Tag: housing

Planning Minister calls for house building on open land

Planning Minister calls for house building on open land

Housing Minister Nick Boles suggested on the BBC’s Newsnight programme that more housing should be built on open land. Increasing the amount of developed land by a third to 12 per cent would “solve the housing problem” Mr Boles said. He said that in exchange for building on open land, greenbelt spaces would be defended. […]

November 28, 2012 More
Housing second child costs £60,000

Housing second child costs £60,000

While most families think that their first baby will require more financial outlay than subsequent children, new research suggests that the second child may be more expensive because the family may have to move to a larger house. Families with a second baby on the way are paying an average of £60,000 to move to […]

November 11, 2011 More
BoE reveals housing equity injection slows

BoE reveals housing equity injection slows

According to figures from the Bank of England, Britons increased their financial stake in their homes by £5.8 billion in the first quarter of 2011 – the smallest injection in a year. The figure was much lower than the £7.1 billion in the October to December period in 2010 – which represented the highest since […]

July 4, 2011 More
Hometrack: Housing demand remains weak

Hometrack: Housing demand remains weak

According to housing intelligence group, Hometrack, house prices in England and Wales fell at their fastest annual pace since October 2009 last month. According to Hometrack, house prices fell by 0.1% on the month and are 3.7% lower on the year. House prices have now fallen for 10 consecutive months, according to the group. Hometrack […]

May 30, 2011 More
PM refuses to stand down on housing benefit cuts

PM refuses to stand down on housing benefit cuts

Prime Minister David Cameron has stood firm over his Government’s plan to cut housing benefits. The opposition claimed the policy was a “complete shambles” but the PM defended the moves and said: “These are difficult changes but I think it is right.” The proposals include ending the “council housing for life”, which means tenants in […]

October 28, 2010 More
Obama approves housing aid for five US states

Obama approves housing aid for five US states

Approval has been given by the Obama administration to help areas affected by the housing bust, as part of a $1.5 billion programme. According to Treasury sources, plans for Arizona, California, Florida, Michigan and Nevada have received approval. Under the scheme, more than 90,000 homeowners are set to benefit broken down as follows:- California will […]

June 23, 2010 More
US consumer prices see first drop in 13 months

US consumer prices see first drop in 13 months

Official data has today revealed that US consumer prices fell in April by 0.1% on a monthly basis – the first decline in 13 months. The fall was attributed to declines in petrol, housing, car and clothing prices according to the Labor Department. Petrol prices fell by 2.4%, clothing costs fell 0.7%, while food costs […]

May 19, 2010 More
Homeowners to be replaced by tenants

Homeowners to be replaced by tenants

Reporting on its recent “Future Housing” conference the Council of Mortgage Lenders (CML) says it expects the UK to see a smaller proportion of homeowners and a higher proportion of tenants, mostly in the private sector, in the years ahead. Changing consumer preferences and affordability pressures will drive the trend. Examining the plight of first-time […]

March 4, 2010 More
Micro-finance funds Africa’s first eco-town

Micro-finance funds Africa’s first eco-town

September 15, 2009 More
Repossessions set to escalate, warns Shelter

Repossessions set to escalate, warns Shelter

A “devastating” second-wave of arrears and repossessions is set to hit the UK within the next two years, according to a leading housing charity. Shelter has called on the government and mortgage lenders to prepare for hundreds of thousands of repossessions as rising unemployment takes its toll on homeowners. Figures release this week by the […]

City dwellers dream of countryside escape

City dwellers dream of countryside escape

More than on in three city dwellers are thinking about moving to the countryside because of the level of crime in their neighbourhood. In a poll by Halifax Home Insurance, 37% of urbanites said criminal activity has prompted them to think about moving to a more rural location. This is compared to just 8% of […]

First time buyers pay record deposits

First time buyers pay record deposits

First time buyers are paying record deposits as lenders make it even more difficult to take out a mortgage. Figures from the Council of Mortgage Lenders (CML) show that a typical first time buyer now has to put down a deposit of 24% – the highest percentage since records began in 1974. With the average […]

Nationwide house price index down 15.9%

Nationwide house price index down 15.9%

The latest house price figures from the Nationwide show the average cost of a UK home falling by an annual 15.9%, in December. During the month values took another 2.5% dip, taking the average cost of a property down to £153,048, or £29,000 less than a year earlier. According to the building society’s index, prices […]

BSA survey reveals shift in housing market sentiment

BSA survey reveals shift in housing market sentiment

The Building Societies Association (BSA) has published the results of its latest Property Tracker survey, which indicate that more people believe that now is a good time to buy a home. Forty-six per cent of those surveyed were, to some extent, positive about making a purchase, compared with 34% in September and 27% in July. […]

Connells sells stake in Rightmove

Connells sells stake in Rightmove

Estate agency, Connells, is selling its 17% stake in Rightmove. The decision by the UK’s second-largest residential property agent is a further ill wind for the housing market, particularly as Connells’ 21 million shares in the website are being offered at a discount on the market price. Connells was instrumental in setting up Rightmove eight […]

Repossessions up 71%

Repossessions up 71%

The Financial Services Authority (FSA) has reported a sharp rise in the number of people losing their homes because they are unable to keep up their mortgage payments. In the three months to the end of June, repossessions of residential properties rose 71% to 11,054. The figure compares with 6,476 during the same three months […]

House sales fall to 30-year low

House sales fall to 30-year low

House sales are at their lowest for 30 years. Latest figures from the Royal Institution of Chartered Surveyors (Rics) show that in the three months to the end of August estate agents sold an average 14.4 homes, or 1.1 properties per week. The level of transactions is 47% below August 2007 and compares with average […]

Housing market recovery 18 months away

Housing market recovery 18 months away

The chief executive of HBOS, which owns Halifax, the UK’s largest mortgage lender, has warned that house prices are unlikely to begin a recovery before 2010. According to Andy Hornby, confidence in Britain’s housing market will not return until banks can raise significant sums on the wholesale financial markets. In addition, house price deflation could […]

Persimmon’s sales plummet amid stamp duty confusion

Persimmon’s sales plummet amid stamp duty confusion

Housing developer, Persimmon, has reported a 30% fall in sales of new homes in the six months to the end of June. The company sold 5,501 new homes during the period, down from 8,002 in the first half of 2007. Blaming the UK’s shrinking mortgage market for plummeting sales, Persimmon has also revealed that the […]

House price recovery driven by shortage of homes

House price recovery driven by shortage of homes

The Centre for Economic and Business Research (CEBR) is predicting that house prices will begin a rapid recovery at the end of next year, rising by 30% by 2012. Research undertaken for CEBR by Oxford Economics indicates that a shortage of homes will be the main driver behind a return to property price inflation. In […]