Latest figures from the Land Registry show house prices in England and Wales falling by 1.1% in March, marking the largest monthly decline seen since February 2009. The only region to experience a monthly rise was the North West, with an upward movement of 0.7%, while in Wales house prices tumbled by 3.3%, compared with [...]
The average price of a detached family home has risen by more than any other property type over the past year. According to new research from Halifax, owners of detached properties saw the value of their homes increase by £91 a day over the year to the end of June, with a 13% leap taking [...]
UK house prices fell back in July, for the first time since February, as buyer demand remained weak. According to Nationwide, the average value of a home declined by 0.5%, to £169,347, taking the annual rate of inflation down to 6.6%, compared with 8.7% in June. The lender notes that the sizeable drop is due [...]
UK house prices fell by 1.5% in February when compared to January, according to Halifax. The lender’s monthly index registered its first decline since June 2009, following seven consecutive monthly increases. However, at £166,587, the average price of a UK home came in 8% above the market trough of April 2009, and up 4.5% on [...]
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 [...]
Potential first-time buyers on average earnings can now afford to buy a home in nearly four out of 10 regions of the UK, the Halifax has reported. According to the lender’s research, 39% of the UK’s local authority districts are accessible to those wanting to buy their first property, compared to 6% when the housing [...]
In a trading update covering 1st July to 16th November 2009, Persimmon has announced that trading activity levels have continued ahead of last year. The group, which includes Charles Church and Westbury, described sales volumes over recent weeks as “satisfactory”, having been maintained from the “encouraging” levels seen in the summer months. In addition, prices [...]
In presenting its interim results Bovis Homes has reported signs of house price stabilisation, during the second quarter of 2009. However, the housebuilder describes the UK market as remaining “fragile” with “mortgage valuations continuing to place downward pressure on negotiated prices”. The company completed 754 homes during the first six months of the year, compared [...]
Property developer Barratt Homes has followed rival Redrow in reporting a substantial loss for 2008. The company blames falling property prices, a shortage of mortgage funding and writedowns on the value of its land bank for a pre-tax loss of £592.4 million, compared with a profit of £192.4 million in 2007. The group’s average selling [...]
Taylor Wimpey is the latest housebuilder to reveal the full extent of the downturn in the UK property market. The company has revealed that its order book for the first 44 weeks of 2008 fell by around 40%, to 6,607. The figure compares with 11,074 over the same period of 2007. During the six months [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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