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 [...]
Most UK homebuyers and owners are locking in mortgage rates as rises loom September 13, 2022 The majority of homebuyers and owners are locking in their mortgage rates to escape looming rate rises later this year, according to the latest data. Most new buyers – some 95.5 per cent – are taking out fixed rate mortgages, the Financial Conduct Authority (FCA) found, while the proportion of mortgaged homeowners fixing their rates [...]
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 [...]
Housebuilder Barratt shares slide despite pandemic recovery and £5.2bn revenue September 7, 2022 Housebuilder Barratt Developments’ shares slid this morning despite its construction output recovering to pre-pandemic levels and a rosy revenue of £5.26bn. The FTSE-listed housebuilder’s annual results coincided with a caution from Halifax today, warning of a housing market slowdown amid the cost of living crisis, soaring energy bills and rising mortgage interest rates. Completions climbed [...]
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 [...]
UK house price growth slows to 10 per cent as energy crisis batters Brits September 1, 2022 Annual UK house price growth slowed to 10 per cent in August, from 11 per cent in July.
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 [...]
Inflation overshoot spooks investors as FTSE 100 house builders tumble August 17, 2022 London markets were shaken today by concerns that inflation is firming in the UK as housebuilders suffered heavy losses on the prospect of more rate hikes. The capital’s premier FTSE 100 index dropped 0.27 per cent lower to 7,515.75 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
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 [...]