Read more

Property speculators head north as London market slumps

UK property speculators who buy and sell homes in quick succession have shifted their focus north as the housing market in London and the south-east begins to slump. Some 11 of the top 15 destinations for “flipping” homes — buying and selling within 12 months — were in the north of England last year. None […]

Read more

Bank of England raises UK interest rates

Image copyrightREUTERS The Bank of England has raised the interest rate for only the second time in a decade. The rate has risen by a quarter of a percentage point, from 0.5% to 0.75% – the highest level since March 2009. While the decision means that the 3.5 million people with variable or tracker mortgages […]

Read more

Property sales in London fall 20% in four years

Analysis shows capital ‘unaffordable’ for all but most ‘equity-rich’ home buyers The number of homes changing hands in London has dropped by one-fifth in four years, while homebuying activity in the Midlands and the north of England has picked up the pace, underlining problems of affordability in the capital and changing patterns of regional housing […]

Read more

Four in 10 home sellers in London cut asking prices as UK property market slumps further

The proportion of London home sellers dropping their asking price is rising as the property market slumps further. With more than four in 10 revising lower, the average price cut of 6.7 per cent reflects “initial over-optimism and a tougher market,” Rightmove said in a report published Monday. New vendors coming to the market in November are […]

Read more

The darkening shadows over the UK commercial property market

Big commercial property groups seem to be getting cagey about prospects for the UK property market. Some of that’s overblown worry due to Brexit. But there are also some more substantive concerns that are definitely worth paying attention to. Meanwhile, even as the professionals get jittery, local councils are piling into the property market like […]

Read more

Softening housing market slows London office conversions

Developers are pulling back from converting central London offices into homes as the housing market in the capital slows.   Conversions of central London offices into homes under contentious “permitted development rights” have slumped in the past year, while withdrawals of such applications have increased sharply, according to figures from Colliers International, a property agency. […]

Read more

UK: Is property facing a meltdown in 2017?

THE HOUSING market is finally slowing after years of rampant growth and many Britons will give hearty thanks for that. GETTY The housing market is slowing after years after rapid growth The assumption that homeowners automatically celebrate price rises has been blown apart by the crazy growth of recent years, which has made the majority […]