Latest Property News
The latest property news, covering house prices, affordability, HIPs and other residential property news:
February 24, 2010
Chairman of the Federal Reserve Ben Bernanke has today said US interest rates will need to stay low in order to keep the economic recovery on track.
In a testimony before Congress, Bernanke said there was a "nascent economic recovery" and said long-term recovery will depend on private sector’s demand for goods and services.
Bernanke, who was recently awarded ...
Federal Reserve chairman pledges low interest rates for long-term
by Kay Murchie
February 19, 2010
The Office of Fair Trading (OFT) is recommending a "shake-up" of the way in which most Britons sell their homes, including new legislation that encourages innovation in the estate agency market.
Following a study of the home-buying and selling process, the watchdog concludes: "The housing market remains dominated by traditional estate agents with weak competition between them on price".
It wants to ...
Watchdog recommends “shake-up” of estate agency market
by Gill Montia
February 17, 2010
The Commerce Department has today revealed US housing starts increased for the month of January but building permits were down.
According to the Commerce Department, construction of new US homes rose 2.8% during the month to a seasonally adjusted annual rate of 591,000 properties.
While this represented the highest level in six months, the figures are still far below the ...
US housing starts and industrial production rise
by Kay Murchie
Official figures show 2.9% house price gain for 2009
by Gill Montia
February 16, 2010
In its latest Scottish House Price Monitor, Lloyds TSB tracks the continued recovery of the region's housing market.
Most areas of Scotland were showing price increases over the three months to the end of January 2010, with the average cost of a home up 5.9% on the previous quarter, to £160,074.
Dundee and Edinburgh led the way with quarterly rises of 16.3% and ...
Scottish house prices continue recovery
by Gill Montia
Average asking price of a UK home up 3.2%
by Gill Montia
February 15, 2010
House builder, Redrow, has launched a new range of homes inspired by the Arts and Crafts movement of the early 1900s, which focused on simplicity and good, functional design.
The group's chairman, Steve Morgan, is also calling on planning authorities to actively encourage the building of traditional family homes, rather than residences that are "more at home in Stalingrad".
Mr Morgan ...
Redrow turns its back on “Stalingrad” homes
by Gill Montia
February 9, 2010
Enquiries from new home buyers dipped in January, for the first time in 14 months.
According to the Royal Institution of Chartered Surveyors (RICS), the winter freeze may have been responsible for the downturn with house sellers also affected and the number of homes being put up for sale falling for the first time in seven months.
Last ...
Spring bounce in housing market likely to be short lived
by Gill Montia
February 7, 2010
Property owners in danger of losing their homes as a result of consumer debt could soon be better protected.
The Ministry of Justice has launched a consultation on proposed new measures that would set a minimum level of such debt before a court can order the sale of a home.
Under the current system, a property owner who cannot pay ...
Protection for homeowners unable to pay credit card debt
by Gill Montia
February 4, 2010
Halifax has announced a 0.6% rise in UK house prices in January, compared to a month earlier.
The seventh successive monthly increase was more modest than the 1.1% average for the previous six months but nonetheless takes the price of a typical home to £169,777, or 3.6% more than at the start of 2009.
The annual rate of change (which is ...
House prices up 3.6% on January 2009
by Gill Montia
February 2, 2010
Hometrack has declared that the housing market in England and Wales has seen a "sluggish" start to the year, after an unexpectedly strong end to 2009.
In its January survey, the housing intelligence firm detected a 0.1% rise in the price of the average home, compared with December; however, the year-on-year rate of grow stood at a disappointing minus 0.1%.
Both the number of ...
Hometrack: house prices down year-on-year
by Gill Montia
House prices up 20% by 2013 CEBR predicts
by Gill Montia
January 29, 2010
In the first of the 2010 house price surveys, Nationwide has announced that the average price of a home rose by 1.2% in January, compared with a month earlier.
The ninth consecutive monthly increase puts the average value of a UK home at £163,481, showing a year-on-year gain of 8.6% (up from 5.9% in December 2009).
Furthermore, the building society's chief economist, Martin Gahbauer, ...
House prices up 8.6% year-on-year
by Gill Montia
January 27, 2010
The Commerce Department has today revealed a fall in sales of new homes in the US for the month of December - the second consecutive month that sales have fallen.
According to the Commerce Department, new single-family home sales dived by 7.6% to a seasonally adjusted annual rate of 342,000 units, down from a revised 370,000 in the previous month.
Meanwhile, a ...
US new home sales in steep fall
by Kay Murchie
January 26, 2010
The US economy experienced two sets of positive economic data today. Firstly, the Standard & Poor’s/Case-Shiller composite index of 20 metropolitan areas rose for the sixth consecutive month in November.
According to the index, house prices were 0.2% higher compared with the October.
Meanwhile, on an annual basis, the 20-city index was 5.3% down compared with November 2008.
David Blitzer, chairman of ...
US house prices rise, consumer confidence up
by Kay Murchie
January 25, 2010
The National Association of Realtors (NAR) has today revealed a sharp fall in sales of previously owned homes in the US for the month of December.
The industry body said sales fell 16.7% to an annual rate of 5.45 million units in December, down from 6.54 million the previous month. Analysts had expected a rate of 5.90 million units.
However, ...
US home sales in sharp decline in December
by Kay Murchie
Half-a-million affordable homes at risk
by Gill Montia
January 21, 2010
The Commerce Department has revealed a fall in housing starts for the month of December but building permits rose.
According to the Commerce Department, construction of new US homes fell 4% during the month to a seasonally adjusted annual rate of 557,000 properties. The fall was primarily due to bad weather which hit most of the country.
Meanwhile, applications for ...
US housing starts fall, producer prices up
by Kay Murchie
January 20, 2010
Halifax has been looking back over the past 50 years to find that the average cost of a UK home has increased by 237% (in real terms) since 1959.
The typical yearly rate of return of 2.7% exceeded the average rise in real earnings over the period, although house prices recorded their biggest increase in the 2000s when they put ...
House prices rise 237% (over half a century)
by Gill Montia
Seller confidence and buyer interest return
by Gill Montia
