House prices rose 10.3% in November but fell month on month for first time since 2021

House price inflation at 10.3% is still in double digits, official figures show, but property values fell for first month since October 2021 The average UK house price is now £295,000 according to the ONS Properties added  £28,000 over the 12 months to November 2022 Mortgage rates soared in October but many think the worst is … Read more

Mortgage lending falls to lowest since June 2020

Mortgage approvals fell by a fifth in November to the lowest figure since June 2020, as buyers reconsidered house purchases Mortgage approvals fell to 46,075 in November from  57,875 in October Experts say slowdown is due to buyers ‘taking stock’ of market amid rising rates  Mortgage product choice is down 32% compared to last January  By Fran … Read more

A million first-time buyers delay house purchases due to mortgage rates and cost of living

The cost-of-living crisis has forced more than a million hopeful first time buyers under 45 years old to put their plans on hold, a new survey by Aviva has found. One in five of those surveyed said that the cost-of-living crisis and inflation were making buying a house unaffordable. The survey, focused on under 45s … Read more

Rightmove: Asking house prices dip and market will return to ‘normal’ in 2022

The frantic pandemic property market will ease and return to ‘closer to normal’ but house prices are still expected to rise 5 per cent in 2022, Rightmove said today. The typical property asking price dipped in December, down 0.7 per cent, or £2,234, according to the property listings portal giant. The typical home coming fresh … Read more