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The Latest Breaking News from Lucian Cook

Average house price forecast to be £84,000 higher in five years’ time

Reduced monthly mortgage costs are now feeding through into improved confidence, property firm Savills said.

Evening Standard

The great mortgage gamble: Is now the right time to buy a home — or should you wait for a rate reduction?

With mortgage market volatility and interest rates still high, many would-be buyers are facing the same dilemma — is now the right time to buy? The experts assess the options

Evening Standard

Study shows how far the average house price stretches across Britain

From studio flats to five-bedroom houses, Savills looked at how much space the average house price of £340,837 could buy in different locations.

The Independent UK

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Savills says UK house prices will rise this year in U-turn on earlier forecast

Lower mortgage rates prompt property firm to change its outlook from 3% drop to a 2.5% increase

The Guardian - UK

Surge in homes coming on the London market recorded in run-up to Easter holidays

The recent increase in activity is a ‘positive sign’, Rightmove said.

Evening Standard

London's £1 million property: number of homes commanding seven-figure price tags shrinks as house prices fall

There were 12,280 houses — and their owners — ejected from the £1 million home crew in 2023

Evening Standard

Squeeze on home buyers’ budgets set to continue into 2024, say experts

But potential cuts to interest rates, as well as lower house prices in some locations, could provide house hunters with new opportunities.

The Independent UK

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Five-year house price forecast: how much could your London house be worth by 2028?

An average house in London could be worth over £70k more in five years time, but prices have further to fall first says Savills

Evening Standard

Average house price predicted to be £45,000 higher by 2028

The expectation of a gradual reduction in interest rates suggests a progressive restoration of buying power and recovery in demand, Savills said.

The Independent UK

One year since the mini-Budget: meet the Londoners caught out by ‘astronomical’ rent rises and mortgage mayhem

A year after the mini-budget and with another interest rate rise looming, we hear from Londoners coping with the stress of spiralling costs

Evening Standard

‘Very real risk’ that landlords could exit housing sector amid mortgage squeeze

Concerns have been raised about the impact of rising mortgage costs on landlords and renters.

The Independent UK

Spring bounce as home-buyer mortgage approvals rise in March

Some experts said the increase in mortgage approvals for house purchase is a sign of the housing market being more resilient than previously thought.

The Independent UK

Baby Boomers now own more than three quarters of nation’s property wealth

New statistics lay bare the huge generation wealth gap in London and how it has increased over the past decade

Evening Standard

London property forecast: capital predicted to be global ‘megacity’ with house prices 12 times incomes by 2037

With house prices expected to reach 12 times annual salaries, the capital is set to become one of the least affordable cities in the world

Evening Standard

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The Guardian - UK

Value of UK housing stock hit record £8.7tn in 2022

Annual rise of £425bn smaller than in previous two years, says Savills as it predicts fall in house prices in 2023

The Independent UK

Net UK housing wealth ‘exceeded £7 trillion for the first time last year’

The growth in house prices over the past three years has added considerably to homeowners’ ‘paper wealth’, Savills said.

The Independent UK

Weakest January for house sales recorded since 2015

Across the UK an estimated 96,650 house sales took place in January 2023, which was the weakest start for eight years.

Evening Standard

Property millionaires club grows as another 10,000 London homes receive seven-figure valuations last year

Research shows almost one in 10 London homes are now worth £1 million or more, but the number of new property millionaires is growing fastest in other parts of the UK

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Evening Standard

Property market forecast: as the cost of mortgages overtakes renting, should you buy a London home in 2023?

House prices may be falling but it is now cheaper to rent than to buy in the capital for the first time in 13 years. So should you jump in, or steer clear of a market in turmoil?

Evening Standard

Highest uptake in solar panels for five years as UK homeowners raced to beat the energy price hike

The majority of pre-war homes in England hold an EPC of D or lower.

Daily Mirror

See how much house prices could drop where you live - full list of areas

House prices could fall by 10% next year, according to experts at estate agents Savills — but how much property values will fall all depends on which region of the UK you live in

Evening Standard

Are London house prices about to crash? Warnings of ‘year of pain’ amid rising interest rates and inflation

The property market faces a ‘year of pain’, with a new two-year forecast estimating a 10 per cent drop for house prices. But how low will they really go?

The Guardian - UK

After an autumn flurry, is the UK housing market going to fall at last?

Estate agents are reporting a surge in activity – which may be explained by the interest rate rises looming this year

Evening Standard

Cost of living crisis: Will soaring bills encourage empty nesters with spare bedrooms to downsize sooner?

New research by Savills reveals how a spare room might equate to more than £100,000 for the capital’s over 65s

The Independent UK

Older homeowners ‘could potentially unlock £129,000 on average by downsizing’

Savills used Land Registry and English Housing Survey data to calculate the average amount of money that could be freed up by downsizing in England.

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