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The Latest Breaking News from Zoopla

OPINION - Sellers are finally accepting big discounts on asking prices – but don't expect a crash

If age is just a number, where the heck does that leave house prices? Inexperienced buyers (and given the irregularity with which people purchase property, that is most of us) are often intimated by the imposing number placed beneath that misleadingly wide lens money shot on Rightmove.

Evening Standard

Average rent in Great Britain up by more than a quarter since start of Covid

Rise due to shortage of properties has been worsened by soaring interest rates, Savills finds

The Guardian - UK

‘A buyer’s market’: average £18,000 knocked off UK property asking price, says Zoopla

Average discount stands at five-year high despite ongoing long-term shortage of homes for sale

The Guardian - UK

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£18,000 typically ‘shaved off’ asking prices to achieve house sales – Zoopla

In London and the South East, sellers are discounting properties by around £25,000, according to new figures.

The Independent UK

House price falls: London sellers accepting hefty price reductions in buyers' market

Higher mortgage rates and an increased supply of homes have seen buyers achieve sizeable discounts

Evening Standard

Buying in London: the 10 most affordable boroughs for homebuyers in 2023

New research has pinpointed the most affordable places to buy in London, where two people on average local salaries would need to borrow at the lowest income-to-house price ratio

Evening Standard

Cashing in? The mortgage-free landlords who are raising the rent anyway

Majority of letters with no exposure to rising interest rates are demanding more money in new tenancy agreements

The Guardian - UK

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London's downsizing problem: a third of London Boomers have bigger homes than they need but nowhere to move

A third of London’s over-65s admit to living in a home that’s bigger than they need - so why aren’t they downsizing?

Evening Standard

German economy shrinks; UK remortgaging lowest since 1999; window firm Safestyle enters administration – business live

Rolling coverage of the latest economic and financial news, as German GDP shrinks slightly in the third quarter of the year

The Guardian - UK

Prices falling in most local housing markets in UK, Zoopla finds

All local markets in London, South and East England registered annual house price falls.

The Independent UK

House prices fell in 80% of UK markets this year, says Zoopla

London and England’s southern and eastern regions worst affected as higher mortgage rates sap demand

The Guardian - UK

London house prices fall as UK market undergoes most dramatic slowdown since 2009

Homes in London are better value for money, reports Zoopla, but higher mortgage rates have impacted sales

Evening Standard

German inflation falls to 4.5%; UK home sellers increase discounts; mortgage rates ease – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

426,000 first-time buyers ‘missing from England’s housing market by 2027’

Leeds Building Society predicts thousands fewer first-time buyers could buy homes between this year and 2027, compared with the long-term average.

The Independent UK

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Evening Standard

UK house prices declined at fastest rate since 2009 in August

Demand among home buyers has fallen, but in the rental sector there is a ‘yawning gap’ between the strong demand for homes and supply, Rics said.

The Guardian - UK

Loophole in Scotland’s rent controls sees new tenants facing largest rises in UK

Rent cap limited to 3%, but landlords can go higher when drawing up new tenancy agreement

The Independent UK

House prices declined at fastest rate since 2009 in August – surveyors

Demand among home buyers has fallen, but in the rental sector there is a ‘yawning gap’ between the strong demand for homes and supply, Rics said.

Fortune

British renters will be hit with 25% price hikes over the next 4 years as landlords pass on spiraling interest rate costs, broker predicts

A cocktail of supply shortage, tougher regulation and rising costs to landlords means more pain for Britain's renters.

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news in one place.

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Evening Standard

Rise of ‘ghost listings’: five secret-sale London homes listed on property portals

As the housing market becomes even trickier to navigate, increasing numbers of ‘ghost listings’ are popping up on portals with almost no information whatsoever

The Independent UK

Wish you were here (permanently)? Survey reveals how holidays inspire home moves

Some 9% of people who have been on a UK-based holiday in the past three years have decided to move to their destination, according to Zoopla.

The National (Scotland)

Mortgage approvals plummet 20 per cent in UK amid soaring interest rates

THE number of mortgage approvals plummeted by more than a fifth in July compared to the same month last year as soaring interest rates take their…

The Guardian - UK

UK home sales in 2023 will be lowest in a decade, says Zoopla

Interest rate rises on mortgages are weakening demand, property website says

The Independent UK

Number of house sales this year ‘on track to be lowest since 2012’

The number of house sales with a mortgage is expected to be nearly a third lower this year compared with 2022, Zoopla said.

Evening Standard

Mortgage costs dampen affordability despite falling London house prices and rising wages

London’s price-to-earnings ratio is in single digits for the first time in 11 years

Ideal Home

Should you ever pay above the asking price for a home?

Our money expert explains whether you should ever pay over the asking price for a home, especially if house prices fall as predicted

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