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The Latest Breaking News on Real Estate

UK ‘hurtling into mortgage disaster’ as rates near highs seen during Truss turmoil

‘No one’s at the helm of the ship, we don’t know where we’re going to end up,’ warns one mortgage broker

The Independent UK

Mum breaks her nose falling over bump in pavement as developers say 'it's not a hazard'

Sharon Clarke, from Longbridge, Birmingham, complained to property developers St Mowden, which said 'no obvious hazards' were found at the site where Sharon fell

Daily Mirror

RBA says jobs market too tight to control inflation

Australia has managed to engineer full employment but the extreme competition for workers risks keeping inflation higher for longer.

AAP

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Midlothian house owner wins appeal to turn it into 'much needed' flats

The council's own Local Development Plan has guidance on housing having sufficient garden space for residents but this was questioned by one councillors who pointed out not everyone wanted a garden

Edinburgh Live

Guidance value to be revised after four and a half years

The Department of Stamps and Registration has already started reassessing property values and will soon come out with a draft of the new guidance values.

The Hindu

Victoria to consider rent caps and taxes on Airbnb owners to ease rental crisis

Exclusive: Greens will support Labor’s state budget in exchange for measures as Yarra council creates emergency fund to help with cost of living

The Guardian - AU

Is the UK heading for its ‘biggest ever’ house price crash?

Homeowners are “on course for a brutal reckoning”, say experts, as the UK mortgage crisis risks triggering the largest house price crash on record.

The Week

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10 Cities with the Best Home Buying Deals This Summer

New data from Realtor.com shows national home price average finally dropping, with most relief concentrated in markets with overheated prices during COVID-19 pandemic.

Kiplinger

Hargreaves Land deal paves way for major mixed-use scheme for Lincolnshire

Hundreds of new homes as well as high-value employment, community and leisure space will be created at Lincolnshire Lakes

Birmingham Post

‘Mortgage stress’: New home owners squeezed hardest as repayments skyrocket

Many new homeowners could see half their incomes consumed by mortgage repayments in coming months as the RBA hikes rates.

The New Daily

Ghost shopping mall to be demolished before concrete redevelopment plans are agreed by council

The site was earmarked by the last administration for a replacement for the Citadel Leisure Centre.

Daily Record

Students claim they had to flee their mouldy rented house after the ceilings collapsed twice

A lettings agency has suggested one or more of the students was to blame for the leaks, a claim the occupants deny

Wales Online

71% fall in number of interest-only mortgages outstanding since 2012

The stock of outstanding interest-only mortgages fell by 8% in 2022, compared with the end of 2021, UK Finance said.

The Independent UK

Wealth management giant St James's Place signs decade-long deal for new Spinningfields office

St James's Place is a FTSE 100 company

Birmingham Post

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Daily Record

Bargain Scots flat goes on sale for same price as garage in London

The one-bed property in Alexandria, West Dunbartonshire, requires some TLC but could turn a tidy profit for the right buyer.

The Independent UK

Bristol tenants facing ‘Wild West’ rental market, says mayor

Marvin Rees said there is a need for rent controls in the housing market as private tenants face some of the highest prices outside London.

Daily Mirror

Mortgage costs could rise by an average of £2,900 a year for 800,000 people

The Resolution Foundation predicts that the Bank of England's base interest rate could peak at nearly 6% by next year - currently, the base interest rate is 4.5%

Manchester Evening News

Government 'considering prioritising British citizens for social housing list'

There are currently more than one million people waiting for social housing

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Birmingham Post

Clowes completes three warehouse units in north Nottingham

'With one occupier already lined up... we are looking forward to watching the business park flourish'

The Independent UK

‘This is going to sting’: What would a mortgage crisis mean for homeowners and renters?

Current rates of nearly 6 per cent causing equivalent ‘stress’ to double-digit rates of 1980s, Andy Gregory writes

The Guardian - UK

Sunak says no extra help with mortgages as fixed rates climb to 6%

Prime minister says no new support available for households struggling to pay loans

The Conversation

Government's housing fund legislation delayed by Greens-Coalition alliance

The Greens and the Coalition have teamed up again to present a vote being taken on the government’s $10 billion Housing Australia Future Fund.

Wales Online

Maindy Park land swap application to pave the way for new school is 'immiment', says Cardiff council

If approved by the Charity Commission, the land swap will pave the way for a new school

Evening Standard

Average two-year mortgage interest rate hits 6% as Rishi Sunak rules out homeowner help

The average 2-year fixed rate mortgage rate climbed to 6.01% on Monday in a fresh blow to homeowners and first-time buyers

Evening Standard

Average price tag on homes coming onto market falls for first time this year, says Rightmove

The spring price bounce has quickly turned into an earlier-than-usual summer slowdown, Rightmove said

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