Property News

4th May, 2018, by David Hargreaves

Saturday 28 April

  • House prices rose by 2.6% in the year to April to reach an average price of £213,000, up from £211,625 in March.
  • The ONS has reported that the UK economy grew at its slowest rate since 2012 in the first quarter of the year, raising fresh doubts over whether the Bank of England will hike interest rates next month.

Monday 30 April

  • According to the latest housing market research, only half of Britons expect house prices to rise, down from 58% last year, meaning confidence in house prices has remained at its lowest level since 2013.
  • Data to be published today will show consumer confidence reached its highest since January 2017 in April, driven by a broad rise across perceptions of the health of household finances, job security and broader business activity.

Tuesday 1 May

  • Some 42% of homeowners believe extending their home makes more financial sense than moving, according to MoneySupermarket, which said just 24% believe moving is more beneficial.

Wednesday 2 May

  • The average price of a new-build home across England and Wales is now £338,694, 15.8% higher than buying an existing property.

Thursday 3 May

  • According to a report from the HBF and Glenigan, there were 351,169 planning permissions granted for houses across England in 2017, a 21% increase on 2016’s total.
  • Ahead of the Government crackdown on unfair ground rent increases, the number of houses sold under leasehold agreements soared last year, according to analysis of Land Registry data by the ONS.

Friday 4 May

  • The Post Office has launched its Family Link mortgage, a 100% deal for first-time buyers.
  • The National Institute of Economic and Social Research has predicted that the Bank of England will only raise interest rates every six months for the next two years, starting this August.

For further information on any topics presented in this week’s property update, please contact our office on 0115 841 1155.