Posts by Rightmove
Rightmove 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…
Read MoreRightmove reaction to Bank of England Base Rate hold
Matt Smith, Rightmove’s mortgage expert said: “As painful as rate rises have been for many people, there are increasing signs that Base Rate rises are having a real impact on the economy, and inflation is heading in the right direction. Another hold in the Base Rate today also shows that the Bank will also be cautious…
Read MoreRecord rents but tenant affordability ceiling leads to lowest growth since 2019
Average advertised rents outside of London rise to a new record of £1,280 per calendar month (pcm). However, this quarter’s jump of 0.2% is the smallest since 2019 as the pace of rent growth slows: Advertised rents are now 9.2% higher than last year – the lowest annual growth in rents since 2021 London rents…
Read MoreFebruary revealed as the best month to list a home for sale
February is the best month to list a home on average, with homes listed in the month typically finding a buyer the quickest, as well as being most likely to be marked sold subject to contract The data reveals that March is also historically a strong month for sellers to get their home on the…
Read MoreAfter a VAR check it appears one lender jumped the gun slightly with its rate cuts, needing a slight correction – Rightmove’s weekly mortgage tracker
Matt Smith, Rightmove’s mortgage expert said: “Some conflicting rate trends reported this morning shows that lenders are treading a fine line between offering some of the most competitive rates in many months and being caught offside by swap rate changes. Lender margins remain tight, and indeed after a VAR check it appears one lender jumped the…
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