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…
UK property asking prices jump at fastest monthly pace on record
The price of property coming to market increased by 2.3% in February, equating to £7,785, according to Rightmove’s latest House Price Index. https://www.independent.co.uk/news/business/uk-house-prices-property-b2019518.html
London housing market boosted by end of COVID restrictions
https://www.reuters.com/world/uk/london-housing-market-boosted-by-end-covid-rules-rightmove-says-2022-02-21/
demand exceeds supply
Asking prices for UK homes show record rise, as demand exceeds supply https://www.theguardian.com/money/2022/feb/21/asking-prices-for-uk-homes-show-record-rise-as-demand-exceeds-supply
Average house price climbs £27,000 in 2021
UK House Price Index reveals £27,000 annual increase The latest house price data published by HM Land Registry (HMLR) for December 2021 show that average house prices in the UK increased by 10.8% in the year to December 2021, up from 10.7% in the year to November 2021. The average UK house price was £275,000 in…
Rents rise at quickest pace in thirteen years…..
Rents rise at quickest pace in 13 years https://on.ft.com/3rzz8e7
Britons are going to have to spend upwards of £100bn improving their homes
Britons are going to have to spend upwards of £100bn improving their homes if they are to meet the government’s energy efficiency regulations, analysts have estimated. https://citywire.com/funds-insider/news/monday-papers-households-face-big-bills-for-green-upgrades/a2378764
UK property market set for ‘record breaking’ year – homeowner’s profits predicted to rise
https://www.express.co.uk/life-style/property/1560004/house-prices-uk-2022-homeowner-profit-predictions-exclusive
One in five Britons plans to buy a property in 2022
An independent survey of 2,000 UK adults, conducted by Market Financial Solutions, has found that one in five adults plan to buy a property in 2022 – equating to around 9 million people. One in five Britons plans to buy a property in 2022
Thousands of landlords may face bills of up to £15,000….
Thousands of landlords may face bills of up to £15,000…. https://www.telegraph.co.uk/property/buy-to-let/landlords-hit-15000-bills-levelling-plans/
U.K. Housing market sees strongest start to the year since 2005
Housing demand has remained robust. Mortgage approvals for house purchase have continued to run slightly above pre-pandemic levels despite the surge in activity in 2021: https://www.theguardian.com/business/2022/feb/01/uk-housing-market-strongest-start-average-price-nationwide
London House prices reach an all time high.
https://www.standard.co.uk/homesandproperty/property-news/london-house-prices-high-inflation-interest-rates-b977543.html
Buyer enquiries rise by 15%
RIGHTMOVE has said the number of potential buyers enquiring about homes is up 15 percent on this time last year.
UK Property Asking Prices Increase at Quickest Pace Since 2016
UK Property Asking Prices Increase at Quickest Pace Since 2016. https://www.bloomberg.com/news/articles/2022-01-17/u-k-property-asking-prices-increase-at-quickest-pace-since-2016
UK property market sees ‘busiest ever’ start to a new year
UK property market sees ‘busiest ever’ start to a new year – with record number of people wanting to move homes: https://www.manchestereveningnews.co.uk/news/property/uk-property-market-sees-busiest-22773238 https://www.manchestereveningnews.co.uk/news/property/uk-property-market-sees-busiest-22773238
Government eco red tape will wipe thousands off house prices
Homebuyers are unaware of the costs of upgrades looming ahead People are sleepwalking into buying properties that could soon plunge in value or become unsaleable due to looming eco red tape. Experts have warned that buyers purchasing homes today are largely unaware of the fact that the Government’s net zero targets… https://www.telegraph.co.uk/property/uk/government-eco-red-tape-will-wipe-thousands-house-prices/
Top 25 UK areas for buy-to-let:
https://www.express.co.uk/life-style/property/1544827/property-best-worst-buy-to-let-areas-postcodes-UK-2022 And the top 20 are: 1. Nottingham, NG7 2. Nottingham, NG1 3. Bradford, BD1 4. Manchester, M14 5. Newcastle Upon Tyne, NE6 6. Yorkshire, YO10 7. Swansea, SA1 8. Cardiff, CF37 9. Southampton, SO17 10. Yorkshire, YO31 11. Norwich, NR5 12. Sunderland, SR1 13. Leeds, LS2 14. Leeds, LS4 15. Cardiff, CF24 16.…
UK house sales to first-time buyers reach highest for 19 years
The number of buyers taking their first step on the property ladder was at its highest level in 15 years in 2021. https://www.theguardian.com/money/2022/jan/04/uk-house-sales-first-time-buyers-highest-nearly-20-years
Interest-only mortgages on rental properties are the key to financial freedom
Buy-to-let properties will allow me to retire a millionaire in 2023: https://www.telegraph.co.uk/money/consumer-affairs/buy-to-let-properties-will-allow-retire-millionaire-2023/