The 7am CutBuyAssociation 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: inflation falls to lowest level in almost three years; UK house prices increase for their second consecutive month; and the Bank of England opens door to August interest rate cut… |
Interest rates held at 5.25% – what does this mean for mortgages?“Interest rates set by the Bank of England can have an impact on the rates lenders offer borrowers via mortgages. However, even as interest rates have remained at 5.25%, there have been fluctuations in the mortgage market. According to Moneyfactscompare data, the average two-year fixed rate has fallen from 6.04% to 5.93% since the start of December 2023. Meanwhile, the average five-year fixed rate has come down from 5.65% to 5.50% in the same period”…
– Eleanor Harvey, BuyAssociation |
Inflation falls to lowest level in almost three years“Inflation has hit the Bank of England’s target for the first time in almost three years. Prices rose at 2% in the year to May, down from 2.3% the month before, official figures show. The economy is a key talking point in the run-up to the general election on 4 July, with all of the main parties battling over how they would keep the cost of living under control”… – Tom Espiner, BBC News |
UK house prices increase as recovery gathers pace – industry reactions“UK house prices increased for their second consecutive month in April, latest official figures show, as the housing market continues to show signs of recovery as the economy improves. The average UK house price increased by 1.1 per cent in the 12 months to April, according to a provisional estimate from the Office for National Statistics (ONS). This figure accelerated from 0.9% annual growth in the year to March and marked the second month in a row with an annual increase, after eight straight months of declines”… – Marc Da Silva, Property industry eye |
Bank opens door to August interest rate cut“The Bank of England has opened the door to cutting interest rates in August in what would be the first drop in borrowing costs for more than four years. The minutes from the gathering of the Bank’s rate-setting committee signalled a significant change in tone, indicating a majority could vote for a cut when they meet again on 1 August”… – Dearbail Jordan and Faisal Islam, BBC News |
Everything the Conservatives, Labour and Lib Dems have promised homeowners and renters in the general election“It is just over two weeks until the general election takes places on Thursday, July 4. The main political parties have now released their manifestos which lay out their plans in a bid to convince undecided voters”… – Phoebe Jobling, Manchester Evening News |
Average UK asking price hits more than £375k as agreed sales climb“The typical UK asking price is now £375,110, according to the latest research from Rightmove, which is just £21 lower than last month’s figure and shows an ongoing stability in the market. This is supported by extremely high buyer demand, which has been reported across much of the country and continues to support UK asking prices”… – Eleanor Harvey, BuyAssociation |
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 – 24/6/2024
