Mortgage transactions predicted to drop six per cent in 2022 due to interest rate hikes August 16, 2022 Mortgage activity is set to drop six per cent in 2022 as rising inflation and interest rates put pressure on potential homeowners. Brokers Henry Dannell published figures this week showing the housing market had crashed from the highs of 2021, with interest rates putting off new buyers. Figures precept mortgage activity to contract by six [...]
UK competition watchdog closes case against Barratt over leasehold homes August 16, 2022 The UK’s competition watchdog has closed a case against one of the country’s largest housebuilders Barratt over its sale of leasehold homes. In a statement today, the Competition and Markets Authority (CMA) said that “it was insufficient to support a clear legal case for the CMA to secure collective redress for Barratt leaseholders under its [...]
House prices continue to climb in nightmare scenario for first-time buyers even though buyer interest is slowing August 15, 2022 House prices continue to move firmly upwards and are still expected to be higher in a year’s time, according to the Royal Institution of Chartered Surveyors (RICS) this afternoon. The numbers are somewhat surprising given that surveyors have seen the longest stretch of shrinking buyer demand in the housing market since the early stages of [...]
Estate agencies have under 40 available properties on their books on average, says RICS August 15, 2022 The UK’s housing stock levels are close to all-time lows, according to the latest research, which has kept house prices suspended at levels which outpace annual wages. On average, estate agents have just 36 available properties on their books, the RICS Housing Market Survey revealed today. The average cost of a home remains at swollen [...]
Monthly mortgage payments top £1,000 as homeowning costs pile up August 15, 2022 The average monthly mortgage payments for first-time buyers putting down a 10 per cent deposit have climbed past £1,000 for the first time, according to property site Rightmove today. The latest interest rates rise of 0.5 per cent has piled further pressure onto new buyers’ affordability, as property costs outpace annual wage packets. “It’s likely [...]
Assetz Capital snags £200m to bolster small business support in mortgage lending August 15, 2022 Assetz Capital has snagged £200m in investment to help support smaller businesses through the UK’s economic turbulence, City A.M. can reveal today. The funding, from London-based Aeon Investments, will be injected over the next three years, and will see Assetz further diversify its mortgage lending and bolster its capacity to lend to the UK’s SMEs. The British [...]
Property buyers invest in full portfolios over single purchases August 12, 2022 Property buyers are seeking value for money as they spend an average of £1.2m to buy property in bulk rather than as a single investment. Such property packages come with an average of 6.4 bedrooms, at £196,000 per bedroom. This offers an average yield of 2.9% on these ready-made portfolios, research by specialist property lender Octane Capital, [...]
Exclusive: Bank of England is ‘taking money from homeowners to curb inflation’ August 11, 2022 HOUSE prices will soon start to “flatline” following years of double digit rises, a leading property association claims this morning. Property values have continued to soar over the past two years in most regions of the UK – often defying predictions by economists who are convinced a crash is on the horizon. The National Association [...]
Savills revenue spills into the £1bn mark as boss warns of risk to booming activity August 11, 2022 Estate agency giant Savills has continued to make hay while the sun shines, with revenue spilling over into the £1bn mark. Revenue up over 10 per cent to £1.03bn in the six months to 30 June, up from £932.6m in the same period last year. Like housebuilders, estate agencies have also been reaping the scaling [...]
Office giant Derwent London’s rental income swells with demand August 11, 2022 Derwent London has seen its rental income inch closer to £100m in the past six months, as demand for office space in the capital swells. Rental income rose over four per cent to £93.9m in the six months to 30 June up from £90.1m in the same period last year. As the so-called “flight to [...]