The UK housing market has faced a period of significant headwinds, with elevated mortgage rates, a sluggish economy, and a cost-of-living crisis all contributing towards a gloomy picture. Indeed, the most recent official data released by the Land Registry are particularly notable, demonstrating that average UK house prices fell by 2.1% on an annual basis in

Please note: the figures in the report below were published before the Government announced additional measures to protected mortgage holders on 23 June. These measures will likely reduce the number of mortgage repossessions over the coming 12 months. UK mortgage holders just can’t catch a break at the moment. Gilt yields, which had been trending

I was recently asked to give a briefing on the UK property market for a range of foreign investors, mainly from South East Asia. This is an expanded version of some of my comments. Investing in the UK Since the Brexit vote many overseas investors have downgraded the UK. Simon French of Panmure Gordon estimates

The volatility in the UK mortgage market has yet again intensified as major banks swiftly withdraw their mortgage offerings, creating more uncertainty for potential homebuyers and homeowners alike. April’s higher-than-expected inflation reading has unsettled the recent steady falls in fixed mortgage rates, highlighting affordability as the primary concern for the housing market. With the Bank

Data released by the Office for National Statistics (ONS) this week provide rich insight into the nation’s recent experience with financial vulnerability. [1] The data, covering September 2022 to January 2023, reveal that respondents’ housing status is one of the strongest predictors of individuals’ likelihood of experiencing some form of financial vulnerability, even when controlling for

Rising interest rates spell disaster for these debt burdened homeowners Older millennials are the age group most vulnerable to financial problems after taking on disproportionately large debts when interest rates were low. Buyers in their late 30s took out the largest mortgages in the 2021-22 financial year and will be under the most pressure when

Legal & General Home Finance customers continue to use property wealth to provide financial support for families and to invest in their homes. The desire to help loved ones will likely remain consistent throughout 2023. Lifetime mortgage customers are continuing to use the value of their property to help financially support their families and to

Sellers and buyers are returning but have very different expectations Crystal balls had been polished, a mini-budget had wreaked havoc, the economy was tipping into recession and there was only one way that property prices could go — and that was down. Then, amid the reports of thousands of pounds being shaved off prices by

Capital Economics expects prices to fall by 12% through to 2024, the Centre for Economic Business Research believes that prices will fall by 8-10% during 2023, and Zoopla says that if the market falls by 5%, we will see most of the “current over-valuation reversed by December 2023” The truth is that some or none of these pricing forecasts

House prices are widely expected to fall this year, as soaring mortgage rates substantially cut how much buyers can borrow. But there is a wide gulf between the predictions that various property experts have issued. They range from falls of 12pc, forecast by analysts Capital Economics and Oxford Economics, to modest slumps of 1pc to

2023 doesn’t look a great year for the UK – but the shafts of light are that inflation will be on its way down and the economy should start to recover at some point in the year What did we get right last year? After an extraordinary year, I was amazed to find that our

Mortgage rates are set to hit a 20-year high while house prices will dive almost 8%, experts say. Rates have already topped 6% – the highest for 14 years – following Kwasi Kwarteng ’s bungled mini-Budget. But the Centre for Economics and Business Research said new two-year fixed-rate deals would reach 7.4% between April and June next year. That

Since at least November of last year, Cebr has stressed that 2023 would be a challenging year for the UK housing market. We currently expect prices to fall by 4.5% on average next year, with a peak annual contraction of 6.2% expected in Q3 2023. This comes amid sharp rises in mortgage rates, significant cost-of-living

Hopeful first-time buyers who are holding off on potential house purchases while they wait for prices to fall are in for a nasty shock. Interest rate rises will push up monthly mortgage costs so dramatically that even a 10pc house price fall will not make homes cheaper to buy than at the start of the pandemic, new analysis

Something happens the moment you buy a house. People assume that you’re rich in a way they don’t when you rent, or even when you own a flat. It is absolutely pointless trying to tell them that you’ve never felt poorer or worried about money more — they won’t believe you. Suddenly, because you own