Housing Market
News covering issues affecting the UK residential property market, house prices, interest rates and buying and selling trends.
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BoE under pressure to cut interest rates this week
Mortgage costs continue to climb adding to the calls for the Bank of England and its Governor Andrew Bailey to cut the base rate when it announces its latest decision on Thursday.
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Huge North-South mortgage divide revealed among first time buyers
The state of the economy, mortgage availability, upfront costs and varying house prices across the UK are impacting affordability and financing options for first-time buyers.
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Property sales market is recovering strongly say estate agency bosses
Spicerhaart's CEO and others report strong demand for both appointments, bookings and valuations within estate agency branches.
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Agency reveals where Help to Buy withdrawal is hitting hardest
Since 2013 Help to Buy helped 387,195 first-time buyers onto the property ladder, allowing them to purchase properties to the tune of £24.7 billion. But no longer.
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Public wants UK’s 1.5m derelict empty homes revived
As of 2023 there were homes worth £532 billion standing empty across England and Wales, with Westminster the worst offender with nearly 36,000 vacant homes.
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Estate agency comparison platform warns industry over pricing
Across England 34% of for-sale stock, excluding homes already marked as sold subject to contract, had seen an asking price reduction since being listed.
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‘Burning’ Giant Hogweed named as next big threat to properties
Like Japanese Knotweed and Himalayan Balsam, Giant Hogweed was brought to the UK as an horticultural oddity but now it has escaped and grows into dense colonies.
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Smaller homes’ prices rise as first-time buyers compete
Smaller homes have recorded the strongest increases as first-time buyers battle higher mortgage costs and the cost-of-living, accounting for 53% of all homes bought with a mortgage in 2023 – the highest proportion since 1995.
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‘It’s time to mandate a universal conveyancing system’ says CILEX
Comments are made by organisation which represents thousands of conveyancers, in its submission to a parliamentary probe into process.
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LSL spends £7 million buying back stock off shareholders
Announcement is made as group reports profit 74% lower than the year before, but it was was still way ahead of analyst forecasts.
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