Will London house prices crash amid rising interest rates and mortgage repayments?

H House prices in London are expected to fall by 10 per cent in the next two years after the Chancellor’s mini-budget tanked the mortgage market. Higher Interest rates and mortgage payments, tighter lending and a cost-of-living crisis could spell “a year of pain” for first-time homebuyers and existing mortgage holders as sales plummet and … Read more

The true cost of the mortgage crisis

yes Steven Brewis has already postponed his wedding three times and, thanks to rising interest rates, is now considering it once again. “We have postponed our wedding due to Covid and are thinking of doing it again because it is hard to justify paying if the mortgage is going up that much.” He is just … Read more

How the mini-Budget triggered a week of chaos in Britain’s property market

British banks had withdrawn a record 1,000 home loans from the market on Tuesday, more than double the 462 products withdrawn during the pandemic in April 2020, according to Moneyfacts. By Thursday, 1,621 trades had disappeared from the market in the days since the minibudget. Virgin Money withdrew its entire range of products on Monday … Read more

The home price correction in your local housing market, as told by two interactive maps

The real estate boom of the pandemic saw US home prices soar 42%. In the future, some of those gains will be erased. On Tuesday, homecoming price correction finally appeared in the Case-Shiller US National Home Price Index, as the July reading was 0.24% lower than the June reading. That marks the first month-over-month drop … Read more

House prices to fall by as much as 15pc if interest rates hit 6pc

House prices will fall as much as 15 percent as higher interest rates slash buyers’ purchasing power, economists have warned, while the number of homes sold risks collapsing from 1.2 million. per year to just 800,000. This threatens to open a new £5bn hole in the Government’s finances, as years of rapid growth in stamp … Read more

House prices: Property type that’s plummeted in prices due to cash rate

The riskiest part of the real estate market is not what you think. Check out the chart below, which shows that prices at the higher end of the market are falling faster. buy an expensive house three months ago turns out to have been a bad move! For example, the most expensive homes have fallen … Read more

The fundamental reason house prices will fall this fall

The prices that people expect tomorrow influence today’s demand and supply. Economists say that “fundamental” economic factors, such as interest rates and family income, determine home prices. For some unknown reason, economists don’t consider people’s expectations of future house prices to be a major factor in determining current house prices, but they should. Economists have … Read more

Stamp duty cut: rumoured property tax cut in Friday’s mini-Budget could push up mortgage bills

A chief chancellor Kwasi Kwartengmini-budget on Friday, The Times reported that sweeping plans are in the works to cut the stamp duty as part of efforts to boost economic growth. Downing Street declined to comment. But while homebuyers may welcome a potential Stamp duty court, it could also lead to higher monthly mortgage bills, one … Read more

This interactive map shows if your local housing market is impacted by the price correction

That affordability crisis has already pushed the US housing market into a housing recession. Home sales are sinking. Homebuilders are canceling projects. Y Real estate companies resort to layoffs. While it is clear that this continuing housing downturn—fueled by the Fed’s anti-inflation— will see a sharp drop in real estate activity, it is less clear … Read more

House prices: property experts reveal the right time to buy a home

New data has revealed a growing trend in Australians’ property buying habits, however housing experts have warned it may come at a cost. As interest rates continue to rise, a survey commissioned by money.com.au found that prospective buyers expect a downturn in the property market before they start bidding on their new home. Just over … Read more