UK house prices grew just 0.3% in the three months to the end of November, compared to the same period last year - their weakest rate in almost six years, according to Halifax figures. House price growth also fell by 1.4% in November compared to October, Halifax’s data showed, and by 1.1% compared to the previous quarter. “High employment, wage growth and historically low mortgage rates continue to make home ownership more affordable for many, though the need to raise a significant deposit still acts as something of a restraint on the market,” said Russell Galley, managing director of Halifax.
City AM (07/12/2018)
The Royal Institution of Chartered Surveyors has said that Brexit worries are causing homebuyers and sellers to sit tight – with properties typically taking four months to sell. The organisation revealed that the number of properties listed at each branch fell to an average of 42 last month.
The Times (12/12/2018)
More than 150 homes around the world changed hands for more than £20m each in the past year. The highest number of ultra-prime sales were in Hong Kong, where 47 homes priced at £20m or above changed hands, followed by New York with 39. London - which topped the rankings in 2015, slipped to third place with 38 transactions.
The Guardian (10/12/2018)
Telford Homes has launched a pair of apartments to showcase The Liberty Building on the Isle of Dogs. Close to Crossharbour DLR for connections to the City, the tower is within easy walking distance of Canary Wharf; facilities at the development include a 24-hour concierge, and an on-site gym. One of the ninth-floor homes on display is a 1,200 sq ft, two-bedroom apartment furnished by Rachel Winham Interior Design. The kitchen has gloss lacquered cabinets by Urban Myth and integrated Siemens appliances, while the master bedroom boasts a dedicated dressing area and en suite bathroom. The other, a 970 sq ft three-bed, includes an open-plan living area with a solid oak dining table and an L-shaped sofa beside sliding doors that lead out onto a balcony. Prices at The Liberty start at £815,000 for a three-bed home, although higher priced two-beds are available.
In Your Area (06/12/2018)
Challenger bank Oaknorth has backed Christian Candy to the tune of £19m for a joint venture with real estate developers Chris Mason and Raj Sond. Candy's Orlandis Capital will wants to create 44 homes in Hackney Wick, 35 of which will qualify for Help to Buy. The partnership will also create 24,000 sq ft of office space.
Evening Standard (06/12/2018)
UK house prices rose by 1.9% in the year to November, up from a five-year low of 1.6% in October according to Nationwide. On a monthly basis, prices were up 0.3% to £214,044, but the lender said Brexit uncertainty has left the property market “relatively subdued”. Robert Gardner, Nationwide’s chief economist, said that in the near term the squeeze on household budgets and the uncertain economic outlook would dampen demand, despite low borrowing costs and unemployment being at a 40-year low.
The Times (31/11/2018)