Home REIT: Embattled social housing investor looks to offload properties and ‘stabilise’ portfolio April 5, 2023 Scandal stricken social housing investor Home REIT said it is looking to offload some properties today as it scrambles to raise cash and “stabilise” its portfolio ahead of the appointment of a new investment adviser. In a statement this morning, bosses said the former FTSE 250 firm “continues to explore all available options” as it [...]
Homebuyers in London forced to wait it out as UK housing market slows down April 5, 2023 The average time to sell a home jumped by 15 days year-on-year in March as the UK’s housing market was impacted by increased living costs and soaring inflation. Estate agent Zoopla said homes in London took the longest time to sell with property taking an average of 44 days, likely fuelled by the soaring prices [...]
The London boroughs with the lowest property prices: Where is the cheapest place to buy in London in 2023? April 3, 2023 With the OBR expecting property prices to drop by 10 per cent this year, first time buyers are tentatively hoping that 2023 might be the year they can finally afford to get on the property ladder. But with London’s property market still too hot for many young buyers, where is the best borough to buy? [...]
Blackstone close to £700m deal for commercial landlord Industrials REIT April 3, 2023 US private equity giant Blackstone is close to a £700m take-private deal with London-listed landlord Industrials REIT as it ramps up its bargain-hunt on UK property firms.
How likely is a UK property market crash and what IS happening with house prices? March 31, 2023 This week prospective buyers were hit with another flurry of less-than optimistic reports about the outlook for the housing market; house prices continued to fall in value and mortgage approvals struggled to get above pre-pandemic levels. Nationwide’s report found that house prices fell 3.1 per cent in March, the largest annual decline since July 2009 [...]
House prices fall in largest annual drop since 2009 as inflation and higher borrowing costs dampen property market March 31, 2023 House prices fell 3.1 per cent in March, the largest annual decline since July 2009 as consumer confidence remained weak and household budgets came under increasing pressure from high inflation. According to data from Nationwide, East Anglia, which was the strongest performing region last quarter, saw a significant slowdown, with prices falling 1.8 per cent [...]
A quarter of private renters in England don’t ask for repairs for fear of eviction March 30, 2023 A quarter of renters in England don’t ask for repairs in their homes for fear of eviction, a survey has found. The polling, conducted by YouGov for homelessness charity Shelter, found 76 per cent of private renters had experienced disrepair in the past year, and 51 per cent experienced damp or mould. An additional 31 [...]
Controversial Help to Buy policy to boost home ownership to end tomorrow March 30, 2023 A flagship policy to boost home ownership among young people will come to an end tomorrow. The Help to Buy Scheme, launched in 2013, will be wound up, after more than 350,000 people used it to buy their first home, with more than £2.2bn of support last year. But some property experts have warned the [...]
Mortgage approvals snap back following mini budget chaos, but net lending at lowest since 2016 March 29, 2023 Mortgage approvals have improved for the first time since August, as the market begins to shake off the stress of the mini-budget, however experts have warned that the housing market will “remain price sensitive”. According to the Bank of England’s Money and Credit report for February, net mortgage approvals for house purchases increased to 43,500 [...]
Bellway: How a spring uplift in the property market is giving housebuilder cause for optimism March 28, 2023 Bellway has said homebuyer demand has started to improve after seeing reservations plunge by nearly 50 per cent due to soaring mortgage rates. The housebuilder group, whose headquarters are in Newcastle, reported underlying pre-tax profits falling 4.6 per cent to £312.1 million for the six months to January 31. It delivered record revenues, up 1.6 [...]