Housepresso: 14 Mar 21
All you need to know about the housing market this week in one quick hit
House price growth expected to continue
RICS (The Royal Institution of Chartered Surveyors) reported this week that it expects house price inflation to maintain strong momentum. At the regional level, its survey reported that all parts of the UK noted some degree of price growth, with Wales, the North of England and Northern Ireland all exhibiting particularly strong readings. All UK regions/countries are now expected to see an increase in prices over the year to come.
Estate agents building up a tan from the sunny stamp duty holiday
London based estate agent Foxtons and upmarket market chain Savills both reported strong housing market conditions this week.
Foxtons said that its “sales commission pipeline started 2021 more than 30% higher” than the previous year.
Savills reported that UK estate agency profits were up a staggering 29% an impressive performance during a global pandemic, although the performance of both companies does raise questions about the need to use taxpayers money to boost the housing market rather than award pay rises to the NHS.
40-year mortgages: friend or foe?
Habito announced this week that it will be launching a 40-year fixed-rate mortgage. Such a product definitely offers certainty in an uncertain world, but that certainty comes at a cost. There a risk that homebuyers are attracted by the lower monthly payments only to find out the cost is much higher in the longer term?
Need a bigger housing market fix?
If this week's Housepresso has merely whetted your appetite rather than quenched your thirst for housing market news, you get get a fuller picture with Houselungo our longer look at this week's housing market news