HOUSING NEWS

House price growth subdued in March, says Nationwide…

Annual house price growth remained subdued in March, according to the Nationwide building society. The increase of 2.1% was down slightly from February’s rate of 2.2%. Nationwide said “subdued consumer confidence”and wage growth not keeping up with the rise in the cost of living had offset healthy employment gains and low borrowing costs. But it […]

Row over deposit demands on tenants…

Tenants with pets are often charged a bigger deposit MPs and landlords are at loggerheads over the acceptable level of deposits demanded of tenants in England. Deposits should be capped at five weeks’ worth of rent, according to the Housing, Communities and Local Government Committee. The government’s latest plan has been to cap the deposit […]

Moving home is ‘becoming a rarity’…

Homeowners are moving half as often as they did before the credit crunch, figures produced for the BBC suggest. Reasons include high house prices, stricter rules on getting mortgages and older people staying on in large properties. People used to move house roughly four times after their first purchase. Now it is more like twice. […]

Estate agent group Countrywide’s shares dive as profits fall…

Shares in Countrywide, the UK’s largest estate agent group, lost 20% after it warned of tough times in the market. Countrywide, whose brands include Bairstow Eves and Gascoigne Pees, made a £208.1m after-tax loss in 2017, versus a £17.5m profit in 2016. said about 150 head office jobs would go. The firm has been hit […]

Low-deposit mortgages make a comeback…

Mortgage products allowing applicants to put down a deposit of just 5% have become much more common in the past year, figures show. Some 307 such deals are now on the market in the UK, up from 253 a year ago, according to financial information service Moneyfacts. This is the first time since the 2008 […]

UK house price growth lowest for 5 years, says Halifax…

The rate of house price growth in the UK slumped to just 1.8% in the year to February, according to the country’s largest lender, the Halifax. That is the lowest rate of increase since March 2013. The Halifax said that the average price of a home has fallen from £226,408 in November, to £224,353 last […]

UK house prices fell in February, Nationwide says…

UK house prices have recorded their first month-on-month fall since August, according to the Nationwide. The building society said average UK property prices in February were 0.3% down on the previous month. This monthly change is generally regarded as a volatile measure of house prices, but the Nationwide said it reflected the wider picture. The […]

Too few homes being bought commonhold, says law body…

A way of buying flats or houses introduced 14 years ago – known as commonhold – has failed to take off, according to the Law Commission. That is despite the fact that it could provide a much better alternative for those who have leasehold agreements. Four million people in England own leasehold properties, but there […]

Reality Check: How does renting a home in the UK compare?

More young people are renting, as home ownership among people aged 25-34 has collapsed over the past two decades. As new figures revealed the scale of the decline in young middle-earners joining the property ladder, Labour announced proposals for tenants in Britain to be allowed to keep pets. This got Reality Check thinking about private renting […]

Mid-earners ‘locked out of buying a home’…

The extent to which young people are locked out of the British housing market has been revealed in new figures from economists. The biggest decline in home ownership in the last 20 years has been among middle-income 25 to 34-year-olds, the Institute for Fiscal Studies said. In 1995-96, 65% of this group owned a home, […]