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 fall again https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/jobsandvacanciesintheuk/april2024

Will 2024 even worse than 2023? HMRC’s UK Property Transactions Statistics showed that in February 2024, transactions of residential properties was just 83,000. This is -5.6% lower than 12 months ago (February 2023)

March Retail Sales “Unexpectedly” low https://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsales/march2024

GOOD NEWS! RoPA (Regulation of Property Agents) is dead MINISTER: Regulation of estate agents dead in the water 

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