{"id":197395,"date":"2023-10-09T11:45:00","date_gmt":"2023-10-09T15:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=197395"},"modified":"2023-10-09T12:11:30","modified_gmt":"2023-10-09T16:11:30","slug":"the-property-ladder","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/the-property-ladder\/","title":{"rendered":"The Property Ladder"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-what-s-going-on\">What&#8217;s going on?<\/h2>\n\n\n\n<p>The British housing market took a slide in&nbsp;<a href=\"https:\/\/ukinvestormagazine.co.uk\/halifax-uk-house-price-index-house-prices-are-falling-and-will-likely-fall-into-next-year\/\">September<\/a>, sending hopeful sellers back by more than a few places.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-does-this-mean\">What does this mean?<\/h2>\n\n\n\n<p>UK house prices were staying true to the country\u2019s spirit, remaining stoic and unemotional in the face of economic uncertainty. But a tremble on an upper lip quickly opened the floodgates, and property prices headed south, fast. September\u2019s 0.4% drop from the month before means folk sold their keys for nearly 5% less than the same time last year, according to UK lender Halifax. That difference was slightly smaller in London, while the South of England saw the biggest change.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-should-i-care\">Why should I care?<\/h2>\n\n\n\n<p><strong><em>For markets:&nbsp;<\/em><\/strong><em>I\u2019m holding out for a bargain.<\/em><\/p>\n\n\n\n<p>September\u2019s price dip was a lot less steep than August\u2019s, though, which Halifax believes is a sign that prices are about to hit their lowest point. But property experts disagree: they reckon prices will end up about 10% lower than before they started falling. Either way, inflation will likely call the shots. If it hits the Bank of England\u2019s 2% target over the next few months, mortgage lenders will anticipate lower interest rates and bring down their own borrowing rates. Would-be homeowners, then, should keep an eye on the next inflation reading, out on October 18th.<br><br><strong><em>Zooming out:&nbsp;<\/em><\/strong><em>Alexa, play Bills, Bills, Bills by Destiny\u2019s Child.<\/em><\/p>\n\n\n\n<p>The British rental market\u2019s moving in the complete opposite direction, with online property firm Rightmove saying rents jumped by 12% in August from the month before. That means regular tenants are scrambling to find \u00a31,300 ($1,590) on average every month to put a roof over their heads. And unfortunately for renters, those bills could build: interest rates are still sending landlords\u2019 mortgages higher, and those increases tend to be funneled into rents with a delay.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted October 9, 2023 &#8211; <a href=\"https:\/\/go.finimize.com\/wp\/news\/the-property-ladder\/\">The Property Ladder<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British housing market took a slide in\u00a0September, sending hopeful sellers back by more than a few 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