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
Category: 5 Fact Friday
5 Fact Friday 8 March – Great news
5FF 8 March 2024 Jan 2024 Transactions fall 10% on year earlier, 20% on December. https://www.gov.uk/government/statistics/monthly-property-transactions-completed-in-the-uk-with-value-40000-or-above/uk-monthly-property-transactions-commentary 2023 Mortgage Lending lowest in 50 years – UK Finance https://ukfinance-newsroom.prgloo.com/news/affordability-pressures-push-down-mortgage-lending-and-savings-in-2023 UK Spring Budget 2024 – CGT Cut from 28 to 24%, Stamp Duty holiday ends, Holiday Lets tax break ends https://www.gov.uk/government/publications/spring-budget-2024/spring-budget-2024-html#:~:text=a%20timely%20manner.-,6.6%20Housing,-Barking%20%E2%80%93%20The OBR: 2026 before house prices rise https://www.telegraph.co.uk/money/property/house-prices/falling-interest-rates-to-drive-house-price-recovery… Continue reading 5 Fact Friday 8 March – Great news
Five Facts for Frustrated First-Time Buyers
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
The Week in Housing: Up, 99, Up, Nothing, Boom.
5FF Feb 23 2024 Rightmove’s “Asking Price” Index Up: https://www.rightmove.co.uk/news/content/uploads/2024/02/Rightmove-HPI-19th-February-Final-.pdf Hunt mulling 99% taxpayer-guaranteed mortgage lending https://www.ft.com/content/ce643bfa-d4a9-4d85-b28c-6cc0fceba62f Lenders Raise Rates https://www.bbc.co.uk/news/business-68374500 Bank of England nothing burger makes big headlines https://www.reuters.com/world/uk/bank-englands-bailey-sees-signs-uk-economy-upturn-2024-02-20/ BestAgent “People’s” open source House Price Index targets overvaluing culprits and beats hackers https://bestagent.property/hpi
The Week It All Changed.
5 Fact Friday – 16 Feb 2024 ONS December House Price Index continues to be confuseless. https://www.gov.uk/government/statistics/uk-house-price-index-for-december-2023/uk-house-price-index-summary-december-2023 January Inflation Unchanged Again at 4.2%: https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/january2024 GDP – We’re officially in Recession: https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/octobertodecember2023 GDP Per Capita – We’ve been in recession for 2 years already: https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/octobertodecember2023#:~:text=%2D0.2-,Source%3A%20GDP%20first%20quarterly%20estimate%20from%20the%20Office%20for%20National%20Statistics,-Notes Commercial Property Debt Time-bomb close to detonating: https://www.businessinsider.nl/commercial-real-estate-is-in-big-trouble-and-the-problems-may-have-major-financial-fallout/ Bonus fact, for… Continue reading The Week It All Changed.
Everything’s Fine! No. No it’s not.
Five Fact Friday – 9 Feb 2024 House Prices Up! *NOT* https://www.halifax.co.uk/media-centre/house-price-index.html RICS – “The worst is over!” *NOT* https://www.rics.org/content/dam/ricsglobal/documents/market-surveys/uk-residential-market-survey/January-2024_RICS-UK-Residential-Market-Survey.pdf Mortgage Rates UP. https://www.forbes.com/uk/advisor/mortgages/2024/02/08/mortgage-updates/ Mortgage Arrears UP. https://www.ukfinance.org.uk/news-and-insight/press-release/mortgage-arrears-and-possessions-figures-q4-2023 Valuation Requests Record High https://www.rightmove.co.uk/news/articles/property-news/home-valuations-hit-new-record/
Festive Final Five Fact Friday of 2023
5FF 1 Dec 2023 Fact 1: Bank of England October Mortgage approvals up. (They couldn’t have got much lower). https://www.bankofengland.co.uk/statistics/money-and-credit/2023/october-2023 Zoopla Nov HPI. – 6 year supply high. £18,000 average discounts from asking price. https://www.zoopla.co.uk/discover/property-news/house-price-index/ Used car market crashing 4.2% in one month https://cardealermagazine.co.uk/publish/used-car-price-crash-continues-with-trade-values-falling-4-2-again-in-november/293687 Government botches leasehold reform legislation. https://www.thetimes.co.uk/article/bill-to-ban-leaseholds-doesnt-ban-leaseholds-ministers-admit-g9mvh27dw New legislation for property listings announced … Continue reading Festive Final Five Fact Friday of 2023
No New Stimulus. 5 Fact Friday 24th Nov 2023
5FF 24 Nov 2023 – The week of Jeremy Hunt’s Autumn Statement