UK house prices are falling, reports Joe Curtis for City AM. Halifax’s data shows that prices declined for the fourth month in a row in June, the longest losing streak since 2010. That came despite a sharp recovery in market activity last month, with new mortgage enquiries up by 100% since May. Last week Nationwide reported that British house prices fell on an annual basis for the first time in eight years in June. Still, the 0.1% setback will hardly leave anyone with negative equity.
Yet some corners of the property market are positively frenetic, says James Pickford in the Financial Times. Property site Zoopla reported last month that sales are 4% higher than before the pandemic, while asking prices are up by 7% on the year. The optimism looks misplaced, but even if property takes a turn for the worse the crash is unlikely to be as bad as previous slumps thanks to tighter lending conditions, the decline of buy-to-let and the greater prevalence of fixed-rate mortgages.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Inheritance tax investigations catch out 1200 more families in HMRC crackdownWhere there is a suspicion inheritance tax has been underpaid, HMRC has extensive powers to check the deceased individual’s financial affairs and chase what is owed. Will you pay more?
-
UK interest rates live: Bank of England expected to cut base rate despite sticky inflationEconomists and industry experts think that a weakening economy will force the MPC to stick to its cutting schedule in spite of inflation running above its target.
-
8 of the best houses for sale with dining terracesThe best houses for sale with dining terraces – from an Arts & Crafts property in Great Missenden, Buckinghamshire, to a duplex apartment in a garden square in Kensington with a decked roof terrace
-
Fifty years of investment fiascos – a few examples to learn fromA benign market backdrop over the past 50 years has not prevented recurrent routs, says Max King
-
US stocks are more expensive than ever after Trump's tariffsWe don’t need to second-guess the effect of Trump's tariffs to think that the rest of the world offers better value
-
How to use SAYE and SIP schemes to multiply your moneyEmployers’ savings or share-incentive plans like SAYE and SIP schemes can help top up your pension
-
8 of the best houses for sale near sporting groundsThe best houses for sale near sporting grounds – from a house opposite Kempton Park Racecourse in Sunbury-on-Thames, to an apartment with a terrace overlooking Lord’s Cricket Ground, London
-
Is the UK housing market doomed to stagnation?Opinion Housing is the mirror image of Britain’s moribund stock market. A crash would be the best outcome
-
Here are four reasons why Britain’s house price crash is comingOpinion The pressure on house prices and property can only get worse with the economy turning down and taxes rising, says Matthew Lynn
-
8 of the best houses for sale for around £500,000The best houses for sale for around £500,000 – from an 1850s property in Great Yarmouth with a viewing tower overlooking the harbour, to an apartment in period property with a private residents’ garden in Greenwich
