Blog | Red Squirrel Property Shop in Newport, Isle of Wight

Details: Published: 16 August 2023; Hits: 409

Overview

Annual UK house price inflation at +0.6%
60% with over £300k price cutting asking prices by 5% to attract demand
Annual price falls of up to -2.2% concentrated in southern England on markets with an average price over £300,000
Other areas of England registering annual house price inflation of over 3.5%
Buyer demand down 18% in last two months due to mortgage rates
Rates peaking and already signs of dropping back closer to the 4% region
Likely to be the southern areas seeing price reductions throughout second half of the year with northern areas performing well
UK markets till on track to be down by 5% end of year
Mortgage decreased down to 4.99%
80% of markets with an average price over £300k registering modest price falls

Details: Published: 22 July 2023; Hits: 600

Getting a mortgage can be one of the biggest financial decisions you will ever make in your life. Here is a guide where we give you some top tips to help prepare you for a mortgage and the best way you can take a step further to a mortgage offer.

However, there are some risks that can prevent you from being approved of a mortgage offer. This can be due criminal records, No credit score or poor credit score or not enough deposit.

Details: Published: 18 July 2023; Hits: 478

UK Half year report 2023

Overview

House price inflation to 1.2% increase as quarterly demand has increased
42% of sellers are accepting offers 5% or more under asking price
UK house prices still on track to drop by 5% in total during 2023
Anyone serious about selling in 2023 needs to be realistic on pricing “Falling mortgage
11% Hit to buying power with higher mortgage rates
14% Fewer buyers in the market in last 4 weeks, compared to 5-year average