Tag: housing affordability
Bank of England cuts interest rates to 5% in first reduction since March 2020
https://www.theguardian.com/business/article/2024/aug/01/bank-of-england-cuts-interest-rates?CMP=Share_AndroidApp_Other It is the first reduction in borrowing costs since the Bank began ratcheting up interest rates from a record low of 0.1% in December 2021 to 5.25%, their highest level since before they were slashed in the 2008 financial crisis.
Through the roof
Through the roof: rising rents, disrepair, and evictions https://www.citizensadvice.org.uk/policy/publications/through-the-roof-rising-rents-evictions-and-persistent-disrepair/ Private renters are at the sharp end of the living standards crisis, facing a perfect storm of ever-increasing rents, damp, cold and mouldy homes, and very little power to do anything about it. We’re urging the new government to prioritise renters when tackling the living standards…
£1,314 per month
Renting scandal deepens as prices hit record high while almost half live in unfit homes The average rent being asked outside London has hit a new record of £1,314 per month, with each property typically receiving 17 inquiries from prospective tenants, according to a website. A year ago, the average monthly advertised rent across Britain,…
Quoted household interest rates
Quoted interest rate series are calculated monthly, as weighted averages for a range of lending and deposit products offered to households. https://www.bankofengland.co.uk/statistics/visual-summaries/quoted-household-interest-rates
supported housing in the UK
To apply for supported housing in the UK for people over 55, you can contact your local authority or a housing association: Local authority Many local authorities use a choice-based lettings scheme, where available properties are advertised on their website. You can register using their housing application form, and they will assess your needs, such…
No fault evictions, and the kings speech
King’s Speech outlines details of plans to give renters much greater security and stability, but also to ensure that private landlords have ‘robust’ possession grounds to reclaim their properties when they need to The government has today confirmed its plan to introduce new legislation that will include provision to abolish ‘no-fault’ section 21 evictions.
Housing affordability in England and Wales: 2023
https://www.ons.gov.uk/peoplepopulationandcommunity/housing/bulletins/housingaffordabilityinenglandandwales/2023 Long-term house price growth causing reduced affordability Housing affordability ratio, earnings, and house prices by local authority district, England and Wales, 1997 to 2023