Property Market Insights Podcast 15: House prices and purplebricks...
This week Daniel and I delve into mortgage approvals, mortgage rates, Help to Buy, the latest Halifax and Nationwide house price indices and have a quick look at Purplebricks which was sold for just £1 this week
The best way to watch the podcast is on youtube, but if you are using a player such as Spotify we include the key charts we refer to in the video below:
Which way now for house prices?
It is currently unclear which way house prices are currently moving - the Halifax says down, whilst the Nationwide says up...
The truth is that the UK housing market is made up of hundreds and thousands of local markets which operate independently of each other reflecting local market conditions as well as higher level factors such as mortgage rates and inflation.
Mortgage approvals were on the up last month as the housing market starts to settle after the hiatus caused by the September mini-budget
Mortgage rates up or down?
It also seems that the jury is also out on this one, average mortgage rates ticking up in line with Bank Rate and swap rates, whilst some of the headline figures for the most popular mortgage products are ticking down as the mortgage market stabilises