Thu 01 Feb 2024
News
Our digital marketing strategies are second-to-none, but we also embrace the power of print. Our free newsletter, the Harrow Property News, is delivered to around 18,000 homes in the area every month, and is the best way to get the latest market insights to the Harrow areas, including price trends and demographics. You can view the articles here or if you’d like to receive a electronic copy straight to your inbox every month, sign up here.
Mon 01 Jan 2024
Fri 01 Dec 2023
The primary factor contributing to the current overvaluation in home values has been the rise in mortgage rates over the past 18 months. To rectify this situation, house prices need to experience a further decline, accompanied by an increase in incomes, or alternatively, mortgage rates should decrease to restore affordability and stimulate demand or sales.…
Wed 01 Nov 2023
The latest release of the UK HPI, which reports data up to July 2023 shows that by that month, the annual change in average UK house prices was 0.6%, down from 1.9% in June 2023. The average UK house price was £290,000, £2,000 higher than a year ago but £2,000 below the peak in November 2022. Buyer demand declined due to higher mortgage interest rates, and transactions fell by 16.3% year-on-year.…
Sun 01 Oct 2023
According to the latest data from Rightmove, in August, the average asking price for newly listed properties in the housing market dropped by 1.9% (£7,012), marking the most significant August decline since 2018. They perceive that this price adjustment is an effort to attract buyers during the summer season, amid concerns over holidays, inflation, and the highest Bank of England Base Rate since 2008. Despite the decrease, average prices remain considerably higher than pre-pandemic levels.…
Fri 01 Sep 2023
The latest release by the Halifax reported that UK house prices saw a slight -0.3% drop in July, around £1,000 less in value, marking the fourth consecutive small decline. Prices have remained relatively stable over six months, averaging £285,044 while the annual decline eased to -2.4% in July from -2.6% in June.…
Tue 01 Aug 2023
According to the UK House Price Index Summary for April 2023, the annual change in average UK house prices was 3.5% in the 12 months leading up to April 2023, compared to 4.1% in the previous 12 months. The average house price in April 2023 was £286,000, £9,000 higher than a year ago but £7,000 lower than the peak in September 2022.…
Sat 01 Jul 2023
The latest release of the Halifax House Price Index indicates a significant increase in house prices. The data reveals a robust upward trend, with prices rising steadily across the market. The report highlights strong demand and limited supply as key drivers for this growth. Overall, the index points to a buoyant housing sector with rising prices and challenges for aspiring homeowners.…
Thu 01 Jun 2023
The latest release of the Nationwide House Price Index shows that UK house prices rose by 2.1% in April 2023 compared to the previous month, the highest monthly increase since June 2014. Year-on-year house price growth has also accelerated to 9.3%, up from 7.1% in March 2023, driven by strong demand for properties and a shortage of homes for sale.…
Mon 01 May 2023
According to the latest release of the Nationwide House Price Index, the UK housing market saw its weakest annual growth since 2012, with house prices falling 1.1% year on year in February, the first annual decline since June 2020. February also saw a monthly fall of 0.5%, making it the sixth consecutive month of decline. …
Sat 01 Apr 2023
According to the latest data from Nationwide, the start of 2023 saw a further slowing in annual house price growth to 1.1% from 2.8% in December. Indeed, January saw a further monthly price fall (-0.6%), which left prices 3.2% lower than their August peak (after adjusting the data for seasonality). Still, Nationwide suggest that the market may be turning a corner. …
Tue 07 Mar 2023
The latest Nationwide House Price Index reports that in December annual price growth in the UK housing market slowed for the fourth consecutive month. The rate fell to 2.8%, down from 4.4 % in November. The slowdown was seen across all regions during the final three months of 2022. The average price of a UK home fell in December by around £1700 to £263,788. Rightmove, however, report a modest 0.9% rise in asking prices in their January index. …
Wed 25 Jan 2023
The Halifax November House Price Index records a continuation in the downward trend of average house prices with a drop of 2.3% over the month. This is the third month in a row that prices have fallen and the largest monthly fall since 2008. It takes the annual growth rate down to 4.7%, a significant fall from the October figure when it stood at 8.2%. Rightmove also reports a softening in the housing market, with their December index showing a decrease in asking prices of 2.1%. They comment that this is a larger than usual fall for the time of year as many vendors are now pricing “aggressively” in order to sell. …
Mon 16 Jan 2023
The latest ONS UK Price Index reveals that in September, average UK house prices increased by 9.5%, down from 13.1% the previous month. This made the price of an average home £295,000, an increase of £26,000 over the year but unchanged since August. The ONS attributed the fall in the September annual figure to the sharp rise last September due to stamp duty changes.…
Wed 14 Dec 2022
The most recent House Price Index released by Halifax records a drop in annual house price growth of 0.1% in September, taking the annual rate to 9.9%. This compares with growth of 0.3% in August when the annual inflation rate stood at 11.4%.…