Page 6 - Nick Leeming News Today

The house price figures arrived against the backdrop of chaos in the mortgage market , with rates having risen dramatically over the past month.

The latest ONS House Price Index, shows that average UK house prices increased by 3.5% in the 12 months to April 2023, down from 4.1% in March 2023. MD of Real Estate at Shawbrook Emma Cox says the UK property market is navigating challenging conditions, including high interest rates, inflation, and reduced budgets

The latest figures from the HMRC show a marked fall in housing transactions. The provisional non-seasonally adjusted estimate of the number of UK residential transactions in April 2023 is 67,220, 32% lower than April 2022 and 29% lower than March 2023 The provisional seasonally- adjusted estimate of the number

Waterside properties enjoy a boost from a pandemic-era race to the coast

There has been mixed reaction from the sector to the latest interest rate rise announced today by the Bank of England. MT Finance head of buy-to-let lending Marylen Edwards believes that while a reduction in the base rate would have been welcome news, another increase was necessary at this moment in time to combat

There is hope that the latest increase in the Bank of England’s base rate to 4.5 per cent will be the last, as the housing and mortgage industry fears borrowers will not be able to bear higher expenses.

Property experts said many people living in small towns, villages or the countryside in Britain are now moving into so-called Commuterville - but not all the way back into cities.

Government figures show that average UK house prices have risen 5.5% since this time last year.

The number of house sales in February was 18% lower than in February 2022, but there have been recent signs of some mortgage rates edging down.

The number of house sales in February was 18 lower than in February 2022, but there have been recent signs of some mortgage rates edging down.