The 7am Cut
BuyAssociation curates a weekly news letter of the top property news headlines – to receive your weekly round up of property news, register today.
In the news this week: UK house prices rise in May; lenders are reducing mortgage rates; and billions are being spent on investment and regeneration in Liverpool…
New leasehold law passed, so what do buyers need to know?
“According to the government, the new leasehold law will make it easier and cheaper for leaseholders to buy their freehold, increase standard lease extension terms to 990 years for houses and flats, and provide greater transparency over service charges”…
– Eleanor Harvey, BuyAssociation
Read the full article
UK house prices rise in May
“UK house prices returned to growth in May after rising by 0.4%, according to Nationwide, as buyers’ confidence was buoyed by wage growth and lower inflation.
Over the year to May, house prices rose by 1.3%, said Nationwide. That compares to 0.6% growth in the 12 months to April. The building society said that consumer confidence had “improved noticeably over the last few months, supported by solid wage gains and lower inflation””…
– Dearbail Jordan, BBC News
What’s happening to UK mortgage rates?
“Lenders have started reducing mortgage rates in a boost for home buyers and those looking to remortgage.
It comes amid hopes that the Bank of England will finally cut interest rates and help bring down the cost of borrowing in the coming months”…
– Ruth Emery, MoneyWeek
Full steam ahead for Liverpool – Manchester Railway Board
“Burnham and Liverpool City Region Mayor, Steve Rotheram, took to the stage at UKREiiF to announce the formation of a Liverpool-Manchester Railway Board. The group is charged with crafting a strategy for the £17bn rail link between the two cities that maximises potential benefits to the region, while also linking the Liverpool City Region and Greater Manchester investment zones”…
– Julia Hatmaker, Place North West
Number of homes for sale at an eight-year high
“This equates to around £230 billion-worth of homes on offer, as sellers continue returning to the housing market in growing numbers. The property site also predicts that the 4th July General Election will have less impact on the housing market than during previous election periods”…
– Phoebe Jobling, Manchester Evening News
What’s next for the £5bn scheme aiming to transform Liverpool?
“Its aim is to regenerate the post-industrial landscape of Liverpool’s northern docks through a wide range of residential, commercial and cultural developments and it was granted outline planning permission in 2013. In the years since, some progress has been made, including a number of office and residential developments which have sprung up around Princes Dock”…
– Dan Haygarth, Liverpool Echo
BuyAssociation is an established voice in the UK property industry. As well as producing our own content and daily property articles, we curate a newsletter each week highlighting the week’s top headlines for UK property news articles, stories and reports. Stay ahead of the market and join over 30,000 of the world’s most informed property investors by registering today!
The 7am Cut – 3/6/2024
