HOUSING NEWS

Estate agents brace for 10pc house price fall…

Soaring mortgage rates will cause house prices to fall by 10pc over the next two years, one of Britain’s most high-profile estate agents has warned. Soaring mortgage rates will cause house prices to fall by 10pc over the next two years, one of Britain’s most high-profile estate agents has warned. A storm of inflation, rocketing […]

Mortgage lenders halt some deals after pound falls…

Some mortgage deals have been withdrawn by banks and building societies after a fall in the pound fuelled forecasts of a sharp rise in interest rates… Virgin Money and Skipton Building Society halted mortgage offers for new customers, but said submitted applications would still be processed. Halifax said it would stop mortgages with product fees. […]

Housebuilder share prices plummet following market reaction to mini budget…

The share prices of Britain’s largest housebuilders have fallen by around 5% to 6% following the market reaction to last week’s mini budget. Prices fell from Friday afternoon, following the drop in the value of the pound after Kwasi Kwarteng tax-cutting budget. Shares in Persimmon fell 6.4% from Friday afternoon to this morning. The drop […]

Stamp duty cut in bid to help house buyers…

The government has announced a cut to stamp duty, the tax paid when people buy a property in England and Northern Ireland. The threshold at which the tax falls due has been raised to £250,000 from its current £125,000 level. Meanwhile the threshold for first-time buyers has been increased from £300,000 to £425,000. The changes […]

Soaring inflation could prompt a slowdown in the property market…

House price growth cooled in August amid early signs of the housing market losing momentum amid soaring inflation and energy costs, the Nationwide said. Annual growth slowed to 10 percent in August, down from 11 percent in July, according to the lender’s latest house price index. However, prices were up 0.8 percent month-on-month, marking the 13th month […]

House sales peak in July but buyers are cautious…

More homes were sold in the UK in July than in any other month this year, official figures show, but agents say buyers are showing more caution. Cost-of-living pressures were leading some to negotiate harder for a lower price, agents said. A total of 110,970 properties were sold in the UK during the month – […]

Pace of UK house price rises slows to 11-month low, says ONS…

UK house prices rose at the slowest rate for 11 months, according to official figures, but property values were still up 7.8% in the year to June. The annual increase in the UK average house price slowed from 12.8% the previous month, the office for National Statistics (ONS) said. It reflects sharp rises in demand […]

Halifax records first house price fall in a year…

Mortgage lender says prices dropped in July and predicts slowing annual growth in wake of interest rate rise House prices fell in July for the first time in over a year, according to the latest figures from the Halifax. The mortgage lender said the average price of a home fell by 0.1%, the first drop […]

New property register aims to stop money laundering…

Oligarchs using UK property to launder illegal wealth are being targeted by a new register which has come into force… Any anonymous foreign company seeking to buy UK land or property will need to reveal the true owners. Foreign companies that refuse to disclose their true owner could face fines of up to £2,500 per […]

House prices defy expectations to hit record…

House prices hit a fresh record in June, according to Halifax, despite expectations the rising cost of living in the UK would dampen demand. The mortgage lender said the average house price reached £294,845 in June after rising by 1.8% – the steepest monthly increase since 2007. Halifax said a lack of available homes for […]