How Much Will Mortgage Rate Hikes Affect the UK Housing Market?
PropertyWire
by Ryan Bembridge
1h ago
By Tom Bill, head of UK residential research at Knight Frank Borrowers are currently rolling off relatively favourable two-year fixed-rate deals agreed at the start of 2022, but the pain from higher rates will reduce as the year progresses. Last week’s economic data was reassuringly predictable. On Wednesday we learned that core inflation fell by […] The post How Much Will Mortgage Rate Hikes Affect the UK Housing Market? appeared first on PropertyWire ..read more
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Landlords and managing agents fined £15,000
PropertyWire
by Ryan Bembridge
1h ago
Managing agents and landlords in Haringey have been ordered to pay a £15,000 fine for operating a hazardous and unlicensed House in Multiple Occupation (HMO). The property wasn’t licensed for two years, while it fell into disrepair and contained hazards like inadequate fire protection and precautions – hazards which were not remediated even after the […] The post Landlords and managing agents fined £15,000 appeared first on PropertyWire ..read more
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Yorkshire Building Society launches mortgage with £5,000 deposit
PropertyWire
by Ryan Bembridge
23h ago
Yorkshire Building Society has launched a fee-free mortgage with a deposit of just £5,000. The product can be used to buy a property worth up to £500,000, meaning it can be used at 99% loan-to-value – without the need for a government scheme. The mortgage costs 5.99% for a five-year fixed rate, while it is […] The post Yorkshire Building Society launches mortgage with £5,000 deposit appeared first on PropertyWire ..read more
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New build prices increasing faster than existing homes
PropertyWire
by Ryan Bembridge
23h ago
Scottish new build house prices have soared ahead of existing homes, analysis by property firm DJ Alexander has found. Between December 2022 and November 2023 (the latest period for which there is data) the average price of a new build in Scotland increased by £54,389 from £246,906 to £301,295 which is a 22.0% rise over […] The post New build prices increasing faster than existing homes appeared first on PropertyWire ..read more
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Price rises to be kept in check in 2024
PropertyWire
by Ryan Bembridge
23h ago
Greater availability of homes for sale should keep price rises in check in 2024, Zoopla has predicted. The average estate agent had almost 30 homes for sale in Q1 2024, a return to the pre-pandemic average. Zoopla said this means buyers have more choice and room to negotiate, especially where homes are failing to attract […] The post Price rises to be kept in check in 2024 appeared first on PropertyWire ..read more
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Propertymark urges property agents to prepare for regulation before it happens
PropertyWire
by Ryan Bembridge
2d ago
Propertymark has urged property agents to be ahead of the curve as pressure builds to enact regulation of property agents. The organisation has qualifications for agents, while it appealed for more members. Housing minister Michael Gove was told by the House of Lords Industry and Regulators Committee on 22 March that tenants, leaseholders, and others […] The post Propertymark urges property agents to prepare for regulation before it happens appeared first on PropertyWire ..read more
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Guildford development launches with £18.5 million funding arrangement
PropertyWire
by Ryan Bembridge
2d ago
A mixed-use development on brownfield land in the centre of Guildford has started construction, following an agreement with developer Native Land and property group Grosvenor. St Mary’s Wharf will deliver 185 1-3 bedroom homes with a new riverside walkway, while there will be 21,000 sq ft of restaurant and business spaces. The site was formerly […] The post Guildford development launches with £18.5 million funding arrangement appeared first on PropertyWire ..read more
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Roofers making thier customers wait
PropertyWire
by Ryan Bembridge
2d ago
If you want to hire a roofer you’ll typically have to wait a staggering nine weeks, the longest amongst housing tradespeople, a study by IronmongeryDirect has revealed. Other workers with long wait times include locksmiths (eight weeks), joiners (seven) and scaffolders (six). Staff shortages are the biggest factor behind these long wait times, with more […] The post Roofers making thier customers wait appeared first on PropertyWire ..read more
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Commuter towns experience office booms
PropertyWire
by Ryan Bembridge
2d ago
Flexible workspaces in former commuter towns such as Maidenhead (+171%), High Wycombe (+158%), Uxbridge (+134%), Milton Keynes (+79%) and Amersham (+76%) have seen some of the largest increases in commercial office demand. IWG, which conducted the research, said that employee desire to reduce time and money spent on long daily commutes has been central to […] The post Commuter towns experience office booms appeared first on PropertyWire ..read more
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Michael Gove’s leasehold plan axed
PropertyWire
by Ryan Bembridge
3d ago
The plan to reduce all ground rents to a peppercorn rent have reportedly been axed by the Prime Minister and the Treasury, with Housing Secretary Michael Gove admitting defeat on the policy. There were concerns that making retrospective changes to property rights could leave ministers open to legal challenges. Meanwhile the Treasury warned that going […] The post Michael Gove’s leasehold plan axed appeared first on PropertyWire ..read more
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