{"id":131868,"date":"2022-12-01T14:28:18","date_gmt":"2022-12-01T07:28:18","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-post-biggest-fall-since-2020-after-mini-budget-chaos-business-live\/"},"modified":"2022-12-01T14:38:16","modified_gmt":"2022-12-01T07:38:16","slug":"uk-house-prices-post-biggest-fall-since-2020-after-mini-budget-chaos-business-live","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-post-biggest-fall-since-2020-after-mini-budget-chaos-business-live\/","title":{"rendered":"UK house prices post biggest fall since 2020 after mini-budget chaos \u2013 business live"},"content":{"rendered":"


\nAverage UK house prices fell 1.4% in November, as \u201cthe fallout from the mini-budget continued to impact the market,\u201d says NationwidePotential buyers are now haggling house price down, reports north London estate agent Jeremy Leaf. \u2018Prices are softening but could have fallen further were it not for those two stalwarts \u2013shortage of supply and strong employment, despite continuing concerns over the rising cost of living and particularly mortgage repayments.\u2018The problem is not existing sales, the overwhelming majority of which are proceeding, but new business. However, some buyers are returning now that mortgage rates are beginning to fall but they are more aware of their stronger position so are negotiating hard.\u2019Financial markets have been reassured by new government\u2019s economic plan but the mortgage market is playing catch up. Mortgage rates should keep edging downwards as the effects of the mini-Budget wash through the system, which should settle the nerves of buyers and sellers, even as a 13-year period of ultra-low borrowing costs comes to an end.We expect house prices to fall by 10% over the next two years and the reality of higher rates will bite more after Christmas. Mortgage offers made before the mini-Budget will begin to lapse and increase downwards pressure on prices from 2023.\u201d Continue reading…
\n
\nSource : theguardian.com
\nRead more…UK house prices post biggest fall since 2020 after mini-budget chaos \u2013 business live<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Average UK house prices fell 1.4% in November, as \u201cthe fallout from the mini-budget continued...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-131868","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-yiU","jetpack-related-posts":[{"id":130772,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-rise-in-october-despite-economic-turmoil\/","url_meta":{"origin":131868,"position":0},"title":"UK house prices rise in October despite economic turmoil","date":"October 17, 2022","format":false,"excerpt":"\r Average price of a property coming to market up 0.9%, says Rightmove, but first-time buyer demand has droppedAsking prices for houses in the UK edged higher in October, although demand from first-time buyers has dropped as mortgage rates surge.Despite the economic turmoil since the government\u2019s mini-budget last month, there\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":130422,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-buyers-left-powerless-as-mortgage-deals-hang-in-balance\/","url_meta":{"origin":131868,"position":1},"title":"UK house buyers \u2018left powerless\u2019 as mortgage deals hang in balance","date":"October 2, 2022","format":false,"excerpt":"\r Chancellor\u2019s mini-budget sees home loans withdrawn and purchasers left in limboHomeowners and potential buyers have been left feeling \u201ctotally powerless\u201d this weekend as thousands wait to find out whether their mortgage deals will now cost them hundreds of pounds extra a month while brokers report people already pulling out\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136057,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/asking-price-of-properties-popular-with-uk-first-time-buyers-hits-record\/","url_meta":{"origin":131868,"position":2},"title":"Asking price of properties popular with UK first-time buyers hits record","date":"April 24, 2023","format":false,"excerpt":"\r Average of \u00a3224,963 for homes with one or two bedrooms is 2% higher than a year ago, says RightmoveThose people hoping to get on to the UK housing ladder are facing record asking prices, as calm returns to the sector after last autumn\u2019s mini-budget spooked the markets.Rightmove, the property\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131577,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/exodus-of-first-time-buyers-puts-brakes-on-uk-housing-market\/","url_meta":{"origin":131868,"position":3},"title":"Exodus of first-time buyers puts brakes on UK housing market","date":"November 14, 2022","format":false,"excerpt":"\r Hike in mortgage costs after mini-budget cuts 20% off buyer demand in OctoberFirst-time buyers pulled back most from purchasing a home after the increase in mortgage costs following the mini-budget, according to a report showing a widespread slowdown in the property market. Figures from the property platform Rightmove show\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131412,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-fall-after-significant-shock-of-mini-budget\/","url_meta":{"origin":131868,"position":4},"title":"UK house prices fall after \u2018significant shock\u2019 of mini-budget","date":"November 7, 2022","format":false,"excerpt":"\r Halifax reports steepest monthly drop since February 2021 amid interest rate risesUK house prices fell by 0.4% in October after Liz Truss\u2019s mini-budget drove a sudden rise in mortgage rates, the lender Halifax said.The decline in the average price to \u00a3292,598 was the third in the past four months\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131303,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-fall-for-first-time-in-15-months-after-liz-truss-mini-budget\/","url_meta":{"origin":131868,"position":5},"title":"UK house prices fall for first time in 15 months after Liz Truss mini-budget","date":"November 1, 2022","format":false,"excerpt":"\r Average price of a property drops to \u00a3268,282 in October as interest rate rises hit affordabilityUK house prices fell for the first time in more than a year in October, as the Liz Truss government\u2019s mini-budget wreaked havoc on the housing market, pushing mortgage rates sharply higher.The average price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/131868"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=131868"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/131868\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=131868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=131868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=131868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}