Docklands News

The rise of artificial intelligence technology is reshaping the mortgage industry, with over a third of homebuyers now using AI to explore their options. Research shared with City AM indicates that nearly half of users find AI the most effective tool for comparing mortgage options. However, traditional brokers have been slow to adopt this technology, with only one in eight incorporating AI into their advice processes. Jacqueline Dewey, chief executive of Smart Money, noted a "disconnect" between homeowners and brokers' priorities, suggesting that the future of AI in mortgages will likely be hybrid, combining efficiency with traditional broker services.

City AM (15/07/2025)  

Halifax has reported a 0.0% month-on-month change in typical UK property values in June, following a 0.3% decline in May. Amanda Bryden, head of mortgages at Halifax, said the market "remained steady", with the average property price at £296,665, approximately 2.5% higher than last year. Karen Noye from Quilter highlighted that the market may slow down due to seasonal changes, while Sarah Coles from Hargreaves Lansdown pointed out that high property prices are straining affordability. Overall, experts suggest that modest growth may occur later in the year as mortgage rates stabilise.

Daily Mail (08/07/2025)   The Daily Telegraph (08/07/2025)   The Independent (08/07/2025)   The Intermediary (08/07/2025)  

The June survey by the Royal Institution of Chartered Surveyors (RICS) signals a shift in the UK housing market, as buyer demand moved out of negative territory for the first time since December 2024. A net balance of 3% of property professionals reported an increase in new buyer inquiries - an improvement from the 22% decline noted in May. Tarrant Parsons, RICS head of market research and analysis, commented: "The UK residential market appears to be entering a more settled phase, with demand showing signs of stabilising." However, sales momentum is expected to remain muted, with a flat outlook for transaction volumes over the next year. While house prices continue to decline slightly - particularly in the South East and London - regions like Northern Ireland are seeing modest growth

Daily Mail (10/07/2025)   The Daily Telegraph (10/07/2025)   The Standard (10/07/2025)   The Times (10/07/2025)  

Recent data indicates that housebuilding has prevented a significant downturn in the construction sector, with residential work rising to 50.7 in June, surpassing the neutral benchmark of 50. Despite a rise in stamp duty rates potentially dampening demand, firms reported an increase in new projects and sales pipelines. However, other areas like commercial and civil engineering faced declines, with commercial activity dropping sharply. Staffing numbers continued to decrease due to higher employment taxes set by Chancellor Rachel Reeves, while material costs rose. Matt Swannell from EY ITEM Club noted that "recent PMI readings appear to have been overly pessimistic," suggesting that while the sector faces challenges, there are signs of resilience.

City AM (04/07/2025)   Daily Mail (04/07/2025)   The Daily Telegraph (04/07/2025)  

The Bank of England has warned that approximately 3.6m mortgage borrowers will experience increased repayments over the next three years. This rise primarily affects the 41% of households that have not renegotiated their home loans since interest rates began to climb in 2021. The financial policy committee estimates that homeowners transitioning off fixed rates in the next two years will see an average monthly repayment increase of £107, which is a 14% rise, slightly lower than the previous forecast of £146. The number of homeowners expected to refinance at higher rates has decreased from 4.4m to 3.6m. The Bank has also suggested relaxing affordability rules for mortgage lending to assist more individuals in entering the housing market. 

The Times (10/07/2025)  

UK house prices saw their steepest monthly decline in over two years in June, falling by 0.8%, according to Nationwide. The drop, the sharpest since February 2023, is thought to reflect a dip in demand following April's stamp duty changes, which lowered the tax-free threshold for most buyers. Despite the monthly fall, prices were still up 2.1% on the year, although this marked the slowest annual growth in nearly 12 months. Nationwide expects market activity to rebound in the coming months, citing strong fundamentals such as low unemployment, rising real incomes, and the potential for lower interest rates. The gap in house price growth between northern and southern England narrowed in the second quarter, with northern regions seeing a 3.1% annual rise compared to 2.2% in the south. Terraced houses led the market with a 3.6% increase, while flats lagged behind with just 0.3% growth over the past year. 

BBC News (02/07/2025)   Financial Times (02/07/2025)   The Daily Telegraph (02/07/2025)   The Guardian (02/07/2025)