18 September: July Marks Fifth Month Of Consecutive Rises House prices rise 2.2% in the year to July Fifth consecutive month of annual increases Average home now worth £290,000 Annual house price inflation is running at 2.2% in the year to July, according to the latest data released by the Office for National Statistics (ONS), writes […]
Figures from Rightmove show inquiries to estate agents since 1 August up 19% compared with a year ago The first Bank of England rate cut in four years has triggered an immediate upturn in the UK property market, as cheaper mortgages prompt interest among buyers and drive up house prices. Figures from the property website Rightmove show the number […]
15 July: Market Holds Breath As Bank Rate Decision Looms July asking prices dip 0.4% Prices up 0.4% annually Sales agreed up 15% year-on-year Average price £373,493 The average asking price of property coming onto the market fell by 0.4% in July, (£1,617 in cash terms), according to online property site Rightmove, down on the […]
Mortgage rates are steadily ticking higher. Will rising mortgage rates stall the housing recovery? Photographer: Chris Ratcliffe/Bloomberg Welcome to Money Distilled. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money. Don’t miss the new episode of In the City, in which […]
British properties are ‘expensive, cramped and ageing’ compared with other similar economies, says Resolution Foundation Mon 25 Mar 2024 01.01 CET The UK’s “expensive, cramped and ageing” housing stock fares poorly compared with other advanced countries, analysis by a thinktank suggests. Households are paying more than other countries – but getting less in return, the Resolution Foundation said. […]
The total value of all homes across the UK has dipped for the first time since 2012. According to figures by Savills, the total value of UK homes now stands at £8.678 trillion. The analysis of the UK’s housing stock reveals that the total value has fallen marginally on 2022 – when values peaked – but remains […]
Upmarket estate agent says prices will start to bottom out in 2024 as interest rates fall and will return to growth in 2025 Julia Kollewe Britain’s housing market is past “peak pain” and prices look likely to bottom out by next summer, according to the estate agency Savills. The average UK house price is projected to […]
By John Stepek We’re going to be getting plenty of house price data in the next few days — we get Nationwide house prices for June on Friday, and data on mortgage approvals tomorrow — so I’ll be coming back to this topic later in the week. But today I wanted to highlight a couple of interesting data […]
Inflation and the BOE are increasing strains on the market The UK housing market is facing new hurdles after being rocked by the worst cost-of-living crisis in a generation, economic uncertainty and soaring borrowing costs. The pressure is building fast amid a fresh jump in mortgage rates and a rush by lenders to pull products as bond yields rise to levels last seen […]
Building society warns of ‘strengthening headwinds’ with high interest rates continuing for longer UK house prices fell at the fastest annual rate in nearly 14 years in May, as Nationwide building society warned that “headwinds” for the housing market were likely to increase in the coming months as high inflation fuels expectations of further interest rate […]
