Tag: residential

UK’s million pound properties slide away

UK’s million pound properties slide away

November 4, 2009 More
Distressed sales surge in Midlands and the North

Distressed sales surge in Midlands and the North

Property Portfolio Rescue (PPR) has published its latest UK distress index, showing a surge in the number of distressed home sellers in major cities in the Midlands and the North. In the three months to the end of September, the index rose by 60% in these regions, compared with the same period of 2008. According […]

October 20, 2009 More
AFB demands action on second mortgage market

AFB demands action on second mortgage market

The Association of Finance Brokers (AFB) is lobbying the Government to better regulate the second and subsequent charge residential lending market. Second charge loans, known as “homeowner loans”, involve consumers with existing mortgages taking out further personal borrowing, secured against their home. A recent publication from the Office of Fair Trading proposes new guidance for […]

Home repossessions up 54%

Home repossessions up 54%

Home repossessions rose to 40,000 during 2008, according to data from the Council of Mortgage Lenders (CML). The figure is up 54% on 2007, although 5,000 fewer than forecast. The CML attributes the respite to mortgage lenders making “strenuous efforts” to ensure that repossession is used as a last resort. The body also points out […]

HMRC admits to error in UK house sales figures

HMRC admits to error in UK house sales figures

Monthly residential property statistics published by the Government will not be appearing in August because errors have come to light. Under stamp duty requirements, HM Revenue & Customs (HMRC) is advised of completed UK property transactions where values are £40,000 and above. The latest update on house sales was scheduled to be published on 21st […]

Carsberg Review recommends optional HIPs

Carsberg Review recommends optional HIPs

A new report on the residential property sector in England and Wales is recommending a number of reforms for the property buying and selling industry. The Carsberg Review was commissioned by the Royal Institution of Chartered Surveyors, the National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents. It criticises the system […]

UK residential property loses £1bn a day

UK residential property loses £1bn a day

Zoopla.co.uk, the property valuation website, is suggesting that UK residential properties have lost a combined £300 billion in value since the housing market peaked, in September 2007. The firm’s database contains details of 26 million dwellings and the estimate of each property’s value is based on a variety of factors including current asking prices, property […]

Three-year decline could take 50% off UK house prices

Three-year decline could take 50% off UK house prices

Analysts who specialise in futures trading are forecasting a minimum three-year decline in UK residential property prices that will take 50% off values in real terms. According to experts who predict long-term investment potential, the process will begin with a 10% fall in house prices during 2008, followed by a 10.5% drop in 2009. Prices […]