HOUSING NEWS

Prices of flats stay unchanged for a year, says ONS…

Millions of flat owners have seen no growth at all in the value of their homes over the past year, according to the Office for National Statistics (ONS). That is the first time that has happened in six years. The main reason is that a quarter of the UK’s flats and maisonettes are in London, […]

Properties taking longer to sell in sluggish market, says RICS…

Properties in the UK are taking longer to sell than a year ago owing to the “uninspiring” housing market, according to surveyors. Last spring it typically took 16 weeks between a home being listed and being sold, the Royal Institution of Chartered Surveyors (RICS) said. Now that has risen to about 18 weeks on average, […]

UK house prices grow at slowest rate for five years…

UK house prices rose at the slowest pace since March 2013 in the year to June, according to the country’s largest lender, the Halifax. Prices increased by just 1.8%, equalling the pace of growth seen in the year to February. In the last three months, the cost of an average house or flat actually fell […]

UK housing market lull drags into summer, says Nationwide…

Annual growth in house prices fell to its slowest pace in five years as the lull in the UK housing market dragged into summer, the Nationwide said. The building society said demand from buyers was subdued, while the number of properties coming on to the market was “more of a trickle than a torrent”. UK […]

A quarter of estate agents ‘in financial distress’…

More than 7,000 UK High Street estate agents are showing signs of financial distress as they face fewer sales and online competition, a study has found. The report – from accountancy firm Moore Stephens – suggests that some 27% of agents are struggling to survive. One of the main reasons is a long-term decline in […]

Pace of house price growth slows…

House price rises in the UK slowed in the year to the end of May – increasing by 1.9%, according to a lender. The Halifax, part of Lloyds Banking Group, said that the change reflected “a relatively subdued” housing market. The cost of a typical home was now ¬£224,439, the Halifax calculated from its own […]

Housing market continues to cool…

The pace of growth for UK house prices has continued to slow, while property in London had the weakest growth since 2009, official figures showed. The capital had the lowest annual growth, where prices decreased by 0.7%. The Office for National Statistics said in a blog¬†that the decline in London can be linked to changes […]

Six pros and cons of renting a home…

Renting a room or a home from a private landlord is a reality for millions of people in the UK – but is it a positive or negative experience?   The pros 1. Flexibility One of the biggest positives for many tenants was the ability to give relatively short notice, then move to a new […]

People much less likely to move home than in 1970s…

People in England and Wales were much more likely to move home in the 1970s than in the first decade of the 2000s, says research by population experts. The study, based on census data over 40 years, shows a picture of people becoming progressively less mobile, for both renters and homeowners. Dr Ian Shuttleworth, from […]

Help for ‘mortgage prisoners’ sought by FCA…

Thousands of “mortgage prisoners” who are paying high borrowing rates but are unable to switch to better deals should be given more help, the UK’s financial regulator has said. These homeowners took out mortgages before new, stricter rules on affordability were brought in. The Financial Conduct Authority (FCA) also said about 30% of borrowers failed […]