Surprise as UK house prices set record after four months of falls
Surprise as UK house prices set record after four months of falls
Survey reveals 1.6% monthly rise in July, raising average property value to £241,600
House prices in Britain leaped to a new high in July, in a “surprising spike” after the market was put on pause earlier this year, according to Halifax.
The bank said a “mini boom” in the market had pushed average property values up by 1.6%, or £3,770, month-on-month in July. Across the UK the average property value was £241,604 in July, up from £237,834 in June.
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Survey reveals 1.6% monthly rise in July, raising average property value to £241,600House prices in Britain leaped to a new high in July, in a “surprising spike” after the market was put on pause earlier this year, according to Halifax.The bank said a “mini boom” in the market had pushed average property values up by 1.6%, or £3,770, month-on-month in July. Across the UK the average property value was £241,604 in July, up from £237,834 in June. Continue reading...
Survey reveals 1.6% monthly rise in July, raising average property value to £241,600House prices in Britain leaped to a new high in July, in a “surprising spike” after the market was put on pause earlier this year, according to Halifax.The bank said a “mini boom” in the market had pushed average property values up by 1.6%, or £3,770, month-on-month in July. Across the UK the average property value was £241,604 in July, up from £237,834 in June. Continue reading...
Stamp duty cut and pent-up demand help push average property price past £245,000House prices in the UK jumped to a new record last month, with the average price of a property rising beyond £245,000, according to one of Britain’s largest mortgage lenders.But Halifax, which is part of Lloyds Banking Group, cautioned that such strong price growth was unlikely to continue as unemployment was expected to keep rising and household earnings had been reduced by the Covid-19 pandemic. Continue readin...
Stamp duty cut and pent-up demand help push average property price past £245,000House prices in the UK jumped to a new record last month, with the average price of a property rising beyond £245,000, according to one of Britain’s largest mortgage lenders.But Halifax, which is part of Lloyds Banking Group, cautioned that such strong price growth was unlikely to continue as unemployment was expected to keep rising and household earnings had been reduced by the Covid-19 pandemic. Continue readin...
Respondents reported that new buyer enquiries fell in May, with a net balance of -7%, in the body’s latest UK Residential Market Survey, down from a net balance of +8% in April. The report says that “some respondents put this down to some buyers tightening their belts as the cost of living begins to have an effect”, adding that May’s survey brings to an end eight consecutive positive results for new buyer enquiries.
The volume of agreed sales saw litt...
Respondents reported that new buyer enquiries fell in May, with a net balance of -7%, in the body’s latest UK Residential Market Survey, down from a net balance of +8% in April. The report says that “some respondents put this down to some buyers tightening their belts as the cost of living begins to have an effect”, adding that May’s survey brings to an end eight consecutive positive results for new buyer enquiries.
The volume of agreed sales saw litt...
House prices in the UK have increased 10.9% on an annual basis, with the average property in the UK being valued at £276,755, according to the latest data from the government’s house price index. The data found that house prices in the UK have risen by 0.5% since January this year. The UK Property Transactions ...
This story continues at UK house prices increase 10.9% from February 2021
Or just read more coverage at Mortgage Finance Gazette
House prices in the UK have increased 10.9% on an annual basis, with the average property in the UK being valued at £276,755, according to the latest data from the government’s house price index. The data found that house prices in the UK have risen by 0.5% since January this year. The UK Property Transactions ...
This story continues at UK house prices increase 10.9% from February 2021
Or just read more coverage at Mortgage Finance Gazette
House prices stalled last month after more than two years of growth as a sharp rise in mortgage rates fuelled caution among buyers, according to Britain’s official surveyors body.The Royal Institution of Chartered Surveyors (Rics) also predicted that rents will be 4% higher in a year’s time due to an imbalance between strong tenant demand and the supply of homes to let.Across the UK, 2% more property professionals reported house prices falling rather than rising, Rics said, ending a 28-month...
House prices stalled last month after more than two years of growth as a sharp rise in mortgage rates fuelled caution among buyers, according to Britain’s official surveyors body.The Royal Institution of Chartered Surveyors (Rics) also predicted that rents will be 4% higher in a year’s time due to an imbalance between strong tenant demand and the supply of homes to let.Across the UK, 2% more property professionals reported house prices falling rather than rising, Rics said, ending a 28-month...
UK house price growth flatlined in September with a stronger slowdown expected in the coming months as a combination of soaring inflation and mortgage rates makes moving unaffordable for many.The latest snapshot from the building society Nationwide comes at the end of a torrid week for the housing industry as lenders pulled 40% of available mortgages from the market after Kwasi Kwarteng’s mini-budget last Friday.‘We will likely lose our dream house because of Kwarteng’s actions’Read more...
UK house price growth flatlined in September with a stronger slowdown expected in the coming months as a combination of soaring inflation and mortgage rates makes moving unaffordable for many.The latest snapshot from the building society Nationwide comes at the end of a torrid week for the housing industry as lenders pulled 40% of available mortgages from the market after Kwasi Kwarteng’s mini-budget last Friday.‘We will likely lose our dream house because of Kwarteng’s actions’Read more...
Rising mortgage costs and the broader cost of living crisis will push UK house prices down more sharply in the coming months, said Halifax, after prices dipped 0.1% in September.Halifax said the market had been almost flat since June but was now heading into a more significant slowdown as rapidly rising borrowing costs made buying a property unaffordable for more people.Kwarteng considers extending mortgage guarantee schemeRead more“The housing market may have already entered a more sustained ...
Rising mortgage costs and the broader cost of living crisis will push UK house prices down more sharply in the coming months, said Halifax, after prices dipped 0.1% in September.Halifax said the market had been almost flat since June but was now heading into a more significant slowdown as rapidly rising borrowing costs made buying a property unaffordable for more people.Kwarteng considers extending mortgage guarantee schemeRead more“The housing market may have already entered a more sustained ...
The average house price in England and Wales is set to continue to rise over the next quarter to a new record high of £389,712 in June 2022, according to Reallymoving’s March House Price Forecast. The forward-looking index, which captures the purchase price buyers agree to pay when they search for conveyancing quotes, suggests that ...
This story continues at House prices to reach record high, shows Reallymoving data
Or just read more coverage at Mortgage Finance Gazette
The average house price in England and Wales is set to continue to rise over the next quarter to a new record high of £389,712 in June 2022, according to Reallymoving’s March House Price Forecast. The forward-looking index, which captures the purchase price buyers agree to pay when they search for conveyancing quotes, suggests that ...
This story continues at House prices to reach record high, shows Reallymoving data
Or just read more coverage at Mortgage Finance Gazette
Ever since the pandemic housing boom, U.S. house prices have kept on climbing, leaving many potential buyers at a loss of how they could afford a place of their own in a red hot market.
Ever since the pandemic housing boom, U.S. house prices have kept on climbing, leaving many potential buyers at a loss of how they could afford a place of their own in a red hot market.
The continuing price increase is mostly attributed to low inventory levels not seen for years.
The continuing price increase is mostly attributed to low inventory levels not seen for years.