Not a good Monday for home sellers as UK house prices dive by £4k+ in just one month November 14, 2022 The average price tag on a home fell by more than £4,000 in November compared with the previous month, according to new industry figures released this morning. Across Britain, the average price of a newly marketed home in November is £366,999, Rightmove said. The £4,159 drop in the average asking price compared with October equates [...]
Home buyers warned cut in stamp duty will lead to big jump in monthly mortgage bills September 21, 2022 Home buyers could end up paying much bigger monthly mortgage bills if the government goes ahead and scraps or cuts stamp duties. Ahead of Chancellor Kwasi Kwarteng’s mini-budget on Friday, The Times reported that radical plans to cut stamp duty are in the pipeline as part of efforts to boost economic growth. Downing Street refused [...]
Why you should never, ever bet against UK house prices May 9, 2023 Remember the start of the year? “UK house prices have gone into sharp reverse over recent months. And we expect that elevated mortgage rates will result in at least a 12 per cent price correction,” so said Capital Economics at the time. This is from building society Nationwide last week: “While annual house price growth [...]
London house price growth remains below UK city average September 27, 2019 House prices in London edged up 0.2 per cent in August but inflation remained below the UK average growth rate for cities of 1.9 per cent. However, mortgages for home purchases in London have been increasing slowly following the lower numbers seen since late 2014, suggesting that the decline in London housing sales has bottomed [...]
Hounslow is a hit among Singaporeans who act as £5.8bn supporting cast to Hong Kong homebuyer frenzy in UK November 1, 2022 While the bonus of the so-called BNO visa scheme has resulted in a high level of Hong Kong homebuyers making their way to the UK, it has emerged that a supporting cast from Singapore is also helping to drive market activity in Britain, with Singapore nationals sitting on a property portfolio to the tune of [...]
How to get a foot on the property ladder in London – and you don’t need to skip avocado on toast if you don’t want to January 21, 2023 Buying your first home is a dwindling dream for many young Londoners; a dream not helped by commentators who blame millenial’s spending habits for their inability to put together a deposit o five per cent or more of the property’s value. A Netflix subscription or an ‘overconsumption’ of avocado on toast, or even the odd [...]
House buying falls ‘dramatically’ as market feels absence of stamp duty holiday May 24, 2022 UK property transactions are “dramatically lower” than a year ago, as the market feels the absence of the pandemic-era stamp duty holiday. Residential deals in April plunged nearly 14 per cent in comparison with 12-months ago, and are 10.5 per cent lower than in March, according to the government’s latest data. Meanwhile, non-residential transactions, which [...]
London exodus: Record numbers escape the capital as pandemic trend continues August 1, 2022 There has been an exodus of Londoners since the pandemic, with more than 40,000 escaping eye-watering rent in the capital to buy their first home. The pandemic trend of leaving London has continued, with a record 28 per cent of new homes outside the M25 being first-time buyers. In the first half of 2022, 40,540 [...]
Mortgage costs expected to grow by another £2,500 as inflation spirals July 1, 2022 The cost of a mortgage is expected to grow by another £2,500 by the end of this year, in comparison with December 2021, according to property site Zoopla today. Economists anticipate “sharp” hikes to mortgage rates in the coming months, as the Bank of England seeks to tame spiralling inflation, which is already at 9.1 [...]
Value of Westminster and Chelsea homes equals value of Welsh homes October 14, 2021 The value of UK property has hit £9.2tn, four times the country’s GDP. This sum – which is more than four times the value of all companies listed in the FTSE 100 – has risen £1.6tn over the past five years. More than a third of that growth has been in the past year alone, [...]