Average UK house costs £271,613 as price growth shows ‘tenative signs of slowdown’ June 30, 2022 The pace of UK house price growth slowed modestly last month, with the price tag of a standard home hitting a new record high of £271,613. According to the Nationwide House Price Index published on Thursday, average prices increased by over £26,000 in the past year. The rate of annual growth slowed to 10.7 per [...]
Week ahead: City eyes housing stats and BoE governor Bailey remarks June 26, 2022 The UK’s red hot housing market is set to revert to more normal territory driven by the cost of living crunch chilling demand for homes, fresh data released this week that will be closely watched by the City. London’s premier FTSE 100 index has rebounded after suffering bruising losses of late caused by investors around [...]
UK mortgage arrears hit highest level in more than 12 years as debts to banks creep past record £2bn June 15, 2022 The value of mortgage arrears in the UK has reached its highest level since 2010, with £2.05bn of mortgage debt delinquent at the end of the first quarter of 2022, according to new data shared with City A.M. this morning. As interest rate rises and the cost-of-living crisis hit household finances, more families are now [...]
UK house price skyrockets to record £289k: ‘Any mutterings of a market crash are greatly exaggerated’ June 8, 2022 The average UK house price hit a record high of £289,099 in May, but the pace of growth in values is slowing, according to an index this morning. Russell Galley, managing director of Halifax, said: “The average cost of buying a home in the UK is up 1 per cent, or £2,857, on last month, [...]
UK cost of living crisis to tame runaway house prices, says Savills May 31, 2022 The UK’s cost of living crisis is expected to stunt house price growth for the rest of the year, according to estate agents Savills, taming property costs which continue to hit record levels. Affordability pressures will leave house prices no choice but to slow in their ascent, as property deals and mortgage approvals fall in [...]
Mortgage approvals fall following interest rate rises May 31, 2022 Mortgage approvals have fallen to the lowest level seen since the peak of the UK’s house-buying frenzy in June 2020, according to official data today. Brits were approved 66,000 mortgages in April, down from 69,500 in March, data from the Bank of England has revealed. This is slightly below the pre-pandemic average of 66,700, [...]
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 [...]
Competition watchdog raises concerns over London Stock Exchange Group’s Quantile takeover May 3, 2022 The UK’s competition watchdog has raised concerns today that the London Stock Exchange Group’s takeover of transaction risk firm Quantile could damage competition in the sector.
House price growth slows but remains in double digits April 29, 2022 Growth in house prices has slowed this month, but remains in double digits, according to the Nationwide House Price Index.
City A.M. Awards 2022: Innovative Company of the Year March 22, 2022 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]