5 Fact Friday – 2 Aug 2024 Rental market cooling quickly with supply up 14% and demand down 16%. https://hub.rightmove.co.uk/rental-price-tracker https://hub.rightmove.co.uk/content/uploads/2024/07/Rental-Trends-Tracker-Q2-2024-FINAL.pdf Labour doubles down on housebuilding claims. https://www.theguardian.com/society/article/2024/jul/27/angela-rayner-plans-tackle-tory-housing-legacy-scandal Zoopla boss says BTL no longer makes financial sense https://www.telegraph.co.uk/business/2024/07/27/private-landlord-britain-no-financial-sense-boss-zoopla June Mortgage approvals fall 3.5% https://www.bankofengland.co.uk/statistics/money-and-credit/2024/june-2024 Zoopla July HPI shows different property types have different price movements… Continue reading Weekly housing market update 2nd August 2024
Author: Charlie Lamdin
UK Housing market’s limp gets worse – 5FF
5 Fact Friday – 26 July 2024 Asking price to sold price gap widens to 17%. https://www.propertyreporter.co.uk/asking-to-sold-price-gap-continuing-to-widen.html Buy to let mortgages halve in one quarter https://www.bloomberg.com/news/articles/2024-07-22/deals-for-uk-buy-to-let-homes-drop-to-record-low-boosting-rents?srnd=homepage-uk Kemi Badenoch schools Angela Rayner on impossible housing targets as new homes registrations plummet 23% https://www.independent.co.uk/money/new-home-registrations-fell-by-23-annually-in-second-quarter-of-2024-b2584306.html Number of UK Bankruptcies Jumps to Highest in Over a Year https://www.bloomberg.com/news/articles/2024-07-19/number-of-uk-bankruptcies-jumps-to-highest-in-over-a-year Huge… Continue reading UK Housing market’s limp gets worse – 5FF
Sales agreed down 1/3rd, completions down 40% v 2019.
5 Fact Friday – 19 July 2024 May sales completion rates remain circa 40% below Q4 ’19 levels https://20115751.fs1.hubspotusercontent-na1.net/hubfs/20115751/LIG_Property%20Trends%20Report/2024/LIG%20Q2%202024%20Property%20trends%20report/Q2%2024%20EW%20SC%20property%20trends%20report%20-%20RESI/Reports/LM%20RESI%20PTR%20JUL24%20EWS%20GENERIC%20v1.pdf Rightmove July New Asking Prices Fall: https://www.rightmove.co.uk/news/content/uploads/2024/07/Rightmove-HPI-15th-July-Final.pdf Population growth being 90% accommodated by new build rates. Total new construction starts now lower than 2009 King’s Speech reintroduces the “Renter’s Rights Bill” https://theindependentlandlord.com/kings-speech https://www.parliament.uk/business/news/2024/july/state-opening-of-parliament-2024 Lloyds Bank to… Continue reading Sales agreed down 1/3rd, completions down 40% v 2019.
The election is our only chance to fix housing, but we’re going to blow it – Charlie Lamdin
Vote for anyone but Starmer, or the housing crisis gets worse. Labour will not deliver on their promises, because they haven’t acknowledged the problems that have been standing in the way for decades. A Labour government means likely a decade more housing market deterioriation, whether you’re buying or renting. Therefore, to have any prospect of… Continue reading The election is our only chance to fix housing, but we’re going to blow it – Charlie Lamdin
Final 5 Fact Friday before Election 2024
Final Five Fact Friday before the election 28 June 2024. Register here if you want to appear on the 60 hour election livestream: https://docs.google.com/forms/d/1vpPLXWsD82-KpwrSVgeTauC94zsCH1aCgLV_ZGBMQnU/viewform?usp=drivesdk Zoopla’s house price index says everything is 8% overvalued Bank of England warns 3 million more mortgage holders to be hit by end of fixed rates. Q1 GDP per capita revised up … Continue reading Final 5 Fact Friday before Election 2024
Rates not cut again. 5 Fact Friday 20 June 2024
Election fever hots up, but there’s little new information on housing manifestos. 5 Fact Friday – 20 June 2024 Rightmove Asking Price Index “Flat” (but actually they’re not) https://www.rightmove.co.uk/news/content/uploads/2024/06/Rightmove-HPI-17th-June-Final.pdf ONS House Price and Rental Index for April 2024 Rent inflation eases as stock soars: https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/privaterentandhousepricesuk/june2024 https://www.propertyreporter.co.uk/property-listings-surge-by-36-in-londons-lettings-market-foxtons.html Construction Bond Provider exits market Bank of England holds… Continue reading Rates not cut again. 5 Fact Friday 20 June 2024
Housing Market News Overload.
5 Fact Friday 14th June 2024 Mortgage arrears total up 45% https://www.thisismoney.co.uk/money/mortgageshome/article-13517137/Mortgage-arrears-surge-45-year-reality-rate-hikes-sets-in.html Construction output falls sharply https://www.ons.gov.uk/businessindustryandtrade/constructionindustry/bulletins/constructionoutputingreatbritain/april2024 Housing Market Activity Stalls in May – RICS https://www.rics.org/content/dam/ricsglobal/documents/market-surveys/5._WEB_May_2024_RICS_UK_Residential_Market_Survey_tp1.pdf GPD growth stalls – flat at 0% in April 2024 Gov Planning Application Statistics – Q1 2024 – All Metrics down approx 10% year on year https://www.gov.uk/government/statistics/planning-applications-in-england-january-to-march-2024 Reform… Continue reading Housing Market News Overload.
Five Fact Friday 7th June 2024. FFS.
Rents increase but not as much as ONS says and Zoopla says rental growth to fall to 5% https://www.goodlord.co/newsagent/goodlord-rental-index https://www.bbc.co.uk/news/articles/c9rrx74vy5xo HMRC Housing Transaction Volumes fall 9% in April from March https://www.gov.uk/government/statistics/monthly-property-transactions-completed-in-the-uk-with-value-40000-or-above/uk-monthly-property-transactions-commentary–2 Nigel Farage enters election, changing the likely shape of the future House of Commons https://www.theguardian.com/politics/live/2024/jun/03/conservatives-equality-act-labour-general-election-campaign-uk-politics-live-3-june Labour announces FTB scheme. But it’s nothing new. https://labour.org.uk/updates/stories/labour-party-homes-policy-how-we-will-keep-mortgage-rates-low-and-help-first-time-buyers-with-a-new-freedom-to-buy-scheme/… Continue reading Five Fact Friday 7th June 2024. FFS.
UK Political Parties Ranked on Housing Priority.
Political Parties Website 2024 Housing Manifestos – I have not compared policies, I’ve just looked at how much care and attention has been given by each party to the topic of housing. First Place: Lib Dem Housing Policy (last updated Sept 2023) https://www.libdems.org.uk/conference/motions/autumn-2023/f31 Second Place: Worker Party Manifesto contains the word ‘housing’ 19 times. https://workerspartybritain.org/manifesto-britain-deserves-better/… Continue reading UK Political Parties Ranked on Housing Priority.
Housing Politics is about who can deliver the least bad outcome.
We are in the housing mess we’re in for one reason bigger than all the others put together: Politics. NOTHING has a bigger impact on the housing market than politics. Nothing else comes close. Consider the shocking state of our housing industry, spiralling rents, mortgage payments and affordability nightmares. 100% of these situations are a… Continue reading Housing Politics is about who can deliver the least bad outcome.