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 [...]
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 [...]
End of the exodus? Number leaving London begins to fall December 26, 2022 Moves away from London appear to have passed a peak, with estimates suggesting around 20,000 fewer properties being bought outside the capital this year than in 2021. In a year which has seen strong house price growth outside London, just over a quarter (26%) of “London leavers” in 2022 bought properties with at least four bedrooms, down from 30% [...]
EXCL – Renters and homeowners go head to head: Tenants want price controls while landlords feel penalised December 21, 2022 While landlords say there is too much regulation in the private rental sector, a majority of tenants in the UK say that there is not enough, according to new research shared exclusively with City A.M. today. Almost three in four tenants say that the rental market needs tighter regulation to protect renters, but over three [...]
House prices up almost 10 per cent on last year as London’s average reaches £544k November 16, 2022 House prices increased almost 10 per cent on last year but were unchanged over August and September, new figures have revealed. The Office for National Statistics’ house price data showed a 9.5 per cent jump over 2022 to September, down from 13.1 per cent in August 2022. House prices however remained unchanged since August 2022, [...]
Not a good Monday for home sellers as UK house prices dive by £4k+ in just one month November 14, 2022 The average price tag on a home fell by more than £4,000 in November compared with the previous month, according to new industry figures released this morning. Across Britain, the average price of a newly marketed home in November is £366,999, Rightmove said. The £4,159 drop in the average asking price compared with October equates [...]
Home sellers in for a shock as house prices drop across UK and overall growth slows November 7, 2022 House prices across Britain recorded the biggest monthly fall in October since early 2021, according to an index out this a.m. The average property value fell by 0.4 per cent, marking the third month-on-month drop seen in the past four months, Halifax said. The latest month-on-month decrease follows monthly falls of 0.1 per cent in [...]
Savills warns of ‘acute’ house price plunges in London next year November 3, 2022 Savills, one of the biggest estate agents in the UK, has warned of an “acute” drop in house price value in London next year. A dreaded combination of higher mortgage rates and the cost of living crisis will fuel the price drop, the company said. The average cost of homes in the outer prime London [...]