Real Estate

OECD urges govt. to take steps to prevent property bubble

Concerned over soaring house prices across the UK, the Organisation for Economic Co-operation & Development (OECD) has urged the government to scale back its controversial "Help to Buy" scheme that allows people to buy a property with just a 5 per cent deposit.

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Parents risk their financial future to help children buy home: Halifax

British parents who helped their adult children in getting on the property ladder are now concerned about their own financial future, according to a fresh report from mortgage lender Halifax.

The report said nearly four in every ten parents who helped their children to buy a house are now concerned about their own finances in their old age, including pension cash.

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Weak supply set to push house prices higher

Strong demand and week supply of houses will likely continue to push property prices up in the UK, Bank of England (BoE) Deputy Governor Sir Jon Cunliffe said.

Delivering a speech in London on Thursday, Sir Cunliffe, the financial stability chief at BoE, also said that ongoing improvement in the British economy would also help push property prices up.

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Grosvenor reduces exposure to London’s super-prime residential market

Grosvenor Estates, the Duke of Westminster's property group, on Tuesday confirmed that it had reduced its exposure to London's super-prime residential market due to fears about the capital city's overheating market.

Taking advantage of higher prices of property in London, Grosvenor sold nearly £240 million worth of residential properties in areas like Mayfair and Belgravia.

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U.K. house prices rise for 15th month in a row

The U. K. housing market recorded the fifteenth monthly increase in prices in April this year, as property market recovery spread further beyond the capital city of London.

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