House building craters to weakest level in 14 years amid Bank of England interest rate rises July 6, 2023 The Bank of England’s series of aggressive interest rate hikes to pull back raging inflation is wreaking havoc on house building, dealing a blow to first time buyers hoping to get on the property ladder any time soon, a closely watched survey out today shows. According to S&P Global and the Chartered Institute of Procurement [...]
Bank of England to raise interest rates for 13th time in a row this week to tame persistent inflation June 19, 2023 The Bank of England is nailed on to raise interest rates for the thirteenth meeting in a row this Thursday, but markets think there’s an outside chance Governor Andrew Bailey and co will revert to an outsized rise to tame what is emerging as the worst inflation problem in the rich world. Markets reckon the [...]
Mortgages: Number of people securing a home shot up weeks before BoE hiked rates June 29, 2023 Mortgage approvals continued to show signs of improvement in May, rising to 55,500 for the month as a whole up across the UK – up from 49,000 for the month of April, new data shows. The data provided by the Bank of England (Boe) is a fresh kick in the teeth for prospective buyers, who [...]
Barratt sinks and Redrow jumps after £2.5bn megamerger announced February 7, 2024 Two of Britain's leading homebuilders, Barratt and Redrow, have announced a merger agreement worth £2.5bn.
Higher interest rates lift Santander UK profit to £1.2bn, warns mortgage market is cooling July 26, 2023 Santander UK saw its profit rise significantly in the first half of the year, but the bank also noted that applications for mortgages had been hit by recent economic volatility. In the first half of the year pre-tax profit climbed 18 per cent to £1.2bn from £993m last year. This came thanks to a 10 [...]
The Notebook: Female pensioners are keen investors – and they’re outperforming men June 25, 2024 Victoria Scholar takes the notebook pen to talk rising mortgages, how pensioners spend their money, and a new £11m London property.
London and south east house prices fall fastest with analysts predicting five per cent crash August 7, 2023 House prices dropped by 0.3 per cent from June to July, the latest data suggests, with London and south east homes falling fastest in value. House prices fell by -2.4 per cent on an annual basis , easing from -2.6 per cent in June, the latest figures from Halifax show. The 0.3 per cent fall [...]
Property: Has spring sprung? Mini budget ripple blamed for keeping a lid on monthly sales April 28, 2023 UK residential transactions in March 2023 totalled 89,560 which was 19 per cent lower than the same month a year ago but 1 per cent higher than February 2023, according to HMRC. The seasonally adjusted figures also show the total of non-residential property purchases, including commercial and factory property was 10,640, three per cent higher than [...]
House prices drop for first time this year as Bank of England interest rate hikes take hold June 19, 2023 House prices have dropped for the first time this year, sparked by the property market being whacked by the Bank of England’s 12 successive interest rate hikes to quash inflation, new figures out today show. The average price of a home coming to market fell £82 over the last month to £372,812, the first drop [...]
London’s wealthy put homes up for renting as mortgage rate rises bite June 28, 2023 London’s wealthy are placing their homes up for rent as they struggle to reach their ideal asking price on pads across upmarket boroughs such as Chelsea and Mayfair. Following the Bank of England’s decision to hike interest rates by 0.5 per cent, figures from estate agent Knight Frank show affluent sellers in some of London’s [...]