Are house prices really going up? London had lowest change across UK with average in capital now £543,000 February 15, 2023 The average UK house price ended last year £26,000 higher than when 2022 started, although the annual pace of growth in property values is slowing. Property values increased by 9.8 per cent in the 12 months to December 2022, which was weaker than the 10.6 per cent annual growth recorded the previous month. London’s average [...]
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 [...]
House prices are poised to slide in 2023 but straight into the hands of the lucky few February 7, 2023 There’s a pretty wild variety of house price predictions doing the rounds. Capital Economics have forecast they could fall 12 per cent, while experts at property search site Zoopla are a bit more optimistic. The consensus seems to be somewhere around a six per cent fall in 2023. One thing is certain: house prices are [...]
‘Fizz has left the market’: House prices fell by 0.6 per cent in January as average property value plummets February 1, 2023 The average UK house price fell by 0.6 per cent in January, according to Nationwide Building Society. Annual house price growth slowed to 1.1 per cent , from 2.8 per cent in December, and the typical property value is now 3.2 per cent lower than its August peak, the lender said. The average UK house [...]
A tumble in mortgage approvals could be followed by a fall in house prices, analysts believe January 31, 2023 Mortgage approvals have plummeted to their lowest since the credit crunch after the global financial crisis in 2008, excluding the pandemic when the housing market was shut down, in a sign house prices could fall sharply soon, according to official data. The number of loans to Brits to fund a home purchase dropped more than [...]
House sales set to tumble this year on recession jitters, experts warn January 24, 2023 House sales are set to tumble due to owners waiting until the recession passes to cash in on their homes, estate agents have predicted today. Homeowners are expected to adopt a wait and see approach during the first six months of 2023 for fear they will have to sell their property at a lower-than-demanded price. [...]
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 [...]
FCA says more than 750,000 at risk of mortgage default as interest rates rise January 11, 2023 The Financial Conduct Authority (FCA) has warned that more than 750,000 people are at risk of defaulting on their mortgage in the next two years. In a letter sent to the Treasury Select Committee on December 14, the regulator said that at the end of June 2022, there were nearly 200,000 regulated mortgages in payment [...]
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 [...]