Exclusive: Home REIT shareholder calls for FCA probe into ‘misleading’ statements June 19, 2023 The City watchdog is under pressure to investigate scandal-hit social housing investor Home REIT on the grounds it repeatedly misled the market and left investors “badly burnt”, Morning Wire can reveal.
Berkeley Group looking to ease housing market fears ahead of further interest rate pain June 18, 2023 Housebuilder Berkeley is looking to soothe fears of more interest rate pain and a slump in the housing market this week as it updates the City on its full year’s performance.
‘Mortgage crunch’ deepens: Repayments will rise by £2,900 a year, reaching eye-watering £15.8bn by 2026 June 17, 2023 Annual mortgage repayments are set to rise by £2,900 for the average household remortgaging next year, according to a think-tank. As the UK’s “mortgage crunch” deepens, total annual mortgage repayments could rise by £15.8 billion by 2026, the Resolution Foundation said. Stickier-than-expected inflation has raised expectations that the Bank of England’s base rate-rising cycle, which [...]
More lenders expected to hike mortgage rates following HSBC, brokers warn June 15, 2023 More and more lenders are set to increase rates on mortgages, brokers have warned, as the fallout from the Bank of England’s rate rise continues to devastate homeowners. The fresh blow to the housing sector comes as HSBC pushed mortgage rates up for the second time in one week in an unprecedented move for the [...]
Mortgage commitments plummet to pandemic levels as rate hike jitters spook housing market June 13, 2023 The number of new mortgage commitments has fallen to the lowest levels since the Covid pandemic as speculation the Bank of England’s will keep on hiking interest rates rattles the market. As the central bank raised interest rates for the 12th consecutive time during the quarter, in a bid to cool inflation, the number of [...]
Bellway on track after strong spring selling period but uncertain rate environment poses challenges June 13, 2023 FTSE 250 Bellway is on track to meet its guidance for the full year after a strong spring selling season even as sales remain well below last year. From the beginning of February to 4 June, the reservation rate averaged 190 homes per week compared to 253 in the same period last year, a fall [...]
Knight Frank revenues soar as it shrugs off ‘considerable market disruption’ June 12, 2023 Estate agency Knight Frank has posted a surge in revenues for the year despite having tackled “considerable market disruption” over the last 12 months due to the impact of the Truss-Kwarteng mini-budget. Revenues for the year ending 31 March 2023 reached £670m up from £665m in the same period last year as the opening of the [...]
London homeowners face ‘grim’ mortgage cost hike of £7,300 if Bank raises rates again June 12, 2023 London homeowners looking to renegotiate their mortgage this year face a whopping £7,300 rise in annual costs as experts warn of the “grim reality” of rising interest rates. The Bank of England is predicted to hike interest rates for the 13th consecutive time this year to 5.5 per cent in efforts to cool soaring inflation, [...]
London’s workspace occupancy ‘higher than before the pandemic’, says Argyll boss June 8, 2023 The boss of London’s oldest office provider Argyll has said he has seen “unprecedented” levels of office occupancy in the last six months, defying concerns that Covid-19 had permanently pushed Londoners toward homeworking. Speaking to Morning Wire Argyll chief executive John Drover said that rates of occupancy had reached 90 per cent, with the firm [...]
House prices: London and south east falling faster than rest of the country June 7, 2023 London house prices have fallen by more than the national average, according to new data, with the south east also hit hard