Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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Sales market won’t see traditional ‘election dip’ claims Rightmove
For the moment the change in Government will have little impact on the home-moving plans of the public, with 95% of people saying the General Election will not affect their approach.
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Election will kill off chance of interest rate cut in June, former BoE chief says
Michael Saunders, who was a member of the Bank of England's MPC, says the General Election and inflation figure kill off any chance of a rate reduction until August.
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SHOCK DATA: Just 14% of homes sold within 30 days of listing
New figures from agent comparison site GetAgent show that in some places, like Leicester, less than one in 10 properties are sold within 30 days.
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Where is the residential property market going – up, down, or sideways?
Glentree boss Trevor Abrahmsohn says we mustn’t get confused between asking prices and real underlying values, since the former is what we call, ‘marketing froth’ and the latter is terra firma.
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Crossrail proving to be property market ‘silver bullet’
Some 34 of the 41 Crossrail stations have seen positive house price growth across their respective postcodes since it launched.
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BLOG: Skyrocketing house prices and soaring rents are Rishi’s legacy
Cornerstone Tax Chairman David Hannah says a future government must now listen to property experts and industry stakeholders to solve the housing crisis.
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Experts: Inflation falls less than expected, but enough for Rishi
Headline inflation tumbled to 2.3% in the 12 months to April – the lowest level since July 2021– as the cost-of-living crisis begins to subside.
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Interest rate cut more likely in August than next month, economists say
A majority of economists polled by Reuters believe the Bank of England and its Governor Andrew Bailey will reduce the base interest rate later in the summer.
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MORTGAGES: Lenders cut rates as hopes rise of BoE reduction
Increased expectations that the Bank of England will cut the base interest rate next month prompt lenders to reduce mortgage costs.
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Properties now taking seven months to sell, warns Rightmove
Despite a surge in asking prices driven by pent-up demand and a strong Spring season, selling still takes seven months between listing and completion.
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