HOUSING NEWS

House prices ‘rebounded in April’…

UK house prices picked up in April following a fall in values the previous month, according to the country’s biggest mortgage lender. The Halifax, part of Lloyds Banking Group, said property values rose by 1.1% in April compared with March when prices fell 1.25%. The annual rate of growth almost doubled with house prices up […]

Home owners making second step up ladder face £135,000 price gap…

Home owners trying to take their second step on the property ladder face a typical price gap of more than £135,000 to make the leap, a report has found. The Lloyds Bank Second Stepper report found people who have previously been first-time buyers who are now looking to trade up typically live in a home […]

First house price fall in England since 2012…

House prices are lower in England compared with a year ago – the first annual fall in property values since 2012, according to the Nationwide. In the first three months of the year, prices in England were down 0.7% from the same period in 2018. But the building society said that annual house price rises […]

UK house price growth subdued in March…

Annual house price growth remained soft at 0.7% in March, according to Nationwide. The average price of properties was £213,102, compared to £211,304 in February. London remained the weakest performing region, with prices 3.8% lower than the same period in the previous year. It also marked the seventh consecutive quarter where prices have been in […]

Home leasehold system needs reform, say MPs…

The UK’s leasehold system has left a number of householders in unsellable and un-mortgageable homes and changes are needed, a committee of MPs says. Often leaseholders in new-build properties are treated as a source of profit, the Housing, Communities and Local Government Committee (HCLG) says. It says the Competition and Markets Authority (CMA) should investigate […]

Brexit uncertainty ‘holds back house moves’…

Buyers and sellers are “sitting tight” as Brexit uncertainty continues to freeze the UK property market, surveyors have said. Some 77% of members asked by the Royal Institution of Chartered Surveyors (RICS) said that the Brexit impasse was holding back activity. New buyer enquiries, sales, and homes being put on the market all fell in […]

House price growth ‘remains sluggish’ February…

House price growth remained “sluggish” in February, according to the Nationwide Building Society’s latest survey of the property market. The lender said prices were up by 0.4% compared with a year earlier, which was a faster pace than January’s rate of 0.1%. The Nationwide said that prices in February dipped by 0.1% compared with a […]

Most mortgages go to first-time buyers, Halifax research shows…

First-time buyers now make up the majority of home purchases bought with a mortgage in the UK, figures show. The Halifax bank said the last time such a situation existed was 1995. Its research found Pendle in Lancashire and Copeland in Cumbria were the most affordable areas, with homes costing 2.6 times local earnings on […]

Price of flats fell in England last year, says Land Registry…

Buying a flat or maisonette in England is cheaper than a year ago, according to official figures, with the cost of semi-detached homes rising fastest. First-time buyers have been buying later in life and a number of buy-to-let investors have pulled out of the market owing to tax changes. This may partially account for the […]