As UK house prices soar, first-time buyers struggle much more than mum and dad did June 12, 2018 A third of UK residents preparing to buy their first house are struggling to save enough money for a deposit – six times the proportion of people who bought their first house 20-30 years ago. That’s according to a 2,000-person survey carried out by self-storage company, Space Station, which asked 1,000 Brits who are currently [...]
UK house prices edge up in May after April slump – Halifax June 7, 2018 The UK housing market remains subdued, however, house prices in the three months to May were 1.9 per cent higher than the same period a year earlier, according to survey by UK bank Halifax. On a monthly basis, prices rose by 1.5 per cent in May, partially reversing the 3.1 per cent decline in April. [...]
Safe as houses: How to invest in property without buying a home May 31, 2018 Brits are falling out of love with the property market. A recent report from Rathbones found that more than half of investors now take a pessimistic view on the sector. It’s easy to see why, when the government is making life harder for private landlords – with a tax hike just one of several measures [...]
London house prices see biggest annual drop in the whole of the UK May 24, 2018 London house prices were the worst performing in the UK over the last year, according to the latest figures from the Office for National Statistics (ONS). The ONS House Price Index, compiled in conjunction with the Land Registry, showed that house prices in the capital decreased by 0.7 per cent over the last year. This [...]
Nationwide profits slip for second year running after planned mortgage retreat May 22, 2018 Nationwide, Britain’s biggest building society, today announced a slump in mortgage lending amid concerns of a “fiercely competitive market”. Net lending fell from £8.8bn to £5.8bn in the year to 4 April. Annual profit slipped seven per cent to £977m A planned retreat from the buy-to-let mortgage market was the driving force behind falling lending, [...]
Pound falls as BoE hold interest rates again – but experts argue a rise is still on the horizon May 10, 2018 The pound has fallen on the news that the Bank of England has chosen not to raise interest rates, falling 0.2 per cent against the dollar to $1.35. The decision came after a slew of weak economic data put governor Mark Carney’s plans to raise rates above historic 0.5 per cent levels on hold. Just [...]
Royal Institution of Chartered Surveyors: London house prices predicted to keep falling as market has worst month since 2009 May 10, 2018 London’s housing market has experienced its worst month in nearly a decade, with surveyors expecting prices to drop even further over the next year. A highly-regarded survey published this morning reveals that 65 per cent more property surveyors saw London prices fall during April rather than rise, the weakest reading since February 2009. Sinking prices [...]
Will UK interest rates rise in May? May 4, 2018 Rate rises are important to many in the UK, particularly those whose wealth is tied to the value of their homes and the mortgage debt they pay on them. A rate rise could have a substantial impact on both, potentially driving down the value of the home while increasing mortgage costs. It can also have [...]
James Brokenshire has no time to waste in fixing the capital’s housing crisis May 2, 2018 As James Brokenshire takes up his new role as housing secretary, his top priority must be to fix the capital’s broken housing market. It is no exaggeration to say that London is in the midst of a housing crisis. Demand far outstrips supply; while we have built 200,000 new homes over the last decade, London’s [...]
Markets brace for the latest Bank of England interest rate decision May 1, 2018 Following a decade without so much as a hint of a rate rise, expectations are high for the UK’s second increase in just seven months. Most economists expect the Bank of England to raise the base rate to 0.75 per cent this month, up from the current 0.5 per cent. The UK’s economic picture is [...]