Average house price tops £274,000 as pace of growth expected to slow February 16, 2022 House prices climbed 0.8 per cent between November and December of last year and 10.8 per cent year on year. According to the latest UK house price index from the Office for National Statistics, the average price of a property in the UK was £274,712. However, real estate experts said the high rate of growth would [...]
Higher interest rates and rebounding loan demand to boost UK banks February 10, 2022 A higher interest rate environment and a rebound in loan demand is set to boost Britain’s biggest lenders. UK banks’ net interest margins will widen on the Bank of England and the world’s biggest central banks launching a rate hike cycle this year to tame inflation, analysts are betting. Final quarter earnings for UK banks [...]
Bank of England has undercooked inflation forecasts again, City economists warn February 7, 2022 The Bank of England has undercooked its forecasts for inflation again in a sign the cost of living squeeze will get worse before it gets better, reveals new estimates from City economists. Inflation will peak at 7.5 per cent in April, higher than the Bank’s expected peak of 7.25 per cent in its latest forecasts, [...]
Average UK house prices soar to record £276,000 February 7, 2022 The average UK house buyer forked out 9.7 per cent more in January 2022 than they would have done a year ago.
Brits should brace for further rate hikes from Bank of England, City economists warn February 3, 2022 Households should brace for further rate hikes from the Bank of England this year as it steps “up its fight against inflation”. The Bank will rapidly pivot policy toward getting on top of Britain’s cost of living crunch, City economists are betting after today’s decision to raise rates at back-to-back meetings for the first time [...]
Borrowers ‘needn’t panic just yet’ after interest rates hike February 3, 2022 Real estate experts have said a rise in interest rates is “unlikely to dampen motivation to move” despite warnings that the news signals higher mortgage costs down the line. The Bank of England has hiked rates at successive meetings for the first time since 2004, with a majority of the Bank’s rate setters voting to [...]
Strongest year-start since 2005: Brits fork out average of £255,556 on houses as prices soar February 1, 2022 Buyers are paying more than ever before for their homes with the average UK house costing 11.2 per cent more than it did last year.
Even at seven times their income, single homebuyers are priced out of the market by £24,000 January 31, 2022 Despite many lenders relaxing their loan to income criteria, the average UK homebuyer is still priced out of the market unless purchasing with a partner. The current average loan to value, or the multiple of salary that a lender will loan to a buyer, has increased from 3.87 to 4.12 in the last ten years [...]
Households braced for mortgage shock ahead of rates hike as cost of living crisis deepens January 31, 2022 Fresh warnings over the cost of living have been issued as millions of households could face a huge mortgage shock. Trade body UK Finance has said one in four mortgage borrowers on variable rate deals will be affected by an anticipated rates rise, The Telegraph first reported. The Bank of England is anticipated to hike [...]
Week ahead: City braces for another Bank of England rate hike January 30, 2022 All eyes will be on Threadneedle Street this week as the City braces for another rate hike from the Bank of England. The Old Lady is widely expected to lift borrowing costs again on Thursday, marking the first time the central bank has hiked rates at successive meetings since 2004. The Bank lifted rates for [...]