Category: 5 Fact Friday

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 

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/

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.

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

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

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

5 Fact Friday 1 March 2024 99% taxpayer backed mortgages scrapped https://www.telegraph.co.uk/business/2024/02/29/hunt-scraps-99pc-mortgages-backlash-banks/ HPI Clown show Continues: Feb Zoopla DOWN and Nationwide UP https://www.zoopla.co.uk/discover/property-news/house-price-index/ https://www.nationwidehousepriceindex.co.uk/resources/qmn1j-hqwj8-ti2s7-y4bq3-rlicr Public HPI Spreadsheet: Up v Down: https://docs.google.com/spreadsheets/d/1tm4EzSBXTifKIRjPAoTUGW7td62SrPKee4jELjUxgzk/edit?usp=sharing January Mortgage Approvals up on Dec, but still -30% below long term norms https://www.bankofengland.co.uk/statistics/money-and-credit/2024/january-2024 https://www.bankofengland.co.uk/statistics/tables#:~:text=Number%20of%20approvals%20(NSA) 8 New House-builders being investigated by CMA for Price… Continue reading Five Facts for Frustrated First-Time Buyers