High interest rates have raised the financing costs for investors and have led to the weakening of the consumer sentiment.
Mortgage payments have gone up by 22% as compared to two years ago.
The price of an average UK home has gone up by 1.2% between April and May.
With household budgets getting squeezed amid the escalating cost-of-living crisis, the amount paid in rent by UK tenants is set to double up this year.
The 3.5% hike in this quarter is the second greatest quarterly rise over a decade.
Highlights,UK House prices rose at the fastest annual rate in June since 2004, despite expectations that rising concern over economic downturn, increasing interest rates and the cost-of-living crisis would dampen demand.,House price inflation increased by...
The recent fall in construction activity owed to a fall in the housing component.
Highlights,The growth of average UK house price slowed in June while hitting a new record high, as economic slowdown, rising interest rates and cost of living squeeze cooled the market.,UK annual house price growth slowed for third consecutive month from ...
London topped as the costliest UK city to buy a house, with the mean price now hovering at £534,977. This puts the house price to income ratio at 9.7 times, up by 0.7 since the start of the pandemic and 2.9 since 2007. The ratio is the highest across the
UK house prices have been hitting the roof lately, but the housing market is expected to cool down soon. According to the latest report by property website Rightmove, UK house prices have hit a record high level in June, but they are expected to de...