Posts by Rightmove
Rightmove reaction to Base Rate hold
At its meeting ending on 20 March 2024, the Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 8–1 to maintain Bank Rate at 5.25%. Matt Smith, Rightmove’s mortgage expert said: “Although today isn’t the day for the first Base rate cut, each day that passes is one step closer, and it’s…
Read MoreChard in Somerset is new sales hotspot and detached houses make a comeback
New data reveals that Chard, a town in Somerset, is the new sales hotspot, with the number of sales agreed more than doubling (+123%) compared to this time last year Hilton, in Derby is second in the list of hotspots (+112%) and Padgate in Warrington is third (+112%) Overall, the number of sales being agreed…
Read MoreRightmove’s Weekly Mortgage Tracker 20/3/24
Mortgage rates tick up slightly but inflation news suggests positive trends ahead Headlines The average 5-year fixed mortgage rate is now 4.85%, up from 4.62% a year ago The average 2-year fixed mortgage rate is now 5.23%, up from 4.96% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.79%, up…
Read MoreRightmove reaction to inflation dropping to 3.4%
Official data published by the Office for National Statistics this morning showed inflation had fallen from four per cent in January to 3.4 per cent in February. Matt Smith, Rightmove’s mortgage expert said: “Today’s news is positive, and every day is one step closer to when we might see the first Base Rate reduction, and…
Read MoreRightmove House Price Index: Stronger buyer demand and sales as market marches into Spring
The average price of newly marketed properties rises by 1.5% (+£5,279) this month to £368,118, higher than the historic average March increase of 1.0% and the biggest for 10 months as the market continues its recovery after a muted 2023 The positive start to the year continues, paving the way for a greater number of…
Read MoreRightmove’s weekly mortgage tracker 13/03/24
The average 5-year fixed mortgage rate is now 4.84%, up from 4.61% a year ago The average 2-year fixed mortgage rate is now 5.22%, up from 4.99% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.78%, up from 4.63% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.37%, up from 4.29% a year ago The average monthly mortgage payment on a…
Read MoreRightmove comment & mortgage rates ahead of Spring Budget tomorrow
Matt Smith, Rightmove’s mortgage expert said: “The relative stability of the mortgage market at the start of this year appears to have helped give more movers confidence. However, ahead of the Spring Budget tomorrow, demand has been slowest to pick up in the typical first-time buyer homes sector. After demonstrating resilience and determination last year, the…
Read MoreRightmove’s weekly mortgage tracker – 28/02/24
The average 5-year fixed mortgage rate is now 4.80%, up from 4.59% a year ago The average 2-year fixed mortgage rate is now 5.15%, up from 4.92% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.73%, up from 4.64% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.30%, up from 4.25% a year ago The average monthly mortgage payment on a…
Read MoreRightmove calls for stamp duty reform with only 4% of London homes exempt
Ahead of the Spring Budget on March 6th, the UK’s biggest property website Rightmove suggests three policy reforms that could help people moving home: A reform of stamp duty to consider regional property price variations: Only 4% of homes in London are stamp duty exempt for all buyers, compared to 71% in the North East Less than…
Read MoreSearches soar for Tuscany as Amanda & Alan’s second home goes up for sale
Searches for the region of Tuscany (+39%) and the city of Lucca (+60%) in Italy have soared compared to this time last year The spike in searches comes as Amanda & Alan’s Italian Job Season 2 is filmed in the area, prompting viewers to search for where they could live nearby The home renovated by…
Read MoreRightmove’s weekly mortgage tracker – 21/02/24
Headlines The average 5-year fixed mortgage rate is now 4.72%, up from 4.62% a year ago The average 2-year fixed mortgage rate is now 5.08%, up from 4.95% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.67%, down from 4.68% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.19%, down from 4.23% a year ago The average monthly mortgage payment on…
Read MoreRightmove House Price Index: Early-bird buyers build market momentum but price sensitivity remains
Average new seller asking prices rise by 0.9% (+£3,091) this month to £362,839. The annual price change moves tentatively back into positive territory after 6 months of annual price falls, with prices up by 0.1% on a year ago Agreed sales in the first six weeks of 2024 are 16% higher than over the same…
Read MoreRightmove’s weekly mortgage tracker – 14/02/24
Headlines The average 5-year fixed mortgage rate is now 4.69%, down from 4.70% a year ago The average 2-year fixed mortgage rate is now 5.03%, up from 5.02% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.64%, down from 4.73% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.13%, down from 4.32% a year ago The average monthly mortgage payment on…
Read MoreRightmove’s weekly mortgage tracker 07/02/24
Headlines The average 5-year fixed mortgage rate is now 4.64%, down from 4.77% a year ago The average 2-year fixed mortgage rate is now 4.97%, down from 5.10% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.58%, down from 4.79% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.10%, down from 4.41% a year ago The average monthly mortgage payment on…
Read MoreRecord number of home valuation requests in January
· A record number of future sellers contacted an estate agent to get their home valued in January · The number of people requesting a home valuation by an estate agent was 23% higher in January than the previous record of January 2023, and 27% higher than third place July 2020 · It’s been a…
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