{"id":138307,"date":"2023-07-13T23:52:13","date_gmt":"2023-07-13T16:52:13","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-crash-is-unlikely-but-the-fall-in-uk-home-prices-has-a-long-way-to-go-nils-pratley\/"},"modified":"2023-07-14T00:09:48","modified_gmt":"2023-07-13T17:09:48","slug":"a-crash-is-unlikely-but-the-fall-in-uk-home-prices-has-a-long-way-to-go-nils-pratley","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-crash-is-unlikely-but-the-fall-in-uk-home-prices-has-a-long-way-to-go-nils-pratley\/","title":{"rendered":"A crash is unlikely, but the fall in UK home prices has a long way to go | Nils Pratley"},"content":{"rendered":"


\nFirst-time buyers face higher mortgage rates, and surging rents and bills prevent saving for deposits \u2013 no wonder there\u2019s a big slowdown Inquiries by would-be buyers of homes hit an eight-month low last month, according to the Royal Institution of Chartered Surveyors, which talked about \u201ca renewed deterioration in UK home sales\u201d. On the same theme, Barratt Developments\u2019 trading update on Thursday related a near-halving in reservations from first-time buyers year-on-year. And the estate agent Winkworth warned this week on profits because of a slump in activity.In other words, the news from the housing market is exactly as you would expect when buyers are adjusting to the new reality of sharply higher mortgage rates. The big slow-down is on, even if Barratt added that demand among existing homeowners is more resilient. A typical two-year fixed deal has risen to 6.66%, a 15-year high on Moneyfacts data. Continue reading…
\n
\nSource : theguardian.com
\nRead more…A crash is unlikely, but the fall in UK home prices has a long way to go | Nils Pratley<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

First-time buyers face higher mortgage rates, and surging rents and bills prevent saving for deposits...<\/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-138307","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-zYL","jetpack-related-posts":[{"id":134429,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/grounds-for-optimism-in-uk-housing-market-says-barratt\/","url_meta":{"origin":138307,"position":0},"title":"Grounds for optimism in UK housing market, says Barratt","date":"February 8, 2023","format":false,"excerpt":"\r Housebuilder reports \u2018modest uplift\u2019 in reservations of new homes in January but remains cautiousBritain\u2019s largest housebuilder, Barratt Developments, has reported grounds for optimism in the UK housing market after an increase in sales in January \u2013 but it said the trading outlook for 2023 remains \u201cuncertain\u201d.Barratt has seen a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":146903,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/barratt-profits-plunge-75-as-number-of-houses-built-slumps\/","url_meta":{"origin":138307,"position":1},"title":"Barratt profits plunge 75% as number of houses built slumps","date":"September 4, 2024","format":false,"excerpt":"\r Cost of living crisis, higher mortgage rates and weak consumer confidence weigh on housing market in past yearBarratt Developments has suffered a 75% drop in annual profit and a double-digit decline in home completions after a \u201cchallenging\u201d year for Britain\u2019s biggest housebuilder.The company said the past year had proved\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":171868,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/young-first-time-buyers-face-toughest-time-since-financial-crisis-says-uk-housebuilder\/","url_meta":{"origin":138307,"position":2},"title":"Young first-time buyers face toughest time since financial crisis, says UK housebuilder","date":"May 28, 2026","format":false,"excerpt":"\r Barratt Redrow boss says rising interest rates, higher student debt and squeeze on wages hitting property dreamBusiness live \u2013 latest updatesThe boss of Britain\u2019s largest housebuilder has said it is the most challenging time to be a first-time buyer since the financial crisis, as the dream of home ownership\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139919,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/barratt-warns-of-uncertain-year-as-buyers-struggle-with-mortgages\/","url_meta":{"origin":138307,"position":3},"title":"Barratt warns of \u2018uncertain\u2019 year as buyers struggle with mortgages","date":"October 18, 2023","format":false,"excerpt":"\r UK housebuilder\u2019s sales also dented by absence of government\u2019s help-to-buy schemeBusiness live \u2013 latest updatesBritain\u2019s biggest housebuilder has warned of a tough market, with would-be buyers still struggling to secure an affordable mortgage.With people taking longer to reserve a new home, Barratt Developments\u2019 forward sales fell to 9,221 in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119688,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/barratt-boosted-by-rush-back-to-housing-market\/","url_meta":{"origin":138307,"position":4},"title":"Barratt boosted by rush back to housing market","date":"January 8, 2021","format":false,"excerpt":"\r UK housebuilder\u2019s agreed sales rise 14% as buyers take advantage of stamp duty relief\r \r Source : ft.com\r Read more...Barratt boosted by rush back to housing market","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117604,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/housebuilder-barratt-calls-for-help-to-buy-extension\/","url_meta":{"origin":138307,"position":5},"title":"Housebuilder Barratt calls for Help to Buy extension","date":"July 6, 2020","format":false,"excerpt":"\r UK government scheme set to be limited to first-time buyers from next April and to end in 2023\r \r Source : ft.com\r Read more...Housebuilder Barratt calls for Help to Buy extension","rel":"","context":"In "Property 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