UK Property

Stay informed with free updatesSimply sign up to the UK property myFT Digest -- delivered directly to your inbox.UK rents rose at a record pace of 9.2 per cent last month while house prices stagnated, with London hit hardest, as higher borrowing costs continued to squeeze both landlords and tenants.The jump in average private rents in the year to March marked the biggest annual percentage change since the Office for National Statistics began collecting data in 2015. It compared with a rise of 9 per cent in the 12 months...

Home sellers in parts of the countryside right now are having to work harder to find a buyer than in previous years. While rural home sales boomed during the pandemic — the prices of country houses with an average value of at least £2mn soared by 10.4 per cent in the year to September 2021, according to Savills estate agency — they have come up against the harsh reality of higher mortgage rates and the bursting of the work-from-home bubble.James and Samantha were typical of the buyers who rushed out...