Tag: Bank of England
-
Welsh Housing Market Takes a Dip – Prices and Sales Decline
The Welsh housing market has experienced yet another decline. According to the latest data from the Principality Building Society, house prices in Wales have fallen for the fifth consecutive quarter. As of March 2024, the average house price stands at £229,263, marking a significant 6.5% decrease from the previous year. The downturn in housing prices…
-
UK Housing Market Nears Record Highs and Large Properties Surge
April has witnessed a significant increase in the asking prices for homes in the UK, approaching levels close to the highest ever recorded. This trend is predominantly fueled by the demand for larger properties, indicating a robust recovery phase in the housing market. Despite the fluctuations experienced in mortgage rates, the allure of spacious, detached…
-
Where Are the Best Deals This Week?
As we move through another week, the average mortgage rates remain stable. The typical rate for a two-year fixed deal stands at 5.74%, and for those looking at longer-term security, a five-year deal averages around 5.24%. These figures come courtesy of Uswitch, indicating a steady market surface but underlying volatility. Despite the Bank of England…
-
London’s Property Plight – House Prices Take a Dive In Affordability Crunch
London’s housing market has been underperforming compared to the rest of the UK for the last eight years, primarily due to sky-high property costs and shifting housing trends post-COVID. The latest figures from February 2024 paint a grim picture, showing a 4.8% decline in house prices from the previous year. This stark downturn is in…
-
Inflation’s Stubborn Grip – UK Rate Cut Hopes Dim
During March, the UK’s inflation rate, as measured by the Consumer Price Index (CPI), saw a slight decrease to 3.2% from February’s 3.4%. Despite this decline, the figure came in above what many economists had predicted, stirring concerns that inflation remains too ‘sticky’ for comfort. This persistent high level suggests that the Bank of England…
-
ONS House Prices – February 2024
According to the latest data from the Office for National Statistics (ONS), while the average UK house price saw a minor increase of 0.4% between January and February 2024, it remained 0.2% lower compared to the same period last year. This positions the average house price at £281,262 in February 2024, showing a slight rise…
-
How to Deal With the Challenging Housing Market – A Veteran Reporter’s Guide
Understanding how to go about purchasing a home, particularly in a tricky market, is more crucial than ever. With over two decades of experience covering property, Inews’ property expert has witnessed numerous fluctuations in the housing market. The last two years, however, have presented some of the most challenging conditions for prospective home buyers. The…
-
Mortgage News – A Mix of Rate Cuts and Hikes
Homeowners and buyers are facing a mix of opportunities and challenges in the mortgage market. Recent announcements from major banks show a shift in mortgage rates, with some institutions cutting rates to attract customers, while others increase fees, adjusting to market conditions. Here’s a breakdown of the latest changes and what they could mean for…
-
UK Mortgages – Will Rising US Inflation Push Rates Higher?
The latest wave of economic data from the United States has sent ripples of concern through financial markets worldwide, including here in the UK. On Wednesday, the US reported inflation rates that exceeded forecasts, unsettling investors and raising questions about the future of global interest rates. Earlier this year, UK homeowners experienced a slight relief…
-
YBS Commercial Mortgages Rolls Out Innovative Tracker for Landlords
YBS Commercial Mortgages has recently launched a tracker mortgage product specifically tailored for portfolio landlords. This launch comes hand-in-hand with significant rate reductions across its extensive range of mortgage offerings. YBS Commercial Mortgages is offering a fresh tracker product that comes with a variable interest rate of 6.75%, which equates to the Bank of England…