UK Housing market's limp gets worse - 5FF

5 Fact Friday – 26 July 2024

Watch Charlie’s weekly livestream commentary on the housing market

Asking price to sold price gap widens to 17%.

https://www.propertyreporter.co.uk/asking-to-sold-price-gap-continuing-to-widen.html

England

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

New Buy to Let purchases plummet by 50% in one quarter. https://t.co/LrLZ2Pg6rv
— Moving Home with Charlie (@moving_charlie) July 22, 2024

Kemi Badenoch schools Angela Rayner on impossible housing targets as new homes registrations plummet 23%

A fascinating 13 minutes of @KemiBadenoch enlightening @AngelaRayner about how she’s been stitched up on housing. One to put a pin in. pic.twitter.com/RSiine4PDw
— Moving Home with Charlie (@moving_charlie) July 19, 2024

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 1/3rd jump in number of businesses in distress

UK Businesses in “significant” or “critical” distress jump by one-third in a year. 😱

– Q2 602,000 businesses in “significant” financial distress, up 37% in a year.

– 41,000 businesses in “critical” financial distress, up 34% in a year.

If the future state of the economy is…
— Moving Home with Charlie (@moving_charlie) July 22, 2024

https://www.begbies-traynorgroup.com/news/press-releases/over-600000-uk-firms-face-financial-strain-amidst-challenging-economic-climate

Lender competition gets increasingly desperate with headline-grabbing fake (due to fee) 3.99% mortgage rate offered to 40% deposit holders (ie not most first time buyers)

https://moneyweek.com/personal-finance/mortgages/nationwide-cuts-mortgage-rates-as-they-dip-below-4-for-first-time-since-february