Property transactions slide 17 per cent in October as hangover from high mortgage rates drags on Property The number of new homes bought in October was 17 per cent lower than the year before, as high mortgage rates during the summer led to lower activity, according to the latest figures from HMRC.
London sees 24 per cent drop in first-time buyers as high mortgage rates bite Property London experienced a 24 per cent decline in the number of first-time buyers entering the market in the last year as high mortgage rates crush home-ownership dreams.
Sofa seller ScS: Shoppers may splurge on home makeovers instead of moving amid high mortgage rates SOFA SALES Sofa seller ScS has suggested that some consumers may invest in home makeovers instead of opting to move house amid historically high mortgage rates. The furniture firm posted record sales growth on Tuesday morning but warned of “subdued” trading in recent weeks against a backdrop of household bills increasing. Revenue rose 8.6 per cent from [...]
House prices: Third of asking prices knocked down by £20,000 September 18, 2023 House prices are still being battered by high mortgage rates, with a third of properties knocked down in price by an average of £22,000
Falling mortgage rates drive sentiment in property market to a two-year high April 11, 2024 Recovery in the UK housing market is speeding up, according to the Royal Institute of Chartered Surveyors.
Mortgage growth set to reach decade low as high rates drive down demand November 6, 2023 The EY Item Club predicted that net mortgage loans would grow 1.5 per cent in 2023 and two per cent in 2024, representing the lowest two-year growth in a decade.
China’s central bank slashes mortgage rates in high-stakes bid to revitalize property market February 20, 2024 China's central bank slashed the benchmark mortgage interest rate on Tuesday in a bid to jumpstart the country's sluggish property market and boost its struggling economy.
Mortgage options reach 16-year high as banks offer lowest rates since June January 8, 2024 The number of mortgage options for borrowers has reached its highest level in almost 16 years, according to financial information website Moneyfacts, as banks slash rates to compete for business in a smaller market.
Mortgage rates climb to 15-year high following surprisingly strong wage growth July 11, 2023 The typical rate available on a two-year fixed mortgage has climbed to a 15-year high, surpassing the levels seen last Autumn in the wake of the disastrous mini-budget. According to Moneyfacts, the average two-year fixed residential mortgage rate hit 6.66 per cent, marginally higher than the 6.65 per cent seen last October. This was the [...]
London house prices slump again as high interest rates pile pain on mortgage holders October 6, 2023 London house prices cratered again in September as the Bank of England’s interest rate hikes continue to pile pain on mortgage holders and weigh on the housing market. House prices in the capital have fallen 4.8 per cent over the last year, the biggest fall of any region in cash terms at an average of [...]