Tag: OnTheMarket
-
October’s Surge in Mortgage Approvals
In October, the UK witnessed a significant increase in mortgage approvals, surpassing forecasts. The Bank of England reported that net mortgage approvals for house purchases climbed to 47,400 from September’s 43,700. This figure not only exceeded the anticipated 45,000 but also marked the highest point since July. Despite this uptick, it’s important to note that…
-
Rightmove’s Revenue Surge Despite Challenging Market Conditions
Rightmove’s revenue has seen a significant uptick, primarily driven by an increase in the average revenue per advertiser (ARPA). ARPA is a crucial metric for Rightmove, reflecting the average earnings generated from each advertiser on its platform. Key Financial Metrics: Factors Contributing to Revenue Growth Despite the slowdown in the UK housing market, influenced by…
-
Uncovering the Robust World of UK Property Services Shares
The property market can be a roller coaster of ups and downs, yet there’s a sector that often gets overlooked despite its significant influence and unique resilience: the real estate services sector. Investors Chronicle looked into the UK’s £23.4 billion-worth property services industry to see why it’s a sector worth watching, especially if you’re thinking…
-
Property Industry Reactions to Fall in Transactions
Recent data from HM Revenue & Customs (HMRC) has provided a fresh perspective on the state of property transactions. Experts Weigh In Industry professionals have provided various interpretations of this data to PropertyIndustryEye. Let’s explore some insights: The Balance of Transactions Anthony Codling of Twindig observed that the housing transactions have remained stable since June.…
-
Homes Take Longer to Sell, Yet Determined Buyers Push Forward
Statistics reveal a notable decline in the pace of property sales. Only 37% of listings went under offer within a month of being advertised in September 2023, a significant dip from 53% during the same period last year, according to OnTheMarket’s (OTM) latest Sentiment Index. Despite this slowdown, the market isn’t at a standstill. Active…
-
Experts React to Latest House Price Index
The latest house price index data from Nationwide highlights some of the critical developments shaping the market and provides insight for both prospective investors and regular property buyers. Property Industry Eye got the reactions of some industry experts. A Snapshot of The Current Market September saw a noticeable decline in UK house prices, as reported…
-
UK Property: What Investors are Feeling Right Now
In the rapidly shifting world of UK property investment, understanding the mindset of potential investors can be as valuable as the hard statistics themselves. The ever-evolving dynamics of the UK housing market are not only guided by price changes and transaction volumes but also by the sentiment and confidence of the market players. On The…
-
ONS House Prices – Expert Reactions
The Office for National Statistics (ONS) revealed their latest House Price Index yesterday. Property Industry Eye has a round-up of experts’ reactions to the latest figures. The ONS data showed: It’s essential to understand that the ONS’s house price data relies heavily on Land Registry data. Since this index depends on the average sold price…
-
House Buyers are “Hypersensitive on Price”
Buyers in today’s market are discerning. The recent OnTheMarket Property Sentiment Index highlights a remarkable shift in buyer behavior. Evidently, buyers are extremely attuned to pricing. This isn’t surprising, especially given the economic backdrop. With an impressive 14 consecutive interest rate hikes and growing concerns about living expenses, potential homeowners are treading with caution. To…
-
Reactions to Latest House Price Report
The UK property market has experienced its sharpest annual fall in house prices in 14 years, according to data released by Halifax. The average property price in August 2022 fell by 4.6% compared to the same month in 2021, marking the largest year-on-year decline since 2009. This drop means that the typical UK home is…