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1. Introduction As announced in the September 2015 classifications Forward Work Plan, the ONS has undertaken a review of the statistical classification of "Private registered providers" of social housing in England (PRPs).  The review was undertaken to establish whether PRPs should continue to be recorded as Private Non Financial Corporations (S.11) in ONS economic statistics or if the recording should change following legislative and regulatory changes brought about through the Housing and Regeneration Act 2008 (HRA 2008). Additionally, the review ensures that the statistical treatment is consistent with the latest international guidance in the 2010 European System of Accounts (ESA 2010), which entered force in September 2014. Please note that this assessment was taken solely on the basis of current legislation, namely the HRA 2008.  It should be noted that “private registered providers” is the official term for these bodies, where the "registered" in th...

The London housing market has formed the world's biggest house price bubble, according to the Swiss bank, UBS. It said the ratios of property prices to incomes, and property prices to rents, have reached all-time highs. And it warned that London house prices have become more "decoupled" from household earnings than anywhere else in the world. More than any other big city in the world, the capital now faces the risk of a "substantial" price correction. In its Global Real Estate Bubble Index , UBS says any city scoring more than 1.5 is at risk of a bubble. London had the highest score, at 1.88. Hong Kong came second , with a score of 1.67.   download > pdf report 'Drastic' Real house prices, after adjusting for inflation, have soared by almost 40% in London since the beginning of 2013, said UBS. That makes London one of the most expensive cities in the world. Amongst other findings in the report: London house prices are, in real term...

British mortgage approvals declined in September for the first time in four months, but mortgage lending and consumer credit grew at the fastest rate in years, Bank of England data showed on Thursday. The effective rate paid on households’ outstanding time deposits increased by 9bps to 1.59% in September and the rate for households’ new time deposits decreased by 2bps to 1.51% . The effective rate on the stock of outstanding secured loans (mortgages) decreased by 2bps to 3.04% in September and the new secured loan rate was unchanged at 2.57% .  The rate on outstanding unsecured personal loans decreased by 5bps to 6.84% in  September and the new unsecured personal loan rate increased by 1bp to 6.98% .   The credit card rate (all balances) increased to 10.53% , a 12bps increase on the month (see Table A for households’ effective rates). The effective rate paid on private non-financial corporations’ (PNFCs) outstanding time deposits increased by 2bps to 0....

New home registration statistics for the UK f ell marginally by 2% during Q3 when compared to the same period last year, according to new figures released today by NHBC. However, the overall year-to-date figures up to and including September show that the number of new homes registered with NHBC is 9% higher than this time last year (117,525; 108,118 in 2014). In total 36,219 new homes were registered in Q3 compared to 36,955 a year ago.  The private sector is static at -1% (28,527; 28,906 in 2014), with the public sector down by 4% (7,692; 8,049 in 2014). Experts in the housing industry have attributed the drop in public sector registrations to many housing associations holding back on developments in light of welfare reforms and the cap on rental increases. The new statistics also show that London reported a 25% rise in the number of new homes registered during Q3 (7,289; 5,812 in Q3 2014). On a national level Northern Ireland (+39%), Scotland (+8%) and Wales (+4%) all e...

Part of  Richard Hill  [pictured ] role as a Land Registry Guarantee & Litigation lawyer, is to look at rectification and indemnity in respect of property fraud cases. This means that I see first-hand the dreadful impact that property fraud can have on the victim. Since 2009 Land Registry has prevented frauds on properties valued in excess of £80 million. However, no system can be 100 per cent fraud-proof. That’s why I think it’s important to work together with our professional customers to widen the reach of our property fraud advice. As our business customers, many of you have more direct contact with members of the public than we do and could help your clients by highlighting the range of advice we offer on how to reduce the risk of becoming a victim of property fraud. Website An easy way would be to link to the information on our website. For instance, we explain that by putting a restriction on their title, your clients can ensure we won’t register a ...

Online estate agent eMoov now offers live video streaming of property viewings to make virtually visiting properties a real option for potential buyers. So house sellers can use the camera to show people around their house, live, or pre-recorded. Russel Quirk emoov CEO  " this technology  can save alot of viewing appointments /time for home buyers / house sellers ,the app has also increased productivity and efficiency for our business . Live stream property viewings: eMoov & EE EE already has a camera launched in its 4GEE Action Cam, but now it wants to take it one step further . The 4GEE Capture Cam is the new device that's aiming to help people and businesses keep an eye on what they need, live, from anywhere and for less. The 4GEE Capture Cam is able to live stream 720p video over a data connection or directly via its 4G SIM. So it's a bit like Twitch but for real life. It can record in 1080p also. The camera is lightweight as w...