Tag: Bank of England
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House Prices Down 3.3% But North East Sees Glimmer of Hope – esurv
House prices have dropped compared to last year, but there are signs things may be looking up in some parts of the country. The average price tag on a house in England and Wales is now £356,014. That’s according to the latest figures from property experts e.surv, who say prices have dipped by 0.2% in…
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House Prices Stuck As Experts Predict Summer Slowdown
Good news for first-time buyers? House prices have stalled and look set to flatline for the rest of the summer, according to the latest figures from property website Home.co.uk The average asking price for a property in England and Wales is currently just 0.5% higher than it was a year ago, with prices in some…
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Berkeley Group Profits Take a Hit
The property market is cooling, and it’s hitting the big players hard. Berkeley Group, the luxury homebuilder, is expected to see profits drop by almost 10% in the year ending April, following a slump in sales. Sales Slowdown – Blame the Interest Rates The news comes as no surprise to anyone following the housing market.…
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House Prices Stuck as Experts Warn of Too Many Homes for Sale!
Is the dream of selling your home and cashing in on a booming market over? That’s the warning from property experts, who say there are now too many houses up for grabs and not enough buyers. Despite some positive signs for the market recently, with inflation easing and hopes of interest rate cuts on the…
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Two-Year Fix vs. Five-Year Fix – The Mortgage Showdown!
Homeowners and buyers are facing a tough decision: should they lock in a mortgage rate for two years or five? Last year, most people went for two-year fixes, betting on rates dropping quickly. But now, with rates expected to stay higher for longer, five-year fixes are looking more tempting. What’s Going On With Mortgage Rates?…
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Mortgage Rates Rise Again – What are the Best Offers This Week?
Homebuyers are finding it harder than ever to secure a good mortgage deal. Rates have climbed again this week, making it even more difficult for buyers to get on the property ladder. The average two-year fixed rate mortgage now stands at 5.99%, up from 4.89% last week. Five-year fixed deals are also up, sitting at…
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House Prices Fall, But North-South Divide Widens – esurv
Hold onto your hats folks, because the housing market is still a bit of a rollercoaster ride! The average house price in England and Wales has gone down a little, by 0.2% in May to £356,014. That means it’s £600 cheaper than the month before. But don’t get too excited, because that’s still 3.3% lower…
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Mortgage Woes – Brits Are Struggling To Keep Up With Payments
The Bank of England has revealed that more and more homeowners are falling behind on their mortgage payments, with the number of Brits struggling to pay reaching its highest level in almost a decade. The value of mortgage balances with arrears jumped by a whopping 44.5% in the first three months of 2024 compared to…
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Barclays Hike Mortgage Rates – Your Home Loan Could Get More Expensive
It’s bad news for anyone looking to buy a house or remortgage, as Barclays has announced it’s increasing the cost of some fixed-rate mortgage deals. This means your monthly repayments could be higher, adding to the pressure on household budgets. The reason for the hike is a change in the market. Banks are charging each…
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Property Hotspots – Is Leeds The Next Big Thing?
Forget London, it’s Leeds that’s got everyone talking about property, according to the Yorkshire Evening Post. They say that this city is quickly becoming the hottest spot for investors in the North of England. Leeds is packed with culture, buzzing with jobs, and has a booming nightlife. It’s got everything you’d want in a city,…