Latest Market Updates
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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Uncertainties and Challenges Cast Shadow on UK Housing Market’s Future
The UK housing market is facing potential slowdown due to various factors, including a looming recession, rising interest rates, the end of Help to Buy, a long price boom, the cost of living crisis, and imminent tax rises. While recent data from Halifax and Nationwide shows a slowdown in house price growth, the market is ...
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UK House Price Growth Slows to 9.5% in September 2022
The annual growth rate of UK average house prices slowed to 9.5% in September 2022, down from 13.1% in August 2022. This deceleration is due to the significant rise in house prices in September 2021, coinciding with changes to Stamp Duty Land Tax. There was no change in UK house prices between August and September ...
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UK house prices in 2021 show fastest growth rate in 15 years
UK house prices rose by more than 10% in 2021, the fastest growth rate in 15 years, according to new figures that underline the strength of the pandemic housing boom. The price of an average UK home hit a record high of £254,822 in December, up nearly £24,000 over the year, according to data published ...
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UK house prices climb but outlook for market ‘extremely uncertain’
Average UK house prices defied expectations and continued to climb last month despite the phasing out of the government’s stamp duty holiday at the end of September. The continued increases mean that the price of an average home in the UK has risen above £250,000 for the first time on the building society Nationwide’s index. Other house ...
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UK house prices show strongest monthly rise since 2007
House prices registered the strongest monthly rise for 14 years in September, pushing the average cost of a home to a record high and reversing a three-month decline in annual growth. Halifax, one of the country’s biggest mortgage lenders, said last month the average cost of a home rose by 1.7%, or £4,425, to £267,587 ...
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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.
