Real Estate

Asking price for Heath Hall cut by £35m

Heath Hall, the most expensive home for sale in Britain, has become cheaper by a whopping £35 million, but it still costs £65 million.

Property tycoon Andreas Panayiotou, the owner of the 14-bedroom Heath Hall mansion, had put it on the market in the year 2011 with a guide price of £100 million.

But a lack of interest in the mansion forced Mr. Panayiotou to drop the asking price to a more realistic £65 million.

The price cut is enough to purchase a 6-bedroom Georgian terrace in up-market Belgravia or as many as 215 "average" homes in the country that cost £162,000 each.

Buying a house is cheaper than renting: BoS

Buying a house in Scotland is now cheaper than renting a property, according to a fresh report by economists at the Bank of Scotland (BoS).

The report says that falling prices of residential property in Scotland has made buying a home more affordable than renting. As per the economists' estimate, a person who buys a three-bedroom house in Scotland would be more than £400 per year better off than those who rent a similar property.

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Rightmove to check speed of listed homes

Rightmove, the British property website which is also the largest in the country, has entered into an agreement with BT to check out the potential Internet speed of the millions of homes. These are the ones that are listed on the website at one time.

The report first came out in the Telegraph, but the company has denied that it has entered into o any such agreement with the BT or any other telecos. But, Telegraph has claimed that a source told them that Rightmove is going to add potential ADSL speeds.

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Plummet in mortgage market continues

Yesterday, the British Bankers’ Association (BBA) has unveiled that the fall in mortgage lending in Britain was found constant during January.

In this month, the approval of the mortgage for house purchases was fixed at 28,932. There was a slight difference from December’s figure. In the month of December it was recorded 28,907. It has touched to its all time low since
last two years.

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China says home prices in most major cities rise

There has been an increase in the property prices in China although there was an intensified campaign led by the government.

The housing inflation has gone up in the month of January and on Friday official data has been revealed. As per the recent data, the property prices are on a high in most of the cities of the country.

The rise in inflation was seen in January after almost one year. It was marked by the National Bureau of Statistics that out of 70 major cities, 68 cities had been affected by this hike. Only 2 cities were unaffected by this rise. Even in

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