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The Latest Breaking News from Housing Market

Demand from house hunters fell for tenth month in a row in February – surveyors

The majority of the feedback points to house sales being agreed within 5% of asking prices, the Royal Institution of Chartered Surveyors said.

The Independent UK

Zillow picks 238 housing market winners that will see home prices tick up and 156 losers facing a price cut

Zillow economists think the national housing market correction could be nearing its bottom. But not everywhere.

Fortune

The U.S. housing market just took another hit

This week's seasonally adjusted Mortgage Purchase Application Index came in at the lowest level since 1995.

Fortune

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Real estate Q&A: What’s going on with the housing market?

Q: We have to move for family reasons and put our house up for sale. It has been several months, and we are not getting much interest. Our real estate agent keeps telling us to lower the price, but I know what our home is worth. Just a year or…

Tribune News Service

Taylor Wimpey plans job cuts amid downturn in UK housing market

Building company aims to save £20m, but declines to say how many of its 5,000 workforce will be affected

The Guardian - UK

Yorkshire Building Society profits top £500m amid continued high mortgage lending

The society said it was unsure how inflation's impact on the housing market would play out

Birmingham Post

UK economy slightly stronger than expected, says BoE’s Pill; WH Smith hit by cyber attack – as it happened

Books-to-stationery retailer says a cyber security incident has resulted in illegal access to current and former employee data, though website and customer accounts are unaffected

The Guardian - UK

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Brisbane City Council to allow CBD height apartment buildings in South Brisbane increasing to 270m

The change to apartment height limits comes as part of the council's Brisbane Sustainable Growth Strategy, adding a supposed 10,000 dwellings to the housing market.

ABC News

Chinese banks try to revive housing market with mortgages for 95-year-olds

‘Relay loans’ that can pass on to children follow other moves to make borrowing more flexible

The Guardian - AU

How rising interest rates sent the UK housing market into reverse

An end to ultra-low rates mean borrowers can only afford smaller mortgages

The Guardian - UK

Persimmon warns on profits after economic turmoil hit the housing market

Housebuilding giant Persimmon’s boss cautioned that sales rates seen over the last five months mean completions will be down markedly this year

Evening Standard

Bank of England chief signals interest rates may have peaked; mortgage approvals and house prices fall – as it happened

UK house prices fall year-on-year for first time since June 2020; consumer credit doubles as people borrow more on credit cards amid cost of living crisis

The Guardian - UK

Most secondary schools do not prioritise poorer pupils for admission – study

Affluent parents have the resources to ‘buy admission to popular schools’ through the housing market, a report has suggested.

The Independent UK

Michael Pascoe: Why governments must meaningfully re-enter the housing market

Neither federal Labor nor the Coalition has any interest in dealing with the fundamentals underlying the housing crisis.

The New Daily

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Fortune

The Pandemic Housing Correction is both mild and the second biggest home price pullback of the post-WWII era

U.S. home prices as measured by the seasonally adjusted Case-Shiller National Home Price Index fell for the sixth straight month in December.

Fortune

These 124 housing markets are weathering the home price correction (so far) in 1981 fashion

Among the nation's 400 largest housing markets tracked by Zillow, 124 markets remain at their peak.

Fortune

Fannie Mae: The housing market just pulled a head fake

The housing market’s “relative high note” in January and February is likely to “prove temporary,” say Fannie Mae economists.

The Independent UK

Average long-term US mortgage rate jumps to 6.5% this week

The average long-term U.S. mortgage rate jumped this week to its highest level since November, more bad news for a housing market that’s been in decline for a year

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The Guardian - US

The American climate migration has already begun

Millions of Americans will be displaced – and neither they, the government or the housing market are ready

Evening Standard

Restrict home purchases in certain areas and reform property taxes to tackle unfair housing system, says charity

Those who are currently locked out of or struggling to cope in the housing market may become even worse off, the Joseph Rowntree Foundation said.

Tribune News Service

Housing market starts year on slow note in Las Vegas, US

Las Vegas’ housing market started the year on a slow note — and, a new report shows, so did the country overall.

Fortune

The housing market correction has already caused homeowners to lose $2.3 trillion

A correction in home prices has erased $2.3 trillion in nationwide home values, but homeowners are still up roughly $13 trillion since February 2020.

The Independent UK

Changes needed to make housing system fairer in longer term, charity says

Those who are currently locked out of or struggling to cope in the housing market may become even worse off, the Joseph Rowntree Foundation said.

Fortune

The housing market correction just took a new turn

"Builders have taken their medicine for the most part right now on pricing," says Rick Palacios Jr., head of research at John Burns Real Estate Consulting.

The Guardian - UK

Tesco store workers get 7% pay increase; UK property asking prices stagnating – as it happened

Supermarket chain lifts hourly pay rates again, while UK property asking prices rose by £14 in February

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