Property market turns positive for first time in two years September 12, 2024 House prices significantly outperformed analyst expectations after the Bank of England cut its base interest rate, data from a closely watched survey from the Royal Institute of Chartered Surveyors (RICS) showed. The survey found that the UK house price balance, which measures the difference between the percentage of survey respondents reporting rising house prices and [...]
Epwin expects demand for building products to ‘remain subdued’ in 2024 September 11, 2024 Building products supplier Epwin has posted a slide in revenue for the first half of 2024 and said demand would likely "remain subdued" through the rest of the year.
Value of mortgages in arrears hits highest level since 2014 – Bank of England September 10, 2024 Mortgage holders are continuing to feel the pain from the Bank of England’s efforts to combat inflation, according to new figures. Data released by the Bank showed that the value of outstanding mortgages in arrears hit £21.9bn in the second quarter of this year, the highest figure since 2014. This was a 32 per cent [...]
Lendinvest: Fintech lands £500m investment from JPMorgan September 10, 2024 Property fintech Lendinvest has added £500m to a funding deal with JPMorgan as it looks to return to profitability after a rough year for mortgage lenders.
UK house prices: ‘Only the Autumn Budget could derail this train’ September 6, 2024 UK house prices grew at their fastest annual rate since November 2022, although analysts have already started to warn about the effects of a potentially bruising Autumn budget. Prices rose by 4.3 per cent year on year and 0.3 per cent month on month, taking the price of the average property in the UK to £292,505, [...]
Construction sector ‘turns a corner’ as housebuilding jumps September 5, 2024 Tim Moore, economics director at S&P Global Market Intelligence, said the recovery in housebuilding was the "most notable development" in August.
Shared Ownership: achievable, affordable and for everyone September 4, 2024 Kevin Sims, Director of SO Resi, says: Shared Ownership: achievable, affordable and for everyone Culturally, we have a strong affinity for homeownership. Purchasing a home is seen as a natural ‘life milestone’ akin to marriage or starting a family. Worryingly, shocks to the property market and the economy in recent years have made it harder [...]
UK property equity surges to new record as house prices recover with falling rates September 4, 2024 The value of the UK’s property equity is higher than ever before having surged to almost £6 trillion, new research has revealed. The study by the Equity Release Council calculated that recovering house prices helped to increase the figure to an “unprecedented” £5.7 trillion in the three months ending June 30, 2024. This was up [...]
Barratt: Profit halves at housebuilder but firm optimistic after Redrow deal September 4, 2024 Housebuilder Barratt reported a halving in profit and drop in completions amid a challenging housing market, but has said it is optimistic about the future. Barratt said its total home completions in the year ended 30 June reached 14,004, down 18.6 per cent from 17,206 in 2023 but at the upper end of the company’s [...]
How Rightmove became London’s (and the FTSE 100’s) most profitable company September 3, 2024 From an unknown tech start-up to the undisputed king of the UK’s online property sector, Rightmove is a shining example of how to turn a simple idea into a whole lot of profit. In its most recent full-year results, the London-listed property portal astounded investors by revealing it had achieved a record 71 per cent operating profit margin – [...]