Latest News
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ONS House Price Data – Which Areas Are Up and Which Are Down?
The most recent data from the Office for National Statistics (ONS) paints a complex picture of the UK housing market. Nationwide, there’s been a slight decrease in house prices, which is potentially good news for buyers. The average house price across the UK fell by £1,497 in September, a drop of about 0.5%. This means…
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Northern Ireland House Prices Rise 3.1%
As of the third quarter of 2023, the average house price in Northern Ireland has risen to £179,530, marking a 3.1% increase from the second quarter. This uptick is particularly noteworthy considering the broader context: a significant reduction in the number of new homes being built, according to data from the Northern Ireland Statistics and…
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ONS UK Rental Market Stats: Insights for October 2023
The Index of Private Housing Rental Prices for October 2023 has been released by the Office for National Statistics (ONS). It provides valuable insights into rental market supply and demand trends. Here’s a summary of the key findings and what they mean for investors. Rising Rental Prices Across the UK In the 12 months leading…
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ONS Reports Dip in UK House Prices
The UK property market has recently experienced a noteworthy shift, with house prices witnessing their first annual fall since April 2012, according to the latest data from the Office for National Statistics (ONS). House prices fell by 0.1% in the 12 months leading up to September. This slight decrease marks a significant change from the…
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County Durham has Most Affordable House Prices
County Durham stands out as a beacon of affordability in the current UK property market. The town of Peterlee, in particular, is leading the charge with its remarkably low house price to income ratio. This ratio is a critical metric used to assess affordability, comparing the average house prices to the average incomes in an…
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One Third of Brits are Waiting for Inheritance Before Buying Property
A study by Forbes Advisor reveals a striking trend among younger generations in the UK. A significant number of young Britons are postponing their home-buying aspirations, banking on future inheritances to fund their property investments. This reliance on inherited wealth highlights a growing concern about the feasibility of accumulating enough savings for a house deposit.…
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Edinburgh’s Commercial Property Market Surges
Edinburgh, the capital of Scotland, is currently experiencing a remarkable boom in its commercial property market. This surge is evident despite the challenging economic environment that prevails globally. According to the latest analysis by Knight Frank, a leading independent commercial property consultancy, Edinburgh’s commercial property market has already surpassed the total investment figures of the…
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Fall in Inflation Brings Hope of Lower Mortgage Rates
The UK’s inflation rate has decreased to 4.6%, a substantial drop from the 6.7% recorded in September. This reduction brings inflation to its lowest point in two years, aligning with Rishi Sunak’s goal to reduce it to below 5.4% by year-end. Sunak emphasises that inflation acts like a tax, impacting everything from grocery bills to…
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Second Charge Mortgage Lending Dips in September
According to data from the Finance & Leasing Association (FLA), there has been a noticeable downturn in second charge lending: Underlying Reasons for the Decline Fiona Hoyle, the FLA’s director of consumer & mortgage finance and inclusion, attributes this decline to a combination of factors: Loan Purpose Breakdown Despite the overall decline, the distribution of…
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Catalyst Launches Latitude Buy To Let
Catalyst’s new “Latitude Buy To Let” is a product specifically designed for landlords. Its unique appeal lies in its accommodation of scenarios often overlooked by mainstream lenders. Here’s a breakdown of its key features: Catering to Diverse Property Types Latitude Buy To Let stands out for its inclusivity of various property types, often considered complex…