Asking prices cut by £150,000 for cash buyers in London with sellers looking for a smoother sale. Nationally, the average discount was £70,000 for a cash buyer. — GetAgent.
House prices set to rise by another £14,000 before the end of the year, a rise of 5% bringing the average property value up to £300,717, despite the economic difficulties. — Benham & Reeves.
House prices will flatline by the end of next year after ending 2022 up 5% year-on-year, predicts Hamptons Estate Agents. If rates rise further than anticipated, it believes that the prices will most probably fall. — Hamptons Estate Agents.
Over 55s see house prices swell by £1bn a day since pandemic from £3.5tr (trillion) of housing equity in March 2020 (65% of the UK’s total housing wealth) to £4.4 trillion in June 2022. — Just Group.
Interest in energy-efficient homes spikes with a 34% rise in searches, that consider a property’s energy performance certificate (EPC) rating in July. — Legal & General Mortgage Club.
Average house prices returned to growth in August rising by a modest 0.4% month-on-month, recovering from the 0.1% recorded in July. An average UK property now costs a new high of £294,260. — Halifax House Price Index (HPI).
Average house price would reach £712,654 if it followed the energy cap increase planned for October after rising to £395,785 in April this year, GetAgent calculates. The actual average today is £ 286,397. — GetAgent.
House prices up by 12% on back of strong regional growth over the past 12 months. Eight out of 10 regions recorded growth increases of more than 10%, with The South West recording the strongest growth at 15.2%. — e.surv.
Welsh fort available for less than an average London home at £500,000 (the average residential property in London costs £538,000). Arthur Lowe, who played Captain Mainwaring in ‘Dad’s Army’ was once resident at the Defensible Barracks in Pembroke Dock. Picture courtesy of Rightmove.co.uk:
Rental growth jumps 12% even as tenants look for smaller homes, with the current difference in rent for a two-bed flat and three bed houses being £105 per month (£1,260 a year) outside London. — Zoopla.
Govt figures show 21% rise in number of new homes being built between 1 April and 30 June this year with building work starting on 51,730 sites. Commentators argue that this remains well short of the number required and the government’s own target of 300,000 per annum.
Asking prices slightly dipped in August by 0.4% although stock levels in England and Wales ticked up. It will take perhaps a year before they reach what might be considered normal — Home.co.uk
House prices to fall 4.5% next year with a peak annual contraction of 6.2% expected in Q3 2023. Sharp rise in mortgage rates, significant cost of living pressures, an impending recession, and anticipated resultant increases in unemployment means that it will do little to make housing more affordable for young buyers though — CEBR.
Housing transaction numbers rise nearly 10% in August to 114,440 transactions on a non-seasonally adjusted basis — HMRC.
Government encourages lenders to include a borrowers' ‘rent track record’ in mortgage decisions. Pointing to the likes of Credit Ladder, Bud and RentalStep, who use technology to verify tenants’ rental payments. Lenders have traditionally been hesitant about including rent in affordability assessments, due to its lack of inclusion in credit scores. It represents only a short-term commitment and did not include maintenance of a property.
House prices fall for first time this year, down 1.3% in August to £365,173 (-£4,795). Although the fall was likely more due to holidays than mortgage and interest rate rises. — Rightmove.
Property prices could fall by "20%+ over the next two to three years", unless the Government gets a grip on the economic issues facing the UK, some brokers have warned.
Properties available per Propertymark member branch up 47% at 28 in August, but still below the pre-pandemic average of 40 properties available. The number of agents reporting average price agreed at or above the asking price, had held steady since July when there was a minor fall compared to June. — Propertymark.
Planning applications continue to slump, down 17% in Q2 at 106,800 compared to the same period in 2021. Reasons to which some are pointing to the lack of planning officers and problems with the planning system itself.
UK housing stock hits record £7trn with homeowners and landlords gaining the equivalent of £46,000 equity per household since the summer of 2020. — Equity Release Council.
House prices see 8% rise but market slowing and likely turning from a sellers’ market to the one that favours buyers, “as higher mortgage rates are set to cut buying power by up to 28%” — Zoopla.
House price growth back down to single digits in September at 9.5%, down from 10% in August, such that the average price for a house in the UK is now £272,259. Overall, 10 of the UK’s 13 regions saw a slowing in house price growth, with London continuing to be the weakest area for price increases — Nationwide HPI.
