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House prices will continue to fall, says an influential poll of estate agents, but how bad are things in the property market?
The latest survey by the Royal Institution of Chartered Surveyors found that home buyer demand is declining and fewer homes are coming to the market.
Meanwhile, Halifax’s latest house price figures show a £14,000 drop compared to the recent peak in August 2022 and 4.7 per cent fall in the year to the end of September, the largest since 2009.
So, how much further could house prices fall and are buyers in danger of trying to time the market? Will there be a big pause before a general election next year, or will the market rebound as mortgage rates come down?
On this podcast episode, Georgie Frost, Simon Lambert and Lee Boyce discuss what’s next for mortgages, house prices and the property market.
This week has also seen the Bank of England sound the alarm over 35 year mortgages – should we be concerned?
Meanwhile, Skipton Building Society has launched a headline mortgage rate of 3.35 per cent that is way below rivals’ deals. What’s the catch and what are other big lenders, including Nationwide doing on mortgages?
In the final part of the propertyfest, the team look at the top up-and-coming areas for first-time buyers: Spoiler alert, the list features Hull, Middlesbrough and Ipswich. Does your area make the cut?
DIY investors went on a gilt-buying spree in September – shunning the stock market and savings accounts. But with the UK government bonds paying as little as 0.125 per cent, why were they getting involved?
Hargreaves Lansdown is launching a basic, no-frills pension for those who want an easy way to invest for retirement but aren’t quite sure how to get started. They are the first Sipp provider to give details after regulators said they had to offer customers a ‘default’ option by the start of December. Will it make Sipps sexy enough to the self-employed?
And finally, shrinkflation, bogus loyalty card savings and variable prices in supermarkets… we’re fed up with the lot of them. Are you?