West End landlords Shaftesbury and Capco eye £3.5bn merger May 7, 2022 Two major London property firms are in talks about a £3.5bn merger to create an extensive real estate empire in London's West End.
Price of average UK home skyrockets to £276.7k as cost of living crunch clouds home ownership dreams April 13, 2022 The average price tag of a home in the UK hit £276,755 in February, according to government figures. Rising house prices come as Brits have been forced to tighten household purse strings amid historic levels of inflation. The annual price change for a property in the UK was 10.9 per cent. The average price of [...]
Here’s how much you must put into your child’s JISA to get them on the housing ladder September 6, 2021 Parents and grandparents face putting away more than £3,000 per year typically to help children on to the property ladder in adulthood, and in London it’s more than double that. A child born in 2021 would need average annual deposits of £3,129 into their Junior Isa (Jisa) to afford the average UK first-time buyer deposit [...]
Bank of England drops mortgage market affordability test after less than a decade June 20, 2022 The Bank of England said this morning that its Financial Policy Committee will withdraw the so-called mortgage market affordability test. “Following its latest review of the mortgage market, the Financial Policy Committee has confirmed that it will withdraw its affordability test Recommendation,” the BoE said in a statement. This will come into effect from 1 [...]
Dire economy drags UK consumer confidence down to lowest level ever August 19, 2022 “Exasperation” with the plight of the UK economy has eroded consumer confidence to the lowest level ever, reveals a closely watched survey published today. Households are being downtrodden by a string of bleak economic news, uncertainty over how they will cope with sky-high energy bills during the winter months and sharp fall in spending power. [...]
London rents hit eyewatering average of £2,675 as homeownership falls further out of reach July 18, 2022 Rents in London have grown faster than anywhere else in the country for the second month running, with the average hitting £2,675. Londoners were found in February to already be dishing out more than 70 per cent of their monthly paycheck on their rent by city estate agent Benham and Reeves. Though the figure has [...]
Bec to the future: We blow the horn for fabulous Tooting Bec June 11, 2022 The London housing market tends to flow outwards from the prime central postcodes in a series of expanding circles, like the splash of a pebble thrown into a lake. Areas that would once have been undesirable ride the wave into fashion, while those in the centre see new ripples begin to form. So it is [...]
UK house prices surge above £350,000 as demand outstrips supply March 21, 2022 The average house price in Britain has surged above £350,000 for the first time ever as buyer demand outstrips the amount of homes on sale.
Saturday Sitdown: Mortgage guru Colin Bell on why Brits are ready for 50 year fixed rates February 26, 2022 Following the Bank of England’s recent interest rate rise and all the implications it has for the property and mortgage market, one firm is offering loans at a 30 year fixed rate, with plans to offer 40 and 50 year fixes in the near future. Sold as a massive lifestyle enabler and gives people much [...]
UK mortgage debt swells to £7bn as interest rates rise May 4, 2022 Mortgage debt swelled in March, according to Bank of England data, with net borrowing climbing from £4.6bn to £7bn in March as interest rates rise. House purchase mortgage approvals slipped to 70.7k in March from 71.0k in February, slightly ahead of consensus but moving towards their 2015 to 2019 average of 66.5k – which analysts [...]