View more on these topics

Suburban property cheaper than the land it stands on, reveals Savills

The value of homes in some low density suburban areas is lower than the plots they stand on, research by FPDSavills reveals.

The company says that in areas with low density housing types, such as 1930&#39s bungalows or post-war semis, homeowners are being offered considerable sums by developers to buy the property for them to then demolish and then build high density housing on the land.

Homeowners themselves are also taking advantage of land values and plot sizes in order to build larger homes on the same plot, at a fraction of what it would cost to buy a property of the same size in the vicinity.

Simon Jones, director, says: &#39&#39An increasing number of clients add value to housing plots by adding additional living space or indeed demolishing their existing property in order to build a larger one.

“A number of lenders now offer mortgage products specifically designed for those clients looking to build a new home.&#39&#39


Did we really need the bunny girls, boys?

Last week&#39s Mortgage Business Expo was universally acclaimed a success. The atmosphere was vibrant with the happy buzz of several thousand people catching up with old acquaintances over a glass or two of free, if slightly warm, white wine. And round every corner was a group of scantily clad girls advertising a lender, a packager […]

Confidence in housing market reaches peak of 60%

Confidence in the housing market has increased to 60% in October &#45 the highest level in 2003, a report by The Woolwich reveals The Woolwich&#39s consumer confidence balance has been rallying since March when it reached this year&#39s low point of 50%. This upward trend has seen confidence reach its current level of 60%, reflected […]

Sales growth suggests a gradual return of consumer confidence

New business figures from the ABI show that, for the first time in two years, the amount invested in regular premium life and pensions policies is on an upward trend. In the first nine months of 2003 the value of new premiums increased by 3% from £836m in January to £863m in October. This compares […]

House price warnings falling on deaf ears, claim Lib Dems

The Liberal Democrats claim that with net lending at record levels, Bank of England warnings that house prices are over valued are being ignored. Vince Cable, shadow chancellor, says that with the value of mortgage loans up by almost a quarter, bank lending was fuelling an unstustainable bubble in the housing market. He says: “If […]

A modern horror story

Every day a quick scan of the news reveals some new horror that will change the lives of those involved forever – the unlucky accident on the way to work, a tragic illness that cuts a young life short or the holiday accident that leaves more than just a scar to cope with. We barely […]


News and expert analysis straight to your inbox

Sign up