Breaking £370k mark: Average UK house price expected to jump by £40k within the next five years November 10, 2021 The average house price across Britain is expected to break through the £370,000 mark within the next five years, as property prices may rise by more than £40,000. Giving its predictions up to 2026, Savills predicts that the typical property value will increase from £327,838 in 2021 to reach £370,785. The property group expects the [...]
First-time buyer price inflation nears 10 per cent as London house prices shoot past £500k November 6, 2021 First-time buyer annual house price inflation is now at a five-month high, at 9.2 per cent, and has pushed ahead of the equivalent measure for home movers, at 8.1 per cent, according to property experts. In London, the average house prices have shot passed £500k. The average UK house price hit a record high of [...]
Property developers shares lift after rates held November 4, 2021 Property firms and house builders’ shares have surged following the Bank of England announcing it will hold rates at the same level. The country’s largest commercial property development company Land Sec has seen shares lift by just under four per cent, following the news. What’s more, developer British Land saw shares rise by more than [...]
UK house prices hit new highs with typical home topping £250k November 3, 2021 House prices have hit record highs, with the average property hiking more than £30k since the pandemic struck. Nationwide’s House Price Index was published against a backdrop of the Bank of England being anticipated to raise interest rates in response to rising inflation. The typical UK home has topped a quarter of a million pounds [...]
Brace for rate hikes and tapering from BoE and Fed November 3, 2021 Just as the dust settled on Chancellor Rishi Sunak’s third budget, the City turned its attention to more set piece economic announcements. Today and tomorrow, the US Federal Reserve and the Bank of England will deliver two of the most hotly awaited interest rate decisions in years. The latter is expected to hike interest rates [...]
City brings forward bets on Bank of England rate hike to this week October 31, 2021 The Bank of England will hike interest rates this week to hose down runaway inflation, according to several grandee City investment banks. JPMorgan, Deutsche Bank, Morgan Stanley and Santander have all brought their bets on when the Old Lady will increase borrowing costs to this Thursday’s rate setting meeting. The strengthening bets have been driven [...]
Millions face swelling mortgage bill as lenders brace for rate hike October 29, 2021 Households across the UK face swelling mortgage costs on top of higher tax bills and an increasing cost of living. Several of Britain’s big players in the mortgage market lifted interest rates on their products immediately after the budget this week in anticipation of a looming rate hike from the Bank of England. HSBC, Barclays [...]
Home sales set to hit highest level since 2007 October 26, 2021 The housing market is set to hit the highest level of sales since 2007, with 1.5m sales forecast for 2021. According to the Zoopla September House Price Index (HPI), combined market activity is set to amount to £473bn in transaction values this year. This is a £95bn hike on 2020. House price growth is currently [...]
House sales surged by more than two-thirds in September October 21, 2021 There were 160,950 residential transactions last month, considerably higher than last year, but the market is expected to slow following the stamp duty holiday stimulus. The provisional seasonally adjusted estimate of UK home transactions in September was up 68.4 per cent on September 2020, according to HMRC figures. There was a 67.5 per cent leap [...]
Not just NatWest: Compliance guru on why money laundering is rampant in the City October 21, 2021 Over the past few decades, money laundering has become an increasingly prevalent issue. Financial institutions are constantly looking for new ways to fight money launderers, and several anti-money laundering policies have been put in place to help this effort. However, the recent case against NatWest sent shockwaves through the City, with many financial institutions realising that the financial watchdog, [...]