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News Tag: house sales

October 9, 2012

Pick up in UK house sales expected

by Jan Harris
Pick up in UK house sales expected
House sales in the UK are expected to improve in the next three months, helped by the government’s funding for lending scheme, according to the Royal Institution of Chartered Surveyors (RICS). The Funding for Lending scheme, launched by the government and the Bank of England, makes £80bn of lower cost funding available to lenders to encourage them to offer more loans ...




June 22, 2012

Mortgage lending 24% higher in May

by Jan Harris
Mortgage lending 24% higher in May
Mortgage lending increased by 24 per cent to £12.2 billion in May, after a fall in April, according to the Council of Mortgage Lenders (CML). The figure was 13 per cent higher than a year ago. However, when the effect of the end of the stamp duty holiday on first-time buyer properties is excluded, the market is broadly flat, the CML warned. ...




June 14, 2012

80% aspire to own their home

by Jan Harris
80% aspire to own their home
Although house sales have plummeted in the past five years, most people still hope to own their own home in the future. Eight out of 10 people surveyed by the Council of Mortgage Lenders (CML) said they hoped to own their own home by 2022, while three quarters said they hoped to achieve this ambition within two years. Home ownership has moved out ...




June 12, 2012

Mortgage scarcity contributes to fall in house sales

by Jan Harris
Mortgage scarcity contributes to fall in house sales
The Royal Institute of Chartered Surveyors (RICS) has recorded a 40 per cent fall in house sales since 2007, and says that the lack of affordable mortgages has been a key factor in the decline. RICs’ agents have reported around 15 sales per surveyor per month, compared with 25 sales per month in 2007 when the property market was booming. In ...




April 27, 2012

Sales of £1m homes fall 5%

by Jan Harris
Sales of £1m homes falls 5%
The number of houses sold in the £1 million to £2 million price bracket fell by 5% to 6,911 in 2011 according to a report from Lloyds TSB based on figures from the Land Registry. The figures represent the first annual fall in million-pound sales since 2009. In contrast, sales of homes priced above £2 million increased last year to 1,518, the ...




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 ...




January 25, 2012

Property market remained stagnant in 2011

by Jan Harris
Property market remained stagnant in 2011
House sales fell 1 per cent in 2011, with just 869,000 residential properties sold, according to HM Revenue and Customs (HMRC). In January 2011, traditionally the weakest month for property transactions, just 45,000 houses were sold. However, the market did improve at the end of the year, with 76,000 sold in December. The property market has been in a slump for ...




December 1, 2011

Housing Market to improve in 2013

by Jan Harris
Housing Market to improve in 2013
The housing market is expected to improve strongly in 2013-14, with a 20 per cent increase in transactions, the Office for Budget Responsibility (OBR) said yesterday. An upward trend is expected to start developing in 2012-13, when 1.5 per growth is expected, according to the OBR’s forecasts which accompanied the chancellor's Autumn Statement. Recent figures from HM Revenue & Customs show that 5 ...




November 1, 2011

Nationwide: House prices rise 0.4% in October

by Kay Mitchell
”Nationwide:
The latest house price index from the Nationwide Building Society has revealed prices rose by 0.4% in October on a monthly basis. On an annual basis, house prices are now 0.8% higher than this time last year – representing the first yearly rise in six months – with the average UK home costing £165,650. However, when comparing prices in the three months ...




October 31, 2011

Mortgage approvals fall, house sales down

by Kay Mitchell
”Mortgage
The Bank of England has today revealed mortgage approvals fell in September for the first time in six months. According to the Bank, there were 50,967 loans approved in the month – down 3% on August’s figure. However, September’s figure was broadly in line with forecasts and suggests the UK mortgage market will remain subdued for some time to come. Approvals still ...




September 28, 2011

Land Registry reports 0.3% fall in August house prices

by Kay Mitchell
”Land
According to the Land Registry, house prices fell by 0.3% in August after a 1.3% rise in July. The latest fall takes the average cost of a home to £162,347 in England and Wales. On an annual basis, meanwhile, the Registry said prices are 2.6% lower. It must be noted that the Land Registry compiles its data from completed transactions and ...




May 24, 2011

HMRC: House sales fall in April

by Kay Mitchell
”HMRC:
HM Revenue & Customs (HMRC) has today revealed a fall in the number of homes sold in April in the UK. According to HMRC, 66,000 homes worth at least £40,000 or more were sold in the month – 1,000 less than the previous month and 6,000 lower than in April 2010. Today’s figures, along with other recent reports, suggest the housing market ...




March 23, 2011

BBA: Mortgage approvals up 3% in February

by Kay Mitchell
BBA: Mortgage approvals up 3% in February
The British Bankers’ Association (BBA) has today revealed a slight rise in the number of new mortgages approved by the major banks in February. According to the BBA, the number of new mortgages approved in the month stood at 29,923 – marginally better than January’s level of 29,159, albeit lower than economists forecast of 29,350. However, mortgage approvals were down 11% on ...




February 23, 2011

BBA: Mortgage approvals down 29% on year in January

by Kay Mitchell
BBA: Mortgage approvals down 29% on year in January
The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in January. According to the BBA, the number of new mortgages approved in the month stood at 28,932 - marginally better than December’s levels but 29% lower compared with January 2010. The figures suggest mortgage lending will remain ...




January 26, 2011

BBA: Mortgage approvals continue to fall

by Kay Mitchell
BBA: Mortgage approvals continue to fall
The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in December. According to the BBA, the number of new mortgages approved in the month fell to 28,726, down from 29,696 in November - representing the lowest figure since January 2009. Net mortgage lending rose by just £0.88 billion - ...




January 14, 2011

NAEA: Property sales slump in December

by Kay Mitchell
NAEA: Property sales slump in December
The National Association of Estate Agents (NAEA) has today revealed property transactions slumped to an 8-year low in December. The severe wintry weather and the traditional slow Christmas period led to sales falling to their lowest level since January 2003. According to the Association, the average estate agent branch sold four properties in December 2010. This represents the lowest in eight years when ...




December 21, 2010

HMRC: House sales down in November

by Kay Mitchell
HMRC: House sales down in November
HM Revenue & Customs (HMRC) has revealed a slump in the number of homes sold in November in the UK. According to HMRC, 77,000 homes worth at least £40,000 or more were sold in the month - down from the 80,000 sold in October and 6,000 less than in November last year. The figures are further evidence that the housing market continues to ...




October 25, 2010

BBA reports further fall in mortgage lending

by Kay Mitchell
BBA reports further fall in mortgage lending
The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in September. Mortgage lending slumped to its lowest level in a decade in September, while mortgage approvals dived to an 18-month low, said the BBA. Net mortgage lending by the major banks totalled £1.6 billion in September - representing the ...




October 22, 2010

House sales fall in September

by Gill Montia
”House
Latest figures from HM Revenue & Customs show house sales across the UK falling to 78,000 in September, compared with 82,000 in August. Completed transactions on homes worth over £40,000 fell for the second consecutive month, with the total also down slightly on a year earlier, marking the first annual decline recorded by HMRC in 2010. Little good news surrounds the UK housing market; ...




October 20, 2010

September gross mortgage lending slumps to 10-year low

by Kay Mitchell
September gross mortgage lending slumps to 10-year low
The Council of Mortgage Lenders (CML) has today revealed gross mortgage lending totalled £12 billion in September - the lowest September total since the year 2000. According to the CML, gross mortgage lending fell 1% on the month and was 7% lower than in September 2009. The latest figures highlight the ongoing sluggishness of the UK housing market. Brian Murphy of mortgage ...