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 [...]
Lenders are shunning the remortgage market, and the situation is unlikely to change until 2011, according to housing intelligence outfit, Hometrack. The firm’s strategy, risk and economics director, Gary Styles, explains that lenders have been focusing their attention on house purchase lending, in some cases because they have government targets to hit. In addition, remortgaging [...]
Hometack expects the housing market in England and Wales to feel the effects of rising unemployment in the months ahead. The housing intelligence firm is predicting a 1% fall in the average cost of a home in 2010, despite a rise of 0.1% in December, which followed on from a 0.2% increase in November. However, [...]
House prices in England and Wales increased 0.2% in November, according to Hometrack. The fourth consecutive monthly rise eased the annual decline to 2.9%, compared with 4.2% in October. The research also revealed that price rises had a strong regional bias, with London and the South East reporting growth in 79% and 57% of post [...]
According to the Halifax, house prices rose 1.2% in October which is the fourth consecutive month that prices have gained. The lender said house prices are 4.7% lower when compared with October last year and the average price of a house is now £165,528. In comparison, last week, the Nationwide said house prices were up [...]
Hometrack has reported that house prices in England remained level in June, as in May, easing the annual rate of decline in values to 8.7%. The housing intelligence firm suggests that a scarcity of homes for sale is propping up prices, with southern England experiencing the strongest market. According to the research, the past six [...]
A scarcity of housing is propping up house prices in England and Wales, with growth in demand strongest in southern England. So says housing intelligence firm, Hometrack, as it reports that prices remained stable in June, for the second consecutive month. The market is now showing an annual decline of 8.7%, having eased from 9.6% [...]
Housing intelligence firm, Hometrack, has reported that house prices in England and Wales stabilised in May, following a 20 month period of decline. The result follows a 0.3% fall in April and leaves the average cost of a home at £155,600, down 9.6% on a year ago. Last month only 13% of postcode districts recorded [...]
Hometrack has reported that house prices in England and Wales fell by 0.3% in April. The monthly decline was at its slowest for a year and half that recorded by the housing intelligence firm in March. Figures for this month bring the annual loss to 10.1% and the price of the average home in England [...]
Hometrack is the latest monitor of the UK property market to present an analysis: the housing intelligence firm’s March survey shows house prices continuing to fall, although sales volumes rose by 19% on a month earlier. In addition, the number of potential buyers registering with estate agents increased for the second month in a row, [...]
Housing intelligence firm, Hometrack, has reported a 1% fall in UK property prices during January. The sixteenth consecutive month of decline takes the annual drop to 9.4%. The company expects values to fall a further 10% during 2009, with the decline continuing in 2010 but slowing to 3% over the year. According to the survey, [...]
Hometrack is predicting that UK house prices will fall by a further 10% during 2009, with the decline continuing in 2010 but slowing to three per cent over the year. The property intelligence website estimates that the average cost of a home has fallen by a modest 9% this year, compared with Nationwide at minus [...]
Hometrack has reported that home sellers are accepting offers almost 10% below asking prices, to secure a sale. According to the housing intelligence firm, sellers achieved an average 90.7% of their asking prices in August, down from 90.9% in July. The figure is at its lowest since Hometrack began recording the proportion of asking price [...]
Hometrack has reported that house prices fell 1.2% in July, declining for the tenth consecutive month. According to the property intelligence firm, the price of the average home now stands at £168,500 or £2,000 less than one month ago. This marks an annual decline of 4.4% that has taken £7,800 off the average house price. [...]
Research carried out for housing intelligence firm, Hometrack, illustrates the dire affordability issue still faced by potential first-time buyers, despite falling house prices. The study, which was carried out by Professor Steve Wilcox from the University of York, shows that 28% of UK workers cannot afford to buy even the cheapest property available in their [...]
Hometrack’s latest survey shows a further slide in house prices. The housing intelligence firm recorded a 0.5% fall in May, leaving the average property worth 1.9% less than in May 2007 at £172,200. Prices fell by 0.6% in April, making May the eighth consecutive month in which values have declined. On an annual basis, property [...]
Latest figures from Hometrack, the housing intelligence firm, show a 0.9% drop in annual house price inflation in April. A month earlier, prices registered an annual gain of 0.4%; a year earlier, an annual rise of nearly 7%. Values fell across half the UK, whereas in March only 29% of postcode districts registered a fall. [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
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