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House price increases outside London are likely to outperform those in the capital for the first time in six years, said a study on Monday.

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One of Derbyshire's best-known landmarks is being converted into luxury apartments in a £7 million deal.

Victoria Mill, once the largest manufacturing lace mill in Europe, dominates the Draycott skyline but is largely derelict, making it a target for arsonists and vandals.

London-based Roseberry Homes bought the four-storey, grade two-listed property in 2003 and was granted permission to convert the building into apartments.

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New findings from HomeLet show that rents across the UK are 10.2 per cent higher than a year ago. 

The average rent on a tenancy signed during the first quarter of 2015 was £902 compared to £819 for tenancies signed during the first quarter of 2014. Rents are higher in every region of the UK except Wales compared to a year ago.

 

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NEWSLETTER

callowhillway

Mortgage approvals hit six-month high, as house prices are set to rally!
 
Falling mortgage rates, cuts in stamp duty for most movers and stronger pay growth could drive house prices 5pc higher this year, according to analysts...
 
 

brookchase

We let this property on the first viewing!

 

NEWPROPERTIES2

Have a look through our lettings page for our fantastic new properties available to let in Derby, Nottingham and Birmingham!

Fixed rate mortgages hit a new record low today as competition among lenders intensified.

HSBC launched a two-year fixed rate deal at just 1.19 per cent, the lowest rate financial information group Moneyfacts has ever recorded.

 

Other lenders have also slashed their prices in recent weeks, with five lenders now offering two-year deals for less than 1.4 per cent.

The competition in the market has seen the average cost of a two-year fixed rate deal continue to fall, dropping to 3.27 per cent, down from 3.32 per cent at the start of the year.

Five-year fixed rate loans have also got cheaper, dropping to an average of 3.37 per cent, compared with 3.8 per cent at the beginning of January.

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Homeowners expect to see house prices increase 7 per cent in the first half of 2015, according to the latest report by Zoopla.

Zoopla's Housing Market Sentiment Survey suggested 88 per cent of homeowners anticipate property prices to rise in the next six months, with Londoners expecting to see the greatest gains.

The number of homeowners expecting an increase is down from 92 per cent last year, but is consistent with market confidence stabilising.


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