Potential Turbulence Ahead for UK Property Market as Housing Prices See Sharpest Annual Decline in Nearly 14 Years
The property market could face more turbulence, with the most significant annual decrease in housing prices since July 2009, and increasing likelihood of interest rate hikes, reports Nationwide. The building society predicts a subdued near-term market, while other property analysts fear that buyers and sellers may see even more challenging times. The housing market’s recent […]
UK Mortgage Lender to Offer First 100% Loans Since 2008 Crisis
Skipton Building Society, a UK mortgage lender, is set to introduce a mortgage product targeting potential first-time buyers who are unable to save for a deposit. This initiative marks the first 100% loan offering by a mortgage lender since the 2008 financial crisis. In the aftermath of the crisis, mortgages without a deposit requirement became […]
UK House Prices in Surprise Rise in April
UK house prices rose by 0.5% in April after seven consecutive months of falls, according to the Nationwide building society. Economists had been expecting average prices to decrease during the month. Prices had been falling since August last year, after Liz Truss’s mini-budget sparked turmoil on financial markets and drove up borrowing costs. Nationwide is […]
This is Money Report with the (ONS) Highlights the Areas of the UK Where Property Values have Soared in the Last Decade
This year, it’s safe to say house price indices have painted a mixed picture of the value of our homes in Britain. While Halifax said last week that prices were ‘unexpectedly’ up 1.6 per cent annually, another survey, from Nationwide, claimed they had fallen 3.1 per cent — the biggest drop in 14 years. Many […]
Halifax Reports Unexpected Rebound in UK House Prices for February
According to Halifax, British house prices unexpectedly rose by 1.1% month-on-month in February, which could indicate improvements in consumer confidence and the mortgage market. This contrasts with the recent trend of declining house prices since the onset of the COVID-19 pandemic. However, other housing market indicators have not shown a similar improvement, and another lender, […]