This month’s Rightmove House Price Index reports a new record in asking prices of newly marketed property for the third consecutive month as steady monthly increases continue with a 0.4% (+£1,364) rise. The Spring market concludes with stronger number of sales agreed overall in May, just 2.0% down on May 2017 and up 5.4% on May 2016. Continue reading “Dwindling Stock in the North Create Record Prices”
The strong appetite from home movers continues as we progress further into 2018, this is according to the latest Rightmove House Price Index. They report that the asking price of newly marketed property has jumped 1.5% in March (+£4,503) following strong demand in the first two months of the year. First-time and second-stepper sectors hit all-time price highs of £189,840 and £272,031 and overall average prices also hit new record in four out of eleven regions. Continue reading “Asking Price Jump by 1.5%”
The latest report from Rightmove has some encouraging news with announcement of their highest ever monthly visitors reaching 141 million in January and these visitors spent some 1.1 billion minutes on the site. The price of property coming to the market was up by an average of 0.8% (+£2,414) with all regions also showing price rises, except for a marginal fall of £131 in the South West. The Midlands dominates fast selling hotspots with prices rising three times faster than the national average. Continue reading “Record Visitors to Rightmove in January”
The latest RICS UK Residential Market Survey for October 2017 reports a softening of demand on a national level with most regions displaying a flat to negative trend in the latest results. Meanwhile, forward looking indicators are suggesting momentum is likely to remain subdued, at least in the near term.
The report goes on to say that their “respondents in London continue to report downward pressure on prices, similarly, the price gauge remains negative in the South East (albeit to a significantly lesser extent than in the capital), whilst the areas of East Anglia and the North East also returned readings below zero. Continue reading “RICS Survey More Pesimistic About State of Market”
This week we have seen the first interest rise from the Bank of England in a decade but, of course, this came as no surprise and takes us back to where we were 18 months ago. Consequently, the 0.25% increase was greeted calmly by the markets but this is will be the start of an upward trend that Savills predict will mean incremental rises of up to 2.5% over the next five years. Continue reading “Reactions to Bank of England Interest Rate Increase”
The finals will take place on the 8th and 9th September at the prestigious Belfry Golf course, synonymous for its rich tournament history including hosting of the Ryder Cup. Continue reading “Calmez QS in American Golf Final”
Despite many claims of a quietening property market we seem to be continuing to be very busy with demands for both mezzanine funding and stretch funding, so what is happening to the market and house price growth?
The Halifax House Price Index for July reports an easing of annual house price growth to 2.6%. Martin Ellis, Halifax housing economist, said: “House prices have flattened over the past three months. Overall, prices in the three months to June were marginally lower than in the preceding three months. The annual rate of growth has fallen, to 2.6%; the lowest rate since May 2013. Continue reading “House Price Growth at Lowest Rate Since May 2013”
Property developers registering for Help to Buy is proving an important marketing tool with over one million people being reported as having used this government initiative to buy a new home.
What is Help to Buy?
There are three Help to Buy schemes, namely; Help to Buy ISA which provides first-time buyers with £50 for every £200 saved and a maximum bonus on a property completion of £3,000; Help to Buy Equity Loan where 20% of the cost of a new home is provided by the scheme with the buyer having to put in a minimum of just 5% and London Help to Buy that provides an equity loan of up to 40% with buyers putting in 5%. Continue reading “Property Developers Registering for Help to Buy”
The latest UK House Price Index from the Office of National Statistics shows that average house prices in the UK have increased by 5.8% in the year to February 2017. This is up from 5.3% in the year to January 2017, however, this is still below the average annual house price growth seen in 2016 which was at 7.3%. Continue reading “House Price Index shows 5.8% Growth in the Year to February”
Month on month we have been reading about house prices continuing to creep upwards across the UK with the only exception being prime London and the latest Nationwide Building Society House Price Index for February is not changing that pattern yet. The Nationwide report that price growth in February was up to 4.5%, a 0.6% month-on-month rise. Continue reading “A Challenging Year Ahead for House Prices?”