UK house prices jump but slowdown is likely, says Nationwide

Lender feels mini boom after Covid lockdown will stop when stamp duty holiday ends

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House prices rose in October at the fastest annual rate in almost six years but the UK market is likely to face a “sharp” slowdown when the government’s stamp duty holiday ends, the mortgage lender Nationwide has warned. 

The average UK house price jumped by 5.8% in October compared with the same month last year, to £227,826, according to the UK’s biggest building society.

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Edwardian homes for sale – in pictures

From a stable complex near Newmarket to a converted boys’ school in Faversham

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As a rent crisis looms, councils have a plan – the government should take note | Gaby Hinsliff

Buying up cheap housing could provide a safety net to millions who may struggle to pay the bills as the pandemic continues

Julian Higson has just bought a new house. Or to be precise, he’s bought about a hundred of them.

For months he’s been snapping up properties off plan all over Bristol, as developers begin to fret that flats planned at the height of a pre-Covid boom might not sell so well in a recession. But Higson isn’t some passing property speculator or ruthless buy-to-let mogul. He’s the director of landlord and housing services at Bristol city council, which plans to turn these new-builds into social housing for people who can’t afford to rent privately in one of the most expensive British cities outside London.

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UK economy feels the effects as Covid second wave hits critical stage

Our latest snapshot of key economic indicators shows recovery is fizzling out

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Buying and selling a house with subsidence Nottingham Estate Agents

Few things strike as much fear into buyers and sellers alike as subsidence. Who would buy a property that was at risk of structural collapse? And if you are a seller, the nagging question that keeps you awake at night: should you buy a house if the tell-tale signs of subsidence are going to be […]

The post Buying and selling a house with subsidence appeared first on OnTheMarket.com blog.

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Where has seen the biggest rise in million pound streets?

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The post Where has seen the biggest rise in million pound streets? first appeared on Property blog.

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Lloyds cashes in on UK mortgage boom as profits rise

Lending rose £3.5bn in Q3 after bank processes highest number of applications since 2008

Lloyds Banking Group reported stronger-than-expected profits after the UK’s largest mortgage lender cashed in on a surge in demand for home loans.

The UK bank, which owns Halifax, said mortgage lending increased by £3.5bn over the three months to September, as it processed the highest number of applications since 2008.

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