An overview of the activity that’s taking place within the residential property market. Keeping track of what’s happening with housing is important for conveyancers to build knowledge and plan developments within your practice. If you have conducted research or would like us to report on particular figures, please email [email protected].
The average price of property coming to market has hit a new record for the fourth consecutive month, rising to £367,501. This month’s increase of 2.1% (+£7,400) is the highest at this time of year since May 2014, and marks a national jump of £55,551 in asking prices in the two years since the housing […]Read More
Latest ONS figures show that the average house price remained at a record high of £278,000 in March, up £24,000 in a year. Average house prices were up 9.8% in the year, down from 11.3% in February, and show a reduction since peaking at 13.3% in June last year. Detached house prices were up 13.7%, […]Read More
Older homeowners accessing the value held in their homes via lifetime mortgages and other forms of equity release are directly adding nearly £1.8 billion in GVA across the UK economy, according to a new report from Legal & General and the Centre for Economics and Business Research (CEBR). Spending funded by equity release is further […]Read More
The April RICS Residential Market Survey shows that would-be buyers are still on the hunt for a new home, whilst stock levels and new listings remain scarce. This means that house prices continue to be pushed higher across all parts of the UK. This month +10% of respondents reported a rise in new buyers’ enquiries, […]Read More
The latest mortgage approval statistics from the Bank of England (BoE) have been published. In its most recent release the figures show that mortgage approval levels dipped by -0.4% between March and February of this year. Figures were also -14.5% lower when compared to the same time last year. Experts from around the industry have […]Read More
April’s Halifax House Price Index (HPI) reveals average prices are up 10.8% in a year, to a record high of £286,079. The latest Halifax HPI report shows that house prices increased by 1.1% in April, and is the tenth consecutive monthly rise, the longest run since 2016. Prices have now increased by £47,568 in two […]Read More
The Nationwide House Price Index for April has been released, revealing a slight slow at 12.1%. Despite the slowing growth rate however, Nationwide’s latest House Price Index shows that the market is now enjoying its 11th consecutive month in double figures. In April the average price hit £267,620, up £28,789 since last April, and the […]Read More
The latest Rightmove HPI data shows that despite growing economic headwinds, the 2022 market continues to set new milestones for price and activity levels. The price of property coming to market has hit a new record high for the third consecutive month. Month-on-month prices have risen by an average of 1.6% (+£5,537), and over the […]Read More
March HMRC monthly transaction data shows that while the number of residential transactions are down on the previous year, month-to-date levels continue to increase by almost 20% as we move further into the Spring. Today’s HMRC data showed that the cost of living crisis is yet to impact figures as provisional non-seasonally adjusted property sales were 110,990 […]Read More
Spring has reportedly sprung in the UK property market with the latest RICS Residential Market Survey showing the number of new homes listed for sale has risen for the first time in twelve months, despite ongoing caution over the rising cost of living and higher interest rates. In March, +8% of respondents reported a rise […]Read More
HM Land Registry’s monthly price index for February reveals average house prices have increased 0.5% since January 2022. Annually an increase of 10.9% has been tracked, valuing the average property in the UK at £276,755. In England, February data shows that on average, house prices have risen by 0.9% since January 2022. The annual price […]Read More
The latest research by the new-build sales optimisation platform, Unlatch, has revealed that the impact of the Help to Buy scheme within the new-build sector has been in slow decline, despite Help to Buy transactions still accounting for a sizable proportion of homes delivered by the nation’s three biggest housebuilders. Launched in 2013, Help to […]Read More
Six months on from the end of the Stamp Duty Holiday, the residential property market appears to be extremely buoyant. House prices have risen at the fastest rate for many years. Although average house prices started to grow slowly at the beginning of January, they grew nonetheless and may continue to grow for the foreseeable […]Read More
Home moving platform, Stipendium, has revealed that the average cost of a mortgage deposit on a first home has climbed by 54% in the last decade, pushing homeownership further out of reach for the nation’s first-time buyers. Stipendium analysed the current cost facing first-time buyers when it comes to a mortgage deposit and how this […]Read More
Halifax has published its latest House Price Index for March. The index shows that house prices increased by 1.4% in March, the largest monthly increase in six months, climbing by 11% month-to-date. Average house prices are now at their highest since mid-2007. The average house price, according to the Halifax HPI, now stands at a […]Read More
Trade and representative bodies representing the legal, surveying, estate agency and property management sectors, including the Conveyancing Association (CA), have today (31st March 2022) launched a new version of the BASPI – the Buyer’s and Seller’s Property Information form. The BASPI, developed by the upfront information working group of the Home Buyers and Sellers Group […]Read More
Nationwide’s February House Price Index (HPI) reveals that annual UK house price growth was up by 1.7% month-on-month, increasing to 12.6% in February, from 11.2% in January. The index also reveals that average house prices now exceed £260,000 for first time, and the price of typical home is now 20% higher than in February 2020. […]Read More
Today’s Conveyancer in partnership with Women in Residential Property is delighted to offer our readers an exclusive 20% discount on tickets for the next WIRP lunch which will take place in London on 21st April at 12pm. You do not need to be a WIRP member to attend their events and the discount code is […]Read More
When it comes to the process of conveyancing, I’ve written before that the industry is not always singing from the same hymn sheet, and that presents a problem. While we might like to think we can all see the value, for example, in the provision of upfront information, greater transparency, a push towards certainty, etc, […]Read More
The latest Homebuyer Hotspots Demand Index by the estate agent comparison site, GetAgent, has found that homebuyer demand fell during the first quarter of the year, following the final curtain for the stamp duty holiday in Q4 of 2021. GetAgent’s Hotspots Demand Index monitors homebuyer demand across England on a quarterly basis. Current demand is […]Read More
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