Foxtons warns of ‘challenging’ months ahead as inflation and interest rate hikes weaken property transactions The firm said its annual turnover for 2022 are set to exceed market forecasts  Foxtons boss: ‘The economic outlook for the year ahead remains uncertain’ Mortgage rates escalated in the aftermath of a controversial ‘mini-budget’  By Harry Wise For This ...

As house prices begin to go down according to many measures, the property market is at an impasse.  There are increasing numbers of sellers setting unrealistic asking prices, perhaps buoyed by higher valuations received in months past. And meanwhile, prospective buyers are standing by and waiting for the cost of a home to fall. Seven ...

A house price crash risks “crushing” homeowners’ long-term finances, as those banking on property wealth in retirement will see their later life resilience fall seven times further than those who rent, new analysis shows. The bigger the fall in house prices, the more significant the projected damage to retirement financing, as those who hoped to ...

The couple used a property sourcer to help select houses, although Wilkinson went to view each one before committing. In order to rent properties in Wales, landlords need to be licensed and Wilkinson had to attend a training course in order to qualify. “If you want to succeed you have got to be prepared to ...

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Tax on landlords As demand outstripped supply, this only increased prices further, with tax regulations adding to the froth.  “The tax system is oriented in a way that encourages investment in property effectively as a form of savings,” says Michael Gordon, acting chief economist at Westpac Institutional Bank.  “So we’ve tended to have house prices ...

Nicola Sturgeon’s rent cap and eviction ban could soon be challenged in court amid warnings it has exacerbated a shortage of homes for tenants in the country. Propertymark, a property trade body, and the Scottish Association of Landlords and Scottish Land and Estates have submitted a court petition requesting a judicial review of the ongoing ...

UK house prices registered the most widespread falls in 13 years last month as buyer demand and sales activity shrank more sharply than expected in the face of higher borrowing costs and the risk of a recession, a closely-watched survey shows. The Royal Institution of Chartered Surveyors’ house price balance, which measures the difference between ...

Soaring energy bills have also made these properties less appealing for prospective homeowners. Jonathan Hopper, of buying agents Garrington Property Finders, said older homes that require upgrades are seeing greater price reductions in order to attract buyers. He said: “Properties that require refurbishment and a lot of work doing to them have fallen out of ...

Landlords have abandoned the Scottish buy-to-let market following Nicola Sturgeon’s tax crackdown, creating a shortage of homes for students and families in the country. Investment in new rental properties with multiple bedrooms “disappeared overnight” after the Government increased the tax paid when purchasing second homes in Scotland from 4pc to 6pc in December, estate agents ...