Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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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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First-time buyers paying 191% more than parents did in 1990s
My Home Move Conveyancing Director, Alistair Singer, says average earnings-to-house-price ratio has more than doubled from 4.0 to 8.1 adding more pressure than ever on those looking to start their home-owning journey.
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MARKET: Here’s where homes are cheaper to buy than rent, says Zoopla
Across the UK a third of homes for sale are cheaper to buy than rent, with the average first-time buyer saving £93 a month on a mortgage instead of renting.
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Estate agents, your next first time buyer could be over 50!
Earlier this week, new data from the Bank of England revealed that the last quarter of 2021 nearly a third of mortgages had an end date beyond the state pension age.
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