How Sadiq Khan has been tackling London’s housing crisis so far – The Guardian (blog)

As part of his manifesto, Sadiq Khan pledged to more genuinely affordable housing for Londoners. Whilst it will take a long time to achieve this, he has prepared a strategic plan which includes planning incentives for private developers along with higher affordable housing targets, introducing a living rent, stopping the conversion of affordable housing and […]

UK mortgage approvals drop to 19-month low in August – Telegraph.co.uk

Growth in mortgage borrowing slows as sales decline following recent stamp duty changes and concerns following the results of the Brexit referendum. The British Bankers’ association report a 19th month low of house purchases in August 2016. This contrasts with the demand for consumer credit which risen by 6% over the past 12 months. UK […]

How consumer price inflation could hit house prices – The Week UK

There are conflicting reports on the effects of the recent Brexit vote on UK house prices. Properties in London have experienced drops as high as £2000 per day, however prices outside London has picked up. A fall in the pound and increasing inflation has increased the cost of the underlying capital used by banks for […]

Chinese buyers snap up 230 of Park One’s Macquarie Park apartments in hours – Daily Mail

A property developer in Sydney has sold more than 50% of it’s apartments in just a few hours. 230 apartments were secured, 20% by overseas buyers. However, economist Chris Richardson has commented that this may not be a good investment and expects a shakeout in the property market, due to the possibilty of rising interest […]

First Direct offers £50k unsecured loans sparking fears of new debt binge – Daily Mail

As charity StepChange sees a record number of people needing help with debt problems First Direct have raised the maximum amount that can be borrowed, as a non-secured loan, from £30,000 to £50,000 with competitors expected to follow suit. Experts fear that households may borrowing too much in a period of uncertainty. StepChange have reported […]

Foxtons’ property sales tumble by a third as London house buying cools – Telegraph.co.uk

UK estate agency, Foxton’s, has announced a profit warning as it’s property sales have dropped by a third in three months. The company’s share price is currently 42% below the level before the UK Brexit referendum. However, analysts believe the situation may improve if stamp duty rate are reduced in the Autumn statement. Foxtons’ property […]

House prices fall in months after Brexit – The Week UK

House prices dropped 0.5 per cent in three months following Brexit, according to the Halifax house price index. The average home price lowered by around £1,000 to £214,140, in contrast to growth seen in the first half of the year. The quarterly price drop was small compared with the 6 per cent record plunge suffered […]

House prices: First-time buyers in south-east must wait seven years longer to buy – The Week UK

A surge of new properties for rent may be responsible for a fall in house rental prices and what the Daily Telegraph has described as the market running out of steam. New rental prices averaged £910 a month in September, down 0.8 per cent from August, according to insurers HomeLet. A recent increase in stamp […]

Third of UK landlords have Brexit concerns – Mortgage Introducer

A third of UK landlords are concerned that Brexit will damage their ability to find future tenants, according to a National Landlords Association survey. Nearly two thirds believe Brexit will have no impact or are unsure, while just 5% believe it will have a positive effect. Responses varied regionally. Central London landlords were the most […]

Temptingly low two-year fixed mortgage rates may cost homeowners in the long run, broker warns – This is Money

Homeowners should be wary of cheap two-year fixed mortgage rates, according to one company of mortgage brokers. Changes to the economy caused by Brexit may make it preferable to lock in a good rate for longer. Even if interest rates stay low, economic instability may cause lenders to tighten restrictions on who may borrow money. […]