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.'
What to read next
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.
Most read
DDRE reveals 2026 sales figures; adds four new advisors
Persephone Rose, Helena Barnett-Lonergan, Ross Parker & Tommy Moore have joined Daniel Daggers' luxury brokerage.
High-profile agent Tangney launches ‘modern private office’
Siân-Louise Tangney's new venture, Key Privé, has already chalked up a £200k-a-month off-market deal in Ascot.
Independent buying agents launch invitation-only alliance
New network aims to promote higher standards and make it easier for consumers to find experienced buy-side advisers.
‘The product has to work harder than ever’: Dean Main on developing, managing & future-proofing super-prime homes
The Rhodium and Henigman boss gives PrimeResi the inside track on how top-end demand is shifting in London - and reveals what separates the very best schemes from the rest.
‘A genuine London icon’: Extraordinary Regent’s Park building offered with development potential
Originally built as a major visitor attraction, agents say The Diorama 'represents a truly generational opportunity' to create 'a private headquarters, cultural destination, world-class residence or legacy…
‘One of the most beautiful houses in Oxfordshire’: ‘Bohemian sanctuary’ with romantic roots seeks £14.25mn
Newington House was built in the style of an Italian Palazzo, and later became something of a hub for literary high society.
In Pictures: Inside the first completed penthouse at Holland Park Gate
RedBook Agency & Taylor Howes collaborate on transformation of 5,500 sq ft duplex atop Lodha's super-prime scheme in Kensington, billed as 'one of London's most significant new luxury homes'.
Global trophy homes go under the hammer in Mayfair
Concierge Auctions said £139mn in bids were placed during its latest London global sale at The Connaught, as buyers competed for homes from across the US and Europe.
Prime property price declines accelerate in ‘strong buyer’s market’
Savills expects 'increasingly cautious' London & regional top-ends to remain price sensitive in H2.
Luxury hospitality gurus launch branded resi consultancy
'The gap between brand promise and resident experience is one of the most consequential — and least visible — challenges in branded residences today,' says Moricon co-founder Sebastian Moritz.
LATEST ARTICLES
In Pictures: Inside the first completed penthouse at Holland Park Gate
RedBook Agency & Taylor Howes collaborate on transformation of 5,500 sq ft duplex atop Lodha's super-prime scheme in Kensington, billed as 'one of London's most significant new luxury homes'.
Long-standing Hamptons director moves to Moveli
Andrew Farmer has spent the last two decades with Hamptons in Tunbridge Wells.
Valouran promotes sales chief Leigh to partner
Industry veteran steps up at the luxury developer, where he oversees sales across a £4bn London portfolio.
Influential economists urge incoming PM to scrap stamp duty & council tax for 1% property value tax
UCL report backed by heavyweight thinkers proposes annual levy on property values as part of sweeping tax overhaul.
Jackson-Stops: Home-buying reforms could unlock 260,000 homes within a year
Agency reckons speeding up transactions could tempt a sizeable cohort of would-be movers off the sidelines, and says scrapping stamp duty would have an even bigger impact.