Stock levels return to record lows as agents warn Brexit continues to weigh on the property market

Brexit remains a “critical factor” swaying buyers and sellers in the property market, estate agents are warning as stock returned to a record low last month. The latest RICS Residential Market Survey found that stock levels returned to their previous lows of 41.8 properties per surveyor estate agent in February, with much of the [...]


Mortgage approvals hit record highs in UK regions despite property market lull

Banking trade body UK Finance has unveiled lending data showing how well first-time buyers, home movers and those remortgaging fared during 2018 in the UK regions of London, Scotland, Wales and Northern Ireland. Despite concerns about the property market stalling, the data shows some regions had record levels of approvals for first-time buyers and [...]


New asking prices continue to tiptoe up as Rightmove claims affordability has improved for buyers

New asking prices rose 0.7% this month – equivalent to an extra £1,981 on the average price tag. The jump, consistent with the average 0.6% February uplift in the last two years, brings new asking price inflation to 0.2%. With annual wage growth of 3.4% outstripping rises in asking prices, Rightmove concludes that affordability [...]


Repossessions fall to lowest level for almost 30 years

Repossessions last year fell to their lowest level for almost 30 years. There were 4,580 home-owner possessions, the lowest since 1980. That year, there were 3,480 possessions, and 6.2m outstanding mortgages. At the end of last year, there were 9m outstanding mortgages. In the final quarter of last year, 1,130 home owner mortgaged properties [...]


Proportions of owner-occupiers and private tenants stay the same for fifth year

Proportions of owner-occupiers and private tenants stay the same for fifth year The latest English Housing Survey, which was published yesterday and covers 2017 to 2018, says that of the estimated 23.2m households in England, 14.8m (64%) were owner-occupiers. Most owner-occupiers, 34% of the total number of households, owned outright, while 30% were buying [...]


Mortgage approvals increase as buyers ‘rush to beat Brexit’

The number of mortgage approvals rose last month, prompting claims of a pre-Brexit rush to purchase a property. Data from banking trade body UK Finance showed there were 26,145 mortgage approvals for house purchase in December, up 5.2% annually. Despite this, a slump in the number of remortgage advances meant the approvals figure across the [...]

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