First-time buyers are struggling to find a house as the gap between the supply and demand for two-bedroom properties widens, a new report found. The price of a typical first-time buyer home is leaping by £1,250 every single month, putting home ownership out of reach for many. The demand for smaller homes is further compounded […]
House buyers borrowed more money in June than in any month since the financial crisis, as the pre-election lull in the market was swept aside by buyers surging back to the market. Home purchase loans came to a total of £20.5bn in June, according to the Council of Mortgage Lenders – the highest level seen […]
The UK housing market appears to be “waking up” after a quiet period in spring, the Council of Mortgage Lenders (CML) has said. It said homeowners took out 49,000 loans in May, the highest number since December last year. That compares with 48,300 loans taken out in April. Separate figures from the Office for National […]
Over 500,000 homes now cost £1m or more and in 13 streets of London average house price is in excess of £10m The number of property millionaires in Britain has more than doubled over the past three years and broken through the 500,000 mark for the first time, it is claimed. There are now 13 […]
UK rental costs are the highest in Europe but homeowners are benefiting from cheap mortgages, data suggests. Tenants typically spend 39.1% of their income on rent compared with a European average of 28%, figures from the National Housing Federation suggest. The federation, which represents housing associations, also said that renters were less secure in their […]
Mortgage approvals continued their inexorable rise last month, figures published this morning showed, suggesting growth in UK house prices is unlikely to abate anytime soon. The figures, from the British Bankers’ Association, showed mortgage approvals for house purchases rose to 42,530 last month, up from 42,020 in April – and way up on a 20-month […]
House sellers are refusing to slash their prices as they know that demand for properties is exceeding supply, research shows. New figures show it is once again a seller’s market, with discounts on properties slumping to a five-year low. The price of the average house advertised online last month had only been reduced by 6.05 […]
An estimated £16.2billion-worth of mortgages was handed out in May, marking a five-month high, figures from the Council of Mortgage Lenders (CML) showed. Writing on the CML’s website, CML economist Mohammad Jamei said: “As we expected, activity in the housing market is showing signs of a modest recovery.” He added that the low mortgage rates […]
Mortgage experts are predicting a “gentle recovery” in activity in the UK housing market as new figures show lending rose slightly. Gross mortgage lending rose by 2% in May compared with April to £16.2bn, according to the Council of Mortgage Lenders (CML). This, and economic indicators, signalled a “limited” increase in activity in the coming […]
Most second steppers in the UK housing market are no longer trapped in negative equity as their position is boosted by rising house prices and an influx of first time buyers, new research has found. This is despite the fact that many face a £128,000 price gap to jump up the housing latter, according to […]
