1,000 fewer mortgage deals to pick from as hundreds of offers are pulled in just one month September 18, 2022 House hunters and other borrowers across borrowers have close to 1,000 fewer mortgage deals to choose from than they did a year ago, as more than 500 deals have simply vanished since last month. The number of available fixed and variable rate home loans has shrunk to 3,890 – marking the lowest level since April [...]
Property guru: Truss’s energy package has helped housing market from cliff edge September 17, 2022 The Government’s action to limit the impact of energy price rises has helped pull the housing market back from the cliff-edge, a leading property association told City PM this morning. But the National Association of Property Buyers’ (NAPB) does stress further steps are urgently needed to ensure we don’t see a serious downturn in house [...]
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Housebuilder MJ Gleeson’s take-home swells as UK property prices climb September 15, 2022 Housebuilder MJ Gleeson has had its group profit and revenue grow a third over the past year as the average cost of a home climbs. The London-listed firm raked in £55.5m in pre-tax profit and £373.4m in revenue in the 12-months to 30 June, the company reported this morning. The average selling price grew around [...]
Stamp duty cuts and a planning overhaul: Estate agents tell us their housing policy wish list September 14, 2022 With Simon Clarke announced as the new housing minister, we asked top estate agents for their housing policy wish lists Simon Tollit, Partner, Tedworth Property Operating in the luxury residential sector of Prime Central London, the last two years have seen a strong domestic market and more recently London has welcomed back international investors. However, [...]
UK rents continue to rise as Brits turn to leasing over homeownership September 14, 2022 UK rental prices have continued to rise over the past year, according to official figures, following a spike at the beginning of 2022. The costs paid by tenants rose by 3.4 per cent in the 12-months to August, the Office for National Statistics (ONS) revealed today, up from 3.3 per cent in the year to [...]
UK house prices continue to soar in biggest annual jump since 2003 September 14, 2022 UK house prices grew 15.5 per cent to £292,000 in the year to July, according to official figures – the highest annual inflation rate since 2003. The average cost of a home in the UK has continued to spiral as demand outstrips supply. In just 12-months, property prices have grown £39,000 higher, several thousand pounds [...]
Redrow revenue hits new record as housebuilder continues London exit September 14, 2022 Housebuilder Redrow’s revenue has climbed above pre-Covid-19 levels, as it continues its withdrawal from the London market. Revenue grew 10 per cent to a record £2.14bn in the year to 3 July. While profit before tax hit £246m, down from the £314m, it reported a year prior due to one-time fire safety costs of £164m. [...]
Forget tech, hospitality or transport: These are Britain’s most profitable sectors September 13, 2022 At the beginning of this year, the UK counted around 5.6 million private sector businesses. Described as the backbone of the UK’s economy, SMEs account for 99.9 per cent of all businesses in Britain. With house prices currently at a record high, it’s no surprise that business and property services are amongst the sectors making the most profit in the [...]
Most UK homebuyers and owners are locking in mortgage rates as rises loom September 13, 2022 The majority of homebuyers and owners are locking in their mortgage rates to escape looming rate rises later this year, according to the latest data. Most new buyers – some 95.5 per cent – are taking out fixed rate mortgages, the Financial Conduct Authority (FCA) found, while the proportion of mortgaged homeowners fixing their rates [...]
