Rightmove says optimistic home sellers are raising asking prices

Rightmove revealed that prices of homes for sale increased 0.9 percent in January as optimistic sellers hit the market. And even though the mortgage crisis has slowed the real estate market, the number of potential buyers contacting agents is up 55 percent compared to the two weeks before Christmas. The increase is the biggest rebound … Read more

Should You Opt For A Mortgage Deal That Charges Arrangement Fee?

Mortgage interest rates are rising amid spiraling inflation, driving up monthly costs for many new homebuyers, those remortgages and variable rate customers. But while the expenses will be greater overall, a new study suggests that mortgage customers are now less likely to pay arrangement fees — and if they do, it’s likely to be lower. … Read more

Halifax says a house now costs 7 times the average income in the UK

Data shows that the cost of a home in Britain is now more than seven times the average income, putting housing affordability under the most strain it has ever seen. Since the start of the pandemic, property prices have increased by 16.8 percent while average incomes have increased by just 2.7 percent, according to Halifax. … Read more

House prices are set to fall 5% next year, according to Zoopla, with price inflation falling to 7.8%.

Home prices set to fall 5% next year, says Zoopla: Price inflation fell to 7.8% in October driven by sharp increase in mortgage rates Mortgage rates should drop to 4-5% next year, says the property’s website Average discount on asking prices increased to 3% Demand fell 44% after the September 23 mini budget Buyers use … Read more

House prices rose by £26,000 in the year to June, but growth is now slowing, says Nationwide

Nationwide says the typical home is rising £26,000 a year to £271,600 with a faster rise in the South West, but house prices are now slowing slightly Year-over-year price growth slowed to 10.7% in June, down from 11.2% in May. The South West overtook Wales as the strongest performing region, at 14.7%. The average house … Read more

Home prices are registering the lowest monthly rate of growth since 2019, Zoopla says

Real estate prices rose at the lowest monthly rate since 2019 in May, according to Zoopla, as the economic outlook and a higher base price began to “affect sentiment and activity.” Prices rose 0.1 percent during the month, the smallest monthly increase since December 2019, according to the real estate portal’s House Price Index. In … Read more

Mortgage borrowing rose by £3.2 billion in May according to the Bank of England

Borrowing on new mortgages rose by £3.2 billion in May, as buyers and sellers ‘stalled’ decided to crash amid changing market conditions. Net borrowing of new mortgage debt rose to £7.4 billion in May, according to money and credit data from the Bank of England, up from £4.2 billion in April. This was also well … Read more