Latest News
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House Prices to Climb – Savills Predicts Rise After Prior Decline Expectations
Property giant Savills now projects an increase in UK house prices this year, marking a significant reversal from their earlier prediction. Initially, Savills expected a 3% drop in the average price of a home due to increased mortgage rates instigated by hikes in the Bank of England base rate. These rate hikes had previously intensified…
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Homeowners Brace for Impact as Mortgage Rates Set to Rise
Industry experts have issued a warning that key mortgage rates might climb past the daunting 6% threshold as soon as next week. This potential increase follows a series of rate hikes by over 20 lenders this week, signaling tougher times ahead for those looking to borrow for home purchases. Several competitive mortgage deals, particularly those…
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The Latest Buy-to-Let Mortgage Rates
In recent years, landlords have enjoyed relatively low borrowing costs. However, a shift in the economic environment has led to increased mortgage rates, squeezing the profits of many property investors. There are approximately 2 million mortgaged buy-to-let properties in the UK, with around 230,000 of these deals expiring this year alone, making the decision on…
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Prime London Housing Market’s Changing Tide of Property Prices and Rentals
The latest figures from Knight Frank paint a picture of London’s property scene, which is undergoing significant shifts in both the sales and rental markets. Property owners are seizing the opportunity to sell amidst relatively high historical rents, while the balance of power may be tipping towards tenants. In prime London areas, the growth in…
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Student Housing Investments Surge in Q1 2024
Global property consultancy Knight Frank has highlighted a robust start to 2024 in the UK’s purpose-built student accommodation (PBSA) sector, with investors showing increased confidence despite broader economic uncertainty. The first quarter of 2024 saw a significant uptick in investment in student housing. Knight Frank recorded 21 transactions in the PBSA sector, totaling nearly £750…
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Flats Lead the Way as Property Prices On the Rise Again
According to the latest findings by Halifax, the UK property market has seen a significant increase in the early months of 2024, particularly in the prices of flats, which have risen faster than any other property type. This rebound comes after a period of sluggish growth, with national annual property price growth recording a modest…
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UK House Prices Edge Up Despite Mortgage Rate Woes – Halifax
UK house prices have ticked up slightly in April, according to the latest data from Halifax’s monthly House Price Index. Despite ongoing challenges with high mortgage rates, the average price of a home in the UK nudged up by 0.1% compared to March, reaching £288,949 from the previous month’s £288,781. This small increase follows a…
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Housing Hurdles – England’s New Home Targets in Jeopardy
The future of new housing developments in England is looking grim as forecasts suggest that the number of new homes could plummet to nearly half of the government’s official target. This comes at a critical time as the nation approaches a general election where housing is poised to be a central issue. For the past…
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Londoners Stick to the City – Pandemic-Driven Exodus Slows Down
The COVID-19 pandemic significantly altered the living and working patterns of millions, including the residents of London. With a rise in remote working capabilities, many Londoners seized the opportunity to move to the countryside, searching for larger living spaces and greener surroundings. However, this trend is seeing a reversal. The Return to Pre-Pandemic Levels Property…
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UK Housing Market Update – Appraisals Down But Buyer Interest Remains High
According to Propertymark’s latest Housing Insight Report, the UK housing market has seen a noticeable decline in the number of market appraisals in March, with figures dropping by 7%. Market appraisals, which are assessments made by estate agents to estimate the market value of a property, are a key indicator of housing market activity and…