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Monday 04th of May 2009

News Tag: price

April 28, 2009

BP quarterly profit hit by falling oil prices

by Kay Murchie
”BP
Oil giant BP has announced a sharp fall in quarterly profits as oil prices fall and demand weakens. Net profit for the first quarter was $2.4 billion (£1.64 billion), a fall of 62% compared with the same period in 2008. However, today’s results have exceeded analysts expectations and shares in the company were up 1.1% to 489p in early trading. ...



April 9, 2009

Britons resigned to housing market downturn

by Gill Montia
Britons resigned to housing market downturn
New research from Unbiased.co.uk indicates that the majority of Britons are not expecting to see house prices rise during 2009. In a recent survey by the mortgage advice website, 58% of respondents said they were not anticipating an upturn this year, while 18% didn't see any prospect of an improvement until at least 2011. Twenty-eight per cent of people surveyed were actually ...



March 30, 2009

Hometrack reports rise in house sales

by Gill Montia
Hometrack reports rise in house sales
Hometrack is the latest monitor of the UK property market to present an analysis: the housing intelligence firm's March survey shows house prices continuing to fall, although sales volumes rose by 19% on a month earlier. In addition, the number of potential buyers registering with estate agents increased for the second month in a row, up by 9% on February. According to the ...



March 27, 2009

Oil rises as US economic outlook shows glimmer of hope

by Peter Charalambous
”Oil
For five sessions in a row, crude oil has closed at above $50 a barrel and has risen after better than predicted news for US durable goods and hopes of a rebound on the stock market. Crude oil is being sold off in greater swathes as there is now a huge inventory of US oil, and a combination ...



March 17, 2009

Rightmove pleads for smart asking prices

by Gill Montia
Rightmove pleads for smart asking prices
Rightmove has reported that the average asking price for a home in England and Wales was down an annual 9% over the four week to the 7th March. New listings for the period fell 57% year-on-year, to 79,000. However, the property website found that in March, the average asking price for a home rose 0.9% on February, to £218,081. London led the trend ...



February 17, 2009

Official figures put house prices down an annual 10.2%

by Gill Montia
Official figures put house prices down an annual 10.2%
Figures from the Department for Communities and Local Government (DCLG) show UK house prices falling 2.3% in December. Detached homes were at the forefront of the decline with the average value falling by 4.1% during the month. Meanwhile, terraced houses lost 0.8%; flats were down an average 2.4%; bungalows and semi-detached homes down by 2.3% and 2% respectively. In December, the ...



February 5, 2009

Halifax urges caution as house prices rise 1.9%

by Gill Montia
Halifax urges caution as house prices rise 1.9%
Some good news at last on the UK housing market! The monthly house price index from Halifax shows that eleven consecutive months of falling prices have been interrupted by an average rise of 1.9% in January. The turnaround brings the average price of a home to £163,966 or £4,000 more than in December 2008. The result will have surprised most analysts as ...



January 7, 2009

Prime country houses catch up with market downturn

by Gill Montia
Prime country houses catch up with market downturn
Upmarket estate agent, Knight Frank, has reported that owners of prime country houses are becoming more realistic when it comes to selling. Prices for prime country residences fell by an average 16% during 2008 but the decline accelerated in the last three months of the year, when values plummeted by 9%. City job losses in the fall out from the ...



December 30, 2008

Land Registry detects 12.2% slide in house prices

by Gill Montia
Land Registry detects 12.2% slide in house prices
The official record of the collapse of the housing market in England and Wales has been updated by latest figures from the Land Registry. In November, the Registry noted a 1.9% fall in the average cost of a home, taking the annual decline to 12.2%. The pace of decline accelerated in October when prices fell 1.5% on a monthly basis and ...



December 15, 2008

Barclays chief sees 30% off UK house prices

by Gill Montia
Barclays chief sees 30% off UK house prices
The group chief executive of Barclays is predicting that UK house prices will see a peak-to-slump fall of between 25% and 30%, against a backdrop of a shrinking economy. John Varley has been speaking out in an interview for Sky News, ahead of unemployment figures due to be release by the Government on Wednesday. He has also criticised mortgage borrowing ...



December 8, 2008

Difficult year ahead for London house prices

by Gill Montia
”Difficult
Jones Lang LaSalle (JLL) is predicting that UK property prices will decline by between 13% and 15% in 2009. The international real estate firm expects London to see a steeper than average fall, forecasting a drop in the Greater London area of between 15% and 17%, while in central London homeowners could see 16% to 20% wiped off values. The company says heavy job losses in the ...



December 4, 2008

House prices down 2.6% in November

by Gill Montia
House prices down 2.6% in November
Halifax has reported a further 2.6% fall in the average price of a UK home, in November. The annual rate of decline now stands at 14.9% (compared with 13.7% in October), with the average cost of a property at £163,605, roughly the same as in July 2005 and down £31,485 over the past 12 months. The annual figure is calculated on a ...



November 28, 2008

Land Registry reports 10.1% annual fall in house prices

by Gill Montia
Land Registry reports 10.1% annual fall in house prices
Latest figures from the Land Registry show house prices in England and Wales falling by an annual 10.1%, in October. The average value of a home declined 1.5% during the month, to £165,529, a figure last seen in mid-2006. The Registry compiles its data from completed transactions and therefore lags behind other monitors of the housing market. By comparison, ...



November 27, 2008

House price slide levels to 0.4% in November

by Gill Montia
House price slide levels to 0.4% in November
The slide in UK house prices levelled off slightly in November, with the average price of a home declining just 0.4%, according to Nationwide. The fall compares with a 1.3% drop in October and means that house prices are down 13.9% on November 2007, compared with an annual fall of 14.6%, in October. The price of the average home now ...



Londoners make large cuts in asking prices

by Gill Montia
Londoners make large cuts in asking prices
In the past fortnight homeowners in London have begun to drastically reduce asking prices to secure a sale. Research from property search engine, Globrix, has revealed that those anxious to find a purchaser before Christmas are prepared to knock over £100,000 off the price of their homes. In the capital's two most expensive boroughs, Westminster and Kensington & Chelsea, the average price ...



November 6, 2008

House prices down 2.2% in October

by Gill Montia
House prices down 2.2% in October
Halifax has published its monthly house price index showing a 2.2% fall in the average cost of a UK home, in October. The decline takes the annual fall to 13.7%, and brings the average cost of a home back to its October 2005 level of £168,031. The lender's chief economist, Martin Ellis, comments that significant pressures on householders' incomes and the reduction in ...



November 4, 2008

Fears for US recession as oil price reaches 20-month low

by Kay Murchie
”Fears
The price of oil fell to $59.32 a barrel in early trading today, the lowest point since February 2007, amid growing concerns that a US recession will reduce demand. Oil prices reached a high of $147 a barrel in mid-July. Last week, Opec said it would cut its output by 1.5m barrels a day to 27.3m barrels ...



October 30, 2008

House prices down almost 15%

by Gill Montia
House prices down almost 15%
Nationwide has published its latest house price survey showing the cost of the average UK home falling again, in October, to £158,872. The monthly loss stood at 1.4%, taking the annual decline to 14.6%, or £27,172, in terms of the average house price. The figures compare with a September monthly fall of 1.7% and an annual fall of 12.4%, according to Nationwide. House prices ...



October 28, 2008

Land Registry records 8% decline in house prices

by Gill Montia
Land Registry records 8% decline in house prices
The Land Registry has published house price data for September, showing the cost of the average home down 2.2% (£5,700) during the month, to £168,814. The decline means that house prices in England and Wales have fallen 8% over the year, although the rate of decline accelerated last month, from 4.6% in August. Wales saw the biggest monthly fall with ...



October 27, 2008

UK house prices to fall by an average £40,000

by Gill Montia
UK house prices to fall by an average £40,000
The Centre for Economics and Business Research (CEBR) is predicting that the average cost of a UK home will fall up to £40,000 by the end of 2009. The independent consultancy expects the market to show signs of stability in 2010, having seen a maximum 20% decline in prices, from the market peak last summer. Based on this assumption, the ...



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