New property price indexes have revealed that the average cost of a home in the South East is now £255,325.
The figures from the Nationwide show a rise of 8% for the region in the first quarter of 2016 compared with the first quarter of 2015.
This compared with the average price of a home nationwide at £200,251 – the first time on the Nationwide measure that the price has risen above £200,000.
In the mainstream media, headlines shouted about house prices in the Northern now being less than half those in the south of the country.
Congratulations to our Consultant Ken Veness on being awarded Honorary Life Membership by the Portsmouth Property Association (PPA).
Former PPA Chairman Ken received the accolade in recognition of his long service and dedication to the property sector and the PPA.
Ken, who has more than 40 years of experience, said: “It’s a tremendous honour to be recognised by my peers in this way and my sincere thanks go to all at the PPA.
“Although the industry has changed in many ways over the years, the PPA’s commitment to excellence among its membership has remained the same.
New rules for the property market are being proposed by the Bank of England.
Its Prudential Regulation Authority (PRA) has called for stricter limits on the amount that buy-to-let landlords can borrow.
The Bank wants lenders to take a wider look at a borrower’s financial situation rather than just the rental income from a property.
These include all the costs a landlord might have to pay when renting out a property, tax liabilities, a landlord's personal tax liabilities, essential expenditure and living costs.
Our experienced director Ian Lee has shared his expertise with readers of the Portsmouth News.
Ian featured in the Expert View column in the paper's Property section, giving an insight into the impact of Stamp Duty Land Tax surcharges coming into force on April 1.
The Chancellor George Osborne confirmed that the new 'landlord tax' will definitely take effect next month. Ian's advice to buyers trying to push a purchase through before the deadline is not to take any shortcuts and make sure you get a survey - it could come back to haunt you otherwise.
It’s been another busy week at McAndrew Martin with the start of March putting a spring into everyone’s step.
We’ve continued where we left off in January and February with business increasing compared to the same time in 2015.
We’re looking forward to another good month ahead with demand for our expert surveys and wide range of property related services continuing to grow.
Portsmouth has been hailed as one of the country’s new boomtowns, according to a survey just released.
It has been named as one of the 11 town and cities set for sizeable property price growth in 2016, according to an exclusive ‘Next Wave’ survey by data consultancy firm Hometrack for the Sunday Times.
Its study, based on long term economic indicators, and takes into account such factors as good transport links, a larger than average private rental sector, a substantial student population and a strengthening private sector creating more jobs.
We’ve had a flying start to 2016 with one of our busiest Januaries so far.
It comes hot on the heels of our record December as we look forward to another great year.
Demand has continued for our range of services, including surveys, structural and mechanical engineering, architectural design and party walls work.
We’ve also just passed the second anniversary of our merger with Brunel Design Associates.
This has proved a great success, as has the merger with Veness Chartered Surveyors in September 2014.
We're looking forward to getting back to the office on Monday to carry on where we left off in 2016. The Portsmouth News has already carried a story about our record December, and our expectations for the year ahead.
We're expecting so see a continued rise in demand for our services as we start the year amid fierce competition for homes in the property market - partly due to demand for homes outstripping supply and interest rates remaining at their historic, six-year low of 0.5%.
We've presented the final proceeds from our record charity golf day to our longstanding beneficiary Help for Heroes.
Our director Ian Lee and Dan Smith, director of ADN Financial Solutions, handed over the £2,569 proceeds to Hampshire volunteers James and Anita Meldrum.
The funds were raised at our most successful charity golf day so far, which was held in April at the Waterlooville Golf Club in association with ADN.
Help for Heroes has been one of our main charity beneficiaries for some time now.
What are you up to this weekend?
Making the most of the time before winter arrives, getting ready to return to work or school, househunting, going to the football?
There’s still plenty to do out and about in the area. The What’s On section in the Portsmouth News is always a good place to start. Visit http://www.portsmouth.co.uk/what-s-on for the full rundown of events and activities happening over the next few days.