Rental growth is slowing
After the last couple of years of high growth, latest evidence shows that rental growth rates are slowing. Across the largest cities in the UK then the average rate of rental growth slowed to 8% from 10% a year earlier. In London the slowdown has been even more distinct, slowing to 5% on latest data […]
Student renters – huge scale of student demand
With a new academic year just getting underway; it makes a good time to reflect on the huge scale of student demand and how many live in purpose built student accommodation (PBSA) or in the wider private rental market (PRS). Overall in the private rental sector, there are around 4.6 – 5 million households, this […]
Mortgage rates have improved significantly
The Bank of England voted to keep rates at 5% in the September meeting, having cut them in August, stating more cuts are on the cards if inflation stays low. The latest consensus forecast for the Bank rate is to be 4.7% in Q4 2024, suggesting economists expect one more 25 basis point cut before […]
Uptick in mortgage approvals
July data just released by the Bank of England saw a pick-up in mortgage approvals to just shy of 62,000, the highest monthly rate since the Truss mini budget in September 2022. This July mortgage data precedes the Bank of England’s first interest rate cut in August but shows the building sentiment towards the housing […]
Market recovery continues
After starting the year with a moderation of -1.7%, annual house price growth has recovered to 2.7% in June, bringing the average price of a property to £287,927. This is the first month since April 2023 that all UK regions are recording positive annual price growth. Northern Ireland is experiencing the strongest growth at 6.4%, […]
Rate of housebuilding must accelerate
The government has made clear its commitment to getting new homes built to address the housing crisis and surveys show that growing numbers of people are on-side with the idea of new developments. But, it will be challenging. Only 114,000 new homes were built in the first half of 2024 in England and Wales, 11% […]
The race to rent
With peak rental season underway, homes to rent continue to be in high demand and are renting quickly. The median time on the market from listing to finding a renter is just 12 days meaning that over half of all homes are being rented in less than 2 weeks. There’s a similar picture in all […]
Medium-term outlook – sales price forecasts have improved
Mid year is a good time to reflect on the market outlook for the rest of 2024 and beyond. Notably, recent revisions to house price forecasts show a more optimistic outlook for this year. Whilst cuts in the Bank of England bank rate have yet to materialise, they are still expected in 2024. Whilst falls […]
Gearing up for world bicycle day
Cycling is good for our health and wellbeing and, because it is one of the most sustainable modes of transport, it’s good for the planet too. That’s why we mark World Bicycle Day every June, to encourage more people to take to two wheels. The number of people riding bikes shifted up a gear after […]
City ranking
The top 3 places best placed to experience rental growth are: Reading, Bristol, and Milton Keynes, according to new data from PriceHubble. Reading has recently benefited from the opening of the Elizabeth Line (Crossrail), drawing in a new demographic of renter and also is well place for the M4 tech corridor. The ranking is based […]