Festival’s website.
According to Halifax Building Society, house prices leapt by nearly £220 every day in May, marking the biggest month-on-month rise over a decade.
Halifax reported that the average UK property value went up by 3.9 per cent last month to £184,464, from £177,648 at the end of April. It was the fastest price increase since 4.2 per cent month-on-month growth was recorded in October 2002.
This account follows findings by the Nationwide who reported last week that property values had reached an all-time high of £186,512 on average after soaring 11.1 per cent in 12 months.
At the same time, the Nationwide House Price Index published in May ’14 states that the mortgage approvals in April were around 17% below January’s high. See the full Nationwide report here:
For properties currently available to buy with Oliver's Estate Agetns in NW1, NW3, NW5, N7 …see here.
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“Renting an apartment in London is still a cheaper option than buying for many, especially young Londoners. A growing number of London young professional renters are looking for studio and one-bed apartments in Kings Cross, Camden Town and Kentish Town”.
“Housing supply is not meeting demands and the much diminished pipeline of new properties coming onto the market continues to push prices up,” comments Paul Brooke, Oliver’s Director. “Without an increase in supply, prices, already at an all-time high, will continue to rise, resulting in many buyers being unable to compete”.
The London Chamber of Commerce and Industry has warned about the high cost of London housing affecting the Capital’s competitiveness. This warning has been copied across the national property related media in the last few days. "Soaring house prices have outstripped wage increases" and so make "living in London unaffordable for many, affecting both employees and employers." According to the report 42 per cent of London businesses feel that "their ability to recruit and retain skilled workers has been negatively affected by increasing housing costs". Highlighting the lack of housing supply as the main reason behind high prices, the LCCI wants to see more developers attracted into the market and suggests that all underdeveloped brownfield sites are to be registered by the Mayor, and the owners are to be given four years to start building before compulsory purchase is enacted, in an attempt to increase homebuilding in the Capital.
The full report is available to download from the LCCI website.
For an up-to-date list of properties available to buy in North and North West London, contact Oliver's Sales today.
T: 020 7284 1222, or email email@example.com
A colourful and lively Primrose Hill Community Fair will take place again this summer right up our street! So, If you live near Primrose Hill or will be in the area on 7 June ’14, be sure to come to Chalcot Square for the biggest NW1 summer event: the Primrose Hill Community Association Annual Summer Fair. The event takes place in Chalcot Square/ Chalcot Road on Saturday 7 June 2014 from 1.30pm to 5pm.
The very popular Paraiso School of Samba will open the Fair followed by other local favourites performing on the main stage, including Pitta Patta Dancers, Catherine’s Ballet plus new groups from in and around Primrose Hill. As always, the organiser is planning lots of fun games to suit the whole family. Oliver’s Estate Agents look forward to some delicious home-made food, locally made crafts, second hand book stalls and children’s fun area within the Square.
Oliver’s Primrose Hill branch is located next to Chalcot Square, at 47a Chalcot Street NW1 8LS firstname.lastname@example.org
If you would like to donate to this event which supports the Primrose Hill Community Association’s activities please email email@example.com