News Tag: housing
March 4, 2010
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 buyers, the CML’s head of research, Bob ...
Homeowners to be replaced by tenants
by Gill Montia
June 23, 2009
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 Financial Services Authority (FSA) show that repossessions have ...
Repossessions set to escalate, warns Shelter
by David Masters
April 22, 2009
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 people living in villages who said they have ...
City dwellers dream of countryside escape
by David Masters
March 17, 2009
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 house price at £160,429, first time buyers are ...
First time buyers pay record deposits
by David Masters
January 6, 2009
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 have now fallen for 14 consecutive months ...
Nationwide house price index down 15.9%
by Gill Montia
December 18, 2008
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.
Fifteen per cent strongly disagreed with ...
BSA survey reveals shift in housing market sentiment
by Gill Montia
December 15, 2008
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 years ago but will remain purely as a customer ...
Connells sells stake in Rightmove
by Gill Montia
October 28, 2008
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 of 2007.
According to the FSA, repossessions have been on the increase ...
Repossessions up 71%
by Gill Montia
September 9, 2008
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 sales of 23.9 properties per three months at ...
House sales fall to 30-year low
by Gill Montia
September 8, 2008
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 be stronger than that seen in the early ...
Housing market recovery 18 months away
by Gill Montia
August 21, 2008
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 average selling price of one of its ...
Persimmon’s sales plummet amid stamp duty confusion
by Gill Montia
August 5, 2008
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 its consumer and housing prospects report, ...
House price recovery driven by shortage of homes
by Gill Montia
July 28, 2008
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.
Hometrack is convinced that the property market slowdown is ...
Housing market downturn gathers pace
by Gill Montia
July 16, 2008
The Government is today announcing new measures to help first-time buyers get a foot on the property ladder, while at the same time increasing the supply of homes available.
The Rent to Home Buy scheme will be operated via local housing companies formed by partnerships between councils and the private sector and will use surplus land for new housing developments.
The scheme ...
Government launches Rent to Home Buy scheme
by Gill Montia
July 8, 2008
The National Association of Estate Agents (NAEA) is urging prospective house purchasers into action, as a record number of homes languish on estate agents' books.
Last month, property website Rightmove calculated that there were over one million homes for sale in England and Wales and the NAEA is pointing out that buyers can no longer hold out for high offers and ...
Estate agents urge prospective purchasers to action
by Gill Montia
June 23, 2008
The Building Societies Association (BSA) has been investigating levels of confidence in the UK residential property market.
Predictions for falls in house prices continue to grab the headlines but according to the BSA's Property Tracker survey, 27% of Britons are convinced that now is a good time to buy.
A more cautious 51% do not consider it a good time to ...
Confidence in UK housing market reflects mixed woes
by Gill Montia
June 16, 2008
A survey conducted for the Tonight programme screened by ITV paints a picture of long-term gloom for the UK housing market.
In a poll of 225 members of the Society of Business Economists (SBE), two-thirds of those questioned believed it could take more than four years for property values to rise above their 2007 peak.
Over 50% of participants estimated ...
Economists predict four year recovery for house prices
by Gill Montia
May 28, 2008
Estate agents are reporting evidence of a return to housing market stability in certain regions of the UK.
April saw figures for the number of viewings required before a sale is agreed and the average difference between asking and selling prices remain stable month-on-month.
According to the National Association of Estate Agents (NAEA), an average sale required fourteen viewings (up two on ...
April housing market showed signs of stability
by Gill Montia
