Swap rates have risen in the past week after US inflation came in higher than expected and economists seem to be divided about what this means for UK interest rates Five major lenders – NatWest, Barclays, Accord, Leeds Building Society and HSBC – have all announced rate hikes so far this week, as concern grows that interest rates may not drop as quickly as expected. Swap rates have risen in the past week after US inflation came in higher than expected and economists seem to be divided about what this means for UK interest rates. John Charcol head of marketing Nicholas Mendes says: Swaps rose ..read more

The latest figures show that over the last 12 months, mortgage lending in the UK came to an accumulated total of £217.7 billion Mortgage lending has dropped by 28.6% in the last year, however, seasonal housing market trends could bring a welcome boost to mortgage lending totals over the coming months, as per the latest analysis by Octane Capital. Octane evaluated gross mortgage lending data from the last two years (March 2022 – Feb 2024) to understand how the amount of money being lent to homebuyers has changed. The latest figures show that over the last 12 months, mortgage lending in the UK ..read more

The rise can be attributed to strength among prospective sales of the country’s most expensive homes Average asking prices for UK homes increased 1.1% in April, reaching £372,324 despite a period of prolonged pressure on potential buyers from higher interest rates. The average monthly rise of £4,207 is in line with the 10-year average for this time of year, per property website Rightmove’s monthly house price index. The average price for a property coming to market for sale is now just £570 shy of May 2023’s record of £372,894, while the annual rate of price growth rises to 1.7%, the highest ..read more

The $1.6 trillion sovereign wealth fund has already taken back a part of Bank of America Corp’s London office campus for a comprehensive overhaul Norway’s Norges Bank Investment Management (NBIM) is dipping its toe into development projects as it prepares for a series of key lease expiries across its UK portfolio. The $1.6 trillion sovereign wealth fund has already taken back a part of Bank of America Corp’s London office campus for a comprehensive overhaul. That could be a precursor to answering the much bigger question of what happens if the lender chooses to vacate altogether when its main ..read more

Property website Rightmove said on Monday its asking prices for residential properties increased by 1.7% in the four weeks to April 13 when compared with the same period last year Prices of homes being sold in Britain are near their record highs after the biggest annual rise in a year, according to an industry survey that indicated the momentum in the housing market of early 2024 extended into April. Property website Rightmove said on Monday its asking prices for residential properties increased by 1.7% in the four weeks to April 13 when compared with the same period last year. Prices sought ..read more

Sellar, which previously developed The Shard, plans to build a £500 million, thirty-story tower at 60 Gracechurch street UK property developer Sellar and Japanese developer Obayashi have announced plans to build a “landmark” tower near Liverpool Street. Sellar, which previously developed The Shard, plans to build a £500 million, thirty-story tower at 60 Gracechurch street. The skyscraper will replace the site’s current eight-story building, occupied by German financial services company Allianz. The proposed tower has gone to consultation today. A second consultation will be held in late sprin ..read more

The average private rent in Great Britain was £1,246 in March, which is £104 more than a year ago, as per the Office for National Statistics (ONS) The average cost of rent in the UK increased by 9.2% in the 12 months to February this year – the highest annual rise since records began in 2015. The average private rent in Great Britain was £1,246 in March, which is £104 more than a year ago, as per the Office for National Statistics (ONS). Kensington and Chelsea remain at the top of the most expensive postcodes to live in the country, with the average rent reaching £3,305 in March. Outside Lond ..read more

The number of new prospective buyers between £750,000 and £2 million was 21% above the five-year in the first three months of year, according to Knight Frank data The number of sales instructions in London was 17% above the five-year average in the first quarter of 2024, reveals leading agency Knight Frank. It says buyers are currently playing a bigger role in driving activity. While this has benefitted lower-value markets, there has been more hesitancy in discretionary, higher-value markets. The number of new prospective buyers between £750,000 and £2 million was 21% above the five-year in t ..read more

Sales searches for London boroughs including Mayfair, St John’s Wood and Holland Park have seen a rise in 2024 compared to previous year, with these areas being home to some of the most expensive properties across the country The UK’s most expensive streets to live on with the highest house prices and rent costs have been revealed, with Buckingham Gate in central London topping the list. As per Rightmove, properties on this Westminster street near Buckingham Palace and the Houses of Parliament are selling for an average price of a massive £9.6 million. Outside of London, Old Avenue in Weybrid ..read more

A report found that new buyer enquiries rose in March, with a net balance of +8% of respondents noting an increase, marking the most optimistic result since February 2022 The UK housing market continues to show signs of gradual improvement with the latest Residential Market Survey from the Royal Institution of Chartered Surveyors (RICS) suggesting a rise in buyer demand and a more positive outlook for sales expectations, as well as stabilising house prices. The report found that new buyer enquiries rose in March, with a net balance of +8% of respondents noting an increase, marking the most op ..read more