House prices drop for first time this year as Bank of England interest rate hikes take hold June 19, 2023 House prices have dropped for the first time this year, sparked by the property market being whacked by the Bank of England’s 12 successive interest rate hikes to quash inflation, new figures out today show. The average price of a home coming to market fell £82 over the last month to £372,812, the first drop [...]
More lenders expected to hike mortgage rates following HSBC, brokers warn June 15, 2023 More and more lenders are set to increase rates on mortgages, brokers have warned, as the fallout from the Bank of England’s rate rise continues to devastate homeowners. The fresh blow to the housing sector comes as HSBC pushed mortgage rates up for the second time in one week in an unprecedented move for the [...]
London homeowners face ‘grim’ mortgage cost hike of £7,300 if Bank raises rates again June 12, 2023 London homeowners looking to renegotiate their mortgage this year face a whopping £7,300 rise in annual costs as experts warn of the “grim reality” of rising interest rates. The Bank of England is predicted to hike interest rates for the 13th consecutive time this year to 5.5 per cent in efforts to cool soaring inflation, [...]
FTSE 100 close: London indexes close lower over fears of further rate hikes and fragile housing market June 8, 2023 London’s main indexes closed lower on Thursday as investors feared further rate hikes and yet another report pointed to a gloomy future for the UKs’ housing market. The capital’s premier index fell 0.32 per cent to 7,599.74 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
House prices: London and south east falling faster than rest of the country June 7, 2023 London house prices have fallen by more than the national average, according to new data, with the south east also hit hard
Prospective buyers hit with fresh blow as mortgage approvals continue to fall June 1, 2023 Prospective buyers continue to suffer setbacks as fresh data reveals that mortgage approvals fell during April. Net mortgage approvals for house purchases fell from 51,500 in March to 48,700 in April, figures from the Bank of England show, with experts predicting that the figure could fall further following the central bank’s decision to hike interest [...]
Interest rate hikes triggers house price fall and analysts think there’s further to go June 1, 2023 House prices remain below their August peak as demand softens following a spike in interest in early spring. The annual rate of house price growth slipped back to -3.4 per cent from -2.7 per cent in April, figures from Nationwide show, as the Bank of England’s decision to hike interest rates rattled buyers confidence. In [...]
House sales drop by almost a third as market braces for slowdown in mortgage approvals May 31, 2023 The number of houses sold in the UK has fallen by almost a third as the market struggles to upkeep the momentum from a surge in sales at the start of spring. UK residential transactions fell 32 per cent in April with 67,220 homes sold, figures from HMRC show, 32 per cent lower than April [...]
Global travel and weak pound fuels London prime property recovery amid fears of Labour stamp duty plans May 30, 2023 The return to global travel and the weak pound helped the fuel recovery of London’s prime property market in the first third of 2023. Data by estate agents Knight Frank, shows that sales on luxury pads above the five million pound price point are up 40 per cent compared to the same period last year [...]
House prices continue to fall as buy-to-let landlords sell up May 30, 2023 House prices are continuing to fall, according to a closely watched index, but transactions are ahead of the long-term average due to landlords selling up. According to estate agent Zoopla, landlord properties accounted for 11 per cent of sales in the last month, as high mortgage rates and energy bills forced many property owners to [...]