Economist Yanis Varoufakis said BoE had no alternative but to push interest rates to 6% to “stabilise the money markets” but added that it would “break like a toy the housing market”.
Purplebricks, which yesterday announced plans to reboot its controversial ‘commisery’ campaign urging vendors not to instruct commission-based estate agents, has seen its share price slump.
This acquisition further demonstrates the estate agency’s commitment to strengthening the firm’s market share throughout the local area.
The former agent has died in hospital after a short illness.
Will the housing market crash? MAB’s Ben Thompson hopes the recent property sector turmoil is rectified, “and we return quickly to a normal market”.
The prime minister is under growing pressure to change course on her tax and borrowing plans.
The firm has grown its managed portfolio by 66% following their acquisition of properties from the well-established independent agency.
Tenants and landlords face ever growing costs.
The government needs to step in to mandate reforms that promise to revolutionise the home buying and selling process, a roundtable organised by the CLC has heard.
Home buyers are successfully renegotiating asking prices down by up to 10% over concerns of mortgage payments increasing, brokers say.
Analysts have warned further interest rate increases may cause house prices to tumble as increased monthly mortgage costs slash home buyers’ spending power.
Snippets of property industry news: Senior changes at Chestertons; Knight Frank reveals replacements for departing head; Restructure of directorship at NEXA.
Property purchasers with mortgages face major hit to buying power as interest rates rise .
UK property sellers have cited rising interest rates as a top motivator for deciding to put their home on the market now.
The new Chancellors office will be the network’s 58th branch.
The supply shortage will inevitably lead to rising rent values.
The charter is a set of guiding principles for property owners, managing agents or hosts.
A number of lenders have now suspended mortgage deals after a drop in the pound fuelled forecasts of rising interest rates.
The new prime minister has been in power for just a matter of days and she’s already being trashed by the left, the Twitterati and the mainstream media. Why?
The changes have been brought forward as a result of changes to stamp duty land tax announced by the UK government in last week’s financial statement.
Buy-to-let landlords are already under immense pressure owed to tax and legislative changes.
Rightmove has warned that the average monthly mortgage payment for a household buying a first-time buyer home would rise to £1,302 if the average mortgage rate rose to 6%.
The 2023 Best Estate Agent Guide has launched online today.
Sir Keir Starmer’s pledge on housing has been welcome by homebuyers.
The Bank of England has suggested that it is prepared to increase interest rates in response to the drop in the value of the pound.
Estate agents report that the winds are still blowing in the seller’s favour, if not quite as strongly as before.
Unsurprisingly the latest data from Hamptons reveals that increasing interest rates are eroding the profitability of buy-to-let for mortgaged landlords in the sector.
There could be turmoil in the housing market if UK interest rates rise toward 6% by next summer, as the markets are currently pricing.
All agents must adapt to the rule changes coming into play on 1 October 2022.
