Rightmove: 74,000 house buyers to narrowly miss stamp duty deadline Property Rightmove’s stamp duty report has identified an estimated 74,000 moves, which includes 25,000 first-time buyers, that will just miss the March 31 deadline and complete in April. They form the unlucky section of a “massive log-jam” of 575,000 movers hoping to complete ahead of the tax change, Rightmove said. Collectively, the buyers are set to [...]
UK mortgage brokers expect interest rates to jump According to a new study, over two-thirds of UK mortgage brokers expect interest rates to stop falling and resume their upward trend by the beginning of next year. Butterfield Mortgages surveyed 300 brokers and 69 per cent said they believed the Bank of England base rate would be higher than the current level of 4.5 per cent [...]
Brits spent 31,000 years on Rightmove in 2024 Property Property-obsessed Brits spent 16.4bn minutes searching on Rightmove last year, which the platform has used to underpin a financial performance in a “class of its own”. Rightmove swallowed up 80 per cent of all consumer time spent on UK property portals in 2024, with almost 9,400 property views every minute. The UK’s enduring fascination with [...]
Rightmove hikes dividends amid confident outlook February 28, 2025 Rightmove has hiked dividends after issuing a confident outlook for 2025 despite wider uncertainties in the UK housing market. The property portal unveiled a 6.1p per share dividend in its full-year results on Friday, up five per cent and taking the total payout to 9.8p. Underlying operating profit increased four per cent to £273.9m in [...]
Value of UK housing stock hits £9 trillion for the first time February 17, 2025 The total value of all homes across the UK has passed £9 trillion for the first time, according to new research by property firm Savills. After a brief slump in 2023, the UK’s housing stock grew by £346bn last year – meaning it is now more than 3.5 times the annual GDP of the UK. [...]
How many days a week is the FTSE 100 spending in the office? January 29, 2025 In an exclusive poll for City AM, Joanna Hodgson surveys major firms to see if hybrid working is still king in the UK A three-day office week is dominant among some of Britain’s biggest companies, with employers spanning insurance, financial services and property continuing to embrace flexible working in 2025, findings from an exclusive City [...]
Buying a house? Pay in cash for a £28k discount January 7, 2025 Buying a house is the largest purchase most of us will make in a lifetime – but it may be cheaper for some than others. Cash buyers now pay £28,000 less on average for a home than those relying on a mortgage, and the ‘cash discount’ has risen by 12.4 per cent in just two [...]
Housing market braces for the New Year rush December 16, 2024 The housing market is getting ready for a big Boxing Day bounce following a seasonal dip in house prices this month. New seller asking prices dropped by 1.7 per cent in December to £360,197, according to Rightmove, but ended the year 1.4 per cent above December last year. Activity remained substantially stronger than the same [...]
Inside one fund’s £20,000 bet against Fundsmith December 9, 2024 Mark Ellis, manager of the Nutshell Growth fund, is on the brink of winning £20,000 for his boss in an unusual way. Ellis spoke to City AM following the news that City grandee Michael Spencer had become chair of his firm, Nutshell Asset Management, while upping his stake in the business from 25 per cent [...]
UK house prices reach record levels with demand set to continue December 6, 2024 House prices have now reached record levels as lower mortgage rates have helped improve buyer confidence for the fifth month in a row. According to the Halifax House Price Index, UK house prices rose 1.3 per cent in November, the biggest increase this year. November’s increase pushed the annual growth rate up 4.8 per cent, [...]