{"id":17450,"date":"2023-08-01T13:15:03","date_gmt":"2023-08-01T12:15:03","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=17450"},"modified":"2023-08-01T13:15:31","modified_gmt":"2023-08-01T12:15:31","slug":"home-finance-in-the-news-7","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2023\/08\/01\/home-finance-in-the-news-7\/","title":{"rendered":"Home Finance &#8211; In the news"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Apartment sales drive recovery&nbsp;<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Agreed residential sales have returned to pre-pandemic levels for the first time since September 2022<sup>1<\/sup>. The number of sales in March 2023 was only 1% behind March 2019, with the recovery largely driven by sales of apartments, which are now 10% above 2019 levels. In total, agreed sales remain 18% below the exceptionally busy market of this time last year.&nbsp;&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Mortgage repayments rise&nbsp;<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Buyers are paying up to 60% more on their monthly mortgage repayments compared to December 2021, according to new research<sup>2<\/sup>. The average two-year fixed rate on a 95% LTV mortgage, the analysis showed, has monthly repayments of \u00a31,793, which is \u00a3615 per month higher than 15 months ago.&nbsp;&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Homeowners underestimate <\/strong><strong><em>\u2018rebuilding\u2019 <\/em><\/strong><strong>costs&nbsp;<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Roughly nine in 10 homes have underestimated the amount of cover they need to account for <em>\u2018rebuilding\u2019<\/em> costs on their property insurance, estimates show<sup>3<\/sup>. This is largely because costs have shot up by 18% in a year, resulting in the average three-bed semi-detached home now costing \u00a353,000 more to rebuild than it would have in February 2022.&nbsp;&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>Rightmove, 2023&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>2<\/sup>House Buyer Bureau, 2023&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>3<\/sup>Building Cost Information Service, 2023&nbsp;&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.<\/strong>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Apartment sales drive recovery&nbsp;&nbsp; Agreed residential sales have returned to pre-pandemic levels for the first time since September 20221. The number of sales in March 2023 was only 1% behind March 2019, with the recovery largely driven by sales of apartments, which are now 10% above 2019 levels. In total, agreed sales remain 18% below [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":17451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,91],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/17450"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=17450"}],"version-history":[{"count":5,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/17450\/revisions"}],"predecessor-version":[{"id":17456,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/17450\/revisions\/17456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/17451"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=17450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=17450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=17450"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=17450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}