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The Latest Breaking News on Real Estate

Prolonged property slump looms as interest rates expected to top 6% until 2025

“ Our prediction for an 11% decline in residential house prices over 2023 doesn’t now seem so far away,” one expert said

Evening Standard

Scots woman 'left in tears' after finding mould and cockroaches in new flat

Jess Banks, 30, was excited to move into the property on Castlemilk Road in Rutherglen on June 30 but immediately became aware that something was very wrong.

Daily Record

YouTube star Adam B's incredible gesture to help someone get on the property ladder

Adam B has amassed a following in the millions

Belfast Live

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Housebuilder reports shrinking first-time buyer numbers as mortgage rates surge

Low-cost builder MJ Gleeson said it sold fewer homes in the year to the end of June.

The Independent UK

London house price slide gathers pace as values drop 2.6% in June

The fall in the London property market is gathering pace with house prices dropping at their fastest rate since the peak of the 2009 global financial crisis last month, latest figures showed on Friday.

Evening Standard

Elevated mortgage rates are leading to sharply higher monthly payments even as home prices ease

Would-be homebuyers are willing to take on sharply higher mortgage payments, even as home prices have begun to pull back this year

The Independent UK

Here's where new home building has increased and decreased in the U.S.

Some cities are seeing an especially huge bump in new home construction.

Axios

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Perth and Kinross sees a rise in the number of families becoming homeless

The cost of living crisis has partly led to the increase as has numbers being suppressed during the pandemic

Daily Record

Mapped: House prices fall at fastest annual rate in 12 years as mortgage rates soar

Annual drop of 2.6% in June is largest year-on-year decrease since June 2011, Halifax said

The Independent UK

The pros and cons of making overpayments on your mortgage

Rising rates could prompt some people to consider paying off extra chunks of their home loan – does it make financial sense? By Vicky Shaw.

The Independent UK

House prices fall at fastest rate in 12 years

On a month-on-month basis, property values dipped for the third month in a row

Wales Online

Yorkshire housebuilder Gleeson feels effects of interest rate rises

The firm said it had seen fewer first time buyers and a higher proportion of customers aged over 55

Birmingham Post

House prices fall at fastest annual rate in 12 years

The annual drop of 2.6% in June is the largest year-on-year decrease since June 2011, Halifax said.

The Independent UK

Glasgow tenant 'burst into tears' after flat 'had cockroaches, mould and broken units'

Jess Banks was looking forward to moving into the first flat of her own but when she got there it was riddled with problems including cockroaches, broken units and mould.

Glasgow Live

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The Guardian - UK

US wage growth stronger than expected in June, but job creation slows – as it happened

Wages rose by 0.4% last month, while total nonfarm payroll employment increased by 209,000, and the unemployment rate has dropped to 3.6%

Insider UK

Occupiers turning to refurbishments to meet Grade A office demand

Latest market analysis suggests many are improving sustainability features and creating more amenities

The Independent UK

Bank of England warned 7 per cent interest rates would send shock wave through housing market

A leading economist says there is ‘no need to panic’ as Britain is ‘not in an 07-08 scenario’

Glasgow Live

Glasgow will see rise in rough sleepers if 'decisive action' isn't taken to increase accommodation

The team responsible for administering the city's homelessness services has warned that more people will be forced to sleep rough if swift action isn't taken to meet demand for accommodation.

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Evening Standard

Just two London postcodes remain with average room rents below £750 per month

At the start of this year there were still four postcodes with average room rent below £700pcm — now there are none

Manchester Evening News

A 14-storey block, hundreds of student beds and affordable homes: The big Manchester plans heard this week

Student flats and office block didn't get the green light but almost 100 homes did

Insider UK

Scottish footfall falls - but fares well in comparison to other parts of UK

Industry body predicts that rising mortgage rates and potentially higher taxes may weigh further on consumer sentiment

AAP

NSW wants rent reform this year in system 'rebalance'

The NSW government wants to fast-track rental reform through parliament to "take some of the heat out" of surging rents across the state.

Los Angeles Times

Southern California hotels hit by strike say union is unlawfully pushing housing agenda

LOS ANGELES — Amid tense negotiations over new contracts for thousands of local hotel housekeepers, receptionists and cooks, a group of Southern California hotels filed an unfair labor practice charge accusing Unite Here Local 11 of striking over policy proposals that have “nothing to do” with the employees it represents.

Belfast Live

East Belfast social housing plan recommended for refusal as City Hall officials raise "concerns"

Council report states plan's length and massing "is inappropriate to the scale of the street"

The Independent UK

Berlusconi's final will divvies up 5 billion euros in wealth; eldest children control media empire

Silvio Berlusconi has left control of his media empire to his two eldest children

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