Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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Interest rate held again at 5.25%
The Bank of England has decided to keep the base rate at the same level for the second review in a row.
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Goodlord reveals 11% drop in rents as summer heat finally leaves market
Goodlord boss William Reeve says average October rents on new tenancies reverted back to levels last seen in May and June 2023 at £1,189.
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House sales slump 17% in September as cost of living continues to bite
Estate agents and housing experts say would-be buyers are struggling to save for deposits and are worried about finances.
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UK is top target for Middle East property investors
Property investors from Arab countries see London and other major UK cities as some of the best locations in the world.
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Mortgage approvals fall to lowest level since start of the year
Bank of England says that this was the third consecutive month that mortgage approvals have fallen while remortgaging is at its lowest since 1999.
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‘General Election countdown has already begun for housing market’
Knight Frank’s Tom Bill says pressure for politicians to support buyers, back stamp duty cuts and modify theRenters (Reform) Bill is increasing.
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House prices dropping at most dramatic rate for a decade
Largest house price falls are concentrated in Southern England towns including Colchester (-3.5%), Canterbury (-3.4%) and Luton (-3.3%).
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Nose diving house prices drive landlords’ expansion plans
Most intending to buy are portfolio landlords with 44% owning 11 or more properties and a quarter of those have between four and 10 properties.
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Industry ‘in limbo’ after ‘half-baked reforms’ says inventory chief
Inventory chief Daniel Evans says the Renters (Reform) Bill is a "half-baked cake" which breeds uncertainty.
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Yopa first estate agency to launch daft Halloween ‘research’
Yopa boss Verona Frankish says a 10% asking price reduction could be a compromise if you find yourself selling a scary home.
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