Around 367,038 first-time buyers secured mortgages in 2018, up from 362,800 in 2017, according to figures released by Yorkshire Building Society. The analysis indicated that the number of first-time buyer mortgages exceeded 2007 levels, when 359,900 first-time buyers took out mortgages. It was almost double the 193,300 seen in 2008, when the financial crisis impacted […]
Mynest
Falling house prices hit London suburbs…
Annual house price growth across the UK slowed to its weakest levels in over five years in October, official figures show. And for the first time since 2011, annual house price falls have now rippled out into the London suburbs – following a falling trend already seen across central London this year. Average house prices […]
Brexit gloom to hit housing market into 2019, says RICS…
Surveyors like Mark Hunter say Brexit will affect confidence for a while to come Uncertainty and gloom about Brexit are likely to hit the UK housing market well into next year, surveyors believe. The latest report from the Royal Institution of Chartered Surveyors (RICS) predicts that the number of homes being sold – and their […]
UK house price rise ‘slowest for six years’…
Annual growth in UK house prices slowed to its lowest rate for six years with property values barely changed from a year ago, a major lender has said. The Halifax, part of Lloyds Banking Group – the UK’s biggest mortgage lender, said prices rose by 0.3% in November compared with a year earlier. House prices […]
More customers in long-term mortgage arrears than during financial crisis – FCA
Risks are highest for borrowers already on higher interest rates, such as those in the second charge mortgage sector, according to Jonathan Davidson, the regulator’s executive director of supervision, retail and authorisation. The FCA found lenders are not always properly assessing whether payment plans for customers in long-term arrears are affordable, which could erode equity […]
‘Subdued’ demand from house buyers…
Uncertainty in the economy, as well as a squeeze on household budgets, is keeping potential buyers out of the housing market, a lender has said. The Nationwide Building Society said that demand from buyers was “subdued” and unlikely to pick up soon. UK house prices had risen by 1.9% in the year to November, it […]
Properties ‘taking longer to sell’…
Properties are taking longer to sell than a year age, analysis suggests, at an average of more than three months in urban areas of the UK. Homes in cities and major towns were on the market for 102 days on average before being sold or put under offer. This was six days longer than in […]
Mortgage lending slows ahead of Brexit…
Mortgage lending slows ahead of Brexit…
House prices ‘to fall’ next year if no Brexit deal…
House prices in the UK could fall in 2019 if the government fails to reach a Brexit deal, one senior economist has said. Howard Archer, chief economic adviser to the EY ITEM Club, said he expected prices to fall “modestly” if there is no agreement with Brussels. However, a negotiated deal could see prices rise […]
North-South house price divide ‘to narrow’…
The North-South divide in house prices will narrow in the next five years as property values in northern England rise by a fifth, a report suggests. Estate agent Savills has predicted that British house prices will rise in line with average incomes from 2019 to 2024. But house price growth will range from 21.6% in […]