Knock-Knock? Who's there? It's this week's big talking points in the world of property. Welcome to a new weekly feature across SellMyHome and RentMyHome bringing you all the big talking points and debates happening across the property sector in one easy-to-digest bite-size format. We want you to be up-to-date with all the industry talking points, that's why every Monday we will bring you the 8 biggest stories in the industry. Get involved with the debate in the comments section below or on Twitter and Facebook.
Right To Buy Scheme Resuscitated: Having won the general election Prime Minister David Cameron will this week announce plans to revive the Right To Buy scheme. Passed in The Housing Act of 1980 the Right To Buy Scheme allows secured council tenants to buy their property at a lower price than market value. The Conservatives' scheme would allow house tenants to buy their property for 35% less than market value while flat tenants would be able to purchase at 50% below market value.
It's a beach life: Or, it is as far as beach town properties are concerned with news from leading UK market lender Halifax discovering that house prices in British seaside towns have increased by up to a third over the last decade. However all of the top ten towns that have seen the upswing are situated in the South.
Britain Becoming Unaffordable: If house prices continue to rise as expected then property group JLL are predicting it will become "unaffordable to exist" in Britain. Over the next five years house prices are expected to rise 22.8pc with London properties expected to rise 29.4pc. Adam Challis of JLL states the reason for this is due to the building industry not being equipped to build enough new properties to keep up with the burgeoning population.
Green Belt Restrictions Need Lifting: The housing crisis can only be solved by lifting the green belt restrictions on where new properties can be built according to Andy Hill, the founder and chief of Hill Partnerships a leading housebuilder in the South-East. The green belt sites are designed to protect Britain's Countryside. However the government insist that brownfield sites, those on which buildings already exists, have enough space to house an estimated 2.5 million homes. The issues arise at the increase in cost of demolishing already standing structures on these lands.
Housing Market Dependent On EU: Nationwide's Chief Executive Graham Beale expects the housing market to be stronger this year as long as Britain remains part of the European Union. The building society helped 46,000 first-time buyers onto the property ladder while reporting an underlying profit of £1.2bn for 2014-1025.
Property Porn: Swiping through people's dating profiles online is old school, step forward Knocker a new app which allows you to see houses for sale in the area you are currently in. Wherever you are Knocker will allow you to take a glimpse at properties on the market in the area including an array of photos taken from property market websites. It's not being a peeping tom, honestly.
Election Jitters Cause Slump: London property saw a massive drop in price in the build-up to the election. With people unsure of who would win the General Election central London properties fell eight percent from the start of the year until March. But with the Conservatives having won the election the industry breathed a sigh of relief and expected things to bounce back quickly.
Cheap Mortgages Disappearing: If you're looking to take out a mortgage now is the last moment to get what is fast becoming a changing landscape. Lenders have started pulling some of their cheapest deals with the lowest fix-rate mortgages going from 1.99% to 2.14%. Woolwich currently have an offer still at 1.99% but that will end tomorrow.
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