Weekly Property News Round Up – 24.08.24

Welcome to this week’s edition of Property News Weekly, where we bring you the latest updates shaping the real estate landscape.

This week, we take a closer look at four trends to look out for in the UK Property Market. A look at mortgage rates with some record breaking news. Finally, we’ll examine what it is going to take to hit the UK governments housebuilding targets.

If you would like to speak to our experts for some industry insight on these important questions and discover the strategic opportunities this evolving market has to offer, reply to this article today.

Now, let’s have a look at the latest headlines that have caught our eye this week…

Mid Year Property Market Update

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Property News this Week:

Four Trends to Look Out for in the Property Market

With the general election out of the way and the long-anticipated first interest rate cut now implemented by the Bank of England – the first in four years – there is much greater certainty for buyers and sellers heading into the traditionally busy autumn market.

Among our own clients in the prime London market, we’ve seen fresh focus from buyers who have been sitting on the sidelines for much of this year, who are now keen to discuss their options or press ahead with a property search.

Mortgage Rates Fall to Lowest Price in Nearly Two Years

A pricing war amongst banks and building societies has seen mortgage rates fall to their lowest level in nearly two years. The rates are now lower than they have been since the disastrous Mini Budget under Liz Truss in 2022. A cut in the base interest rate from 5.25% to 5% by the Bank of England earlier this month has encouraged lenders to lower rates.

How the Housebuilding Crisis Can be Sold

More support for small- and medium-sized enterprise (SME) housebuilders is vital if the new Labour government wants to solve the housing crisis, easyMoney has claimed. Keir Starmer’s government campaigned on its promise to build more homes, with a target of building 1.5 million houses within the next five years.

However, Jason Ferrando, chief executive of property lender easyMoney, believes that access to funding is the bigger threat to the UK property market. “A focus on greater supply is admirable but it’s housebuilders who deliver homes, not politicians,” says Ferrando.

That concludes this week’s updates. If you have any thoughts or questions about these headlines, feel free to reply—I’d love to chat with you about the latest market trends and discuss your investment goals.

I’ll be back next week with more insights on the property market. Enjoy your weekend!

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Weekly Property News Round Up – 24.08.24

Property News this Week:

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