The supply of homes for sale has hit a five year high with 20% more homes on the market versus last year, new day data from Zoopla has revealed. Compared to spring 2022, the property websites says supply has improved the most in Cornwall (+159%), North Kesteven, Lincolnshire (+155%) and…
There are promising signs for rate watchers hoping for an earlier interest rate cut, with new data pointing to a cooling economy. UK inflation has fallen to its lowest level in two and a half years, as price pressures continue to ease. The consumer prices index has dropped to 3.2%…
Estate agents would have to go back to school and achieve minimum level of qualifications as part of Labour plans to drive cowboy operators out of the housing market. Labour’s shadow housing minister Matthew Pennycook has tabled an amendment to incoming housing reforms which would require all estate agents to…
What proportion of exchanges take place on a Friday? Turns out that over the last three years, on average, the proportion of exchanges increases through the days of the week, starting from 14% on Mondays through to a high of 28% of Friday. So that sorts that. Our social media…
HSBC yesterday announced a policy change, increasing its maximum mortgage term from 35 to 40 years. The lender said the criteria changes, which covers all lending types including purchase, remortgaging and additional borrowing, will come into effect through mortgage brokers today. Customers making direct applications will be able to apply…
Ignore the negative market headlines because the UK’s property market is booming – if you know where to look. Lomond says it wants to “counterpunch” a gathering storm of negative headlines focused on the UK property sector by pointing out that its letting portfolio has increased 8%, while sales have…
A number of estate agency practices are at risk of going out of business due to the amount of time conveyancers are taking to complete property transactions, according to national law firm Dutton Gregory. The highest interest rates for 15 years have taken some heat out of the housing market,…
Mortgage lenders saw a sharp rise in the number of homeowners defaulting on their loans in the three months to the end of June, and expect significantly more borrowers to miss payments overt he next few months, owed to higher borrowing rates. The Bank of England’s Credit Conditions Survey, published…
Interest rates raised to 4.25% by Bank of England – property industry reaction
Given that the Budget yesterday was designed to boost economic growth, it was somewhat surprising that housing was completely overlooked. Not even given a mention by the chancellor Jeremy Hunt. With no fresh support for first-time buyers, a failure to provide solutions to the widening supply-demand imbalance in the market,…
Latest news and updates
The supply of homes for sale has hit a five year high with 20% more homes on the market versus last year, new day data from Zoopla has revealed. Compared to spring 2022, the property websites says supply has improved the most in Cornwall (+159%), North Kesteven, Lincolnshire (+155%) and…
There are promising signs for rate watchers hoping for an earlier interest rate cut, with new data pointing to a cooling economy. UK inflation has fallen to its lowest level in two and a half years, as price pressures continue to ease. The consumer prices index has dropped to 3.2%…
Estate agents would have to go back to school and achieve minimum level of qualifications as part of Labour plans to drive cowboy operators out of the housing market. Labour’s shadow housing minister Matthew Pennycook has tabled an amendment to incoming housing reforms which would require all estate agents to…
