Average house price of £29m: Here are 2021’s most expensive UK streets (and they are all in London) December 22, 2021 If you have a spare £29m in the bank, you may be able to buy yourself a property in the most expensive street in England and Wales, or London rather, as the five most pricy streets in the country are all in the capital. Nestled by the River Thames, Tite Street in the Borough of [...]
Growth of property values hits 15-year high: House prices rise for fifth straight month amid 8.2 per cent annual jump December 7, 2021 Average UK property price hits a new record high of £272,992 last month, rising in November by 8.2 per cent compared to the same month a year earlier, according to Halifx, publishing its monthly index this morning. Prices increased by 1 per cent month-on-month in November while quarterly house price inflation is now at its [...]
First-time buyers in London now need to stump up nine times their annual earnings to get on property ladder November 25, 2021 A new report published this morning shows that first-time buyers now have to cough up five-and-a-half times their typical annual earnings to get on the property ladder. In London that is even nine times. As house prices have surged, the average first-time buyer house price-to-gross earnings ratio in the third quarter of this year was [...]
Landlords hiking rents at fastest pace since 2008 as demand for housing in London shoots up November 16, 2021 Private sector rents in September were 4.6 per cent higher than a year earlier at £968 per month on average, marking the strongest growth in 13 years. The fastest rice since 2008 comes as strong demand outstrips supply, according to an index. Excluding London, rents across the UK were up by 6 per cent annually, [...]
Home values dropping: Average house price falls by more than £2,000 November 15, 2021 New figures show this morning that the average price of a home coming to market dipped by more than £2,000 so far this month. Across Britain, the average price tag now stands at £342,401 – £2,044, or 0.6 per cent, less than in October – as sellers seek to attract buyers’ attention ahead of the [...]
Price of buying a home climbs three times as fast as building costs November 12, 2021 The cost of buying a Redrow home has increased nearly three times as fast as the cost of building one despite squeezes on supply chains, the company revealed today. Redrow said it was working with suppliers to make sure that it could keep building at the same pace as in the past, but that pressures [...]
Only 37 properties on estate agents books: Lack of homes is pushing up house prices November 11, 2021 Despite an overall net balance of 10 per cent of property professionals reporting an increase in new buyer inquiries, estate agents only have 37 properties on their books on average, down from around 42 in March, the Royal Institution of Chartered Surveyors warned this morning. A growth in inquiries from house-hunters in October is yet [...]
Breaking £370k mark: Average UK house price expected to jump by £40k within the next five years November 10, 2021 The average house price across Britain is expected to break through the £370,000 mark within the next five years, as property prices may rise by more than £40,000. Giving its predictions up to 2026, Savills predicts that the typical property value will increase from £327,838 in 2021 to reach £370,785. The property group expects the [...]
Post-pandemic exodus may achieve what levelling up agenda has not as City’s wealthy retreat October 29, 2021 The City of London is today unrecognisable from the form it took just two years ago, as the impact of the pandemic has left it relatively quiet and lacking the commuter traffic that has long characterised the Square Mile. In fact, a recent report showed that footfall in London stands at just 35 per cent of pre-pandemic [...]
Bank of mum and dad finances half of all first-time buyer purchases as parents spend $10bn October 22, 2021 Nearly half of all first-time buyer housing transactions this year are being financed by the ‘bank of mum and dad’, according to a new property forecast, shared with City A.M. this afternoon. Total contributions from parents helping younger generations to buy a home are expected to reach £9.8bn in 2021, analysis from property group Savills [...]