Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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UK housing market now weaker than Greece’s, global index reveals
The struggling UK sales market has propelled the nation ten places down the global house price index list, Knight Frank has revealed, and has been overtaken by a list of countries unknown previously for their perky housing markets. These include Slovenia, Greece, Peru, Iceland, Chile, Romania, Bulgaria, Estonia, Slovakia, Colombia, Hungary and Latvia, all of which have seen more promising house price growth than the UK over the past 12 months. Two years ago the UK’s homes were increasing in price on average by 4.1% per annum, placing the nation at No.35 within the top 55 but since then the UK’s housing market has become increasingly subdued. The latest Knight Frank report reveals that slowing house price increases in the UK have helped the nation slip to 45th place with an annual inflation rate of 1.4%. This places us some way behind even Greece where house prices have increased by 2.4% despite its debt-ridden economy. Spare a thought for Australia. As Purplebricks found out to its cost, the property market there is in freefall and house prices are currently winding down by 5.5% a year, placing Oz last in the Knight Frank list. Slovenian boom The country with the highest…
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Estate agents are significantly over-pricing houses by up to £82,000
Analysis of nearly 90,000 transactions over past 12 months reveals huge gap between asking and final sale price in many areas of London and the South.
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Housing market set for summer revival as movers give up on Brexit ever happening
Research among home movers by moving website claims house prices will increase by 9% between now and August this year.
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Newbuild property flipping in London is ‘finished’, claims leading estate agency
Tim Hassell of Drakers says developers have got wise to huge profits some flippers make from it and this, coupled to higher Stamp Duty, has all but killed off the practice.
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High rents are drastically reducing employment mobility, claims think tank
High rents have halved the number of younger workers moving location to get a better job, says the Resolution Foundation.
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Hybrid agents will never crack the prime London market, claims buyer
Simon Barnes says expertise needed to buy and sell property in the capital's prime and super-prime streets cannot be provided by online agents.
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Housing market: gap between average asking prices and final sale price widens
Zoopla’s latest house price report shows that the gap between average asking prices to average achieved prices has increased in Q1 2019 across nearly all (16) cities...
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Surprise! Housing market stages unexpected April recovery
Latest research by UK Finance and NAEA Propertymark reveal improving activity as transactions and mortgage approvals increase.
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Millennials are already downsizing, says report
Investment manager, Hargreaves Lansdown has discovered that younger people – between 18 and 34 are now more likely to be downsizing rather than taking on larger loans to move.
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Property transactions hold steady ‘despite Brexit’ worries
Pent up demand is beginning to release as buyers get fed up waiting for the UK to leave the EU, but a lack of stock continues to dog the market.
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