HOUSING NEWS

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 […]

House price growth slowest for more than five years, Nationwide says…

British house prices rose at their slowest pace in more than five years, according to data published by mortgage lender Nationwide. Annual house prices rose 1.6% in October, down from 2% in September, the Nationwide Building Society said. Before Britain decided to leave the European Union in June 2016, house prices based on the Nationwide’s […]

Budget 2018: What do the housing measures mean?

More help for first-time buyers and plans for homes on the High Street have been announced in the Budget. Most first-time buyers of shared ownership properties will now no longer pay stamp duty, under the measures. Chancellor Philip Hammond also said that the Help to Buy scheme would end in 2023 – an extension of […]

Home-buyers take out 10% fewer mortgages…

Further evidence of the slow-down in the property market has emerged, with fewer people taking out new mortgages to buy a home. Britain’s High Street banks approved 38,505 such loans in September, a drop of 10.1% on the same month last year. It is the third month in a row that the number of approvals […]

Mortgage demand steady despite rate rise…

  A rise in the Bank rate in August had little effect on the number of mortgages advanced during the month, new figures show. The Bank of England increased its benchmark interest rate for only the second time in a decade, up from 0.5% to 0.75%. There were 38,000 new mortgages completed by home movers […]

Young people with deposits still cannot buy homes…

About 40% of young adults cannot afford to buy one of the cheapest homes in their area even with a 10% deposit,¬†according to a new research. The Institute for Fiscal Studies said house prices in England have risen by 173% over two decades. But average pay for 25-34 year-olds has grown by just 19% over […]

Shared ownership: Problems halved or doubled???

Thomas Paris says that shared ownership suited his circumstances Thomas Paris was fed up. He was living in a “horrible ground floor flat” in Bristol and paying rent to a landlord with little inclination to spruce up the one-bedroom home. “I was sick of asking for things to be done to make it an environment […]

House prices rise fastest in North West…

House prices in the North West rose the fastest in the UK compared with a year ago, according to official figures. Annual growth in property values in the region stood at 5.6% by July, the Office for National Statistics (ONS) said. The biggest fall was in London, where prices dropped by 0.7% year-on-year. However, the […]