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Realistic rental valuations can help to avoid bidding wars

Whilst dramatic rental increases and tenant demand in London are said to be increasing the pressure on the private rental sector, and with further rent rises predicted by Christmas, Belvoir Lettings insists that realistic valuations and specialist knowledge of local markets can help to prevent bidding wars and fulfill landlord expectations.

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Chink of light after monthly transactions fall 10,000 in a year

The BBA said there were 33,417 mortgage approvals for house purchase in July, compared with 32,123 in June, and ahead of the monthly average of 30,695 for the six months to July 2011. The average size of the loan made in July was £151,500.

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Rents rise for sixth consecutive month

Rents rose for the sixth consecutive month in July, increasing by 0.6% to £705 per calender month and marking a new record high.

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CML forecasts sales volume decline

Sales volumes could decline further during the remainder of the year, according to the Council of Mortgage Lenders’ chief economist.

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More sellers having to turn to price cuts

Two in five properties on the market have had their price lowered at least once, with the average reduction being 7.1%.

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