There has been a 20% fall in demand for new-build homes and interest in the London housing market due to the EU Referendum.
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Category Archives: First Time Buyers
Uncertainty created with Brexit could see house prices fall by 5% and decreasing swap rates may produce better mortgage deals.
Homeowners borrowed £8.2 billion for the month to April 2016 down £5.4 billion or 40% after a significant rise in mortgage activity last month.
Homeowners borrowed £13.8 billion in March an increase of £5.1 billion and the highest monthly amount since August 2007.
London’s new Mayor Sadiq Khan has outlined plans to quadruple the number of affordable new-build homes in the capital.
Latest data from the ONS indicates London house price growth is the highest for March for the first time this year.
UK house price growth was only 0.2% during the month of April with lower annual returns suggest a slowdown in the property market.
By 2020 first time buyers in London will need a salary of £102,000 and a deposit of £138,000, says charity Shelter.
George Osborne has warned mortgage rates would increase if the UK leaves the European Union increasing the cost to homeowners.
The surge in buy-to-let investors ahead of the stamp duty tax has helped to increase mortgage lending to a new high in February.