A fall in house prices is bad news – especially for the Conservative Party
1 year, 5 months ago

A fall in house prices is bad news – especially for the Conservative Party

The Independent  

It is a common fallacy, in any discussion of how “ridiculous”, “absurd” or “insane” house prices are, to assume that life would be better if housing were cheaper. The reason British house prices are falling is that interest rates are going up, which means that people are finding it harder to buy. The Independent would prefer taxes to take more of the strain from interest rates, but recognises that this is politically unthinkable with the tax burden already at a post-war high. Professor Abhinay Muthoo, a fellow at the National Institute of Economic and Social Research, told The Independent: “People who are already suffering right now will suffer more.” He is right, except that each month a new batch of fixed-rate mortgage deals expires and a new cohort of borrowers faces a sharp rise in costs. A fall in house prices is especially bad for Mr Sunak’s prospects at the election, as millions of voters feel – and indeed are – suddenly poorer.

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History of this topic

What’s really behind the surprise surge in house prices?
3 weeks ago

What’s really behind the surprise surge in house prices?

The Independent  

Sorry to make a soggy start to the week even more miserable, but it brings bad news for homebuyers. Nationwide recently trumpeted itself as the “first major lender to offer first-time buyers ability to borrow six times income, up to 95 per cent loan-to-value”. “The acceleration in house price growth is surprising, since affordability remains stretched by historic standards, with …

Why house prices are starting to fall
1 month, 2 weeks ago

Why house prices are starting to fall

ABC  

Sam Hawley: All focus this week will of course be on the US election and we'll be bringing you plenty of coverage. I mean, you know, what we've seen on a longer term perspective back, you know, I don't know, ever since I've been looking at it, you know, since the 60s or 70s, there's always been an ever increasing …

Will the general election impact house prices?
5 months, 3 weeks ago

Will the general election impact house prices?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Alongside its latest house price index, Nationwide researchers analysed house price data around recent …

With election looming, UK’s governing Conservatives seize on inflation fall to 2% target
6 months ago

With election looming, UK’s governing Conservatives seize on inflation fall to 2% target

Associated Press  

LONDON — Inflation in the U.K. returned to the Bank of England’s target rate of 2% for the first time in nearly three years, official figures showed Wednesday, a development that was seized on by the governing Conservative Party as evidence that its economic plan is “working” ahead of the July 4 election. But Conservative Prime Minister Rishi Sunak hailed …

House prices are falling, but what does the future hold for the market from here?
7 months, 2 weeks ago

House prices are falling, but what does the future hold for the market from here?

The Independent  

Britain’s housing market has turned hostile again, at least for sellers. It was possible to find rates close to 1 per cent in 2021, before the Bank of England imposed 14 consecutive interest-rate rises in an attempt to bring an inflationary spike under control. While the US and the UK are in very different places economically, that sort of sudden …

UK House Prices Decline for the First Time in Six Months
8 months, 2 weeks ago

UK House Prices Decline for the First Time in Six Months

Hindustan Times  

UK house prices slipped for the first time in six months in March, lender Halifax said in data that confirmed a setback in the property market’s recovery. “That a monthly fall should occur following five consecutive months of growth is not entirely unexpected particularly in view of the reset the market has been going through since interest rates began to …

House prices fell in March. Here’s why that shouldn’t surprise us
8 months, 3 weeks ago

House prices fell in March. Here’s why that shouldn’t surprise us

The Independent  

After showing some modest signs of life, Britain’s maddening housing market decided to resume its sulk in March. The Nationwide Building Society’s latest index showed a modest year-on-year rise of 1.6 per cent but a seasonally adjusted month-on-month fall of 0.2 per cent when compared to February’s prices. The latest positive news came from the British Retail Consortium, which said …

House prices continue to rise despite higher interest rates, inflation and cost of living
9 months, 3 weeks ago

House prices continue to rise despite higher interest rates, inflation and cost of living

ABC  

In short: Home values rose 0.6 per cent in February, with increases in every capital city except Hobart, according to CoreLogic. Home values rose 0.6 per cent in February, with increases in every capital city except Hobart, according to CoreLogic. "It's pretty unusual for economic conditions to be so weak but the housing market showing this really strong trend," CoreLogic's …

UK house prices have proven more resilient than expected, says Halifax
1 year, 2 months ago

UK house prices have proven more resilient than expected, says Halifax

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Many economists and financial markets predict that base rate …

Why are house prices falling?
1 year, 3 months ago

Why are house prices falling?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. With house prices in southern England often being higher …

Mapped: Areas in UK facing sharpest drop in house prices
1 year, 4 months ago

Mapped: Areas in UK facing sharpest drop in house prices

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Take a look at our map below for the areas …

House prices are falling, but here’s why it would be wrong to give up on bricks and mortar
1 year, 4 months ago

House prices are falling, but here’s why it would be wrong to give up on bricks and mortar

The Independent  

Homeowners can be forgiven for worrying about the news of a slump in house prices, but all is not doom and gloom. Whereas April and May’s hot inflation figures raised the prospect that the UK could be an outlier on inflation among advanced economies, prompting an ugly spike in borrowing costs, June’s reading largely allayed those fears. The Nationwide data …

UK homeowners get some respite as inflation falls by more than anticipated to a 15-month low
1 year, 5 months ago

UK homeowners get some respite as inflation falls by more than anticipated to a 15-month low

Associated Press  

LONDON — Inflation in the U.K. has fallen by more than anticipated to a 15-month low, official figures showed Wednesday, a development that offered struggling households hope that interest rates won’t rise as much as feared over the coming months. Although Dave Ramsden, deputy governor at the Bank of England, said inflation is still “much too high,” analysts said the …

Buying or selling? How to deal with rising mortgage rates and falling house prices
1 year, 5 months ago

Buying or selling? How to deal with rising mortgage rates and falling house prices

The Independent  

For millions of Britons who had plans to move house or get on the property ladder this year, the latest mortgage misery coupled with the cost of living crisis makes paints a grim picture. Ross Lacey, director and chartered financial planner at Fairview Financial Management, said: “As a homeowner, if you want to move then even if your property price …

Average house price falls 3.5% as mortgage rates keep climbing
1 year, 5 months ago

Average house price falls 3.5% as mortgage rates keep climbing

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Gardner added: “Moreover, despite the higher interest rates …

Could a house price slump reshape the next election?
1 year, 6 months ago

Could a house price slump reshape the next election?

The Independent  

Average UK house prices fell by 3.4 per cent in the year to May – the fastest annual fall since the 2009 financial crisis – according to the Nationwide building society. House prices edged down by 0.1 per cent in the month of May itself, and the average property price now stands at £260,736 – about 4 per cent below …

Sale of newly constructed homes falls by half; Housing minister concerned
1 year, 8 months ago

Sale of newly constructed homes falls by half; Housing minister concerned

NL Times  

Sales of new construction homes fell by half in the last quarter of 2022 compared to a year earlier, Statistics Netherlands said this week. The cause of the trend is likely due to the limited growth of new homes placed on the market, said CBS Chief Economist Peter Hein van Mulligen. “Then you get an interest rate shock: both buyers …

Priced out: young people needing housing face a closed door
1 year, 10 months ago

Priced out: young people needing housing face a closed door

Dutch News  

The papers are full of news about house price movements, new political drives and house building plans. Delft university housing systems professor Peter Boelhouwer calls it a ‘wicked’ market, where first time buyers and those on mid-level incomes get stuck in ‘a big poverty gap/trap.’ By 2022, he says, a two-income couple on an average income needed savings of €280,000 …

Priced out: young people needing housing face a closed door
1 year, 10 months ago

Priced out: young people needing housing face a closed door

Dutch News  

The papers are full of news about house price movements, new political drives and house building plans. Delft university housing systems professor Peter Boelhouwer calls it a ‘wicked’ market, where first time buyers and those on mid-level incomes get stuck in ‘a big poverty gap/trap.’ By 2022, he says, a two-income couple on an average income needed savings of €280,000 …

A 30 per cent house price fall 'unlikely' with RBA tipped to cut interest rates in late 2023
1 year, 11 months ago

A 30 per cent house price fall 'unlikely' with RBA tipped to cut interest rates in late 2023

ABC  

It's the question that most Australians want an answer to. Signs of a weaker housing market: property listings are 'abnormally low' Economists had been predicting a 15–20 per cent fall in property prices since the Reserve Bank started increasing interest rates in May. Shane Oliver says with house prices already down by about 8 per cent from their pandemic high, …

This is what the house prices fall could mean for you – and how bad it could get
2 years ago

This is what the house prices fall could mean for you – and how bad it could get

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Watching the …

What’s bad news for the economy may be good news for house prices
2 years, 1 month ago

What’s bad news for the economy may be good news for house prices

The Independent  

What’s bad news for the economy may turn out to be good news for borrowers – and for house prices. When the Bank of England increased interest rates to 3 per cent earlier this month, there was a market expectation that the peak rate would be 4.5 per cent or even 5 per cent next year. The implications for mortgage …

10 areas in UK where house prices are predicted to fall the most
2 years, 1 month ago

10 areas in UK where house prices are predicted to fall the most

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. New figures from house seller advice service PropCast shows demand …

A decade of rising house prices is over. The UK economy will feel the pain
2 years, 1 month ago

A decade of rising house prices is over. The UK economy will feel the pain

CNN  

London CNN Business — For years, home ownership in Britain has been a one-way bet. “The mini budget added a whole percentage point onto mortgage rates,” said Richard Donnell, executive director of research at online property portal Zoopla. The “mini” budget added a whole percentage point onto mortgage rates.” Richard Donnell, executive director of research at Zoopla Average two-year and …

UK house prices will fall by 8% next year, Lloyds predicts
2 years, 1 month ago

UK house prices will fall by 8% next year, Lloyds predicts

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} UK house prices …

UK house prices could plunge 15% because of soaring mortgage rates
2 years, 2 months ago

UK house prices could plunge 15% because of soaring mortgage rates

CNN  

London CNN Business — House prices in the United Kingdom could plummet by as much as 15% if the country presses ahead with its tax-slashing economic gamble. Credit Suisse said on Tuesday that UK house prices could “easily” fall between 10% and 15% over the next 18 months if the Bank of England aggressively hikes interest rates to keep inflation …

House prices to fall by as much as 15pc if interest rates hit 6pc
2 years, 2 months ago

House prices to fall by as much as 15pc if interest rates hit 6pc

The Telegraph  

House prices will fall by as much as 15pc as higher interest rates slash buyers’ spending power, economists have warned, while the number of homes sold risks collapsing from 1.2m per year to just 800,000. Capital Economics and Credit Suisse both estimate prices could fall by between 10pc and 15pc if interest rates rise to 6pc as financial markets predict. …

House prices fall by nearly £5,000 as value drops for first time this year, Rightmove says
2 years, 4 months ago

House prices fall by nearly £5,000 as value drops for first time this year, Rightmove says

The Independent  

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Indian House Prices to Fall 6% This Year, Risk to Downside Due to Covid-19, Says Study
4 years, 2 months ago

Indian House Prices to Fall 6% This Year, Risk to Downside Due to Covid-19, Says Study

News 18  

Indian house prices will fall more sharply this year than expected just three months ago amid surging coronavirus cases which are hurting demand in an economy fighting its deepest recession on record, a Reuters poll showed. The poll predicted average house prices to shrink 6.0% this year and 3.0% next year, which would be the first annual fall since records …

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