On this week’s Property News Radio Rob and Andy are back and looking at house price growth starting to slow, renters spending 40% of their income on housing costs, falling confidence among homebuyers, and out quirky news piece looks at Britons’ obsession with gadgets!
This week’s news
According to Land Registry figures for June, 7 out of 10 regions across England and Wales saw a slow in house price rises. A summer slowdown was predicted, but does this add weight to the argument that the market is slowing generally?
Not a surprise, but it now seems that private renters could be spending as much as 40% of their income on housing costs – twice as much as the average homeowner spends on a mortgage. Some interesting data to consider, but worth noting it may be skewed by London figures.
A report by Halifax says that higher prices and possible interest rate rises are making homebuyers more nervous. The survey found that people in London and the South East were most negative, whilst people in Scotland and the North East were most positive about purchasing a house.
Finally our quirky news piece points to Britons being kitchen gadget crazy, with 44% of households using a slow cooker and 13% using ice cream makers. The article also reveals Manchester to be the hot tub capital of the UK, with 1 in 12 Mancunians owning one!
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