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 [...]
Homeowners told property values may get 11.3 per cent boost as Sunak restores stability November 2, 2022 The housing market could benefit to the tune of 11.3 per cent where house prices are concerned, as a result of the greater stability brought on by the appointment of Rishi Sunak as prime minister, a City firm told this paper today. Property lending agency Octane Capital analysed property market performance across the UK market [...]
Hounslow is a hit among Singaporeans who act as £5.8bn supporting cast to Hong Kong homebuyer frenzy in UK November 1, 2022 While the bonus of the so-called BNO visa scheme has resulted in a high level of Hong Kong homebuyers making their way to the UK, it has emerged that a supporting cast from Singapore is also helping to drive market activity in Britain, with Singapore nationals sitting on a property portfolio to the tune of [...]
Soaring interest rates could spark five per cent London house price fall October 31, 2022 Soaring interest rates and a tough cost of living crisis could send London house prices on a downward spiral, new research published today warns. Home prices in the capital are on course to shed five per cent next year, driven by sellers dropping prices to attract buyers hit by an affordability crunch, according to property [...]
Weekend Read: Britain’s ‘secret’ property market generates staggering £30bn in just one year October 29, 2022 Britain’s secret property market saw almost £30.9bn worth of property transactions last year, the highest annual market value in well over a decade. New figures show that in 2021, 98,235 homes are estimated to have been sold off-market, a 51.4 per cent increase on the previous year and the third largest annual total of off-market [...]
Shares jump for housebuilders as stamp duty survives mini-budget u-turns October 17, 2022 Shares jumped for this afternoon after stamp duty cuts survived Jeremy Hunt’s mini-budget backtrack. Major players like Barratt Developments, Persimmon and Taylor Wimpey all saw their stock rally after the new chancellor’s emergency statement this morning. Barratt’s shares climbed nearly four per cent, whilst Persimmon and Taylor Wimpey were up nearly five per cent. Hunt [...]
UK house prices level out as Covid boom subsides October 7, 2022 UK house prices have dropped for the second time over the past three months in a sign the surge experienced over the previous year is starting to level out. Average UK house prices dropped by 0.1 per cent in September from August’s record highs of £293,992. The September drop marks the second marginal decrease over [...]
Construction firms clear backlogs before downturn hits October 6, 2022 Construction firms are clearing a huge backlog of work, but the sector is on course to shrivel in the coming months as it is whacked by soaring interest rates, a closely watched survey published today. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) for the construction industry swung [...]
Home owners at risk of house price crash with London properties facing record value drop of £93k October 5, 2022 Should the market decline at the same rate as the 2008 financial crisis, as predicted by some analysts last week, it could wipe almost £54,000 from the value of the average property in Britain, according to new data shared with City A.M. this morning. The research shows that the average house price across Britain fell by [...]