REAL ESTATE

New research from Mind has revealed the detrimental impact that soaring mortgage costs are having on people's mental health, as well as their finances.

The UK government and the major real estate industry players have jointly launched a new group for the digital transformation of UK real estate.

JLL's Affordable Housing 2023 report projects a 120 per cent growth in the UK's affordable housing market, with an increasing interest of investors.

The British Property Federation reports that despite market challenges, the number of completed Build-to-Rent homes in the UK has increased, highlighting the sector's resilience.

The Bank of England warns that nearly one million UK households will face higher mortgage payments due to rising interest rates, potentially impacting financial stability.

Urban Logistics REIT PLC highlighted the adverse impact of Russia's invasion of Ukraine as a contribution to a significant shift in its financial performance.

Restructuring England's poor housing could yield £135 billion in societal benefits, according to the Building Research Establishment.

UK house prices grew slightly in June but fell at the fastest rate since 2009, impacted by soaring mortgage costs, with two-year fixed-rate mortgage rates climbing past six per cent.

Rising costs, affordability concerns, and economic uncertainty impact the housing market, with interest rates now standing at five per cent in the UK, the highest level since April 2008.

NHF England's report highlights the pressing housing crisis, with 8.5 million people in England lacking appropriate housing. The report calls for a long-term plan and transformative approach to address the issue ahead of the general election.

Thirty industry bodies, including housebuilders, housing associations, and charities, oppose the proposed Infrastructure Levy, warning it threatens affordable housing and infrastructure development in England.

A reported 1.3 million UK households with mortgages were already expecting increased costs at the start of the year. The latest data means there is more pain yet to come.

HSBC's return to the mortgage market amid rate adjustments reflects a turbulent landscape and changing economic conditions.

Workers at the Housing Ombudsman and the Regulator of Social Housing have announced a week of strike action in June.

Dubai's invincible real estate magnate Anthony Joseph Abou Jaoude recently gave a glimpse inside a stunning $40,000,000 Dubai luxury villa in Emirates Hills.

Year-on-year, existing home prices saw their largest decline since 2012.

Real estate developer, Erth Real Estate Company, and hospitality group, Accor, have set out plans to bring three new hotels to the Saudi Arabian capital.

"Making money off your home is ideal for people that don't have much time and want to generate cash to help with their bills," says Greg Wilson, CEO and co-founder of Quotezone.co.uk.

A recent report displays extreme vetting procedures from landlords and letting agents, with the rules and regulations established on the amount of information allowed to be used by a landlord referred to as "very opaque".

British homes sales recovered to within a whisker of pre-pandemic levels in March, representing a recovery from September when the failed economic plan of former prime minister Liz Truss sparked turmoil across markets, a survey showed on Wednesday.

British house-building fell at the sharpest pace since May 2020 last month as the cost of higher interest rates outweighed an easing in supply chain difficulties that bolstered other types of construction, according to a survey released on Thursday.

UK homeowners should consider a 'product transfer', which doesn't require legal help, when remortgaging their homes, according to Uswitch's remortgage adviser Kellie Steed.

Britain's Lloyds Banking Group signalled that falling house prices, competition on savings and rising costs may crimp future returns after reporting flat profit growth for 2022.

Average asking prices for British residential property rose by just 14 pounds ($17) in February from January, the smallest rise on record for a month which normally sees a big seasonal increase, data from property website Rightmove showed on Monday.

British house prices registered the most widespread falls in 13 years last month as buyer demand and sales activity weakened more sharply than expected in the face of higher borrowing costs and the risk of a recession, a survey showed on Thursday.