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News Tag: housing market

November 13, 2012

RICS reports housing market rebound in October

by Jan Harris
RICS reports housing market rebound in October
Interest from potential home owners revived in October according to the latest figures from the Royal Institution of Chartered Surveyors (RICS). Eighteen per cent more firms reported an increase in interest from new buyers than those who reported a decline in enquiries. This is significantly higher than the 5 per cent of firms who reported an increase in September. RICS said that ...




September 21, 2012

Shelter calls for greater security for tenants

by Jan Harris
Shelter calls for greater security for tenants
Housing charity Shelter is calling for landlords to offer Stable Rent Contracts, which would give families the confidence to turn a rented property into a home. Stable Rent Contracts, which would offer five-year tenancies, would also give landlords the security of a steady income, the charity said. Rents would increase in line with inflation each year, under the new contracts. With ...




August 29, 2012

Couples unable to afford family homes

by Jan Harris
Couples unable to afford family homes
The state of the housing market is causing many couples to put off having children according to housing charity Shelter. A YouGov survey commissioned by the charity found that 20 per cent of childless couples between the ages of 31 and 44 are putting off starting a family because of high housing costs. Many couples are unable to afford to move ...




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 ...




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 10, 2012

Home repossessions stop rising

by Jan Harris
Home repossessions stop rising
The first quarter of 2012 saw 9,600 homes repossessed, the same as in the first quarter of 2011, breaking a run of year-on-year increases. According to the latest figures from the Council of Mortgage Lenders (CML), repossessions were 10 per cent higher than in the fourth quarter of 2011, when 8,700 homes were repossessed. However this is in line with the usual seasonal fall ...




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 ...




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 ...




April 16, 2012

Asking prices reach all time high

by Jan Harris
Asking prices reach all time high
The asking price for property in the UK has reached record high levels, boosted by a surge in prices in London, according to property site Rightmove. The average asking price for property in England and Wales increased by 2.9 per cent in April to £243,737 Asking prices in London increased by 2.1 per cent to £464,944 during the month, while prices in ...




Mortgage lending 4% higher in February

by Jan Harris
Mortgage lending 4% higher in February
Mortgage lending increased by 4 per cent in February, compared with the previous month, according to the latest figures from the Council of Mortgage Lenders (CML). The number of loans made for house purchase increased to 36,600, representing a year-on-year rise of 17 per cent. There was also growth in the number of first-time buyer mortgages, with 14,100 loans made to this ...




March 20, 2012

Property prices up 5% in March

by Jan Harris
Property prices up 5% in March
UK house prices increased by £3,687 to £236,939 in March, a 4.9 per cent increase compared with the 2011 first quarter. The figures, from Rightmove’s house price index, represent the largest first-quarter rise in property prices since 2004, boosting hopes for an continued improvement in the market for the rest of the year. In London, where interest from overseas buyers has ...




January 24, 2012

Mortgage lending 12 per cent higher in December

by Jan Harris
Mortgage lending 12 per cent higher in December
December marked the fifth consecutive month of year-on-year growth in mortgage lending, with a 12 per increase, according to the Council for Mortgage Lenders (CML). Gross mortgage lending in December was an estimated £11.7 billion, while for the whole year it totalled £140 billion, £2 billion higher than the CML's expectations. December’s figures represent a 12% drop from ...




December 13, 2011

Economic gloom holding back the housing market

by Jan Harris
Economic gloom holding back the housing market
Although the demand for property increased in November, the ongoing economic downturn is holding back housing activity according to the latest report from the Royal Institution of Chartered Surveyors (Rics) Rics’ UK Housing Market survey for the three months to the end of November showed a small improvement in both demand from buyers and property sales during the month. Seven ...




December 6, 2011

Halifax expects housing market to hold steady

by Jan Harris
Halifax expects housing market to hold steady
The Halifax reported a 0.9 per cent fall in house prices in November, compared with the previous month, and it expects the housing market to remain steady over the winter. November’s fall in house prices came despite a 3 per cent increase in the number of mortgages approved during the month to 52,700, according to the Bank of England’s figures. Data ...




November 11, 2011

CBI says pensions should fund house buying

by Jan Harris
CBI says pensions should fund house buying
The CBI is calling for a radical rethink in the way house purchases are funded including allowing buyers to dip into their pension pot for the deposit on their first home. The number of first-time buyers fell from a high of 167,400 in 2001 to 36,200 in 2011 with unaffordable deposits and financial insecurity making it impossible for many people ...




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 11, 2011

CML: Mortgage lending increases in August

by Kay Mitchell
”CML:
The Council of Mortgage Lenders (CML) has today reported the number of loans for house purchase rose in August. According to the Council, there were 52,000 loans advanced for house purchase (worth £7.9 billion) in the month – up from 48,700 (£7.2 billion) in July. The Council described today’s figures as "welcome signs of life" as the mortgage market has been struggling since ...




DCLG: House prices rise 0.6% in August

by Kay Mitchell
”DCLG:
Official data from the Department for Communities and Local Government (DCLG) today revealed UK house prices rose by 0.6% in August compared with July. However, on an annual basis, house prices are 1.3% lower, taking the average UK house price to £208,476. The data from the DCLG is based on mortgage completions figures collected by the Council of Mortgage Lenders (CML). In comparison, ...




October 7, 2011

US unemployment rate holds steady at 9.1%

by Kay Mitchell
”US
According to the Labor Department, the world’s largest economy added 137,000 new jobs last month, as the public sector cut 34,000 jobs. According to the Labor Department, the private-sector numbers benefited from the return of around 45,000 Verizon workers who had fallen off payrolls in August due to a strike. Excluding those workers, payrolls increased by 58,000. The latest figure means the unemployment ...