House prices are heading higher again, despite expectations that the Brexit vote would curb rises. Home typically bought by first-time buyers saw the sharpest growth, with Rightmove warning that increasing numbers are being cut off from home ownership altogether. Meanwhile, housebuilders are concerned that Brexit could mean a shortage of workers and therefore fewer houses being built. In an interesting twist, however, it seems that the number of new homes being built could have been underestimated – by as many as 80,000 since 2010.
This morning’s property headlines from the national press
Homes for first-time buyers head price gains (The Guardian/FREE)
The average asking price for a home in England and Wales rose 0.7% on the month and 4% on the year in September, to £306,499, the latest report by Rightmove showed.
Curbs on EU workers could hit homebuilding targets (The Times/£)
Curbs on workers from the European Union could hit homebuilders’ ability to meet housing targets, builders warn.
Housebuilding data underestimating number of new homes (FT/£)
Official housebuilding data could have underestimated the number of homes being built by as many as 80,000 since 2010, according to analysis of government figures.
New Aldi stores add £5,000 to home values – The Daily Telegraph, p. 4
News of a new Aldi store opening in the neighbourhood can add £5,000 to the value of homes there, according to a study by My Home Move, a conveyancing company.
Aberdeen UTG regeneration plans need more funding (The Times/£)
Plans for the regeneration of Aberdeen’s Union Terrace Gardens are unlikely to be achievable within the stated budget.
Retail footfall edges 0.1% higher (The Times/£)
Retail footfall edged 0.1% higher in August, with a 1.1% increase in high-street footfall offset by a 1.9% fall in the number of visitors to shopping centres, data from Springboard showed.
Abandoning HS2 would cost 27,000 jobs (The Times/£)
A decision not to go ahead with the HS2 high-speed rail link between London and Birmingham would cost around 27,000 jobs, according to a report due to be released today.
Business confidence at four-year low (The Independent/FREE)
Business confidence has hit a four-year low amid concerns about economic uncertainty and UK demand following June’s Brexit vote, the Lloyds Bank Business in Britain report shows.
