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.
Most read
Ex-Knight Franker launches ‘artisan’ resi developer with Brixton mews scheme
'We saw a gap in the market for authentic, design-led family houses in London that not only exhibit highly skilled craftsmanship but are also having a positive impact on the environment,' says Alex Macaulay,…
Interview: Six Senses CEO Neil Jacobs on the rise of branded residences & collaborating with the world’s top luxury property developers
'The buzz around The Whiteley is a testament to the ongoing global appetite for property in the capital – so we’re looking forward to seeing how this unfolds'
Deal sealed on gigantic Georgian townhouse overlooking Lincoln’s Inn Fields
14,500 square foot mansion, recently renovated by David Chipperfield Architects, attracted interest from Europe and beyond...
PCL boundary has shifted, says west London agency
Finlay Brewer suggests the prime villages of Brook Green, Brackenbury and Askew should be reclassified, following a rise in the number of wealthy families moving in from Kensington & Chelsea...
Green light for MARK & Finchatton’s Foster-designed mixed-use timber scheme opposite The Whiteley
Designed by Foster + Partners and built using cross-laminated timber, 'The William' is the next phase of the grand £3bn redevelopment of Queensway - which aims to create a patch of Paris in Bayswater.
European court rules public registers of beneficial owners are ‘invalid’
A judgement by Europe's top law court has thrown public registers of beneficial owners - such as the UK's current attempt to shine a light on opaque overseas property ownership structures - into doubt
Savills names top ski resort for high-flying execs
Whistler Blackcomb leads agency's ranking of 20 prime alpine destinations around the world.
‘One of the finest in the Cotswolds’: Historic country house in ‘magical’ setting asks £20mn
Edgeworth Manor near Stroud 'is simply a very magisterial manor that is both composed and confident, which enjoys a great sense of occasion', says Savills.
LATEST ARTICLES
Engel & Völkers assembles high-end listings ahead of return to London
Global real estate brokerage is building an impressive roster of instructions in the capital, after temporarily exiting the UK market in 2019.
New Foster + Partners-designed scheme in Dubai will be ‘one of the most sought-after residences in the world’
Delivering ten full-floor units measuring up to 18,300 sq ft, The Palm Flower will be a 'global benchmark for refinement, privacy and exclusivity in luxury living', says developer.
In Pictures: Aston Martin designs a private home in Japan
Top-end British car marque Aston Martin has steered further towards the branded residential property sector, designing a private luxury home in Tokyo.
Knight Frank cuts prime global forecast for 2023
Property firm highlights six key trends to watch as it downgrades expectations for prime residential markets across 25 top-tier international cities.
Taylor Howes recruits a new Design Director
Irina Vladi has moved from 1508 London.