Property news: WW2 bunkers with no windows being sold off as homes

Officials had considered turning a line of bunkers in the city into a museum – but were put off by the estimated  €1 million (£897,000) cost. Instead they decided to sell the bunkers – which once formed part of the Soviet Union’s Molotov Line – as potential homes priced at €14,000 to €18,000 (£12,500-16,100). One advertisement reads: “We are selling a house, 38 square metres (409 square feet), one floor with a penthouse, two rooms.  “Year of building is 1940. There is a large private courtyard.”  The ad suggested that the building…

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Private landlords SELLING rental property after tax changes for buy to let investors

In their monthly report, RICS point to 22 per cent of their membership observing a drop-off in landlords advertising rental properties to let in their area, and highlight that reducing numbers of private rental stock is a direct result of taxation changes for buy to let investors, leading to smaller scale landlords exiting the sector.  Meanwhile, tenant demand continues to increase in most of the UK, leading to upwards pressure on rents.   In fact, RICS anticipate that this shortage could create a rise of two per cent on the…

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House prices UK: Values ARE going up as Halifax confirms property price growth in July

Halifax released their House Price Index, which suggests that prices saw an annualised rise of 3.3% (Image: GETTY) The Halifax released their House Price Index this morning, which suggests that prices saw an annualised rise of 3.3 per cent in July, and a 1.4 per cent increase on June to reach an average property value of £230,280, versus £219,266 at the same time last year. On a quarter-by-quarter basis, prices rose by 1.3 per cent. Coming off the back of an interest rate rise last week, this does provide a…

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House prices: Surprise increase in property price growth in July

The average UK home now valued at £217,010 having risen from £215,444 the previous month. (Image: GETTY ) The data indicates that house price growth rose to 2.5 per cent in July, up from two per cent in June, with the average UK home now valued at £217,010 having risen from £215,444 the previous month. This moderately positive news comes ahead of the expected rise tomorrow in the Bank of England Base Rate, potentially to 0.75 per cent, which would be the highest level since 2007. However, many experts suggest…

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Property news: Demand for ten-year fixed rate mortgage deals increases

Sixty per cent of homeowners weren’t aware of a ten-year fixed rate mortgage (Image: getty) The thing is, many consumers don’t actually know that a decade-long fixed rate product is available.  In a recent survey conducted by Mortgage Advice Bureau, 60 per cent of homeowners weren’t aware that they could take out such a product, even though they have been well established in the market for quite some time.  However, once they knew they were available, more than a third of those polled said that they would consider fixing their…

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Property: How to prevent your home getting burgled with £4.16 trick

Burglary risk is something property owners all need to be vigilant about, as break-ins are costly and inconvenient.  The most popular month for burglaries during summer is August, according to the experts at MoneySuperMarket. This is because of property owners leaving doors and windows open to cool the house down – but doing so could invalidate your home insurance policy. This is due to a clause called “contributory negligence” which means your home isn’t covered under insurance if you leave it insecure. “The summer months offer a unique window of…

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