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/
National growth is forecast to drop from 10% to 3-5%
UK house price growth set to slow in 2022, property experts say National growth is forecast to drop from 10% to 3-5% as higher borrowing costs dampen demand https://www.theguardian.com/money/2021/dec/28/uk-house-price-growth-2022-forecast
What will happen to house prices in 2022?
Analysts predict the boom will end next year: https://www.telegraph.co.uk/property/house-prices/will-happen-house-prices-2022/
Average of 29 buyers for every property on the market say estate agents
Average of 29 buyers for every property on the market say estate agents: https://www.independent.co.uk/money/average-of-29-buyers-for-every-property-on-the-market-say-estate-agents-b1980027.html
South East, South West, East of England and North West saw biggest rises
Four regions of the UK saw house prices grow more this year than in the two years before combined, according to the property portal Zoopla. In the South East, South West, East of England and the North East, prices have risen by £23,500, £23,000, £20,400 and £8,300 respectively in the last 12 months alone. https://www.thisismoney.co.uk/money/mortgageshome/article-10328707/The-four-UK-regions-house-prices-grew-2021.html…
London House Prices rebound!
The biggest price increases seen in London in the 12 months to October included Redbridge, where they were up 12.8 per cent, Richmond (12.5 per cent), Hammersmith & Fulham (12.4 per cent), Bexley and Westminster (both 11 per cent). https://www.standard.co.uk/homesandproperty/property-news/london-house-prices-2022-property-rebound-b972095.html
‘There’s no doubt’: House prices ‘almost certain’ to continue to rise in 2022, says expert
A PROPERTY expert has claimed house prices will “almost certainly” continue to increase in 2022 https://www.express.co.uk/life-style/property/1534377/house-prices-prediction-2022-property-market-expert-advice-exclusive
2022: Busy, but less frenetic
UK housing market forecast for 2022? Busy, but less frenetic Rightmove says strong buyer demand will carry into new year but ‘frenzied’ market of Covid pandemic to ease as more owners look to sell https://www.theguardian.com/business/2021/dec/13/uk-housing-market-forecast-for-2022-busy-but-less-frenetic
Average property price rises £20,000 in a year, with biggest increases in Wales and Northern Ireland
UK house prices rise at fastest pace in 15 years: uk-house-prices-rise-property
Officials are understood to be considering softening affordability checks
Bank of England poised to loosen mortgage lending rules Officials are understood to be considering softening affordability checks: https://www.telegraph.co.uk/business/2021/12/05/bank-england-poised-loosen-mortgage-lending-rules/
5 top tips to keep your property safe
Sign-up to a land registry property alert: 5 top tips to keep your property safe
Interest rate hikes will not dim the allure of property
Interest rate hikes will not dim the allure of property: https://www.ft.com/content/282e38aa-9041-4012-9bfd-23f263acd295
Red hot property market makes Brits the richest they have ever been
A booming property market triggered by a tax holiday and Brits demanding larger homes has made the UK the richest it has ever been. Household wealth in Britain swelled 8.4 per cent over the last year to £11.2 trillion, the highest it has ever been since the Office for National Statistics (ONS) started tracking the…
UK’s Rightmove forecasts 5% rise in property prices for 2022
Asking prices for British residential property are likely to rise by 5% next year: https://www.reuters.com/markets/europe/uks-rightmove-forecasts-5-rise-property-prices-2022-2021-12-01/
Double-digit house price growth returns as ‘buoyant’ market keeps up pace
House prices unexpectedly returned to double digit growth last month as the property market kept up its “extremely buoyant” pace, new figures show. Prices in November were 10% ahead of the same month last year, according to an index published by lender Nationwide – up slightly from 9.9% in October and beating expectations that growth…
UK set for housing boom with property market busiest ever since 2007
UK set for housing boom with property market busiest ever since 2007 https://uk.finance.yahoo.com/news/uk-house-prices-property-market-boom-000108706.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAM5geKEMyxAbpwcTeMgtLER0OM0g5JohC9a3U4Z_n4eN269_ThMU0KpXWsGz77ERug0x5vC33W-mc-dkwCXmFoYeY6jOvNnfIMwvgCnw_EbhW1aZ_DkyrQe546QHArwxJgmgiDTN2GXCTGlxHpTZbkK40zAUUEKOuIpJKpflPD_M
One in every 16 houses are being sold in the UK this year as property market booms
One in every 16 houses are being sold in the UK this year as property market booms. https://www.walesonline.co.uk/lifestyle/welsh-homes/one-every-16-houses-being-22306494
Hull ranked third in UK for best property value
https://www.hulldailymail.co.uk/news/property/hull-ranked-third-uk-best-6259843
House prices ‘to rise 25% by 2026’
House prices ‘to rise 25% by 2026’ as London bounces back from pandemic peak: https://www.standard.co.uk/homesandproperty/property-news/london-property-house-prices-bounce-back-b967819.html
First home in England to be bought with a mortgage is for sale….
First home in England to be bought with a mortgage – after its 1634 ‘riotous’ owners had blown their money on gambling – goes on the market for £2.75millon https://www.dailymail.co.uk/news/article-10239417/Cornish-property-England-obtain-mortgage-goes-market.html
Proeprty transactions fall by half in October….
https://www.ftadviser.com/mortgages/2021/11/23/property-sales-plummet-to-9-year-low/ https://www.reuters.com/markets/europe/uk-property-sales-down-52-after-rush-beat-tax-break-deadline-2021-11-23/
The 40 year mortgage has arrived….
The 40 year fixed rate mortgage has arrived: https://www.ft.com/content/bc061eca-9cc6-4cca-984d-a22389ac7c86
Interest rates could affect the housing market….
Nationwide Building Society has said there could be a “cooling” of the UK’s red-hot housing market because of rising inflation and interest rates. “There are a few things that could moderate [housing demand] a bit in the coming quarters. For example, there are not many homes on the market at the moment. That is likely…
Don’t wait until after Xmas to sell your property….
Don’t wait till after Christmas to sell your property
UK house prices climb to record high despite growth ‘likely to slow’
The average house price has hit a record high of £269,945, with figures from the Office for National Statistics (ONS) showing £28,000 has been added to the typical property price over the past year. Values increased by 11.8% over the year to September, with this up on the 10.2% annual growth recorded in August. Wales…
The north and south divide of property prices will narrow over the ext five years….
….with some regions increasing by nearly 20%…. https://www.theguardian.com/money/2021/nov/13/great-britains-north-south-house-price-divide-will-narrow-over-next-five-years
H.M.L.R. alert updates….
We believe the Land Registry should go further and have alerts set-up when searches are taken out on a Property: https://www.telegraph.co.uk/property/news/99pc-homeowners-risk-having-properties-sold/
Parents consider BTL mortgages To Help Their Children At University
Parents consider Buy To Let mortgages To Help Their Children At University: https://www.forbes.com/uk/advisor/personal-finance/2021/11/10/house-prices-updates/
The Royal Institution of Chartered Surveyors: House Prices increase again in October post SDLT exemptions
The Royal Institution of Chartered Surveyors: House Prices increase again in October post SDLT exemptions: UK house prices soar again, fuelled by dearth of sellers: RICS
Landlords may have to write off cc. £7bn in Covid-driven arrears
Commercial landlords have missed out on more than £7bn in unpaid rent during the pandemic and have been told they will be expected to write off any Covid-related rent arrears if tenants are struggling to pay. Protection against eviction runs out next March and the government has set out new laws for how landlords and…