Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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MARKET: ‘Crazy’ average rent hits all-time high of £1,243 a month
HomeLet’s The Rental Index figures from July 2023 show UK average rents are continuing to rise, even in the UK’s typically cheaper regions.
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Lettings agency reveals 41% reduction in London property listings
Joint report from Savills and LSE shows rental market supply problems is causing problems most significantly for poorer renters in the capital.
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‘Reassuring resilience’ within housing market despite economic headwinds
Despite the headwinds of rising mortgage rates and inflation TwentyEA says the market is still performing well considering the economic backdrop.
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AGENT BLOG: Mortgage mayhem affecting prime market too
Knight Frank’s Tom Bill says government has created a chaotic lending market over the last 11 months that has unsettled buyers and sellers.
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Higher mortgage rates slow Covid-induced London exodus
Londoners accounted for 7.7% of all buyers outside the Capital during the first half of this year, outpacing the 2015-2019 average of 6.9%, although slightly below the 7.9% recorded in both 2021 and 2022.
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Private landlord ‘exodus’ revealed in official CGT figures – claim
Thousands of landlords are leaving the PRS as Capital Gains Tax returns show, according to a wealth management firm.
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Propertymark says ‘yes to Rightmove data’ following deal
The portal has struck a deal with Propertymark to present its local market info and training courses at the trade body's regional conferences.
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INDUSTRY REACTION: Base rate raised to 5.25%
Warnings went unheeded by Governor Andrew Bailey and Monetary Policy Committee that another rate rise would risk damaging the UK’s fragile economy.
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Housing market ‘facing 5-6% hit this year…and next’, leading agent predicts
Tom Bill at Knight Frank told the BBC the property industry is being attacked from "all sides at the moment".
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Interest rates are expected to be cranked up today – but is that the right thing to do?
Trevor Abrahmsohn says it is folly to increase interest rates today without giving the last 13 increases a chance to make their full effect felt.
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