According to Jamie Alexander, a mortgage broker at Alexander Southwell Mortgage Services, recent increases in mortgage rates may have been excessive. However, he expects them to be revised downwards. Ben Tadd, a broker at Lucra Mortgages, believes that lenders have already factored in the anticipated increase in the Bank Rate from 5% to 5.25% next …
In June, Nationwide reported that London house prices had experienced a 4.3% year-on-year decline, while the Outer Metropolitan region saw a 2.9% fall. According to Jamie Lennox, director of brokerage Dimora Mortgages, the ONS data may not accurately reflect the current state of the housing market. He suggests that there could be even worse news …
The typical homeowner has seen £14,000 knocked off the value of their property over the last year, according to Halifax’s latest figures. Halifax’s long running index showed house prices dropped by 4.6 per cent annually, the biggest year-on-year fall since 2009, as the mortgage spike takes its toll on the property market. Average house prices …
Do you believe that house prices near you have dropped by more than 5%? Well, you’re probably correct. It seems that house prices have been experiencing a slight decline or barely holding steady, depending on the specific measurement you examine. However, the latest data from Nationwide Building Society’s index for August has shaken things up, …
One of the largest construction companies in the UK, Crest Nicholson, has recently issued a profit warning due to the impact of high inflation and rising interest rates in the property sector. According to the warning, the company expects full-year profits to reach £50 million, falling short of analyst expectations of £73.7 million. Crest Nicholson …
The property market is experiencing a shift, according to Colin Townsend, a representative of John Goodwin Estate Agents in the West Midlands. With mortgage rates reaching a 15-year high, the average two-year rate now sits above 6.70%, as reported by Moneyfacts. First-time buyers are particularly affected by this trend, as mortgages for those with smaller …
The Bank of England has released a report outlining a worst-case scenario for the UK economy, predicting a potential 40% drop in house prices by the second half of 2025. However, this scenario is deemed highly unlikely by the bank, as it would require inflation to rise and remain above 10%. The central forecast from …
According to Ms Houston, Scotland’s reliance on public service sectors, which are not projected to grow rapidly, is hindering its economic growth. She emphasizes that the key sectors that will drive growth in the future are business services and information and communications, in which Scotland has a smaller share compared to the UK average. This …
Properties with a picturesque view or direct access to the water are highly sought after in the upper end of the market. According to Irwin, having a beautiful view can increase a property’s value by approximately 20% to 25%, while waterfront properties sell at a premium of 75% to 100% compared to similar properties further …
According to Nationwide, London house prices have experienced a 4.3% year-on-year decrease in June, while the Outer Metropolitan region has seen a 2.9% fall. However, Jamie Lennox, director of brokerage Dimora Mortgages, suggests that the ONS data may not fully capture the true state of the housing market. He believes that there may be further …