Five Fact Friday 30 Aug 2024 Zoopla HPI shows 7 year record high listings and sale delays for price droppers https://assets.ctfassets.net/02vwvgr6spsr/5w99HETUtORhsbw5XOIVBj/69ec7d1266bcde10d4680b4994fe8f37/HPI_Aug_2024_-_ZP.pdf Nationwide reports small fall in average mortgaged transaction index value (aka ‘house prices’) ONS Housebuilding Data shows Q1 Housebuilding at 50% of gov target https://www.ons.gov.uk/peoplepopulationandcommunity/housing/datasets/ukhousebuildingpermanentdwellingsstartedandcompleted UK House Prices Post Surprise Fall Despite BOE Rate… Continue reading Mortgage Approvals Jump to highest in 2 years
Category: 5 Fact Friday
Mortgage wars, falling rents, the week in housing.
5FF – 23 Aug 2024 House values are currently at 2003 levels. Nationwide. 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 Rachel Reeves the Rent Raiser Mortgage rate cutting war hots up https://www.standard.co.uk/business/mortgage-price-war-nationwide-hsbc-natwest-b1177737.html
Weekly housing market update 16th August 2024
5 Fact Friday 16 August 2024 Rayner scraps Tory plans to prioritise British citizens for social housing https://www.telegraph.co.uk/politics/2024/08/10/angela-rayner-social-housing-migrants-drop-restrictions Q2 Mortgage claims for possession jump 34% from the same quarter in 2023. https://www.introducertoday.co.uk/breaking-news/2024/8/dramatic-rise-for-mortgage-possession-claims–government-data Monthly jobless claimant count spikes to highest level since 2009 https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/august2024 National average time for sellers to find a buyer rises to 72… Continue reading Weekly housing market update 16th August 2024
A mixed bag for housing – 5FF 9 August
Five Fact Friday 9 August 2024 Bloomberg reports signs of a house price recovery https://www.bloomberg.com/news/newsletters/2024-08-08/there-are-tentative-signs-of-a-uk-house-price-recovery Halifax average purchase price of its mortgage business rises 2% year on year https://www.halifax.co.uk/assets/pdf/july-2024-halifax-house-price-index.pdf RICS says “outlook brightening” https://www.rics.org/news-insights/market-surveys/uk-residential-market-survey Zoopla “20 minute offer” survey article https://www.bbc.co.uk/news/articles/credj9geenno Persimmon New Build Forecast Improves Link to Zoopla boss’s post on the end of… Continue reading A mixed bag for housing – 5FF 9 August
Weekly housing market update 2nd August 2024
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
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.
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.