Tag: Bank of England
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RICS – UK Estate Agents are Most Pessimistic in 14 Years
One of the most striking observations about the UK property market in August was the notable decline in both house prices and sales. According to a report by the Royal Institution of Chartered Surveyors (RICS), house sales and prices experienced a substantial drop during this period. This downturn can be attributed primarily to the impact…
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Expert Says Buy to Let Still a Good Investment
In a property landscape marked by tax reforms, regulatory changes, and fluctuating mortgage rates, the buy-to-let market stands as a compelling investment option, offering investors the promise of stable long-term returns. That’s the view of Nicky Stevenson, Managing Director of Fine & Country. A Surge in Tenant Demand Despite the hurdles faced by buy-to-let landlords…
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More Mortgage Lenders Slash Rates
The UK mortgage market is experiencing a significant shake-up as high street lenders announce further reductions in mortgage rates. High street lenders have recently unveiled substantial reductions in UK mortgage rates. This news follows comments made by Bank of England Governor Andrew Bailey, who hinted that the UK might not see further rate hikes. Here’s…
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Surge in UK Mortgage Arrears
The UK property market is experiencing a significant shift, with the value of residential mortgages in arrears reaching a seven-year high in the second quarter of 2023. At the same time, mortgage loans have witnessed their most substantial drop in history, according to official data published by the Bank of England. In this article, we…
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BoE Ratesetter Says More Interest Rate Rises Needed
Catherine Mann is not just any policy maker, she’s one of the Bank of England’s rate-setters. To understand the significance of her recent statements, it’s essential to know her stance on monetary policy. Historically, Mann has been one of the more hawkish policymakers, which means she generally supports higher interest rates to control inflation. Furthermore,…
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Landlords Worse Off Despite Rising Rents
As the property market in the UK continues to evolve, potential property investors must be aware of the changing dynamics that could impact their profits. Rising rents have been a significant concern for both landlords and tenants alike, and recent reports suggest that this trend is set to continue. Despite the projected increase in rental…
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Property Experts’ Price Predictions
The Express spoke to several UK property experts to get their thoughts on where the market is heading. The UK housing market has experienced a tumultuous year, with soaring mortgage rates and high living costs creating uncertainties for buyers and sellers. However, there may be hope on the horizon as experts predict that 2024 could…
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Government Won’t be Helping House Prices
Experts predict delay in real-terms growth in property prices, with government unlikely to intervene to boost prices in upcoming Autumn Statement Property prices in the UK are expected to experience real-terms growth in two or more years, as higher mortgage rates and cost of living pressures continue to drive down property values. The latest data…
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Rents Will Rise 5x Faster than House Prices
Hamptons, a leading estate agent group, forecasts that rents will increase by nearly five times more than house prices by 2026. It predicts a 25% rise in rents between 2023 and 2026, outpacing the average 5.5% growth in house prices during the same period. Rising Rents and Falling House Prices The increase in rents is…
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UK House Building to Slump by 21% as Rate Rises Bite
The housing market in the UK is set to face a significant slump this year, with a report from PwC indicating that house building will fall by 21.1%. This decline is due to the combined effect of rising interest rates and the broader squeeze on the cost of living, which is weakening demand in the…