Record Rents
Record rents of more than £1,000 a month and the average house price breaking through the £260,000 barrier: https://www.theguardian.com/money/2022/mar/05/record-rents-house-prices-uk-households
Half of Homes sell within 3 weeks…
Properties are selling within three weeks of being listed: https://www.telegraph.co.uk/property/house-prices/half-homes-sell-within-three-weeks-frenzied-property-market/
House Price Boom for February
This is the seventh consecutive month of property price growth: House price boom despite inflation concerns
Mortgage approvals hit highest rate since last Summer
Mortgage approvals hit highest rate since last Summer Mortgage approvals highest since the summer as cost of living crunch looms
Bank of England to review ‘Affordability Test’ for Mortgages
The FPC noted some concerns with how the affordability test has operated. In particular, the stress rate encapsulated in the test has remained broadly static, reflecting stickiness in reversion rates despite the fall in average quoted mortgage rates. This demonstrates that there is considerable uncertainty about how the stress rate encapsulated in the affordability test…