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
There are lies, damned lies, and the Office for National Statistics. In the latest release, the ONS reported annual house prices to August 2023 actually ROSE 0.2%. https://www.gov.uk/government/statistics/uk-house-price-index-for-august-2023/uk-house-price-index-summary-august-2023 But the data in the image, taken from raw Land Registry data, shows annual average house price falls of -12.6%. Is there a cover up? Average House… Continue reading House Price Fall Cover-Up?
18 OCT 2023 – HOW WE GOT HERE – 20 years of stimulus, which has all now stopped. 5 House Price Boosting Artificial Stimuli That Have Now Ended QE Stopped https://www.bankofengland.co.uk/monetary-policy/quantitative-easing Help to Buy Stopped https://www.gov.uk/help-to-buy-equity-loan Stamp Duty Holiday Ended https://www.gov.uk/guidance/stamp-duty-land-tax-temporary-reduced-rates Covid Stimulus https://www.icaew.com/insights/viewpoints-on-the-news/2021/aug-2021/chart-breakdown-of-the-uk-governments-372bn-covid-bill Low Interest Rates https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp WHAT’S HAPPENING NOW (or 6-12 months ago)… Continue reading The Past, Present & Future of UK House Prices
September 2023 BestAgent House Price Index (beta) by Charlie Lamdin Housing market’s weak pulse shows autumn improvement The number of homes showing as “sale agreed” across England jumped by nearly 8% to 62,695 during the middle two weeks of September, reflecting the post-summer holiday seasonal activity increase we’d normally expect. However, transaction numbers remain substantially… Continue reading Autumn asking prices of ‘sold’ homes drop 3.5% in 2 weeks
We caught up with Charlie Lamdin, best known from ‘Moving Home with Charlie’ where he broadcasts live to his audience of 40,000 followers across all platforms, sharing insights on how to navigate the gauntlet of home moving, arming movers with knowledge and skill to better negotiate their way into their next home whether they are… Continue reading The Luxury Lifestyle List: Charlie Lamdin, housing market specialist and founder of BestAgent.co.uk | Luxury Lifestyle Magazine
Charlie Lamdin, property expert at Moving Home With Charlie: “Everyone is underestimating how many downward pressures there are on house prices, and how long they will remain in place. Even if there is the occasional month of ‘stabilisation’, we are at the beginning of a long downward trend in average house prices. Land Registry figures only include… Continue reading Land Registry Dec HPI – “a correction is looking increasingly likely” property and mortgage experts react – IFA Magazine