• -9% slip in transaction volumes over the last year according to latest HMRC figures. Despite a month-to-month increase of +13% from May to June, powered mostly by improved activity in Scotland, the number of transactions recorded by HMRC has fallen over the past year. IndustryEYE.
  • Big surge in down-valuations by surveyors may indicate a market crash experts warn. Speaking on the Victoria Derbyshire Show Emoov’s CEO said that one-in-five of its transactions is being down-valued after sale. This is up from one-in-twenty only two years ago. IndustryEYE.
  • Average discount on asking price now sits at 3.7% across the UK according to Hometrack data. Their latest data shows house price inflation now sits at +4.6% annually and ranges from +7.6% in Manchester to -2.8% in Aberdeen. The number of cities within their index registering annual price falls has risen from four last month to six in this month’s report. London’s market is showing signs of correction as the difference between discounts and asking prices narrows to its lowest point in two years. IndustryEYE.
  • Housebuilding generates £38bn a year for the UK economy and supports some 700,000 jobs. Research by planning and development consultancy Lichfields found the industry also contributed £1b toward infrastructure projects, spent £11.7bn with suppliers, invested £12bn in land for new homes, and agreed 50,000 units of affordable housing via S106 agreements with a total value of over £4bn. DevelopmentFinanceToday.
  • The revised National Planning Policy Framework will focus on build quality, aesthetic, environmental impact, and building the right number of homes in the right places. As part of the new framework, Council’s will have greater powers to challenge and reject developments that do not meet quality thresholds or complement the local area. Additionally, the new framework hopes to foster greater community engagement in the planning process. Local communities will be allowed to see the proposed development before work starts and feedback on its quality and suitability to the local community. PropWire.
  • SME housebuilders have reported rising workloads and improved confidence in Quarter Two of this year despite increased costs and skill deficits. This continues a trend of five years of successive quarterly growth in workloads and confidence.  The Federation of Master Builders’ latest market survey found 54% of respondents feel positively about the next six months. PropWire.
  • 78% of Britons believe the environmental credentials of a property are highly important when buying a new home. The largest proportion of environmentally-minded buyers is in London, where 81% feel passionately about a property’s green features. Of those features, participants ranked energy efficient heating and hot water systems as their top priority, followed by double glazing and solar panels. The study was carried out by warranty speciality BLP Insurance. PropWire.
  • More first-time buyers than home-movers for the first time since 1995. Lloyds Bank’s latest review found home movers accounted for 49% of the market in the first half of 2018 compared to 62% in 2011. The recent fall in home-movers is being attributed to record high deposits required for home-moving mortgages and increased average price paid by home-movers, up +35% in the last five-years. Unlike first-time buyers who have access to government help schemes like Help-to-Buy, there’s limited support for home-movers. PropWire.