Latest Market Updates
Halifax Reports Highest Annual House Price Growth since 2022
According to Halifax, the UK's largest mortgage lender, average house prices rose by 0.3% in September, matching August's increase. The annual inflation rate for house prices stands at 4.7%, the highest since November 2022, with typical property values now at £293,399. Northern Ireland recorded the strongest growth at 9.7%, while Wales and the North West ...
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UK Residential Property Market sees Rise in Buyer Confidence
The UK residential property market has seen a rise in buyer confidence, with over 90,000 transactions in August 2024. This increase is attributed to better mortgage options and the Bank of England’s interest rate cut in July. though seasonally adjusted figures showed a slight decline. HMRC data from August shows 90,210 transaction, a 5% rise ...
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UK Housing Market Braces for Election
In April, UK house sales increased by 5% to 90,430, following a slowdown due to rising mortgage rates. Nationwide's chief economist, Robert Gardner, noted that general elections usually have minimal impact on house prices, with broader economic trends being more influential. Research from Compare My Move indicated that house prices typically rise by 4.6% in ...
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UK Housing market surge cools
At the start of 2024, the UK housing market experienced a brief surge in activity, but this has since cooled. While house prices dropped by -0.2% in March, annual growth increased to 1.6%, with northern regions like the North East (2.3%) and North West (1.6%) leading the way. London also saw strong quarterly growth (1.6%) ...
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January 2024 Market Updates
The January 2024 update on the UK housing market highlights several key trends: - House Prices: House prices held steady in December 2023, with a slight annual drop of -1.8%. However, there were notable regional differences, with East Anglia seeing the largest decline at -5.2% and Scotland showing modest growth of 0.6%. - Mortgage Rates: ...
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UK House Prices Experience Modest Growth in June, but Challenges Signal Potential Falls Ahead
House prices in the UK experienced a slight growth of 0.1% in June, resulting in an annual growth rate of -3.5%, according to Nationwide. However, challenges in the mortgage market and increased supply suggest that future price falls are likely. Although mortgage approvals increased in May, they still remained below pre-COVID levels, and rising mortgage ...
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UK Mortgage Rates Rise, Putting Pressure on Housing Market
Mortgage rates in the UK have increased, which could put pressure on the housing market. The average rate on a two-year mortgage deal rose to 5.82% from 5.30% a month ago. The rise in rates comes after high inflation data led to expectations of more interest rate hikes from the Bank of England. HSBC temporarily ...
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UK Asking Prices Rise in May, Reflecting Positive Economic Outlook and Increased Buyer Demand
According to property website Rightmove, asking prices for homes in the UK increased by the highest amount this year in May. The average price rose by 1.8% from April, driven by a more positive economic outlook and steady mortgage rates. This growth in confidence may be due to the fact that earlier predictions of a ...
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Stability in UK Housing Market as Prices Show Modest Increase in March
In March, the average price of homes entering the market in Britain showed stability, with a modest monthly increase of 0.8%. Although this growth was below the historical average for March, it indicates a more balanced housing market following the disruptions caused by the "mini-budget" in 2022. Despite challenges such as higher mortgage rates and ...
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Londoners’ Desire to Move Outside the Capital Stabilizes as Affordability Remains Key Factor
According to a study by Hamptons, the number of Londoners looking to move outside the capital has decreased over the past year. In 2022, Londoners purchased 81,200 properties outside London, which is nearly 20,000 fewer than the previous year. The trend of Londoners moving out of the city peaked during the COVID-19 pandemic due to ...
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Market News
House prices in the UK grew at their quickest annual rate since 2017 according to latest reports from Halifax. The findings showed that house prices increased by 5% in the three months to April 2019 in comparison to the three months leading up to April 2018.
Research conducted by property website Rightmove has given a boost to landlords and property investors as rental demand is expected to remain bouyant as three quarters of UK renters say that they cannot afford to purchase a home.
Looking back even further, the global financial crisis of 2008 saw people aatracted to a long term investment class with a proven track record of performance. Despite concern about what Brexit will bring, projections for house prices remains optimistic. Savills expects houses to rise in value by almost 15% in the next five years.
