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There were 830,000 unwanted moves in England over the past 12 months, meaning 40% have been forced to relocateUnwanted home moves cost renters more than half a billion pounds a year, with tenants coughing up an average of £669 every time they are forced by landlords to leave their home, a survey has revealed.Analysis by the homelessness charity Shelter estimated that there had been...

Risk of declining consumption, house price falls and defaults as tighter policy finally has impactBusiness live – latest updatesThe high proportion of UK homeowners on fixed-rate mortgages means the Bank of England should be wary of keeping interest rates too high for too long, the International Monetary Fund has warned.The IMF said many borrowers had been sheltered until now from the impact of higher...

Drop in March leaves average price of home at £288,430, says HalifaxBusiness live – latest updatesUK house prices fell in March for the first time in six months as more costly mortgage deals and continued uncertainty about when the Bank of England would start cutting interest rates hit the property market.House prices fell by 1%, or £2,908, in March compared with February, according to...

Halifax says prices grew by 1.7% on an annual basis with the average UK house now costing £291,699Business live – news and updatesCornish village where 52% of houses are not first homesThe average UK house price is now just £1,800 off the peak seen in June 2022 after it increased by 0.4% in February, marking the fifth monthly rise in a row, according to...

Average cost of a home increased to £260,420 in February, up by 1.2% on a year earlier, says NationwideBusiness live – latest updatesUK house prices grew for the first time on an annual basis in more than a year in February, as a decline in borrowing costs prompted an uptick in the housing market, according to a survey.The average price of a home rose...

Watchdog says there is need for ‘significant intervention’ over supply and quality of new homesBusiness live – latest coverageThe UK competition watchdog has opened an investigation into eight housebuilders after evidence they may be sharing commercially sensitive information.The Competition and Markets Authority (CMA) launched the investigation amid concerns it could be affecting the development of sites and prices of new homes. Continue reading...

Though rapid rebound is unlikely, outlook for property market ‘is a little more positive’, says NationwideBusiness live – latest updatesThe outlook for the UK housing market is “more positive” as prices improved at their strongest rate in a year, according to Nationwide.The building society’s index found that the average house price had increased by 0.7% in January on the previous month – a significant...

Charity set up by Martin Lewis says up to 1.3m people forced to cut back on food, energy and even medicineHomeowners with mental health problems are more likely to have cut back on food and energy to keep on top of their mortgage payments, a charity set up by the consumer finance champion Martin Lewis has warned.The Money and Mental Health Policy Institute said...

Growth rates driven by shortage of properties on market, says Halifax, with average house worth £287,105UK homeowners face £19bn rise in mortgage costsUK homeowners fear 2024 mortgage timebombBusiness live – latest updatesUK house prices rose for a third consecutive month in December amid a shortage of properties on the market, but are forecast to drop this year, according to Halifax.Britain’s biggest mortgage lender, which...