UK house prices hit record high as stamp duty cut powers market September 7, 2020 UK house prices hit a record high in August after pent-up demand and the stamp duty holiday combined to power the market upwards, according to lender Halifax. However, Halifax cautioned that prices were “unlikely” to continue on their current path, with rising unemployment set to catch up with the market. Prices rose 1.6 per cent [...]
UK house prices: Growth to remain ‘muted’ after coronavirus lockdown September 7, 2020 UK house price growth is expected to remain muted this year while transactions could plunge despite a bounce back in demand following the lifting of coronavirus lockdown restrictions. The latest research by estate agent Knight Frank forecasts that UK house prices will grow two per cent this year. However both prime central London and prime [...]
Watchdog opens probe into major homebuilders over leasehold practices September 4, 2020 The Competition and Markets Authority (CMA) today said it was opening enforcement cases against four of the UK’s biggest housebuilders over suspicions they may have broken consumer protection law in relation to leasehold homes. The CMA today said it was opening enforcement actions focusing on the practices of Barratt Developments, Countryside Properties, Persimmon Homes and [...]
Berkeley Group holds guidance on robust trading despite Covid-19 hit September 4, 2020 Property developer Berkeley Group today maintained its guidance for the full year after reporting better-than-expected trading during the coronavirus outbreak. The FTSE 100 housebuilder held its forecast for pre-tax profit of £500m and confirmed its plan to return £280m to shareholders per year. Berkeley said it now expected a more even split in profit between [...]
Coronavirus: Is the pandemic the final nail in the coffin for property funds? September 2, 2020 As the economy starts to reopen after lockdown, the commercial property sector is looking to bounce back from what has been a difficult year. But the vast majority of the UK’s open-ended property funds remain suspended after they were closed as the coronavirus outbreak took hold. And a recent consultation from the Financial Conduct Authority [...]
UK house prices recover from lockdown to hit all-time high in August September 2, 2020 UK house prices recovered from a lockdown-inspired dip to hit an all-time high last month. Annual UK house price growth picked up 3.7 per cent in August, according to Nationwide’s house price index. Prices rose two per cent month-on-month, after taking account of seasonal factors. The average UK house price rose to £224,123, up from [...]
UK house prices: Will the surge last or is it a bubble? September 2, 2020 UK house prices surged to an all-time high last month as pent-up lockdown demand and chancellor Rishi Sunak’s stamp duty cut stimulated the market. The average UK house price rose to a record £224,123 in August, up from £220,935 in July. Bombastic estate agents greeted the figures with glee, variously describing UK house prices as [...]
Barratt shares rise on strong forward sales despite Covid-19 hit September 2, 2020 Shares in Barratt Developments rose today as it announced strong forward sales despite taking a hit from the coronavirus lockdown. Forward sales at 23 August stood at 15,660 homes valued at £3.7bn, compared to 13,064 homes valued at £3bn last August. Barratt shares rose 5.7 per cent to 532p this morning. The company today scrapped [...]
UK mortgage lending rises in July as housing market picks up post-lockdown September 1, 2020 UK mortgage lending accelerated in July, a latest sign of a post-lockdown bounce-back in the housing market, and consumers returned to borrowing, data from the Bank of England showed today. Mortgage approvals jumped to 66,300 from just under 40,000 in June and seven times higher than their coronavirus pandemic low of barely more than 9,000 [...]
UK house prices to ‘hold firm’ in 2020 despite Covid-19 crisis August 27, 2020 UK house prices are set to hold firm for the rest of the year despite the looming recession and rising unemployment sparked by the coronavirus crisis. Annual house price growth has been sustained at 2.5 per cent as demand continues to outstrip supply, despite fears that the pandemic would cause property values to plunge. According [...]