House purchase mortgage approvals on track to fall by 13%
'We expect to see mortgage approvals for house purchases take a notable dip come the end of this year,' says Octane Capital after checking BoE data. 'This is due to the recent turbulence seen across the mortgage market, with growing uncertainty and an increased cost of borrowing deterring many buyers from progressing with their purchasing plans.'
UK house prices ‘could easily fall 10% to 15%’, suggest economists
Economists expect interest rates to spike and house sales to tumble - meaning the last year's worth of aggressive property price growth could be rolled back.
House prices to fall 9% in the next two years, predicts the OBR
The Office for Budget Responsibility expects a year's-worth of house price growth to be reset as the economy declines and mortgage rates peak at 5%.
Only one in five people expect UK house prices to fall next year
A recent survey has also found that British buyers are more likely to put forward a lower offer than asking price compared to their European counterparts.
Companies in this article
Octane CapitalMost read
Ranked: The world’s top 30 HNWI hotspots in 2025
Fresh Savills research reveals 'a dynamic reshaping' of global wealth migration - 'comparable to the expansion of air travel in the 1960s & 1970s.'
By PrimeResi
Another senior appointment for Strutt & Parker in PCL
Andrew Chambers has followed in the recent footsteps of Claire Reynolds, moving to the BNP Paribas-owned heritage estate agency from UK Sotheby's International Realty.
By PrimeResi
Budget 2025: Estate agency assesses ‘most likely’ tax changes for the property market
Hamptons' research chief runs through the tax runners & riders that could hit the residential market on 26th November.
REDD appoints new director to lead private client growth drive
The luxury real estate firm is expanding its bespoke services offering for HNWIs, family offices & investors.
Interview: Rhodium’s Richard Petrik on ‘mobilising’ London’s most luxurious developments
Top-end specialist reveals how schemes are transformed from building sites into turnkey addresses for the world’s most discerning buyers.
‘Ultra-rare’ triplex penthouse offers vast ‘blank canvas’ above Chelsea Waterfront
The trophy home atop Tower East is being offered for sale in shell condition.
By PrimeResi
Thumbs-up for major new canal-side neighbourhood in RBKC
FaulknerBrowns devised the masterplan for the 19-acre former gasworks site - from where the Notting Hill Carnival sets off - for Ballymore and Sainsbury's.
By PrimeResi
Big London agency calls the bottom of the market
Chestertons says it has spotted the telltale signs that confidence is about to return.
Manchester gets a taste of Nobu as De Niro joins groundbreaking ceremony
The global hospitality brand is making its UK luxury resi debut with a £360mn Salboy project set to be the tallest building outside London.
Burrows to head expanding brokerage’s New Homes division
Seasoned new-build specialist brings senior-level experience from Strutt & Parker, CBRE & John D Wood.
LATEST ARTICLES
Agents report ‘extraordinary’ sales & lettings run in North Surrey
Knight Frank handled £106mn-worth of property sales & saw a 171% jump in super-prime lettings in the area through Q3.
By PrimeResi
£70mn deal streak for Strutts’ Estates & Farms team
A strong autumn market saw the agency conclude 'landmark' sales in Wiltshire & Surrey - and tee up some big transactions for the coming weeks.
Super-prime sales slow in key HNW hubs as politics, taxes & tight supply bite
Survey of 12 global markets shows a 21% Q3 drop in $10mn-plus deals - led by sharper falls in New York and London - but the overall 12-month tally is still the strongest since 2021.
Knightsbridge apartment reportedly sells for £26mn below original purchase price
Financial Times flags notable recent transaction at high-profile ultra-luxury resi scheme.
Housebuilding around train stations ‘will be given default yes’
'We’re making it easier to build well-connected & high-quality homes,' says the Housing Secretary as more proposed planning reforms are revealed.
By PrimeResi