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UK residential transactions in August came in at 87,010, edging up 1% on July, making it the third month in a row that deals have lifted, data from HMRC shows. This seasonally adjusted estimate is, however, 16% lower than a year ago, says the government’s customs body. However, property experts are cheered by the
The Bank of England has held the base rate at 5.25%. Many expected the Bank's Monetary Policy Committee (MPC) to raise rates by 0.25% one final time at last evening's meeting but the majority of members voted to hold them, following the last rise on 3 August. The vote was close, with five in favour, four against. The
Despite another base rate rise by the Bank of England in August, and the expectation by many of a further increase in October, in recent weeks most lenders have started to cut fixed rates. Spicerhaart joint chief executive John Phillips says one of the biggest drivers of the repricing has been the fall in inflation,
The number of properties sold in the UK rose by 1% in July – but are still 16% lower than the same time last year. HMRC’s property transactions data for July, released today, shows the provisional seasonally adjusted estimate for residential transactions sales stood at 86,190. The provisional non-seasonally adjusted
UK annual house price growth slowed to 0.1% this month, the lowest rate for 11 years as high mortgage rates bite into the industry, data from Zoopla shows. House transactions are on track for one million completions this year, 21% lower than 12 months ago and the lowest since 2012, says the property group’s August