Property asking prices have dipped as home sellers scramble to agree deals before the end of the stamp duty holiday, new figures suggest. Rightmove said prices for flats and houses advertised between 6 December and 9 January were down 0.9% on the previous month. Rightmove reported that the market was still busy, with the numberContinue reading “House prices dip as sellers race to agree deals before end of stamp duty holiday”
Bars are closing. Restaurants are seeing bookings cancelled. Retailers are worried about the impact of tightened Covid-19 restrictions on their businesses in the run-up to the crucial period. Everywhere there are signs of an economy rapidly losing momentum after its summer growth spurt.
Even as the EU’s chief Brexit negotiator Michel Barnier stressed the bloc’s willingness to compromise to reach a deal with London, Boris Johnson’s earlier insistence on letting his country crash out of the EU still seems like the most probable option. If Johnson sticks to his words, the decision will sow chaos through the delicate supply chainsContinue reading “Brexit, coronavirus, and the economic crash buffet Britain’s housing market”
Buyers risk missing the Help to Buy and stamp duty deadlines. Nearly one in four agreed sales has collapsed so far this month.
Pent-up demand following lockdowns, a temporary tax cut, record low interest rates and government support for workers and mortgage holders have spurred a rebound that’s taken analysts by surprise. The average price of a UK homesoared to an all-time high in September, according to leading mortgage lender Nationwide, despite a pandemic-induced recession, rising joblessness and fears that a second coronavirusContinue reading “Why record UK house prices could be falling again soon”
A grim forecastWill your home be worth less in 12 months’ time? Two in five sellers think so, according to a YouGov poll, and they expect the coronavirus pandemic will wipe £7,750 on average off the price of their property.
Calls for unity to tackle the current health crisis may ultimately be extended to housing and real estate as well.
Housing Market During Lockdown
Coronavirus crisis continues to affect transactions as restrictions are eased.
Home buyers cut their offers as they fear house prices will fall – and sellers are nervous too. Agents are also reporting a jump in buyers trying to renegotiate Buyers say house prices are forecast to fall and they take big risks proceeding Buying and selling properties has been near impossible during lockdown, with aroundContinue reading “What will happen next to the property market?”