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UK property market at its weakest for six years, says Rics

Surveyors body expects prices to fall in the south and south-east over next three month.  Houses for sale in Norwich. Rics forecasts property prices in East Anglia will remain flat over the next 12 months. Photograph: Jason Bye/Alamy The UK property market is at its weakest for six years, with prices flat or falling across half the […]

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Prime London housing market hit by Brexit

The number of high-end London homes being placed on the market has dropped by a quarter as wealthy owners hold off selling ahead of the UK’s departure from the EU. In upmarket areas of the capital, the number of homes being placed on the market for £2m or more was down 25 per cent in […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]