Docklands News

Nationwide: House price growth slowest in nearly six years

UK house prices grew at an annual pace of 0.5% in December, compared to 2.6% in 2017, according to Nationwide Building Society – the slowest annual rate since February 2013. Northern Ireland saw the biggest house price rises, up 5.8%. Prices in Wales climbed 4%, in Scotland they were up 0.9% and in England they rose 0.7%. London and the surrounding areas continue to see prices fall, by 0.8% and 1.4% respectively.

BBC News (04/01/2019)

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First-time buyers waiting for Brexit outcome

Experts have suggested that the housing market will pick up after Brexit as more than half of first-time buyers are waiting until April to purchase their homes. Research by OneFamily showed that 55% of first-time buyers believe property prices will drop and they will be able to get more for their money after March 29th. However, property chiefs said those holding off were “misguided”, as prices are actually expected to increase.

The Daily Telegraph (08/01/2019)

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Half of mortgage-holders overpaying on loans

Almost half of homeowners with a mortgage say they have been overpaying on their home loan in recent months, a survey by Which? Mortgage Advisers has found. Some 46% of homeowners said they had made overpayments during the 12 months leading up to June 2018, including 69% of 18 to 24-year-olds and 52% of homeowners aged 25 to 34. People in London (60%) were the most likely to be making overpayments.

The Sunday Times (05/01/2019)

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East London still best for buyers on a budget

East London remains the top area for home buyers on a budget, according to the latest sold prices recorded by the Office for National Statistics. Newham saw its average sale price fall 0.8% to £365,182, with investment in new building continuing long after the 2012 Olympic Games, attracted by the eventual five Elizabeth Line stations in the borough. Bexley came in second, with an average price of £341,784 (a rise of 1.8%), while Barking and Dagenham took first spot, with homes still available for an average of £300,518, a 2.4% increase.

Evening Standard (03/01/2019)

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London property NOT selling like hotcakes ?!

UBS research shows London property listings stay on the market for an average 128 days before selling, up from 77 in 2016, while price reductions have doubled to 39% of listings.

Financial Times (02/01/2019)

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Mortgage approvals drop

New figures from UK Finance have shown that the number of mortgages approved by the major High Street banks has fallen amid fears of a stagnant housing market. A total of 80,127 loans were handed out in November - down 10.6% on a year earlier. The amount lent dropped 2% to £23.1bn. The average property now costs £231,095, up 2.7% in a year - the smallest increase since July 2013. However, despite the downturn, November saw the first year-on-year rise since September 2017 - up by 0.2% from last year.

Daily Mail (28/12/2018) The Times (28/12/2018)

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