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 [...]
The British Chambers of Commerce (BCC) has today said the fresh round of quantitative easing (QE) announced by the Bank of England last week may not be enough to prevent the economy from slipping back into recession and “more radical measures” are required. BCC Chief Economist David Kern said in an e-mailed statement in London [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market is suffering due to fears over the economy. However, the Institution said the number of enquiries from potential new buyers increased marginally in the month, with 3% more surveyors reporting a rise rather than a fall. First-time buyers, in particular, [...]
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” [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in August with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]
The Council of Mortgage Lenders (CML) has reported the number of loans for house purchase rose in July. According to the Council, there were 48,400 loans advanced for house purchase in the month – up by 1,000 from June’s figure but almost 7,000 lower when compared with July 2010. Commenting on today’s figures, Paul Smee, [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in July with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in June with house prices falling more than expected. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers remain uncertain about the economic climate. These factors, together with the ongoing mortgage [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the traditional spring selling season has been hit by a lack of mortgage finance and economic uncertainty. This time of year is traditionally busy for the housing market but securing a mortgage remains difficult for many potential buyers – particularly first-time buyers. Furthermore, the [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported a pick up in the number of house viewings in April, as a result of the warm weather. This time of year is traditionally busy for the housing market but securing a mortgage remains difficult for many potential buyers – particularly first-time buyers. Furthermore, the [...]
The Royal Institution of Chartered Surveyors (Rics) has today revealed the UK housing market remained weak last month. The Institution’s March monthly survey revealed sales and prices were flat, while interest from prospective buyers was waning. However, London appears to be bucking the trend with house prices in the capital rising for a second consecutive [...]
The Royal Institution of Chartered Surveyors (Rics) has today revealed the UK housing market remains weak. However, it appears house price falls are easing. While prices in England and Wales continued to fall last month, it was at the slowest pace since last summer. The Rics revealed 26% more surveyors reported house price falls than [...]
The Royal Institution of Chartered Surveyors (Rics) has today revealed uncertainty surrounding the economy means buyers and sellers remain cautious. As a result, the housing market has got off to a slow start in 2011 as buyer demand remains weak and supply levels remain low. However, the Institution said new buyer enquiries picked up in [...]
The Royal Institution of Chartered Surveyors (Rics) has today revealed activity in the UK housing market fell in December as heavy snowfall gripped most of the country during the month. The Institution said new buyer enquiries were down, while new instructions from vendors fell to an 18-month low. Uncertainty surrounding the economy and the ongoing [...]
The Royal Institution of Chartered Surveyors (Rics) has today indicated house prices could fall by around 2% in the next 12 months. However, the Institution highlights that the fall could be much more severe if the Government’s austerity measures hamper the economic recovery. Many reports have pointed to a cooling housing market with continuous falls [...]
Official data from the Department for Communities and Local Government (DCLG) today revealed UK house prices fell by 0.1% in October compared with September, with the average UK home costing £209,466. In the meantime, on an annual basis, house prices are just 5.5% higher, down from the 6.1% annual rise in September. The figures come [...]
The Royal Institution of Chartered Surveyors (Rics) today revealed the ongoing lack of buyers and economic uncertainty continues to impact negatively on the housing market. There continues to be a high number of unsold properties on the market as buyer demand continues to weaken. Buyers have adopted a “wait and see” approach as uncertainty continues [...]
The Royal Institution of Chartered Surveyors (Rics) today reported the lack of buyers continue to weaken house prices. In its latest survey, it found that new buyer enquiries declined for the fifth month in a row as the housing market continued to slow amid the uncertain economic climate. Many potential buyers have said they remain [...]
Official data from the Department for Communities and Local Government (DCLG) today revealed UK house prices crept up by 0.7% in August compared with July, with the average UK home costing £213,116. On an annual basis, house prices were up 8.3% in August, slightly down from the 8.4% reported in July. Despite the monthly rise, [...]
A high level of properties on the market continues to outnumber buyer demand, and this will impact negatively on house prices, according to the Royal Institution of Chartered Surveyors (Rics). This echoes many reports, which all suggest house prices are heading for a double dip. House prices slumped by around one fifth between autumn 2007 [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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