Mortgage wars, falling rents, the week in housing.

5FF – 23 Aug 2024

House values are currently at 2003 levels. Nationwide.

House values (as opposed to prices) have never recovered their 2007 peak. (Nationwide)

We're currently at 2003 values.

16 years of not buyers factoring this in is coming home to roost now.

Calculating your return on investment in a property without factoring in inflation is… pic.twitter.com/mdiLh3hvIS
— Moving Home with Charlie (@moving_charlie) August 21, 2024

https://rationanalytics.com/uk/house-prices-inflation-adjusted

Rightmove Average Asking Prices fall between £700 and £15,000 in August

https://www.rightmove.co.uk/news/content/uploads/2024/08/Rightmove-HPI-19th-August-Final.pdf

Rents Start Falling

https://www.zoopla.co.uk/discover/property-news/rents-start-falling-in-major-cities

Much disbelief that London rents are ACTUALLY FALLING.

Even when people see this graph.

Yes it’s a rent inflation graph.

NEGATIVE inflation, circled, means nominal prices are actually DROPPING.

The disbelief is palpable, which may explain the lack of reporting. pic.twitter.com/FrZRs7BR1t
— Moving Home with Charlie (@moving_charlie) August 23, 2024

Rachel Reeves the Rent Raiser

Labour accused of ‘aligning with landlords’ and ‘heaping misery on families’ over social rent hike

https://www.bigissue.com/news/housing/labour-social-housing-rent-rise-rachel-reeves/

Mortgage rate cutting war hots up

https://www.standard.co.uk/business/mortgage-price-war-nationwide-hsbc-natwest-b1177737.html