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.
Category: Blog
5 Fact Friday 12 April
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
An Easter Feast of Housing Guff
5 Fact Good Friday 29 March 2024 Down valuations ‘rearing their head again’ says big property firm MPs launch inquiry into home buying and selling proce… https://www.zoopla.co.uk/discover/property-news/no-further-house-price-falls-expected-this-year/ https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/quarterlynationalaccounts/octobertodecember2023 https://www.ft.com/content/bef934b4-7474-4381-8195-447d5346dc1f ONS revises down three years of house price readouts. https://x.com/moving_charlie/status/1772263638360887735?s=20 South East
5 (7) Fact Friday 22 March 2024
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
8 Reasons UK House Prices Are Collapsing in 2024
8 Reasons UK House Prices Are Collapsing in 2024
5 Fact Friday the Ides of March
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
A “cult” of kindness.
When unscrupulous debt-brokers call it a “cult” for wanting affordable homes for everyone, you can see the nature of the real problem society faces. These are the ones who don’t see the problem. They’re also the ones who cry “buyer beware” as they sell overpriced lifelong obligations to people and call it “target”. Then there… Continue reading A “cult” of kindness.
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
2024 Spring Budget Boost for Affordable Housing
The lack of help for first time buyers or other government stimulus is the best thing that could have happened. What goes up, must come down. Except house prices, it would seem. The chances of buying a home have continued to escape more and more would-be home buyers. The average age of a first time… Continue reading 2024 Spring Budget Boost for Affordable Housing
If we fix housing first, we will be better placed to fix everything else.
Why today’s budget won’t fix the housing crisis (and what will). Today is budget day. An opportunity to help the housing crisis. The housing crisis is a social crisis. It started with selling off social housing, then not replacing that social housing. So now we don’t have enough social housing. As a result, we the… Continue reading If we fix housing first, we will be better placed to fix everything else.