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News Tag: house prices

October 26, 2012

Commission calls for radical change in housing market

by Jan Harris
Future Homes Commission calls for radical change in housing market
A new study by the Future Homes Commission suggests that the way homes are built in the UK is dysfunctional and needs a radical overhaul. The organisation, which was established by the Royal Institute of British Architects, believes that 300,000 extra homes could be built every year without any input from Government funding. Instead, the investment could come from ...




July 2, 2012

House prices stall and could fall

by Jan Harris
House prices stall and could fall
House price growth stalled in June according to new figures from property analyst Hometrack. New buyer registrations were 0.5 per cent lower in June, the first time they have fallen on a month-on-month basis, for the past five months. Supply continued to increase, causing prices to fall even further. The only place which saw an increase in house prices last month ...




June 28, 2012

Mortgage approvals and lending fall

by Jan Harris
Mortgage approvals and lending fall
Borrowers were more cautious in May according to figures from the British Bankers Association (BBA) which showed an increased focus on reducing debt. Mortgage repayments were higher than lending for the first time, according to the BBA’s figures. Net mortgage lending fell by £73 million in May, the first time it has gone into reverse since the BBA began keeping records ...




June 7, 2012

House prices unlikely to rise says Halifax

by Jan Harris
House prices unlikely to rise says Halifax
The Halifax expects house prices to be the same at the end of the year as they were at the beginning, with uncertain economic conditions stifling demand. The bank, which is part of the Lloyds Banking Group, reported a 0.1 per cent fall in house prices in May 2012, compared with May 2011. However, compared with the previous month, house prices increased ...




May 29, 2012

House prices fell in April

by Jan Harris
House prices fell in April
Land Registry figures confirm that house prices fell last month, after surveys by the Halifax, Nationwide and the Royal Institution of Chartered Surveyors all reported a decline. The Land Registry said that the price of houses in England and Wales fell by 0.3% in April, with the average house price falling to £160,417. The decline follows the end of the stamp duty ...




May 21, 2012

Rightmove reports property downsizing trend

by Jan Harris
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 UK. London, where there is a greater proportion ...




May 14, 2012

Price of seaside houses doubles

by Jan Harris
Price of seaside houses doubles
Homes by the sea have shown a greater price increase than inland properties, according to the latest figures from the Halifax. The price of houses in seaside towns has increased by 97 per cent over the last decade, compared with a 95 per cent increase for the whole of England and Wales. In Seaham, County Durham, the average property price increased ...




May 1, 2012

Average house price dipped in March

by Jan Harris
Average house price dipped in March
The average price of a house in England and Wales fell by 0.6 per cent to £160,372 in March according to new Land Registry figures. However, there were wide regional variations with prices falling by 1.8 per cent in London and 4.1 per cent in Wales, but increasing by 5.6 per cent in the North East. This contrasts with figures for the full ...




April 27, 2012

Mortgage approvals fell unexpectedly in March

by Jan Harris
Mortgage approvals fell unexpectedly in March
Economists had expected mortgage approvals to increase to 34,000 in March but instead the latest figures from the British Bankers Association show they actually fell, to 31,888. This was significantly lower than 32,840 in February and the 25-month high in January, when 38,233 mortgages were approved. The slump in March represents an 11-month low and suggests an underlying weakness in the housing ...




April 2, 2012

Hometrack reports increase in house prices

by Jan Harris
Hometrack reports increase in house prices
House prices increased by 0.2 per cent across the UK in March, according to property analytics business Hometrack, representing the first price rise in 20 months. The increase was helped by increased demand from first time buyers, a scarcity of homes on the market and strong interest in properties in London from overseas buyers. First time buyers boosted the figures prior to ...




March 29, 2012

House prices and mortgage approvals fall

by Jan Harris
House prices and mortgage approvals fall
House prices have fallen for the first time in six months, with the decline attributed to changes in stamp duty. The average house price in March was £163,327, 0.9 per cent lower than in March 2011. It was the largest fall in house prices since June last year. Nationwide’s figures showed a fall in nearly every region of the UK, compared ...




March 23, 2012

Land Registry reports fall in multi-million home sales

by Jan Harris
Land Registry reports fall in multi-million home sales
The number of £2m-plus homes sold in England and Wales fell to 103 in December 2011, 18 per cent lower than the figure for December 2010. Eighty of the £2m-plus properties sold during the month were located in London, where prices have been rising faster than in other parts of the UK. The most popular price bracket in December ...




March 13, 2012

UK property market improves

by Jan Harris
UK property market improves
Signs are emerging that the UK property market is slowly starting to improve. According to the latest figures from The Royal Institution of Chartered Surveyors (RICS), the number of house sales increased in January, helped by first-time buyers rushing to secure a purchase before the end of the stamp duty exemption on homes under £250,000. RICs reported that average sales per estate agent branch ...




March 7, 2012

House prices down 1.1% in February

by Jan Harris
House prices down 1.1% in February
House prices fell 1.1 per cent in February according to The Halifax, contradicting earlier figures from Nationwide suggesting that property prices have increased. According to the Halifax’s three monthly index, house prices were 1.1 per cent lower in February than in the previous three months. The mortgage lender’s annual index showed that property prices fell by 1.9 per cent compared with the ...




February 28, 2012

House prices soar near Olympics venue

by Jan Harris
House prices soar near Olympics venue
The average value of houses in the 13 postal districts closest to Olympic park in Stratford, east London, has increased by more than £62,739 to £268,884 since July 2005, when the capital was awarded the right to host the 2012 Olympics. A study by Lloyds TSB shows that house prices have risen by 30%, which is equivalent to a monthly ...




House prices stable amid strong buyer interest

by Jan Harris
House prices stable amid strong buyer interest
House prices remained steady in January and February according to property analysis firm Hometrack, but there was a surge for interest from potential buyers. The firm’s Monthly National Housing Survey found that property values fell across six regions, remained the same in three, and grew by just 0.1 per cent in London, in the first two months of the year. ...




February 20, 2012

Mortgage lending 12% lower in January

by Jan Harris
Mortgage lending 12% lower in January
Gross mortgage lending fell to £10.5bn in January, 12 per cent lower than the total for December. However the figures represent a year-on-year increase of 10 per cent, the Council of Mortgage Lenders (CML) said. January was the sixth consecutive month of higher lending compared with the previous year. Home loan approvals also increased in January, by 30 per ...




February 17, 2012

Rents continued to rise in January

by Jan Harris
Rents continued to rise in January
The average rent increased by 0.1% from December to January, a traditionally quiet period for the rental market. It was the first January increase in rents ever recorded by LSL Property Services, which said that tenants were trying to take advantage of the quiet period. With many potential first-time buyers unable to afford to buy a property, demand for rented accommodation ...




January 30, 2012

House prices fell 1.3% last year

by Jan Harris
House prices fell 1.3% last year
The latest figures from the Land Registry show that house prices fell by 1.3 per cent in England and Wales in 2011, with the average property costing £160,384 in December. Prices remained stable at the end of the year, with no change between November and December 2011. The only place in England and Wales where house prices increased in December was ...




January 26, 2012

N&P launches 3.99pc fixed-rate mortgage

by Jan Harris
N&P launches 3.99pc fixed-rate mortgage
Norwich & Peterborough Building Society (N&P) has launched a low rate, low fee mortgage to attract buyers who plan to stay in their property for a longer period of time. The ten-year fixed rate mortgage offers an interest rate of just 3.99 per cent APR, making it one of the cheapest deals on the market. It is available to borrowers with 75 ...