The Halifax has today revealed UK house prices rose by 1.2% in June on a monthly basis. The rise represented the biggest month-on-month gain since October and takes the average cost of a UK home to £163,049, the Halifax said. However, on an annual basis, prices are 3.5% lower. When comparing prices in the three [...]
Persimmon, which is the UK’s largest housebuilder by market value, has today said it is encouraged by improved sales and a “modest improvement” in lending. It said it expects to market to pick up over the latter half of 2011 and expects prices to rise over the year. The company said it completed 4,439 homes [...]
According to figures from the Bank of England, Britons increased their financial stake in their homes by £5.8 billion in the first quarter of 2011 – the smallest injection in a year. The figure was much lower than the £7.1 billion in the October to December period in 2010 – which represented the highest since [...]
The latest house price index from the Nationwide Building Society has revealed house prices remained unchanged in June after a 0.3% rise in May – in line with expectations. On an annual basis, house prices are now 1.1% lower than this time last year with the average UK home costing £167,208. The housing market remains [...]
According to housing intelligence group, Hometrack, house prices in England and Wales have fallen at their fastest annual pace since October 2009. According to Hometrack, house prices fell by 0.1% in June and are 3.9% lower on the year. House prices have now fallen for 11 consecutive months, according to the group. Hometrack attributes the [...]
The Commerce Department has today revealed sales of new homes in the US fell, suggesting the housing market remains depressed. According to the Commerce Department, new single-family home sales fell by 2.1% in May on a monthly basis to an annual rate of 319,000 units, after two consecutive months of gains. However, despite the fall, [...]
According to research from property website Zoopla, around 80% of properties acquired since 2006 are now worth less than their purchase price. However, 89% of homes bought since the housing market peaked in 2007 are also worth less than homeowners paid for them with the problem particularly bad in the North East. In the North [...]
The US housing market remains depressed after figures today revealed sales of previously owned homes plunged 15% on an annual basis last month, according to the National Association of Realtors (NAR). The industry body also said sales were down 3.8% on the previous month to a seasonally adjusted annual rate of 4.81 million units – [...]
HM Revenue & Customs (HMRC) has today revealed a further fall in the number of homes sold in May in the UK. According to HMRC, 68,000 homes worth at least £40,000 or more were sold in the month – 2,000 lower than the revised total of April and 3,000 lower when compared with May 2010. [...]
Official figures today revealed China house prices slowed in May, suggesting the Government’s attempts to cool house prices is taking effect. The Government has launched several initiatives to avoid a property bubble. It recently announced plans to introduce a property tax, while making it more expensive to buy second homes, by lifting the minimum down [...]
The Council of Mortgage Lenders (CML) today reported a rise in mortgage lending for the month of May. According to the Council, mortgage lending rose 12% in May compared with April as demand was boosted by the public bank holidays. Gross mortgage lending in the month totalled £11.3 billion, said the CML. The figure was [...]
Property website, Rightmove, has today reported a rise in asking prices for the month of June – the sixth consecutive month of growth. According to Rightmove, asking prices for residential property in England and Wales grew 0.6% in June after a 1.3% increase in May. The property website, which claims to advertise 90% of the [...]
A survey by LSL Property Services has revealed rents in England and Wales continue to rise, with the average rent hitting almost £700 last month. May represented the fourth consecutive month that the average rental cost rose. According to LSL, the average rent stands at £696 – 4.4% higher than this time last year. However, [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the traditional spring selling season has been hit by a lack of mortgage finance and economic uncertainty. This time of year is traditionally busy for the housing market but securing a mortgage remains difficult for many potential buyers – particularly first-time buyers. Furthermore, the [...]
Newcastle-based housebuilder Bellway has today said an uplift in consumer confidence has led to a rise in sales. The housebuilder, which is the fifth largest by market value, said it had experienced a sales rate of 111 units per week in the four months to the end of May – 9% higher than the same [...]
The Halifax has today revealed UK house prices rose by just 0.1% in May compared with April. The latest house price rise takes the average cost of a UK home to £160,519, the Halifax said. Meanwhile, on an annual basis, prices are 4.2% lower – the biggest annual fall since October 2009, said the lender. [...]
The Standard & Poor’s/Case-Shiller composite index of 20 metropolitan areas fell in March – the ninth consecutive monthly decline. According to the closely watched report, house prices were 0.2% lower in March on a monthly basis – albeit in line with forecasts. The index fell to 138.16, dipping below the 139.26 seen in April 2009 [...]
According to the Land Registry, house prices rose by 0.8% in April compared with March, putting the average cost of a home at £163,083 in England and Wales. Last month’s rise represented the first since January. On an annual basis, the Registry said prices are 1.3% lower. It must be noted that the Land Registry [...]
A survey by the Halifax has revealed many first-time buyers fear they will not be able to get on the property ladder. The survey of 4,000 non-homeowners found two-thirds believe home ownership is unattainable. Stricter lending criteria, which has resulted in lenders demanding large deposits, is deterring many would-be homebuyers, according to the survey. Almost [...]
According to housing intelligence group, Hometrack, house prices in England and Wales fell at their fastest annual pace since October 2009 last month. According to Hometrack, house prices fell by 0.1% on the month and are 3.7% lower on the year. House prices have now fallen for 10 consecutive months, according to the group. Hometrack [...]
UK unemployment up to 2.51 million
The Office for National Statistics (ONS) has today revealed UK unemployment rose sharply in the three months to July – the biggest rise in almost two years. The ONS said unemployment rose by 80,000 in the three month period to 2.51 million – far higher than the 70,000 expected by economists. The latest figures take [...]
John Lewis reports challenging trading environment
The John Lewis Partnership, which is regarded as a barometer of British retailing, has reported a marginal increase in sales and said trading conditions are “extremely challenging”. The renowned employee-owned chain, which owns the Waitrose supermarket chain, said sales rose 1% on a like-for-like basis in the six month period to 30 July. However, across [...]
European equities markets were higher Tuesday as banks came back from big declines on Monday, helped by a statement from Societe Generale’s (Euronext: GLE) CEO that his bank is healthy. The FTSE 100 was up 0.87 percent to 5,174.25 in London, while the FTSE 250 added 0.27 percent to 10,011, with banks the best performers [...]
Rics: Housing market remains in the doldrums
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in August with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]
CML: Mortgage lending edges higher in July
The Council of Mortgage Lenders (CML) has reported the number of loans for house purchase rose in July. According to the Council, there were 48,400 loans advanced for house purchase in the month – up by 1,000 from June’s figure but almost 7,000 lower when compared with July 2010. Commenting on today’s figures, Paul Smee, [...]
UK inflation edges higher in August
The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.5% last month from July’s rate of 4.4%. However, the figure was in line with analysts’ expectations. Higher inflation continues to be led by rising food costs but the main reason behind last month’s rise was a 5.1% [...]
Fresnillo down on silver prices
European equities markets were lower Monday on the possibility that Greece could default soon and on speculation that Moody’s Investors Service could cut its rating on several big banks with holdings tied to Greece. The FTSE 100 was down 1.63 percent to 5,129.62 in London, while the FTSE 250 dropped 1.65 percent to 9,983.75 as [...]
IFS warns of tough times for UK households
A report by the Institute for Fiscal Studies (IFS) has warned that households will be squeezed for the next decade as they suffer from the harsh spending cuts introduced by the Government. It said households are suffering one of the worst attacks on their finances since the Second World War and that the impact of [...]
ICB final report recommends ring-fencing
The Independent Commission on Banking’s (ICB) final report has been published today and is recommending that UK banks should ring-fence their retail banking operations. According to the report, ring-fencing would protect banks from riskier investment banking divisions and would “make it easier and less costly to resolve banks that get into trouble”. The ICB, which [...]
Tullow Oil leads 100 in London
European equities markets were significantly lower Friday on an increased possibility that Greece could default on its debt as soon as this weekend, raising the concern level over the European region’s debt problems and ratcheting up worries that the economic recovery is faltering. Additionally, markets reacted to the resignation of European Central Bank board member [...]
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