Charlie Lamdin answers a journalist’s questions. Q: Do you know of certain estate agents who over-value properties? Yes, most agents are reluctantly forced into over-valuing, because of the worst-offending, large agents who do it to extremes. London’s two largest agents are among the worst offenders, evidenced by the number of properties they never sell. Hint: “Dextons”… Continue reading Not a valuation
Category: Blog
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
The election is our only chance to fix housing, but we’re going to blow it – Charlie Lamdin
Vote for anyone but Starmer, or the housing crisis gets worse. Labour will not deliver on their promises, because they haven’t acknowledged the problems that have been standing in the way for decades. A Labour government means likely a decade more housing market deterioriation, whether you’re buying or renting. Therefore, to have any prospect of… Continue reading The election is our only chance to fix housing, but we’re going to blow it – Charlie Lamdin
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.