Posts by EAN Breaking News
Bank 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…
Read MoreTenancy Preferences Shift Amid Economic Uncertainty: Stability Gains Appeal
In the face of ongoing economic challenges, both tenants and landlords are reassessing their approaches to rental agreements. The latest Lettings Report from Leaders Romans Group (LRG) indicates a growing preference for longer-term tenancies, as both parties seek greater security in an unpredictable market. The report reveals that 44% of tenants and an equal percentage…
Read MoreLandlord Licensing Plan a Costly Waste of Time and Money
Responding to government plans to make it easier for councils to introduce landlord licensing schemes, Chris Norris, Policy Director for the National Residential Landlords Association, said: “It makes no sense that whilst planning to create a national database of private landlords, the Government now wants to make it easier for councils to license landlords as…
Read MoreNationwide House Price Review and Outlook for 2025
Housing market resilient despite ongoing affordability challenges Housing market activity proved resilient in 2024 despite ongoing affordability challenges House prices to see growth broadly in the range of 2% to 4% in 2025 Looking back at the housing market in 2024 and what we can expect in 2025, Robert Gardner, Nationwide’s Chief Economist, comments: “Mortgage…
Read MorePlanning Reform Working Paper
Development and Nature Recovery – legal experts say there is plenty here that needs to be carefully thought through Given the Government’s commitment to getting Britain building again and subsequent release of its planning reform working paper yesterday, the Government is proposing to speed things up for developers operating in areas impacted by diffuse water…
Read MoreIncreased activity in the mortgage market anticipated in 2025
UK Finance has today published its housing and mortgage market forecasts for 2025 and 2026 together with projections for 2024 full year numbers. 2025 forecast figures With rate and cost pressures continuing to ease, the outlook for 2025 is for a gradual improvement in mortgage affordability, feeding into market growth. As interest rates tick down,…
Read MoreTear down barriers to help diversify the housing market, says FMB
Small house builders, who account for just ten per cent of all new homes built across the country, won’t be able to increase their market share unless a series of barriers are removed, says a new report, ‘Supporting SME Housebuilders: Challenges and Opportunities’, commissioned by the Federation of Master Builders (FMB) from the London School…
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