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 [...]
Exclusive: Britain needs to keep building says Marshalls boss August 18, 2022 The Government must continue its plans to boost domestic infrastructure, argued the boss of building giant Marshalls.
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 [...]
Restaurant design has changed since the pandemic: Here’s how August 17, 2022 The shortlist for this year’s Restaurant & Bar Design Awards has been announced, with hundreds of entries from across the world showcasing the most opulent, innovative and eye-catching dining rooms. Attempting to discern trends from the vast array of restaurants – of which the UK makes up only a small percentage – can be a [...]
Persimmon hands £750m to shareholders so far this year August 17, 2022 Persimmon, one of the UK’s largest housebuilders, has handed £750m to shareholders since the beginning of this year as the country’s housing market booms. The average selling price of a home has grown by a little under £10,000 over the past 12-months. “House prices have proved remarkably robust since the pandemic began, buoyed by pent-up [...]
Mortgage transactions predicted to drop six per cent in 2022 due to interest rate hikes August 16, 2022 Mortgage activity is set to drop six per cent in 2022 as rising inflation and interest rates put pressure on potential homeowners. Brokers Henry Dannell published figures this week showing the housing market had crashed from the highs of 2021, with interest rates putting off new buyers. Figures precept mortgage activity to contract by six [...]
UK competition watchdog closes case against Barratt over leasehold homes August 16, 2022 The UK’s competition watchdog has closed a case against one of the country’s largest housebuilders Barratt over its sale of leasehold homes. In a statement today, the Competition and Markets Authority (CMA) said that “it was insufficient to support a clear legal case for the CMA to secure collective redress for Barratt leaseholders under its [...]
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 [...]
Estate agencies have under 40 available properties on their books on average, says RICS August 15, 2022 The UK’s housing stock levels are close to all-time lows, according to the latest research, which has kept house prices suspended at levels which outpace annual wages. On average, estate agents have just 36 available properties on their books, the RICS Housing Market Survey revealed today. The average cost of a home remains at swollen [...]
Monthly mortgage payments top £1,000 as homeowning costs pile up August 15, 2022 The average monthly mortgage payments for first-time buyers putting down a 10 per cent deposit have climbed past £1,000 for the first time, according to property site Rightmove today. The latest interest rates rise of 0.5 per cent has piled further pressure onto new buyers’ affordability, as property costs outpace annual wage packets. “It’s likely [...]