UK Property

New research has found Scottish towns are the cheapest in the UK for first-time buyers.Analysis from property website Rightmove also found that a typical monthly mortgage payment on a first-time buyer property is £350 more than five years ago.Scottish towns made up half of the top ten list of lowest-priced areas across the UK for first-time buyers.Kilmarnock in East Ayrshire was the most affordable, with a typical first home costing £84,325.Greenock and Paisley both come in at under £100,000, and East Kilbride and Ayr are just over.Across Scotland, the average...

The Financial Conduct Authority will take a look at simplifying the rules around getting a mortgage in a bid to help people struggling to get on the property ladder14:34, 07 Mar 2025Updated 14:52, 07 Mar 2025FCA chief executive Nikhil Rathi said firms have the flexibility to help more people become homeowners (Image: PA Archive/PA Images)The financial watchdog is gearing up to take "swift action" on making mortgages more accessible, with plans for a discussion about the future of the mortgage market this summer.Come May, the Financial Conduct Authority (FCA) will...

A "delicate balance" was seen in the property market in February, with the average house price dipping by £213 month-on-month, according to an index. Property values fell by 0.1% on a monthly basis, taking the average house price in February to £298,602.Steady annual house price growth was maintained at 2.9%, consistent with what was recorded in January. Amanda Bryden, Halifax's head of mortgages, said: "February's figures highlight the delicate balance within the UK housing market. While there's been talk of a last-minute rush on new mortgages ahead of the changes...

Stay informed with free updatesSimply sign up to the UK house prices myFT Digest -- delivered directly to your inbox.UK house prices unexpectedly dipped in February, as an uptick in property sales driven by a tax holiday came to an end, according to mortgage lender Halifax.The average UK house price fell 0.1 per cent from January to £298,602, Halifax said. On an annual basis, the average price rose at a rate of 2.9 per cent, the same rate as January.The price changes were below forecasts. Economists polled by Reuters had...

The company said that "supportive" property market trends in the early months of this year would support a rise in revenue of between 8% and 10% compared with 202412:52, 28 Feb 2025Updated 12:53, 28 Feb 2025Average revenue per advertiser, a closely-watched indicator for Rightmove, rose 6% (Image: PA Wire/PA Images)Rightmove has predicted a revenue growth of up to 10% this year, as lower mortgage rates due to rate cuts attract more potential homebuyers to its website.The company noted "supportive" property market trends in the early months of this year, with...

House sales are taking more than three months to complete once an offer has been accepted, according to analysis by property buying website OneDome.The research looked at almost 200,000 property listings over the course of 2024 and found that property transactions took an average of 108 days to complete.However, in some parts of the country, buyers are finding they are having to wait for an agonising five months.Buyers in the capital typically face the slowest completion times.The north London borough of Islington was found to be the slowest market in the...

Earlier this year, The Holme, a 40-bedroom Georgian property in Regent’s Park that was listed for £250mn in March 2023, finally sold for £138.9mn. After almost two years of failing to attract buyers, it had achieved a price cut of more than £111mn. Sure, this is an extreme example of overvaluing at the very top end of the super-prime market, but it paints a picture of how overvaluations are out of control across the property landscape and how they not only put off buyers but stall certain segments of the real estate...

Half of UK farms could go out of business by 2035 due to proposed changes to inheritance tax (IHT), as farmers grapple with the financial burden of the so-called “Family Farm Tax”. That’s according to the findings of a survey, commissioned by Ashbridge Partners and involving 2,000 British farmers. It reveals that 39% of farms will be unsustainable within the next five years, with 56% expecting to close by 2035. See also: Inheritance tax in the spotlight at FW Question Time The changes to agricultural property relief, set to take...

Rents are growing at their lowest rate for three and a half years in a new blow for property investors.Buy-to-let landlords have already been facing higher taxes and scaled back mortgage reliefs, as well as impending rental regulations - and now the profits from their property portfolio are at further risk.Zoopla’s latest quarterly Rental Market Report found the average UK rent for a new let now stands at £1,284 per month annually. Subscribe to MoneyWeek Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE Get 6...

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UK rental prices rose at the slowest annual rate in more than three years in January as tenant demand eased, according to data that signals a softening in the prolonged squeeze on renters’ finances. Monthly rent for new tenancies increased by an annual rate of 3 per cent in January, taking the average cost to £1,284, according to data published by Zoopla on Tuesday. The reading from the property portal was down...