Weekly housing market update 16th August 2024

5 Fact Friday 16 August 2024

5 Fact Friday from Charlie Lamdin

Rayner scraps Tory plans to prioritise British citizens for social housing

https://www.telegraph.co.uk/politics/2024/08/10/angela-rayner-social-housing-migrants-drop-restrictions

Q2 Mortgage claims for possession jump 34% from the same quarter in 2023.

https://www.introducertoday.co.uk/breaking-news/2024/8/dramatic-rise-for-mortgage-possession-claims–government-data

Monthly jobless claimant count spikes to highest level since 2009

⚠️ Monthly jobless claims in the UK rose to its highest level since 2009. The 3M change is on par with what we saw during the GFC. Yes there was a modest uptick in jobs last month, but there are major red flags in the UK labour market $GBP pic.twitter.com/f5A0yyeQVD
— Viraj Patel (@VPatelFX) August 13, 2024

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/august2024

National average time for sellers to find a buyer rises to 72 days

Instruction to SSTC rises as vendors stick to their guns on price

GDP per head ticks up

https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/latest#:~:text=in%20headline%20GDP.-,Real%20GDP,-per%20head%20is

INFLATION rises back up, as high as 7% for Home Owner Occupiers

Owner Occupier Housing inflation hits 7%.
CPI and CPIH both rose in July.
Shhhhhhhhhhhhhhhhhh, it's fine. As you were.

It's very complicated, you wouldn't understand. But it's fine, honestly.
Jobless claims spiking to GFC levels? Shhhhh.
You don't understand. Back to your… pic.twitter.com/9irbMJYocu
— Moving Home with Charlie (@moving_charlie) August 14, 2024