Nationwide reports the steepest decline in UK house prices in 14 years
UK house prices experienced their swiftest annual decline in 14 years during July, as indicated by Nationwide. The building society noted a 3.8% drop in prices, marking the largest yearly decrease since July 2009. Nationwide pointed out that elevated mortgage interest rates presented a challenge to potential homebuyers’ affordability. July saw mortgage costs reach their […]
Warning UK mortgage rates set to rise further
Mortgage borrowers are being cautioned about further increases in mortgage rates as the market faces ongoing turbulence. London & Country, a broker, stated that lenders have been steadily withdrawing deals and raising rates, with more of the same expected in the coming week. Over the past month, mortgage rates have risen by approximately 0.5 percentage […]
UK interest rate rise: how will it affect you?
The Bank of England has once again increased the interest rates in the UK, marking the 12th consecutive rise since December 2021. This latest hike raises the base rate to 4.5% and will have implications for individuals’ financial situations. For the approximately 2.2 million people with variable rate mortgages, this news brings further negative consequences. […]
Coronavirus hit the real estate industry hard
About 85 percent of real estate companies have closed or their activity has been reduced since the beginning of the isolation period due to the pandemic, but more than half are actively trying to prepare for the recovery. A study released by the Association of Real Estate Agents of Portugal (ASMIP) with its members, found […]
Real estate recession? Not so fast!
Only a couple of weeks ago we were wondering if there will be a recession because of the coronavirus. Didn’t take long to find out. Even though we don’t yet know what we’re in for—as Dr. Fauci says, “you don’t make the timeline, the virus makes the timeline” —we can start to think about the consequences for […]
Missed rent payments cascade across the real estate industry
The swelling ranks of unemployed Americans and images of shuttered shops and empty streets have begun to tell the grim tale of the economic destruction caused by the Covid-19 pandemic. They also presage a brewing real estate crisis. About $81 billion in commercial rent comes due in a typical month in the U.S. The delay of a sizable portion of that […]