UK house prices continue to soar in biggest annual jump since 2003 September 14, 2022 UK house prices grew 15.5 per cent to £292,000 in the year to July, according to official figures – the highest annual inflation rate since 2003. The average cost of a home in the UK has continued to spiral as demand outstrips supply. In just 12-months, property prices have grown £39,000 higher, several thousand pounds [...]
Homebuyer enquires hit their lowest since 2020 as record low stock levels drive up prices September 8, 2022 The Royal institution of Chartered Surveyors (RICS) has today warned that the main driver behind price growth is record low stock levels. Homebuyer enquiries have fallen sharply – hitting their lowest since April 2020. Meanwhile, sales expectations are the ”most downbeat” since RICS began surveying the market in 2012. Senior RICS economist, Tarrant Parsons, said [...]
Property giant warns about growing fears of rapid slowdown in ‘a market teetering on the brink’ September 7, 2022 One of the UK’s biggest property groups has urged the new Prime Minister to address Britain’s housing crisis calling for “radical change”. The National Association of Property Buyers (NAPB) told City A.M. there is now growing fears of a rapid slowdown in a market which is “teetering on the brink”. And the NAPB added that [...]
London house prices hit record £554,718 after highest annual growth in six years September 7, 2022 The average cost of a home in London has hit a record £554,718, after reporting the highest annual house price inflation in six years, according to the country’s longest running index. While house price growth in the capital has continued to lag behind other parts of the UK, the rate of annual growth now stands [...]
This week: Housebuilding space to come under spotlight with key players revealing results September 5, 2022 Investors will get a good idea of how the housing market is faring with a trio of leading housebuilders unveiling financial results this week. Barratt Developments, Berkeley Group and Vistry are all set to update shareholders on their performance amid reports the housing sector is losing steam. London-listed housebuilding giants Barratt, Berkeley, Persimmon and Taylor [...]
Saturday Read: Cash-strapped home owners turn their properties into personal cash machine September 3, 2022 The amount of wealth being released through equity release could pass £6.5bn by 2025 after more than a decade of increasing popularity and growth. Overall, in the ten years following 2011, the amount of property wealth being freed up through equity release increased by 508 per cent, reaching the 2021 total of £4.8bn. Back in [...]
UK house sales up a third as mortgage rates rises spur movers August 23, 2022 Home sales in July were more than a third higher than in the same month last year, making it the most active month in 2022, according to the latest figures from HM Revenue & Customs (HMRC) today. Residential deals hit 110,970 in July, some seven per cent higher than June of this year. However, HMRC cautioned that [...]
UK house prices and rents defy inflation and continue to rise August 17, 2022 Despite rising inflation, housing prices have continued to grow since last year, official figures have revealed. In June, the average UK house price was £286,000, a £20,000 increase on last year, according to the latestfigures from the Office for National Statistics today. In London, house prices have seen 6.3 per cent growth in the last [...]
House prices continue to climb in nightmare scenario for first-time buyers even though buyer interest is slowing August 15, 2022 House prices continue to move firmly upwards and are still expected to be higher in a year’s time, according to the Royal Institution of Chartered Surveyors (RICS) this afternoon. The numbers are somewhat surprising given that surveyors have seen the longest stretch of shrinking buyer demand in the housing market since the early stages of [...]
Exclusive: Bank of England is ‘taking money from homeowners to curb inflation’ August 11, 2022 HOUSE prices will soon start to “flatline” following years of double digit rises, a leading property association claims this morning. Property values have continued to soar over the past two years in most regions of the UK – often defying predictions by economists who are convinced a crash is on the horizon. The National Association [...]