DATA: Halifax reported UK house prices rose 3.2% in year to Apr 2025
They report(PDF) the annual rate increased from 2.9% the previous month thanks to a 0.3% monthly rise. They also report since the end of the stamp duty holiday: “While the market has cooled slightly since this rush, buyer activity remains strong in comparison to recent years”
DATA: BoE published quoted mortgage rate data for Apr 2025
The average quoted rate for two-year fixed-rate mortgages at 75% loan-to-value fell to 4.43% in April, from 4.54% the previous month. The average revert-to-rate was relatively unchanged compared to the previous month at 7.21% (7.23% previously).
DATA: DfBT published construction building materials stats for Mar 2025
The number of seasonally adjusted brick deliveries was 8.8% higher in March 2025 compared to the same month last year but was 11.6% lower than the previous month.
DATA: Financial Market Expectations For BoE’s Bank Rate
The chart provides a summary for the expected future level of Bank Rate based on daily data. The One Year figure was 3.42% on the 7th May compared to 3.39% on the 30th Apr.
DATA: New Build Energy Performance Certificates, England
This chart provides a summary of the number of EPCs on new build properties, a useful leading indicator for net additions. The 52-week rolling total was 208,482 for the week commencing 28th Apr, down from 208,955 the previous week.
POLICY: FCA launched consultation on mortgage reforms
The proposed reforms include making it “quicker and easier for consumers to discuss options with a firm”, “easier for consumers to reduce their mortgage term”, and “easier for consumers to access cheaper products when remortgaging”.
POLICY: London Mayor announced plans to release green belt land
The mayor announced “City Hall’s new position will be to actively explore the release of parts of London’s green belt for development” with the launch of a consultation on the next London Plan.
POLICY: BoE Bank Rate reduced to 4.25%
“At its meeting ending on 7 May 2025, the MPC voted by a majority of 5–4 to reduce Bank Rate by 0.25 percentage points, to 4.25%. Two members preferred to reduce Bank Rate by 0.5 percentage points, to 4%. Two members preferred to maintain Bank Rate at 4.5%.”
REPORT: BoE published Monetary Policy Report for May 2025
They report “Housing market activity has continued to strengthen, although housing investment growth remains weak” and warn that “Despite falling quoted rates on mortgages, many households continue to face higher rates when they come to refinance”.
REPORT: MHCLG’s Planning and Infrastructure Bill impact assessment
“The analysis includes higher, central and lower estimates for how much money the Bill could add to the economy over 10 years. The highest estimate was up to £7.5 billion, the central estimate was £3.2 billion and the lower estimate was £1.3 billion.”
REPORT(PDF): RICS published Residential Market Survey for April
They report “Measures of new buyer demand and agreed sales weaken further” while “Recent trend in house prices appears more or less flat at the national level” and “Forward-looking sentiment remains cautious on the near-term outlook”.
REPORT: Shelter reported on Scotland’s rent stabilisation
They report “the only comprehensive research available on the rent stabilisation measures in Scotland finds positive impacts for sitting tenants” and “There is also no strong evidence linking rent stabilisation in Scotland with the claimed negative effects for private renters”.
REPORT: HBF reported on new supply and first-time buyers
They are “urging the Government to consider a replacement equity loan scheme for first-time buyers”. Their scheme would require first-time buyers to have a 5% deposit and “This would be matched in the form of a 15% equity loan from Government, which would include a developer fee from the participating developer, equivalent to 1% of the sales price”.
REPORT: Housing LIN reported on the impact of caring on housing
Their report found “Just over a fifth of carers (21%) said they are struggling to afford their rent or mortgage payments and 38% said they were worried about increases to their rent or mortgage payments, with carers who were renting their home were much more likely to be struggling financially than carers who own their home.”
REPORT(PDF): Central London Forward reported on short term lets
They report “Of the total 117,000 short-term lets listed across London in 2024, 67% were concentrated within the 12 boroughs which make up the central London sub-region” and “Only 1% of hosts own portfolios of more than 21 properties; but almost 25% of total listings are owned by those hosts. So, a significant proportion of hosts are businesses, rather than individuals participating in the sharing economy”.
REPORT: ASI reported on new urban development corporations
They suggest government should create a new “Thames Gateway Urban Development Corporation” and it could “unlock 163,000 new homes”.
CORPORATE: Rightmove published Trading Statement
They report “Guidance remains unchanged since our 2024 full-year results, and we are reiterating our expectation of 8-10% revenue growth in 2025”.
Chart of the Week
Today UK Finance published some short analysis on the impact of family support for first-time buyers. It shows the typical first-time buyer with family assistance in 2024 had a lower income (£56k vs. £65k), a bigger deposit (£118k vs. £61k), borrowed less (£200k vs. £219k), and bought a more expensive house (£318k vs. £279k) than their peers with no family help. They also managed to buy two years earlier, with an average age of 30.2 compared to 32.5. These findings hold across all regions and countries of the UK.
