HOUSING NEWS

London house prices have fallen for the first time in eight years, the Nationwide says, dropping 0.6% year-on-year in September. Across the UK, annual price growth slowed to 2%, down from 2.1% in August. That is the slowest rate of increase since June 2013, according to the Nationwide measure. The building society said that London […]

Young people are also living in smaller spaces, says the report Young people in Britain are spending three times more on housing than their grandparents did, according to the Resolution Foundation think tank. They also have to cope with less space and longer commutes to get to work. While their parents typically bought their own […]

The Chartered Institute of Housing (CIH) has called for a housing budget review after government figures showed a huge drop in the number of “genuinely affordable” homes built in England. The number of properties built for social renters per year has fallen from 36,000 to just over 1,000 since 2010. Almost 80% of the current […]

Better-off areas asked to build up to 40% more homes

Rent rises ahead as landlords pull out of UK housing, says RICS

More than half of Britain has seen wages rise faster than house prices in the last 10 years, research by a mortgage lender has suggested. Edinburgh and Birmingham are among the 54% of areas where pay has outpaced property prices since 2007, the Yorkshire Building Society found. Yet the gap between wages and house prices […]

Are you young-ish, single and thoroughly fed up with paying a high level of rent for a room in a house, miles away from where you work? Perhaps you would prefer instead to spend up to £1,100 a month to rent a very small studio flat in a city centre? By very small, we mean […]

A mortgage lender has suggested that “some buoyancy” is returning to the UK housing market as it reported property price rises. The Halifax, part of Lloyds Banking Group, said the average UK home cost £222,293 in August, a 1.1% increase on the previous month. The high level of people in work had added to demand, […]

Housebuilder Bovis says it will have fixed the problems with its faulty homes by the end of 2017. In it’s half-year results statement the firm said it had identified the issues and they were “all very fixable”. Some Bovis customers had complained about homes being sold unfinished, and had reported plumbing and electrical faults in […]

House price growth slowed to 2.1% in August, from 2.9% in July, amid fears Brexit-fuelled inflation is placing pressure on household spending, says the Nationwide. Property values fell for the first time since May, down 0.1% month-on-month to an average of £210,495. The number of mortgages approved for house purchases fell to a nine-month low […]