5 Fact Friday 3 May 2024 March Mortgage approvals rise https://www.bankofengland.co.uk/statistics/money-and-credit/2024/march-2024 April Nationwide Index Price Falls -0.4% https://www.nationwidehousepriceindex.co.uk/reports/april-sees-slowing-in-annual-house-price-growth BoE Net Lending continues to contract https://www.bankofengland.co.uk/boeapps/database/fromshowcolumns.asp?Travel=NIxSUx&FromSeries=1&ToSeries=50&DAT=RNG&FD=1&FM=Jan&FY=2014&TD=31&TM=Dec&TY=2024&FNY=&CSVF=TT&html.x=111&html.y=29&C=KN2&Filter=N House Price Decay may be a long term trend as real values have fallen 11% already https://www.newstatesman.com/business/2024/05/housing-market-house-price-crash EPCs often wrong, need overhaul – Which? Probate delays rising
Author: Charlie Lamdin
1.1 million in mortgage arrears – 5 Fact Friday 26 April
Rightmove index misleads again. 20% more homes for sale than a year ago. Zoopla https://www.thisismoney.co.uk/money/mortgageshome/article-13337013/amp/Homes-sale-five-year-high-says-Zoopla-house-prices-fall.html 1.1m in mortgage arrears https://www.mpamag.com/uk/mortgage-industry/market-trends/492000-borrowers-at-risk-of-missing-payments/486603 Mortgage rates rise back above 6% Homeowner pain as mortgages soar above 6pc again https://archive.ph/2024.04.25-164328/https://www.telegraph.co.uk/money/property/mortgages/mortgage-rates-soar-above-6pc-homeowners-pain/ US Economy growth falters despite rising wages Section 21 Eviction Notice Abolition Delayed https://theindependentlandlord.com/section-21-abolition/
Rightmove’s monopoly must be ended for the sake of everyone in the housing market.
House price propaganda, over-inflated house price indices and endless talking up the market at a local level are all leading to widespread seller expectations being too high. This is not usually the seller’s fault, it’s what the industry and media are telling them (although there are some who are clearly delusional, wanting more than even… Continue reading Rightmove’s monopoly must be ended for the sake of everyone in the housing market.
Housing Market Woes Worsening in Q2.
5 Fact Friday – 19 April 2024 ONS: Scotland and NI prices up, England and Wales prices fall 1.1% UK House Price Index summary: February 2024 – GOV.UK Inflation Stays Sticky – CPIH Unchanged at 3.8%, CPI slips slightly to 3.2% https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/march2024 Mortgage rates start increasing https://www.telegraph.co.uk/money/property/mortgages/mortgage-rates-rise-inflation-dash-hopes-summer-rate-cut/ Unemployment jumps “unexpectedly” to 4.2% https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/employmentintheuk/april2024 Job Vacancies… Continue reading Housing Market Woes Worsening in Q2.
5 Fact Friday 12 April
5FF April 12th FCA: 7.4m struggling to make payments https://www.financialreporter.co.uk/fca-introduces-new-rules-for-mortgage-lenders-as-74m-still-struggling-to-meet-payments.html Download: RICS March Survey – House Price Survey Balance -4% reflecting slightly negative but stable picture https://www.rics.org/content/dam/ricsglobal/documents/market-surveys/uk-residential-market-survey/March_2024_RICS_UK_Residential_Market_Survey.pdf Bank of England Credit Survey – Defaults expected to increase https://www.bankofengland.co.uk/credit-conditions-survey/2024/2024-q1 Halifax HPI down -1% https://www.halifax.co.uk/media-centre/house-price-index.html https://www.halifax.co.uk/assets/pdf/march-2024-halifax-house-price-index.pdf Feb GDP up 0.1% https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/february2024 Use my First Time Buyer Email… Continue reading 5 Fact Friday 12 April
An Easter Feast of Housing Guff
5 Fact Good Friday 29 March 2024 Down valuations ‘rearing their head again’ says big property firm MPs launch inquiry into home buying and selling proce… https://www.zoopla.co.uk/discover/property-news/no-further-house-price-falls-expected-this-year/ https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/quarterlynationalaccounts/octobertodecember2023 https://www.ft.com/content/bef934b4-7474-4381-8195-447d5346dc1f ONS revises down three years of house price readouts. https://x.com/moving_charlie/status/1772263638360887735?s=20 South East
5 (7) Fact Friday 22 March 2024
Land Registry releases ONS Local House Prices tool: https://www.ons.gov.uk/economy/inflationandpriceindices/articles/housingpricesinyourarea/2024-03-20 Bank of England leaves base rate unchanged at 5.25% https://www.bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate Rightmove March House Price Index misleads again: https://www.rightmove.co.uk/news/content/uploads/2024/03/Rightmove-HPI-18th-March-Final.pdf ONS published meaningless national average house prices for January https://www.gov.uk/government/statistics/uk-house-price-index-for-january-2024/uk-house-price-index-summary-january-2024 UK CPIH inflation down to 3.8% https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/february2024 BONUS FACT: Supply of homes for Sale year to date… Continue reading 5 (7) Fact Friday 22 March 2024
8 Reasons UK House Prices Are Collapsing in 2024
8 Reasons UK House Prices Are Collapsing in 2024
5 Fact Friday the Ides of March
Not much suggests good things ahead for the home moving market, as the end of Q1 2024 nears. RICS shows biggest rise in new properties coming to market since before the pandemic. https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey Rents in London fall 10% https://www.standard.co.uk/homesandproperty/renting/london-rent-feb-2024-chestertons-b1144821.html Job Vacancies fall almost 25% https://www.bloomberg.com/graphics/2024-03-reed-jobs-report-falling-vacancies-endangers-recovery/ Jeremy Hunt confirms to Parliamentary Committee that he expects house… Continue reading 5 Fact Friday the Ides of March
A “cult” of kindness.
When unscrupulous debt-brokers call it a “cult” for wanting affordable homes for everyone, you can see the nature of the real problem society faces. These are the ones who don’t see the problem. They’re also the ones who cry “buyer beware” as they sell overpriced lifelong obligations to people and call it “target”. Then there… Continue reading A “cult” of kindness.