House prices “under greatest pressure” in London and south east as rate hikes take their toll May 9, 2023 The average price of a home dipped slightly by 0.3 per cent in April but homes in the South of England and London remain "under the greatest pressure” as they face the most expensive property prices and borrowing costs.
Why you should never, ever bet against UK house prices May 9, 2023 Remember the start of the year? “UK house prices have gone into sharp reverse over recent months. And we expect that elevated mortgage rates will result in at least a 12 per cent price correction,” so said Capital Economics at the time. This is from building society Nationwide last week: “While annual house price growth [...]
Markets: Three things we learned this week May 5, 2023 This week the markets had a lot to digest, bumper energy profits, the tail end of the banking sector’s latest round of results, and a rate rise from the Federal Reserve. There was also some positive house price data, which gave the FTSE 100 a spring in its step. With Coronation weekend looming we take [...]
What lies ahead for London’s property market? May 5, 2023 All eyes remained on London’s housing market this week as a flurry of reports signalled a return to a stable property market in the capital, but analysts have warned that the storm may not be fully weathered yet… As reports by Rightmove showed on Friday morning, first time buyers in the capital continue to be [...]
Are housing targets good or bad? May 4, 2023 As a new WhatsApp controversy within the Tory party puts housebuilding targets in the limelight, Elena Siniscalco asks whether central targets are a good or bad housing policy
Mortgage rates ‘significantly’ increase – but what does it mean for the housing market? May 4, 2023 The number of mortgages being approved leaped in March in another signal that the outlook for the housing market is beginning to recover. Figures released today by the Bank of England showed that mortgage approvals for house purchases rose “significantly” to 52,000 in March from 44,100 in February. Lucian Cook, head of residential research at [...]
FTSE 100 close: London index claws back losses ahead of US Federal Reserve interest rate decision May 3, 2023 London’s FTSE 100 regained ground this today after nursing sharp losses yesterday driven by fears over the global banking system flaring up again. The capital’s premier index jumped 0.2 per cent to 7,788.38 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.27 per [...]
London house prices: First-time buyers need household income of nearly £100k to buy May 3, 2023 Londoners’ desire to get on the property ladder has helped fuel the housing market in the capital, despite households now needing an extra £12k in income to be able to afford their own place. Figures released by Zoopla, show that in April house price growth in London rose by 0.5 per cent, as demand and [...]
Explainer: Rishi Sunak eyes a revival of Help to Buy May 2, 2023 Just over a month ago, we were reporting the phasing out of Help to Buy, which was closed to new entrants last year. Now, Rishi Sunak is considering relaunching the policy. Talking of u-turns. The scheme was introduced in 2013 by George Osborne to help first-time buyers get onto the housing ladder. It offered lower [...]
House prices rise for the first time in seven months but analysts still expect a rough ride May 2, 2023 The housing market showed “tentative” signs of recovery in April as the price of homes rose 0.5 per cent during the month, however prices remain four per cent below their August 2022 peak. The Nationwide house price index showed that the annual rate of house price growth improved to -2.7 per cent from -3.1 per [...]