Latest news with #Bryden
Metro
3 days ago
- Business
- Metro
This is how much the average UK house price fell by in May
UK house prices have fallen by around £1,150 in May, despite property values increasing by more than £7,000 in 2024. Halifax found that May's month-on-month price fall followed a 0.3% increase in April, following a slower growth in house prices in the past two months. Halifax's latest report contrasts with the findings from Nationwide Building Society's latest house price index, released on Monday this week. Nationwide said that property values had increased by 0.5% month-on-month in May, following a 0.6% fall in April. Amanda Bryden, head of mortgages at Halifax, said: 'Over the past 12 months, prices have grown by 2.5%, adding just over £7,000 to the value of a typical home, which now stands at £296,648. 'These small monthly movements point to a housing market that has remained largely stable, with average prices down by just 0.2% since the start of the year.' Ms Bryden added that the affordability of homes remains a challenge, as house prices are still high compared to incomes. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 'Despite ongoing pressure on household finances and a still uncertain economic backdrop, the housing market has shown resilience – a story we expect to continue in the months ahead,' she said. Iain McKenzie, chief executive of the Guild of Property Professionals, said: 'The key fundamentals supporting home buyers remain strong – low unemployment, rising real earnings, and the continued anticipation of easing borrowing costs in the medium-term.' The head of sales at estate agent Chestersons, Matt Thompson, pointed out that some home buyers paused their search in April, but quickly resumed in May. More Trending 'Buyer motivation was then boosted further by the Bank of England's decision to cut interest rates to 4.25%. We expect a busier-than-usual summer market,' he said. Halifax pointed out that house price growth across Northern Ireland, Wales and Scotland has been outpacing regions in England. In London, house prices have increased by just 1.2% year-on-year, the report said. View More » But Halifax said that London remains the most expensive part of the UK housing market, with the average home priced at £542,017. East Midlands, £244,754, 2.8% Eastern England, £334,720, 1.6% London, £542,017, 1.2% North East, £175,174, 2.0% North West, £240,823, 3.7% Northern Ireland, £209,388, 8.6% Scotland, £214,864, 4.8% South East, £391,253, 1.8% South West, £304,519, 1.1% Wales, £230,405, 4.8% West Midlands, £260,118, 3.0% Yorkshire and the Humber, £213,983, 3.7% Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: New solar panels 'could cut people's bills by £530 per year' MORE: Cost of comfortable retirement revealed — here's how much you need yearly MORE: Octopus Energy gives away free energy for three hours today – here's how to claim Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
Yahoo
4 days ago
- Business
- Yahoo
Average UK house price falls £1,150 in May
Average UK house prices dipped 0.4% in May, representing a fall of nearly £1,150, after changes to stamp duty came into effect, according to the latest data from Halifax. The average UK property is now valued at £296,648, down from £297,781 in April, when house prices rose for the first time this year. On an annual basis, prices rose to 2.5% – adding just over £7,000 to the value of a typical home – though this was down from 3.2% in April. Amanda Bryden, head of mortgages at Halifax, said: 'These small monthly movements point to a housing market that has remained largely stable, with average prices down by just -0.2% since the start of the year. The market appears to have absorbed the temporary surge in activity over spring, which was driven by the changes to stamp duty." "Affordability remains a challenge, with house prices still high relative to incomes," she added. "However, lower mortgage rates and steady wage growth have helped support buyer confidence." "The outlook will depend on the pace of cuts to interest rates, as well as the strength of future income growth and broader inflation trends," Bryden said. "Despite ongoing pressure on household finances and a still uncertain economic backdrop, the housing market has shown resilience – a story we expect to continue in the months ahead." Halifax data showed that house price growth across Northern Ireland, Wales and Scotland continued to outpace English regions. Northern Ireland once again recorded the fastest pace of annual property price inflation, up by 8.6% over the past year, with the typical home now costing £209,388, though this was still well below the UK average. Read more: Mortgage lenders raise rates amid uncertainty over BoE interest rate cuts In England, North West and Yorkshire and the Humber saw the fastest annual house price growth of 3.7%, with the average property in these areas now costing £240,823 and £213,983 respectively. London continued to see more subdued growth, with prices up just 1.2% year-on-year, though the capital remained by far the most expensive part of the UK housing market, with the average home costing £542,017. Professor Joe Nellis, economic adviser at MHA, the accountancy and advisory firm and one of the creators of the Halifax House Price Index, said that price "growth is set to continue as huge demand for houses persists in the UK. This is something that the government has recognised, setting an ambitious target to build 1.5 million new homes by 2029, but recent estimates suggest that this is looking overly optimistic." "One thing to consider over the next year is the Renters' Rights Bill introduced to parliament by Angela Rayner in her role as secretary of state for housing," he said. "Expected to pass in the autumn, this bill will provide greater protection for tenants and impose new restrictions on landlords, including ending 'no fault' evictions." "These new restrictions could disincentivise landlordism, encouraging the sale of rental properties and increasing supply, or discouraging potential landlords from buying properties and reducing demand," he added. "Both scenarios would apply downward pressure on prices and provide some respite for would-be homeowners." Holly Tomlinson, financial planner at Quilter, said: "The fact that prices fell only modestly in May indicates that supply remains constrained and sellers have not yet been forced to adjust their expectations. However, with affordability still stretched and borrowing costs relatively high, the risk of a more prolonged slowdown cannot be ignored." Read more: 11 homes with spectacular swimming pools UK mortgage approvals drop for third month in a row Home renovation mistakes and how to avoid themError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
4 days ago
- Business
- Business Times
UK house prices slid in May following stamp duty tax hike
[LONDON] British house prices fell by more than expected in May following an increase in property transaction taxes the prior month, leaving values broadly flat for the year so far, figures from mortgage lender Halifax showed on Friday (Jun 6). Halifax said house prices fell by 0.4 per cent in May after a 0.3 per cent increase in April. A Reuters poll of economists had pointed to a fall of 0.1 per cent for May. House prices were 2.5 per cent higher on the year – less than the 3.0 per cent annual rise forecast in the poll. Halifax said the housing market looked 'broadly stable', with the average level of house prices hovering around £297,000 (S$517,455) since December. 'The market appears to have absorbed the temporary surge in activity over spring, which was driven by the changes to stamp duty,' Amanda Bryden, Halifax's head of mortgages, said. Separate data published last week from the tax office showed residential property transactions rocketed by 62 per cent in March and then collapsed by a record 63 per cent in April, as buyers raced to close deals in March ahead of the stamp duty tax increase. 'The outlook will depend on the pace of cuts to interest rates, as well as the strength of future income growth and broader inflation trends,' Bryden said. Financial markets on Thursday pointed to between one and two quarter-point interest rate cuts between now and the end of the year. A Reuters poll of economists published last month pointed to two such rate cuts. REUTERS
The Herald Scotland
02-06-2025
- Business
- The Herald Scotland
Woman jailed for fraud ordered to repay thousands
At Kilmarnock Sheriff Court on 28 May 2025, the Court made a confiscation order in the sum of £81,589.86 and recorded that the benefit of criminal conduct was £516,268.98. The confiscation order can be revisited if further assets are identified in the future to be paid towards the full amount that was determined as the benefit of the crime. Houston, also known as Bryden, was convicted at Kilmarnock Sheriff Court after she admitted embezzling £253,281.30 while working as an office administrator at Kelburn Construction in Kilmarnock from February 2017 to January 2019. READ MORE: Months later she started embezzling £262,987.68 while working as a bookkeeper for WM Donnelly and Co Ltd in East Kilbride, taking the cash between May 2019, and March 2021. A compensation order in the sum of £41,610.83 was awarded to Wm Donnelly and Co Ltd. A second compensation order in the sum of £39,979.03, was awarded to Kelburn Construction. Sineidin Corrins, Deputy Procurator Fiscal for Serious Casework at the Crown Office and Procurator Fiscal Service (COPFS), said: 'This confiscation underscores the fact that prosecution of those involved in financial crime does not stop at criminal conviction and sentencing. 'Even after that conviction was secured, the Crown pursued Proceeds of Crime action to ensure the funds Stephanni Houston obtained illegally were confiscated. 'Confiscation orders have ongoing financial consequences, meaning we can seek to recover further assets from this individual in the future to reflect the full amount."
Daily Record
02-06-2025
- Daily Record
Greedy Scots mum jailed for swindling £500k from two jobs ordered to pay back cash
Admin assistant Stephanni Houston, also known as Bryden, was ordered to pay back just £80,000 after being locked up for three years. A greedy Scots mum who was jailed for swindling more than half-a-million pounds from two different jobs has been ordered to pay back £80,000. Stephanni Houston, also known as Bryden, was locked up for three years in 2023 after admitting swiping more than £516,000 from two more firms over the course of four years. We revealed how the 41-year-old admin worker, from Ayr, was locked up for 38 months at Kilmarnock Sheriff Court after making a bleating apology in the Record two years earlier for defrauding pensioners out of thousands at an Ayrshire care home. Now prosecutors have been awarded a confiscation order to the sum of £81,589.86 - saying the mum could be pursued for more cash in the future. Sineidin Corrins, Deputy Procurator Fiscal for Serious Casework at the Crown Office and Procurator Fiscal Service (COPFS), said: 'This confiscation underscores the fact that prosecution of those involved in financial crime does not stop at criminal conviction and sentencing. 'Even after that conviction was secured, the Crown pursued Proceeds of Crime action to ensure the funds Stephanni Houston obtained illegally were confiscated. 'Confiscation orders have ongoing financial consequences, meaning we can seek to recover further assets from this individual in the future to reflect the full amount." Houston avoided jail in 2014 when she was ordered to pay back all of the £2425 she defrauded while working as an administrator for Berelands Care Home in Prestwick. She raided cash accounts belonging to a 93-year-old blind woman, a frail 89-year-old woman, and two men aged 83 and 91. Houston admitted fraud at Ayr Sheriff Court and was ordered to do 240 hours of unpaid work as well as repaying the money within a year. The court was told she had forged managers' signatures to take residents' money from the home between April 1 and December 21, 2013. Bosses said they had to compensate residents for their losses while a sheriff described her deceit as 'a serious offence against those who are the most vulnerable'. When the Record approached Bryden she blamed her poor accounting. She told our reporter at the time: 'I feel hellish. I'm so ashamed of the mess I've made. I just want to say how sorry I am to the residents. It was a stupid mistake.' But in November 2023, Houston was sent to prison for betraying two more employers. She admitted embezzling £253,281.30 while working as an office administrator at Kelburne Construction in Kilmarnock from February 1, 2017, to January 29, 2019. Months later she started embezzling £262,987.68 while working as a book-keeper for WM Donnelly and Co in East Kilbride, taking the cash between May 17, 2019, and March 31, 2021. When she was jailed, a source close to the case told the Record: 'It's clearly a greed thing. Her car in the yard at work was better than the boss's car. Everyone was scratching their heads. She was sitting in a top-of-the-range Audi but no one thought for one minute what she was up to. 'When she was done for the nursing home fraud her name was Bryden but when she went to Kelburne her name was Houston. Everyone got on fine with her in the office. She seemed good at her job but no one knew her background. Her past only came to light after she did what she did. 'She got a warning for the incident in the nursing home and got out of going to jail but she's obviously not shown any respect for the authorities or her employers. The day police came into the yard she was the one who showed them to the boss's office. She must have had a few heartbeats when the police car drew up that day.' At Kilmarnock Sheriff Court on Friday, a confiscation order was made to the sum of £81,589.86. The confiscation order can be revisited if further assets are identified in the future to be paid towards the full amount that was determined as the benefit of the crime. A compensation order in the sum of £41,610.83 was awarded to Wm Donnelly and Co Ltd. A second compensation order in the sum of £39,979.03, was awarded to Kelburn Construction. Join the Daily Record WhatsApp community!
