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%, [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
The current housing boom will flatten in 2022—or possibly early 2023—when mortgage interest rates rise. There is no bubble to burst, though prices may retreat from panic-buying highs. The boom produced some frantic buying, bids in excess of asking prices, and plenty of worry among would-be homeowners. But this has not been [...]
