http://www.maximproperty.co.ukMaxim Property are property brokers specializing in sourcing off plan opportunities for the serious investor. With over 10 years in the property business, we have the expertise to help you build your property portfolio or buy your new home.http://www.maximproperty.co.uk/images/maxim_logo_white.gifhttp://www.maximproperty.co.ukTimes Reporter Francesca Steele kicks off a special report with the answers to your questions on the rental market.Fri, 15 Oct 2010 13:28:50 GMT The Government's decision to scrap the nation's planning infrastructure, without putting an alternative system in place, will lead to 300,000 planned homes being ditched by local authorities across the country, according to a campaign group. The National Housing Federation said that the decision to axe regional housebuilding targets and other parts of the planning infrastructure has prompted councils across England to substantially reduce their plans for building new homes. Ministers have pledged to build more homes than the previous administration, but with the equivalent of 1,300 planned homes being scrapped every day since May, the coalition already faces a tough challenge to meet its stated goal. The dismantling of the planning system began shortly after the election, with ministers scrapping regional targets and regional spatial strategies. Communities Secretary Eric Pickles formally revoked regional targets with immediate effect in July saying: 'They were a terrible, expensive, time-consuming way to impose house building.' Ministers have also re-designated gardens as greenfield sites and scrapped the density directive, which ensured that developments had to deliver minimum numbers of homes.Thu, 14 Oct 2010 09:53:59 GMT The reversal of Housing Equity Withdrawal (HEW) is continuing to accelerate, with homeowners repaying mortgages rather than increasing them, according to the latest figures from the Bank of England. HEW was -£6.2bn in Q2 2010, slightly more negative than the Q1 2010 figure of -£5.3bn (revised down from the previous published figure of -£3.2bn). Since Q2 2008, when the HEW measure first turned negative, individuals have now repaid a total of £44.2bn back into housing equity. HEW as a percentage of post-tax income was also slightly more negative than the previous quarter, at -2.5% compared to -2.1% in Q1 2010 (down from the previously published -1.3%).Thu, 14 Oct 2010 09:53:25 GMT The latest house price report from Nationwide says that house prices edged up a marginal 0.1% in September, with the three month rate of change turning negative for the first time since May 2009. Commenting on the figures Martin Gahbauer, Nationwide's Chief Economist, said: "September proved to be an uneventful month for house prices. The seasonally adjusted price index for a typical UK property was essentially unchanged in September, edging up by a marginal 0.1% from its August level. That left the annual rate of house price inflation at 3.1%, down from 3.9% in August and 6.6% in July. The three month on three month rate of change - a good indicator of the near term price trend - fell from 0.0% in August to -0.9% in September. This represents the first negative reading for the three month rate of change since May 2009 and is consistent with the clear loosening of housing market conditions observed over the summer months. "Although the three month rate of change has turned negative, at this stage it is not pointing to a significant pace of decline in property values. During the 2008 downturn in house prices, the three month rate of change dropped as low as -5.1%, well below the current level of -0.9%. Nonetheless, buyers appear to have a slightly better hand than sellers at the moment, as the market continues to absorb the recent increase in property for sale." Thu, 14 Oct 2010 09:52:53 GMT The August data from Land Registry's flagship House Price Index (HPI) shows an annual price increase of 6.7% which takes the average property value in England and Wales to £167,423. The monthly change from July to August is an increase of 0.3%. All regions in England and Wales experienced increases in their average property values over the last 12 months. The region with the highest annual price change is London with an increase of 11.4%. The region with the smallest annual price rise is the North East with a movement of 1.6%. The West Midlands experienced the greatest monthly rise with an increase of 1.2%. Yorkshire and The Humber experienced the most significant monthly price fall with a movement of -1.4%. The most up-to-date figures available show that during June 2010, the number of completed house sales in England and Wales rose by nine per cent to 59,390 from 54,710 in June 2009. The number of properties sold in England and Wales for over £1 million increased by 81% between June 2009 and June 2010, from 331 to 599. The HPI uses a sample size that is larger than all other statistical measures available and is calculated using Land Registry's dataset of all residential property sales completed in England and Wales since January 1995.Thu, 14 Oct 2010 09:52:17 GMT Windsor & Maidenhead is the wealthiest area outside London, with average property values of £409,939. By contrast, North Lincolnshire is the poorest area in England, having average house prices 44% below national average. The average property value in England now stands at £225,045, 8.7% below peak reached 3 years ago but up 11.2% from March 2009 lows. Windsor & Maidenhead is the area with the highest average property value in the country, outside of London, according to the latest figures from leading property website, Zoopla.co.uk. The average house price in Windsor & Maidenhead is now £409,939, a mere £3,411 below the average London house price, which is currently £413,350. In contrast, average property prices in North Lincolnshire currently stand at £124,921, the lowest in the nation and a staggering 70% less than in London and 45% below the national average, highlighting the growing North/South divide in house prices. The statistics released today by Zoopla.co.uk, which provides free value data on every property in the country, also show that all of the top 10 wealthiest housing markets are located in the South. South Gloucestershire (£384,102), Surrey (£357,863) and Hertfordshire (£317,687) round out the list of areas with the highest property values in England. Meanwhile, the North is home to all of the top 10 poorest housing markets in the country, with Hartlepool (£124,949), Durham (£133,257), South Yorkshire (£137,413) and Nottinghamshire (£137,949) not far behind North Lincolnshire. Nicholas Leeming, Commercial Director of Zoopla.co.uk comments: "In terms of both current house prices and market performance over the past 3 years, there is a clear north-south divide. The manufacturing base of the Midlands was severely hit by the recession and heavy job losses have taken their toll on the region's economy. As the economy strengthens the housing market will likely perform best in those areas least sensitive to the upcoming public sector cuts and the property divide looks set to get even wider."Thu, 14 Oct 2010 09:51:27 GMT Monmouthshire is the area with the highest average property value in Wales, according to the latest figures from leading property website, Zoopla.co.uk. The average house price in Monmouthshire is now £224,535, more than £72,000 higher than the average Welsh house price, which is currently £152,188. In contrast, average property prices in Blaenau Gwent currently stand at £79,898, the lowest in the country, 65% less than in Monmouthshire and 47% below the national average. The statistics released today by Zoopla.co.uk, which provides free value data on every property in Wales, reveal The Vale of Glamorgan in second place in terms of areas with the highest average house prices in Wales at £193,184, followed by Cardiff in third position at £183,923. Meanwhile, at the other end of the scale, rounding out the top three poorest housing markets in the country are Merthyr Tydfil where average property values stand at £99,685 and Rhondda Cynon Taff at £104,923. Nicholas Leeming, Commercial Director of Zoopla.co.uk comments: "In terms of both current house prices and market performance over the past 3 years, it is clear that some parts of Wales have performed much better than others and, as the economy strengthens, the housing market will likely perform best in those areas least sensitive to the upcoming public sector cuts." Thu, 14 Oct 2010 09:32:08 GMT Virtually everyone (96%) believes that the UK has housing problems, according to new research undertaken for the Council of Mortgage Lenders (CML) by YouGov, and outlined at CML's "Future Housing" conference today by CML chief economist Bob Pannell. The biggest problem is seen as the fact that young people cannot afford to buy, or take on too much debt to do so, cited by 80% of respondents. Too many people on housing waiting lists (48%), housing market boom and bust (44%), the cost of moving house (37%), and the lack of supply of new homes (35%) were also seen as problems - but each of these was cited by fewer than 50% of respondents, paling by comparison with the perceived plight of young would-be first-time buyers. Yet consumers appear sceptical about whether the government can make a difference. While 15% thought it likely or very likely that the government could improve first-time buyer affordability over the next five years, 80% thought it unlikely or very unlikely. Indeed, there was a high degree of scepticism about the likelihood of the government alleviating any of the problems identified. In every case, the proportion of people who felt help was unlikely exceeded the proportion who felt it was likely. However, the balance of opinion was less negative about the likelihood of government addressing energy efficiency (-2%), the size of new homes (-10%), and the prospect of some social tenants transitioning to the private sector (-14%). Commenting on the findings, CML chief economist Bob Pannell observed: "The survey found that, on balance, people expressed support for tighter lending criteria. But their high level of concern about would-be first-time buyers sits very uneasily with this. Overall, there is a strong case for saying: be careful what you wish for."Thu, 14 Oct 2010 09:30:46 GMT Gross mortgage lending declined to an estimated £11.4 billion in August, down 14% from £13.3 billion in July and 6% from £12.1 billion in August 2009, according to new data from the Council of Mortgage Lenders (CML). This is the lowest August total since 2000 (£11.1 billion). Lending volumes are likely to remain below last year's level in the coming months as activity was buoyed by the upcoming end of the stamp duty holiday in the last few months of 2009. In today's market commentary, CML chief economist Bob Pannell commented: "We face the prospect of a difficult second half of the year. However, the Bank of England is likely to keep interest rates at record lows for longer to support the economy. This will continue to alleviate payment pressures for many borrowers." CML's members are banks, building societies and other lenders who together undertake around 94% of all residential mortgage lending in the UK. There are 11.4 million mortgages in the UK, with loans worth over £1.2 trillion. CML does not publish statistics for mortgage approvals; the data relates to mortgage advances only. 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