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The Latest Breaking News from Lucian Cook

UK Mortgage Market Cools as New-Home Approvals Drop 15% in May

In May, UK mortgage approvals hit an 18-month low at 56,205, as rising interest rates and economic uncertainty deterred buyers. Despite this, house prices continued to rise, creating a complex housing market.

International Business Times UK

Ten years on, how Brexit hit London house prices

London’s property market was booming… until the 2016 vote. But, asks Anna White, was the Leave result the only culprit for the dip?

Evening Standard

Over-60s hold £3.84 trillion of housing wealth in UK, property firm estimates

Older homeowners hold ‘high proportions of both owner-occupier and buy-to-let housing wealth’, Savills said.

Evening Standard

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Older generations ‘holding onto most of the UK’s housing wealth’ as market stalls

Savills estimates the over-60s collectively hold a staggering £3.84 trillion in housing equity in the UK

The Independent UK

‘I don’t live in a mansion. It’s a 1930s house’: Richmond residents react to council tax rise

Rachel Reeves’s new council tax surcharge on homes worth £2m or more earns mixed reception in well-heeled London borough

The Guardian - UK

How could council tax change in budget – and who would be hardest hit?

Critics say current system is a ‘dog’s dinner’ – with homes in Blackpool paying more than in one of London’s wealthiest boroughs

The Guardian - UK

Are London house prices going up or down in 2025? It all depends where you live

In the strangest market in living memory, here’s your guide to what is happening to the value of your home, whether it’s a zone one penthouse or a suburban semi

Evening Standard

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Baby Boomers hold more than half of the UK’s housing wealth

Savills also estimates the demographic still has around £60bn in outstanding mortgage borrowing

The Independent UK

Baby boomers are ‘sitting on £2.89 trillion of net housing wealth’

Millennials and Gen-Z have had ‘less opportunity to work their way up the housing ladder profitably’

Evening Standard

UK households spent a record £217 billion on housing costs in 2024

Housing costs were estimated by Savills to have been £8.6 billion higher last year than a previous peak in 2016

Evening Standard

Record £217bn spent by UK households on housing costs in 2024, study suggests

Housing costs were estimated by Savills to have been £8.6 billion higher last year than a previous peak in 2016, when adjusted for inflation.

The Independent UK

‘Much-needed confidence boost’ for home buyers as mortgage rates fall

The typical borrower on a tracker deal will see their monthly payments decrease by £28.98 following Thursday’s base rate cut.

The Independent UK

'Buyer’s market’ predicted for next year with higher negotiating power and more house sales

First-time buyer activity could be ‘front-loaded’ in 2025 and increasing numbers of mortgaged owner-occupiers may return to the market

Evening Standard

Why property experts are predicting 2025 will be a ‘buyer’s market’ with sales boom

First-time buyer activity could be ‘front-loaded’ in 2025 and increasing numbers of mortgaged owner-occupiers may return to the market, experts said.

The Independent UK

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Evening Standard

Property values fall in prime central London amid post-Budget caution for wealthy buyers

The PCL market has dipped as wealthy buyers digest the implications of the Budget

Evening Standard

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

The Independent UK

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.

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The Guardian - UK

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

Evening Standard

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

The Independent UK

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

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.

Evening Standard

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

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

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