Tag: Bank of England
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UK House Prices Almost Back to 2022 Peak After Consecutive Rises
The UK’s housing market has shown impressive resilience, with house prices nearing the peak levels of June 2022 after experiencing the fifth consecutive monthly increase. According to the latest figures from Halifax, the average UK house price in February was a mere £1,800 short of the peak, showing a 0.4% rise for the month. This…
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House Prices Set to Rise – OBR
House prices in the UK are expected to rebound much quicker than anticipated, bringing a sigh of relief to homeowners and potential buyers across the nation. This optimistic forecast comes from the Office for Budget Responsibility (OBR), which credits falling interest rates for the faster-than-expected recovery. According to the OBR’s latest predictions, the downturn in…
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London Rent Prices Set to Stabilise
Foxtons has forecasted a cooling period for the sky-high rents that have burdened many Londoners. The dramatic rent increases that have characterised the past year are expected to take a backseat, with predictions pointing towards a much more stable and affordable rental market. According to Foxtons, the pressure cooker environment of tight supply coupled with…
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Chinese Developers Scale Back on UK Commercial Properties
For years, Chinese developers were among the most enthusiastic investors in the UK’s commercial property market, pouring billions into the sector. Between 2014 and 2020, they invested a whopping 12.8 billion pounds into British real estate, betting big on the UK’s economic prospects. However, recent trends have painted a different picture. According to MSCI Real…
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More First-Time Buyers Opting for Longer Mortgages
An increasing number of first-time homebuyers are committing to mortgage terms extending beyond 35 years, setting a new record as they grapple with rising borrowing costs. As the curtain fell on 2023, the property market witnessed a significant trend: nearly one in four first-time buyers chose mortgage durations that spanned over 35 years. This development…
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Interest Rate Cuts A Distant Reality, Warns Bank of England’s Chief Economist
In a recent address to Cardiff University’s Business School, the Bank of England’s Chief Economist, Huw Pill, shared insights that might have many Brits recalibrating their financial expectations. With interest rates being a hot topic for homeowners, savers, and investors alike, Pill’s analysis on the future of the UK’s monetary policy, suggests that any reduction…
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Wave Goodbye to Bargain Mortgages? Rates on the Rise as Cheap Deals Disappear
The era of sub-4% mortgage rates seems to be drawing to a close. This shift comes as mortgage providers hike up their rates on new fixed deals, bringing an end to the more affordable borrowing costs that many had been enjoying. Here’s a round up of the latest mortgage market trends, what’s driving these changes,…
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Alternative Income Reit’s 9.2% Dividend Attracting Investors
Alternative Income REIT has recently shared its interim results, which, though largely anticipated due to a previous second-quarter update, still offer some noteworthy insights for both current and prospective investors. The company, trading under the ticker AIRE and with a share price of 64.4p, has reported a slight dip in its net asset value (NAV)…
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Housing Market Sees Rising Mortgage Approvals
The UK’s housing market is showing signs of life, with mortgage approvals in January hitting their highest point since October 2022. This rise is a potential indicator of a rebounding property market. In January, the Bank of England reported a significant leap in net mortgage approvals for house purchases, rising to 55,200 from 51,500 in…
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UK Home Sales Set to Jump – Buyers and Sellers Make a Comeback
According to the latest figures from the property website Zoopla, both buyers and sellers are stepping back into the market with renewed enthusiasm. February witnessed an increase in property transactions, setting the stage for a projected 10% rise in home sales throughout the year. Zoopla’s data paints an optimistic picture of the property landscape, with…