Monthly mortgage payments top £1,000 as homeowning costs pile up rightmove hpi The average monthly mortgage payments for first-time buyers putting down a 10 per cent deposit have climbed past £1,000 for the first time, according to property site Rightmove today. The latest interest rates rise of 0.5 per cent has piled further pressure onto new buyers’ affordability, as property costs outpace annual wage packets. “It’s likely [...]
Rightmove’s profits and revenue up while average of 1.5bn minutes spend on site a month rental market Renting site Rightmove had a spike in both profits and revenues in the first half of the year, as customers spent an average of 1.5bn minutes on its site per month. It raked in £162m in the first half of the year, up nine per cent on 2021, while its operating profit was at £121.3m, [...]
House price growth slows with real estate sector warning of affordability crunch for buyers HOUSE PRICES The pace of house price growth slowed in May, with potential buyers’ tightening budgets set to slow growth further in the months ahead. According to today’s Rightmove’s house price index, buyer demand for available properties was down eight per cent last month, versus April. Even so, the price of property smashed another record, for the [...]
Average house price surpasses £367k as first time buyers face increasingly difficult landscape May 23, 2022 It is now no longer significantly cheaper to rent than buy, in terms of monthly outgoings, new analysis by RightMove has shown. While average monthly mortgage payments (£901) outpace average monthly rental payments (£887), the gap in payments has slimmed over the past decade. The property platform’s new analysis tracking first-time buyer affordability is based [...]
Rightmove chief Peter Brooks-Johnson to step down after more than 16 years May 9, 2022 Property firm Rightmove has said chief executive Peter Brooks-Johnson plans to step down after more than 16 years with the firm. Brooks-Johnson will leave the group over the next year, but will remain in the role until its full-year figures are unveiled in February 2023 and will help with finding a replacement and ensure a [...]
Buyers set hearts on Balham as stock gap hits unseen levels April 1, 2022 South London’s Balham has seen the biggest surge in buyer competition out of London boroughs this year. Buyer demand has soared 113 per cent over the past year, with home movers keen to snap up homes with space and gardens, Rightmove said. With Wandsworth and Tooting Bec commons around the corner, buyers are keen to [...]
London beats Cornwall to be most desired location for buyers January 12, 2022 London was 2021’s most searched for destination by potential buyers, property site Rightmove has shared. The capital beat Cornwall, which had piqued buyers’ interests earlier in the year. However, a desire to escape to the countryside was clear in the difference in total number of searches between London and Cornwall. The difference was just three [...]
Rightmove reports busiest ever Christmas for home movers January 5, 2022 It was the busiest ever Christmas for those wanting to move home, with buyer demand soaring compared to the same period last year. Property platform Rightmove said buyer demand was up 23 per cent compared to last Christmas, when the pandemic discouraged many movers. The website recorded its highest ever number of new sellers on [...]
House market set to return to normality as sellers make it New Year resolution to move December 13, 2021 The housing market is set to return to a kind of normalcy next year, as it appears homeowners are setting a New Year resolution to move. The market has been strangled by historically low stock levels but according to Rightmove, valuation requests from home-owners are up 19 per cent on this time a year ago. [...]
London lags behind country on house price growth December 1, 2021 London is still playing catch up to the rest of the country on house price growth, Rightmove data revealed today. The national average price of property is set to rise 5 per cent next year, thanks to the ongoing trends of fierce buyer demand and low stock levels. However, the London market will grow at [...]