Main image: Mortgage applications and completions, 3-month moving average, year-on-year change
UK Finance: ‘House purchase activity looks to have returned to pre-pandemic norms – for now’
"It is too early to predict when escalating cost-of-living pressures will begin to bear down on effective demand," says UK Finance. "But, given current pressures from interest rates and inflation, some softening of demand is expected, whether this comes later in 2022 or next year."
Mortgage lending rises back above pre-pandemic levels
Net borrowing of mortgage debt by individuals increased to £7.4bn in May from £4.2bn in April, according to the Bank of England's Money & Credit data. This is above the pre-pandemic average of £4.
Mortgage lending stays well-above pre-pandemic norms
The latest Bank of England data show a slight drop in mortgage approvals.
Annual house price growth climbs to +12.8% – UK HPI
The latest official house price index tells of a 1.2% monthly increase for the average UK home in May, up from a 0.4% rise in the same period last year.
Most read
Reality bites in Prime Central London as buyers step back & sellers cut prices
Recent tax changes have led to falling sales and downward price pressure across the capital's top postcodes, reports Knight Frank.
Super-prime brokerage to rev up PCL expansion with trophy Knightsbridge base
UK Sotheby's International Realty is taking over a former McLaren showroom at One Hyde Park, hot on the heels of another marquee branch opening in Kensington.
In Pictures: Inside an £18.5mn duplex at 60 Curzon, designed by De Rosee Sa
London & Lisbon-based studio delivers a mid-century-inspired, art-filled showstopper, as super-prime Mayfair scheme nears sellout.
Winkworth’s Knightsbridge office adds Mayfair specialist
George Simpson has spent the last decade working for Knight Frank.
Former boss of JLL Kensington joins Moveli
'Upper market' brokerage's latest signing will cover Cheltenham, the Cotswolds & London.
Barclays Private Bank: ‘Five signs the tide may be turning for London’s prime property market’
'The outlook remains varied,' bank tells HNW clients, but 'there are clear signs that interest is picking up at the top end of the London property market.'
Weekly Showcase: Ten featured prime resi listings
PrimeResi's regular stock check, powered by LonRes
In Pictures: Rare beachfront mansion in Beaulieu seeks £12.5mn
1914 Arts and Crafts-style pile in 20 acres brought to market after 70 years in the same family.
Cadogan portfolio value hits £5.7bn as Chelsea blooms
Great Estate reports 16.6% boost in operating profit and 11.8% jump in total income as investments & placemaking initiatives pay off.
D&G brings in talent chief from Chestertons for UK growth drive
James Evans' firm is looking to double its headcount of self-employed brokers to 50 by the end of this year.
LATEST ARTICLES
Boutique agency founder moves to top-end brokerage
Moveli signs up another well-known PCL operator as platform expands its coverage across the UK.
Veteran agency boss shares 11-step formula for closing a mega-deal
Glentree's Trevor Abrahmsohn says his 'tried & tested' technique has helped bring home multiple transactions ranging up to £100mn.
400 agents join new members-only prime property network
Former Black Brick partner's venture has attracted key London players since launching last year.
Real estate branding agency expands into the US & Middle East
Noë & Associates has brought in big-hitters Christina Falzano & Sailesh Jani to drive its international growth plans.
In Pictures: Turnkey Nash townhouse in Regent’s Park pitched at £9.95mn
Grade I listed residence on Chester Terrace comes with a private cinema & roof garden.