Tag: house prices
Property market improves for buyers as sellers forced to cut £14,000 from prices
Following a period of high prices, the property market has cooled, leaving those wishing to sell having to cut their asking prices by an average of £14,100 to secure an offer, according to online property portal Zoopla. Zoopla’s House Price Index, released on 28 February 2023, found that house price inflation had dropped from 8.5%...
Average age of first time buyers has risen to 32
A report released by the UK’s biggest lender, Halifax, reveals that the age of first time buyers rose by three years over the past decade. The average age for a first time buyer is now more than 30 in every region of the UK. This is despite the fact that purchases by first time buyers...
House prices in UK rising at fastest rate for five years
With the chancellor’s extended Stamp Duty holiday continuing to buoy the property market, the country’s biggest mortgage lender has reported that house prices are rising at their fastest pace in five years. Halifax says that there was a 1.4 per cent increase in the cost of an average home in April 2021, meaning a new...
Home ownership rates falling among younger people
Research has found that the number of people below the age of 45 who own their own home has fallen by more than a tenth over the past decade. The English Housing Survey is a continuous national survey commissioned by the Ministry of Housing, Communities and Local Government. Comparing the figures for 2019/20 with those...
