28th July, 2016
Four million working people to face affordable housing crisis by 2024
Millions of working people will no longer be able to afford somewhere decent to live by 2024 and will need access to some type of affordable housing, new research published by the Local Government Association warns.
The LGA, which represents more than 370 councils in England and Wales, is calling on new ministers to take urgent steps so councils can resume their historic role as a major builder of new homes and help tackle the nation's deepening housing crisis.
It warns the economic uncertainty caused by Brexit and a widespread and growing demand for affordable homes - including for social and affordable rent - makes it even more important for councils to be handed greater powers to build new homes.
Are 6 million 45+ homeowners over-optimistic about retirement income from their property?
Long term growth in UK house prices and homeowners' lasting attachment to their homes mean people are turning attention towards property wealth to help manage their finances and boost retirement incomes, according to the latest Aviva Real Retirement Report.
It shows almost half (46%) of over-45 homeowners – equivalent to 6.08million UK households – see the wealth built up in their property as a key part of their retirement income plans, rising to 58% among the youngest age group asked (45-54s). A generational shift in attitudes means this group are almost as likely to see property wealth as part of their retirement income plans as their inheritance plans (60%).
But with many over-45 homeowners pressured by existing mortgage debt, a desire to help younger generations onto the housing ladder and concerns over making their money last in later life, the report raises the question: is there enough house to go around?
East of England is the country's new hot spot for house price growth: new report
UK house prices edged up in June, but uncertainty looms, according to LSL Property Services' latest House Price Index. After three months of falls, including a 0.9% dip in May, average prices in England and Wales saw a modest recovery, up 0.6%.
Looking at regional variations, in May average house prices paid in the capital were down 1.4%. That’s the third successive monthly drop and the biggest in cash terms (£8,400) since May 2011. Nevertheless, while annual house price growth in Greater London is down from 9.7% last month, it’s still up 7.3% over the year.
Moreover, the country has a new hot spot for house price growth: the East of England region, led by commuter towns such as Luton and Thurrock. With annual growth of 21% and 16%, respectively, these continue to shrug off the uncertainty.
One in four homes earns more than its owners: Halifax
Average house prices have increased by more than the average employee's net earnings in more than a quarter of local authority districts across the UK – 108 out of 380 (28%) – over the past two years, according to the latest Halifax research.
Barclays Mortgages reveals the top technology that can attract homebuyers
Demand for houses fitted out with the latest home technology is increasing, and a new Digital Homes Report released today by Barclays Mortgages has revealed that almost a third (30 per cent) of homeowners surveyed online believe installing technology in their home will increase its value.