House prices rose just £14 last month as Bank of England rate hikes chill demand February 20, 2023 UK house prices rose by just £14 last month indicating possible buyers are turning their noses up at sellers slapping huge tickets on their homes, new figures out today reveal. The average asking price for a home in the UK came in at £362,452, making last month’s increase the smallest between January and February since [...]
Affordable homes: London targets not being met despite 50 per cent rise in construction projects, claim Tories February 14, 2023 London mayor Sadiq Khan has been criticised for being behind on building targets for affordable homes, despite new construction projects increasing on last year. City Hall says 900 more affordable homes were completed in the financial year to December 2022 than in the same period last year, a rise of 50 per cent. But Tory [...]
London still has hottest property prices in the UK, but house inflation in the capital is cooling January 18, 2023 London continues to have the highest house prices in the country, with the average UK house price increasing by more than 10 per cent in the year to November, according to new data released today. The latest figures from the Office for National Statistics (ONS) show that house prices went up across the nation by [...]
Londoners face unprecedented rent increases in 2023 as mortgage rates for landlords skyrocket January 13, 2023 Tenants are struggling this January. Along with the rest of the nation, they’re dealing with a cost of living crisis, driven by rising energy prices, and adding to this pressure is the rising price of rent. Moreover, landlords face unprecedented increases in mortgage rates, forcing them to up the rent. Tenants in London have endured [...]
Inheritance tax: London property nets HMRC £820,000 in death duties on average, double other regions’ intake January 9, 2023 Property makes up half the wealth of estates in London paying inheritance tax (IHT) – around twice as much as most other regions, according to a retirement specialist. An HMRC Freedom of Information (FOI) request from retirement specialist Just Group revealed that in 2019-20, the latest financial year of available data, property accounted for 50 per cent [...]
London house prices grow in December with UK homes falling, but 2023 set to bring good news for property owners January 6, 2023 London’s average property price grew by almost 3 per cent, while the average UK home fell 1.5 per cent between November and December 2022. The average property actually rose two per cent when compared with the same month in 2021, according to the latest Halifax house price data, while annual rate of house price growth [...]
Property boss urges Sunak to ditch tax breaks for eco-friendly home owners in 2023 January 4, 2023 Plans to offer stamp duty refunds to home owners who make their properties more eco-friendly are simply “a bad idea,” one of Britain’s largest property associations has told City A.M.. Banks last year urged the Government to incentivise changes by refunding stamp duty to buyers who pay for green upgrades within two years of making [...]
Experts predict house prices will fall in 2023 – but it’s not all bad news for homeowners January 4, 2023 Homeowners can expect to see house prices fall this year by as much as six per cent over the year, according to a leading property association. The boss of the National Association of Property buyer Jonathan Rolande does though expect activity and demand to pick up in the summer months. ““This will negate some of [...]
London rental market: Why rents might finally stop climbing so fast in 2023 January 3, 2023 London’s rental market is showing signs of “stabilising” with prices beginning to slow despite demand remaining high – meaning rents may finally start to slow their aggressive recent climb in the capital. Estate agency Chestertons has warned that 2023 will still be disrupted by pandemic shifts in supply, but renters may have an easier time [...]
London house prices: How bad will the crash be in the 2023 recession? January 1, 2023 London house prices are expected to fall this year as interest rates rise and the recession bites – but will it be a small slide or a full-blown crash? Property experts are torn A housing market cooldown is expected in 2023 but prices will remain higher than before the coronavirus pandemic started, experts have suggested. [...]