Heard it on the Grapevine


All the latest rumblings from the property market, and the first word on future opportunities and developments affecting you


March 20, 2018
UK’s only place to avoid the six-figure average property price tag revealed!

Ask for a property costing less than £100,000 in the UK, and you are more likely to be laughed out of your estate agent’s office, with the kind recommendation of not letting the door hit you on your way out.

But in the county borough of Blaenau Gwent in south Wales, this distant dream is a reality. Costing just £97,147 on average, Blaenau Gwent in the north Gwent valleys includes the towns of Ebbw Vale, Abertillery, Brynmawr, Tredegar, Nantyglo and Blaina. It is the only local authority out of a total of 348 in England and Wales to have the average value of homes sold not exceed £100,000 – a threshold crossed by every London borough more than a decade ago. (more…)


WILL UK HOUSE PRICES GO UP OR DOWN THIS YEAR?

Global uncertainty created by Brexit negotiations and the American election has made it more difficult than ever to predict the future direction of house prices in the UK. The UK has seen a period of strong house price growth, some experts now believe that property values could stagnate, or even fall, while others point to limited supply in the...


Borrowers ignoring mortgage time-bomb, says FCA

Hundreds of thousands of homeowners could be at risk of losing their homes by ignoring how they will pay off their mortgage, a regulator had warned. Nearly one in five mortgage holders has an interest-only home loan, meaning they would need savings or other funds to pay a final lump sum. The Financial Conduct Authority (FCA) said the end...


Letting agency promoting no-deposit tenancies as ‘21st century letting’

The subject of letting agent fees has been a hot topic for many months. The Tenant’s Fees Bill has been proposed in order to promote and encourage a greater level of transparency in the housing markets and it has led to the government banning letting agents fees and capping tenancy deposits at a maximum of six weeks. Although the...


1,381 West London home development announced in former Nestle Factory

A major housing development was given the green light by Hillingdon Council at the end of 2017. The century old Nestle factory in Hayes is to be transformed into a development with 1,381 homes, after the factory closed in 2014 when production of freeze dried coffee was moved to Derbyshire. The 30 acre site was purchased in early 2015...


Those aged 55 and over own 63% of UK’s property wealth

New figures released this week from Halifax show that the value of the UK’s privately-owned homes over the past decade has grown by £376 billion to reach £6.015 trillion. Halifax estimates that the average property wealth per household is £256,912 which is an increase from £187,310 in 2007 just as the financial crisis was about to hit. The definition...