Nationwide: House prices fell nearly 2 per cent in 2023 as higher mortgage costs bite December 29, 2023 House prices in the UK fell 1.8 per cent over the course of 2023, according to the latest data from the Nationwide House Price Index.
City deals slump to post financial crisis low – but a wave of takeovers may be coming December 28, 2023 Dealmaking in the City cratered to its lowest level since the financial crisis this year as rising interest rates and economic jitters shook the market and dampened the appetite for deals.
Scrapping inheritance tax? Tories float tax cuts and help for house-buyers to turn around dire polling December 27, 2023 The Tories have been dropping hints they could make attention-grabbing pledges on housing and taxes as Rishi Sunak struggles to turn around his party’s major deficit in the polls.
Why 2023 might mark the end of the ‘London exodus’ as house prices stabilise December 26, 2023 Fewer Londoners ventured outside the M25 in 2023 to buy a home elsewhere, according to an index. Londoners collectively spent an estimated £28.7 billion on homes outside the capital this year, which was £11.7 billion less than in 2022, estate agent Hamptons found. It highlighted two factors at play in the market – the first [...]
Best of opinion 2023: Housing special December 22, 2023 Housing was a hot topic in 2023 – prices may have lowered a little (though by less than expected) but punishing mortgage rates and the impact of inflation have squeezed would-be buyers and sparked a mass landlord exodus. Renters’ rates have rocketed, up around 10 per cent year on year. All in all Londoners are [...]
Private equity firms line up London lawyers ahead of deals frenzy December 21, 2023 Private equity firms are predicting a busy first two months of deals next year - they're hiring lawyers and advisers now to get ahead of the game.
Bank of England holds interest rates – what does it mean for mortgages? December 14, 2023 The Bank of England has held interest rates at 5.25 per cent for the third time in a row, offering a glimmer of hope for the mortgage and property market. Steve Seal, chief of Bluestone Mortgages, said that today’s decision to leave rates untouched will be welcomed by “would-be and existing borrowers, who have felt [...]
London rents will cool next year – but tenants won’t be out of the woods yet December 12, 2023 Rents will continue to rise in London next year but at a much slower pace than what has been seen over the past 12 months. London landlords are expected to raise their prices by two per cent in 2024, a substantial decrease when compared to the nine per cent hike which was recorded by property [...]
New British coachbuilder Allesley to reveal ‘ultra-luxury’ SUV December 11, 2023 Allesley plans to become a leader in bespoke coachbuilt cars, with its first SUV project due to be revealed next year.
Mortgage lending to keep falling next year after steep drop in 2023 December 11, 2023 Mortgage lending is expected to keep falling next year after dropping by more than a quarter in 2023, according to banking trade body UK Finance, as borrowers are squeezed by high interest rates and household finances.