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
Rents rise by £110 a month over last year in latest blow for UK tenants September 14, 2023 The cost of renting a property has risen by £110 a month over the last 12 months, according to the latest damning report about the health of the UK’s housing sector, as shrinking supply in the market continues to pile on misery for tenants. Rent supply has shrunk 30 per cent below the average for [...]
Landlords in wealthy London boroughs feel the pinch as Chinese students ditch UK September 13, 2023 Landlords in wealthy London boroughs are feeling the pinch from international students choosing to study outside the UK, as rents in premium postcodes showed signs of slowing. The average rental value growth in prime central London (PCL) – which includes the likes of Chelsea and Kensington – fell to 12.4 per in the year to [...]
Redrow: Another housebuilder warns on ‘standstill’ market as mortgage rates bite September 13, 2023 Redrow has become the latest housebuilder to be battered by a cratering market as it posts a four per cent slide in profit before tax to £395m in its full year results.
London rent crisis spirals as almost half of UK landlords tried to sell up in last year September 12, 2023 Almost half of UK landlords have tried to sell their property in the last 12 months, as owners look to rid themselves of mortgage pressures in a worrying blow for renters. In a survey which quizzed both landlords and estate agents – conducted by lettings platform Goodlord – some 77.5 per cent of respondents in [...]
Vistry’s share price jumps 15 per cent as it sets out new affordable homes focus September 11, 2023 Shares in Vistry jumped 15 per cent this morning after the housebuilder said it will now solely focus on building affordable homes.
Home insurance: Price of a quote jumps by a quarter – and London is worst hit September 8, 2023 The average quoted price of home insurance has surged by around a quarter (25.7 per cent) annually, according to an index – and London is worst impacted. Data analytics firm Consumer Intelligence, which compiled the report, said this is the biggest jump it has seen in records going back to 2014. The average premium quoted [...]
New York’s last affordable Manhattan property is way better value than London September 7, 2023 At Inwood Hill Park, New York, there’s a metal plaque pointing out where Manhattan was sold from native Americans to a Belgian coloniser in 1626. The land was exchanged for the lowly price of some trinkets and beans. A tulip tree had marked this spot for 280 years but when it died in 1938 it [...]
House prices fall at fastest rate since 2009 – and it’s worst in London September 7, 2023 House prices are falling at their fastest annual rate since the global financial crisis, with London hit hard
Barratt Developments: Housebuilder blames mortgage misery for plummeting profits September 6, 2023 The number of homes the company built also declined 3.9 per cent during the term to 17,206, as a series of interest rate hikes by the Bank of England made buyers cautious.