The Halifax has today revealed UK house prices fell by 0.1% last month compared with October. The latest house price fall takes the average cost of a UK home to £164,708, the Halifax said. According to the lender, which is now part of the Lloyds Banking Group, buyer demand continues to be weak amid economic [...]
The Royal Institution of Chartered Surveyors (Rics) today reported the lack of buyers continue to weaken house prices. In its latest survey, it found that new buyer enquiries declined for the fifth month in a row as the housing market continued to slow amid the uncertain economic climate. Many potential buyers have said they remain [...]
The Halifax has today revealed UK house prices rose by 1.8% last month, following a 3.6% fall in September. The latest house price rise takes the average cost of a UK home to £164,919, the Halifax said. According to the lender, the monthly increase was three times faster than expected and means house prices are [...]
The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% – where they have been since March 2009. Furthermore, the Bank opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced to [...]
The Halifax has today revealed UK house prices fell by a record 3.6% in September compared with August. The latest house price fall takes the average cost of a UK home to £162,096, the Halifax said. According to the lender, the monthly decline was the biggest since records began in 1983. However, it is still [...]
Ilford in Essex is the leading property sales hotspot in England and Wales, with an 85% rise in the number of homes sold in the first half of 2010, compared with the same period of 2009. Research from Halifax has identified Croydon and Maidenhead as the runners up, with sales rising 73% and 71% respectively. [...]
UK house prices rose by 0.2% in August, following on from a 0.6% increase in July, according to Halifax. Much of the decline seen in the three preceding months has now been reversed, leaving the annual rate of inflation at 4.6%, slightly below the 4.9% measured in July. With the typical value of a home [...]
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 [...]
Britain’s homeowners are typically finding their mortgage repayments twice as affordable as when house prices peaked, in 2007. Research from Halifax has revealed that in June, the average monthly mortgage repayment accounted for 28% of disposable income, compared to 50% three years ago. However, first-time buyer numbers fell to 94,600 in the first six months [...]
Residents of Bexhill-on-Sea in East Sussex have the highest quality of life among Britain’s seaside towns, followed by Burnham-on-Crouch in Essex and Christchurch in Dorset. According to the latest Halifax survey of UK coastal towns, all three have higher than average weekly earnings, compared to other seaside towns, and an above average employment rate. With [...]
The total value of privately-owned homes in the UK has more than doubled over the past decade, new research from Halifax shows. The country saw a 118% surge, from £1,719 billion in 1999 to an estimated £3,755 billion in 2009, although the Retail Prices Index measure of inflation rose by only 29% during the same [...]
Halifax has reported that UK house prices increased by 0.6% in July, reversing a fall of 0.6% in June. Prices were 4.9% higher year-on-year, having lost ground on a month earlier when the annual rate of growth registered at 6.3%. At £167,425, the value of the average home stood 8.3% above its April 2009 trough [...]
Financial pundits have praised Halifax’s new Clarity credit card for its simplicity, but warned it may not be the best deal for customers looking to borrow money long term. Moneynet.co.uk welcomed the Clarity’s easy to understand fees, with no complex introductory offer and just one rate of interest for purchases, balance transfers and cash withdrawals. [...]
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% for the 17th consecutive month, as widely expected. Furthermore, the Bank opted not to inject any more funds into the economy via its quantitative easing (QE) scheme – introduced [...]
UK house prices fell by 0.6% in June, following a similar decline in May, Halifax has reported. The average value of a home stood at £166,203, with the annual rate of gain easing back to 6.3%, compared with 6.9% in May. That being said, prices in the April to June quarter were largely unchanged compared [...]
House prices dipped by 0.4% in May, following a 0.1% decline in April, Halifax has reported. However, taking an average of the latest three months, the value of the typical home increased 6.9% on the same period of 2009, reflecting the biggest annual rate of change since October 2007 (8.9%). Prices are therefore 8.3% above [...]
Those with a yearning to live by the sea should head north, according to research from Halifax. The lender has declared Withernsea in the East Riding of Yorkshire the most affordable seaside town in England and Wales, with house prices typically three times local annual gross average earnings. All ten most affordable seaside towns are [...]
Halifax has reported that UK house prices increased by an annual 6.6% in April. However, a month-on-month fall of 0.1%, took the value of the typical home down to £168,202, or £13,539 above its April 2009 trough. Commenting on the figures, the lender’s housing economist, Martin Ellis, says: “The underlying rate of house price growth [...]
Mortgage customers with two of the UK’s rescued banks are less than happy with the service they receive, according to new research from Which? Money. The 41% state-owned Lloyds Banking Group has the furthest to go: only 41% of Bank of Scotland borrowers surveyed expressed satisfaction, while the group’s Halifax unit impressed 44% of home [...]
The Office for National Statistics (ONS) today revealed UK industrial output recovered in February after the slump experienced in January. According to the ONS, output grew by 1.3% in February after the 1% fall in January – boosted by an increase in production of food and drink, electrical and optical equipment as well as bricks [...]
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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