First time property

Zoopla's most recent housing price report reveals a surprising detail: since 2016, the price of apartments in London has only risen by 2%, in stark contrast to a 34% average increase for all types of properties nationwide. Is this an indication that it's the right moment to invest in London, anticipating a return to average growth rates? In my view, it's not time just yet, but that moment will eventually arrive.

House Price Index: January 2024 - Zoopla The latest house prices and market trends with our House Price Index for January 2024. House price falls are slowing as more sales are agreed at the start of 2024.

According to Land Registry data, London's prices have experienced a 6% decline compared to the same period last year. Though this source tends to reflect changes with some delay, it still highlights a trend of decreasing prices in the South East, while in other areas, prices are maintaining much better.

London house prices fall at fastest pace since 2009 The average London home has lost £26,000 in value in just two months, according to official data

Rightmove observed a robust beginning to January, indicating a 1.3% hike in asking prices and a 20% surge in the quantity of sales agreed upon compared to the previous year. While it's not quite the return to "normal" (a concept that may be hard to recall), there's a noticeable rise in buyer confidence.

www.rightmove.co.uk

HSBC latest lender to cut mortgage rates as experts predict 'others bound to follow suit'

HSBC latest lender to cut mortgage rates as experts predict 'others bound to follow suit' The UK's average two-year mortgage rate fell to 5.92% on Wednesday, according to Moneyfacts. Both Halifax and Leeds Building Society slashed deals earlier this week.