Two pillars have long held up hundreds of thousands of retirement dreams: the stock market and the property market. Cracks have emerged in both this year. Savers relying on their workplace pension have watched the value of their pots sink, thanks to a twin sell-off in both the bond and stock markets.
An accountancy firm says that 70,000 buy-to-let landlords have exited the UK’s rental market over the last 12 months.
London has returned as the go-to destination for potential property buyers, Rightmove claims.
Soaring inflation following the long-term impacts of the coronavirus pandemic and Russia's war with Ukraine has led to a rollercoaster ride for Britain's housing market over the past three years.
Average house prices in the UK have fallen for the fourth consecutive month with the prospect that an annual price fall is likely, Halifax reports.
The rising price of materials and the increased cost of carrying out construction work are shaking the industry to its core.
It has been a turbulent year for homeowners, with mortgage rates surging and signs house prices could be starting to drop. Interest rates have steadily risen, with the Bank of England raising its base rate for the ninth time in a row to 3.5%.
Buy-to-let investors are swooping to snap up property bargains as buyer demand disappears amid the housing market downturn.
- Private Rents Continue To Rise, ONS Data Shows
- UK Inflation Eases In November
- Millions Of Younger Adults Worried About the Cost-Of-Living Crisis Impeding Their Homeownership Plan
- Bank of England Raises Rates to 3.5% Increasing Pressure on Homeowners
- Rent Arrears Are the Big Fear For 2023
- High-Rise Mortgage Costs See Surge in Rents Across The UK
- House Prices Fall by The Biggest Amount in 14 Years
- Sterling Drops as Falling UK House Prices Add to Recession Worries