Property Investors Weekly News: 11/04/2022
This week we’ve pulled together some of the hottest news stories around property investment for your reading pleasure! So strap in, turn off the tv and get ready for some updates:
House price rise since first lockdown revealed
In March, UK house prices hit a record of £282,753 and was the ninth consecutive month that prices have grown. Average prices have risen by £43,577 since the first lockdown in 2020. Halifax have said that current growth in house prices is however, likely to ease over the next year as homebuyers face higher interest rates and the cost-of-living squeeze.
https://www.bbc.co.uk/news/business-61024311
How commute times impact house prices
London lettings and estate agent, Benham and Reeves latest research shows that a 30-minute train journey from the city centre is the most favourable spot for the highest price paid by homebuyers. Commutes longer than 30 minutes shows a consistent decline in property values across London, Manchester, and Birmingham.
https://www.propertyreporter.co.uk/property/how-commute-times-impact-house-prices.html
Average rents set to become cheaper than mortgage repayments for the first time in 14 years
According to Capital Economics, it expects the average monthly mortgage to exceed the price of rent by early 2023 for the first time since 2004. This is a result of increasing house prices and rising mortgage rates.
Have a great day and we look forward to working with you.
