Tag

Uk Property Market

All articles tagged with #uk property market

real-estate2 years ago•3 min saved

UK Property Market Shows Signs of Recovery with Increased Demand from Second-Steppers

Experts suggest that now could be a good time to buy property in the UK as the Bank of England is likely done hiking interest rates and mortgage rates are expected to see small downward movements. Higher mortgage rates have led to a decline in house prices, making it a favorable time for buyers to negotiate on price. However, transactions have fallen by 23% this year, indicating a slowdown in the property market. The rental market is expected to remain tight, with rents continuing to rise due to factors such as high mortgage rates and affordability pressures.

via CNBC|

#bank-of-england #house-prices #mortgage-rates

real-estate2 years ago•1 min saved

"UK Housing Market: Cash Reigns as Buyers Opt for Home Purchases"

One in three home buyers in the U.K. are expected to pay cash for their property purchase in 2023, a significant increase from the average of 20% over the past five years, according to a report by Zoopla. The rise in cash buyers is driven by less favorable mortgage rates and is expected to continue in 2024. This trend poses challenges for buyers reliant on mortgages, as sellers often prefer cash transactions for their faster sales process. The high cost of borrowing is also cooling home prices across the U.K., resulting in the most significant slowdown in price growth since 2009.

via Mansion Global|

#cash-buyers #home-prices #housing-market-slowdown