Posts by EAN Breaking News
Half of homes increased in value in 2024 by £7,600 as house prices returned to growth
Homeowners checking the value of their home on Zoopla are likely to have seen an increase in value with half (15 million) of all homes across the UK increasing in value in 2024 by an average of £7,600 or more A third of UK homes registered small value falls, mostly across Southern England, as higher…
Read MoreRental Reforms Will Make Access to Housing Harder
Speaking ahead of the final stages of the Renters’ Rights Bill in the House of Commons today, a coalition of organisations representing landlords, letting agents and build to rent providers said: “We accept that Section 21 repossessions are ending, and support measures to ensure every rental property is of a decent quality. However, the Government’s…
Read MoreBarclays: 1 in 6 Homeowners eye up a move in 2025
1 in 6 Homeowners eye up a move in 2025, as growth in mortgage and rental spending slows Rent and mortgage spending grew 1.8 per cent year-on-year in December, down from 8.2 per cent in November, as more homeowners benefitted from base rate reductions Six in 10 renters say that it would be impossible…
Read MoreAccess to Rented Housing Will Be Harder for Tenants Most In Need
Responding to amendments tabled to the Renters’ Rights Bill by the Government to restrict the amount of rent that can be sought in advance, Chris Norris, Policy Director for the National Residential Landlords Association, said: “Restricting rent in advance, combined with freezing housing benefit rates and not enough rental housing to meet demand is creating…
Read MoreHalifax House Price Index December 2024
House prices in December 2024 were 3.3% higher than the same month a year earlier. House prices decreased by -0.2% in December Annually, property prices are up +3.3% (vs +4.7% last month) Typical property now costs £297,166 Northern Ireland maintains the strongest UK annual house price growth Amanda Bryden, Head of Mortgages, Halifax,…
Read MoreHousing Insight Report: November 2024
The next few months are likely to prove busy for the sales market, with stock coming to the market and consumers showing they are keen to stay ahead of Stamp Duty threshold changes due in England and Northern Ireland in April 2025. The lettings market remains extremely challenging, with long-running issues regarding an intense lack…
Read MoreBank of England Money and Credit – November 2024
Overview These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals fell by £1.0 billion, to £2.5 billion in November.…
Read MoreNationwide: Strong end to the year for UK house prices
UK house prices up 4.7% year on year in December Northern regions see higher price growth than southern regions Northern Ireland best performing area for second year running, with prices up 7.1% over 2024 East Anglia weakest performing region, with prices up 0.5% over the year Headlines Dec-24 Nov-24 Monthly Index* 540.8 536.8 Monthly Change*…
Read More28.8% of property sales fell through before completion in 2024
The most common reasons for failed sales include the buyer pulling out or failing in an attempt to renegotiate a lower purchase price after a survey (27.3%), the buyer changing their mind and withdrawing from the sale (23.6%), and difficulty getting a mortgage (21.8%). Reasons for failed sales Reason Percentage of failed sales Buyer pulled…
Read MoreHousing sales end 2024 on a high, but buyers more cautious about how much to pay for homes as mortgage rates drift higher
Buyers and sellers returned to the market over 2024 building a sales pipeline 30 per cent larger than a year ago with 283,000 homes worth £104bn progressing to a sale in 2025. This is the largest end of year total value for four years. House prices have returned to growth with the average house price…
Read More£21 million to live on UK’s most expensive street
· Knightsbridge in London now the priciest UK street · The UK’s 10 most expensive streets all in the capital, with an average price tag of £16.5 million · East Road in Weybridge the most expensive address outside of London · Priciest UK properties are 60 times more than a typical home Lloyds has revealed…
Read MoreResponse to the Bank of England interest rates decision
Response to the Bank of England interest rates decision, thoughts from the Industry Rates were left unchanged at 4.75% MPC voted 6 to 3 in favour of holding rates flat, with three members preferring to cut rates by 0.25% to 4.5% In the near-term inflation is expected to “continue to rise slightly” The market was expecting rates to remain…
Read MorePrivate rent and house prices, UK: December 2024
Main points Average UK private rents increased by 9.1% in the 12 months to November 2024 (provisional estimate); this is up from 8.7% in the 12 months to October 2024. Average rents increased to £1,362 (9.3%) in England, £772 (8.0%) in Wales, and £980 (6.5%) in Scotland, in the 12 months to November 2024. In…
Read MoreHalifax UK Housing Market Review And Outlook For 2025
UK housing market beat expectations in 2024, with recovery supported by lower mortgage rates and strong wage growth Property prices hit a record high of £298,083 following annual growth of +4.8%, with transaction volumes returning to pre-pandemic levels Affordability has improved but continues to be a challenge for many buyers, with a decline in interest…
Read MoreFoxtons Lettings Market Index – November 2024
Steady demand and rising supply shape London rental market in 2024, Foxtons data shows In November, applicant demand remained strong, with applicant demand 1% higher in November 2024 compared to November 2023. There were over 30,000 new listings coming to the London market, according to Foxtons’ analysis of Zoopla’s data. This is the same amount…
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