Google is said to be developing plans to launch a property portal in the UK that would compete with Rightmove. According to a report in the Financial Times, talks are progressing with estate agents and listings on the new site could be free, unlike Rightmove’s, with revenues generated from advertising. Rightmove currently operates the UK’s [...]
Home movers in London have put the credit crisis behind them and are asking 0.8% more for their properties than in November 2007. In its October round up of market, Rightmove has reported that the Capital is leading the way in positive sentiment for the UK housing market. October has also seen the national average [...]
In its latest monthly round up, Rightmove.co.uk has revealed that the average asking price of a UK home increased 0.6% in September. According to the property portal, the rise puts the average vendor’s ambitions at £223,996, up from £222,762 in August. While September’s average asking price is 1.5% lower than this time last year, it [...]
The average asking price of a UK home fell in August, after nudging up 0.6% in July. Vendors shaved a typical £5,102, or 2.2%, off their ambitions as they adjusted to lower seasonal demand. The decline took the average asking price back to £222,762, compared to £227,864 in July, although London saw a steeper slide [...]
Rightmove has reported a 0.6% rise in asking prices in July, taking the average vendor’s ambitions to £227,864. The property portal therefore suggests that given June’s slight fall of 0.4%, the UK housing market could remain in a “steady state” during the second half of 2009. According to the firm, the best time to pick [...]
Rightmove has reported that the average asking price of homes in England and Wales fell 0.4% in the five weeks to 13th June. The decline follows a 2.4% rise in the same period to 9th May, equating to a jump of £5,000 in a typical vendor’s ambitions. According to the property website, the average asking [...]
The average asking price of a home in England and Wales has increased for the fourth consecutive month, according to Rightmove. The property website has reported a 2.4% rise in the four weeks to 9th May, equating to a jump of £5,000 in the average vendor’s ambitions and taking the average asking price to £227,441. [...]
Thus far in April, asking prices have fallen by an annual 7.3 percent according to Rightmove.co.uk and is the smallest drop since January. In addition to an annual 9 percent fall in March, it seems as though asking prices and, in turn, house prices are beginning to level out as credit is becoming more readily [...]
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% [...]
Rightmove has reported a surge in new buyer enquiries in January. According to the UK’s largest property website, new buyer enquiries rose by 108% last month, compared with a year earlier. The firm’s spokesman, Miles Shipside, believes the rise indicates pent up demand on the part of prospective home movers, however, sales figures are not [...]
Rightmove has reported that the average asking price of a house in England and Wales has fallen by 7.3% over the past year, to £213,570. Average asking prices in January are 1.9% down on December, with the biggest drop recorded in the West Midlands, at 6%. The East Midlands recorded the only increase in average [...]
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 [...]
According to a report by property search website, Rightmove, homeowners are slashing their asking prices by £6,500 in a bid to sell their home. In the four weeks to November 8, the average asking price of a home in England and Wales was £223,000 - a 2.9% decrease on the previous month and the largest [...]
Rightmove has been experiencing a sharp downturn in the number of estate agents advertising on its website. The company, which operates the UK’s largest property portal and claims to advertise around 90% of British homes for sale, has reported that up to 300 estate agents are terminating their agreements each month. This time last year [...]
Rightmove is cutting staff numbers by 20% and making 60 people redundant. The property website, which advertises around 90% of homes for sale in the UK, has seen sales plummet and is now joining High Street estate agents in laying-off staff. The company says that while these are the first redundancies it has made as [...]
Home sellers in England and Wales appear largely unmoved by the continued shortage of mortgage funds and dramatically worsening outlook for the economy and are still marketing their properties at unrealistic prices. Property website Rightmove has reported that asking prices in England and Wales rose by 1% in the four weeks to 11th October. The [...]
Rightmove has reported a 1% fall in the asking price of the average home in the month to 13th September. The decline is below the 2.3% recorded by the property website in August but puts the average asking price at £227,438 or £14,204 less than a year ago. The firm has also noted a slight [...]
The housing market slowdown has hardly been good news for property portal, Rightmove, as its share price reflects. However, the company has just reported a 63% rise in pre-tax profit in the six months to the end of June, to £19.8 million. Revenues for the period increased 49%, to £37.8 million, with both sales to [...]
The National Association of Estate Agents (NAEA) is launching a website that will allow its 10,000 members to advertise properties at no charge. The site should be up and running in October and aims to bring solace to a profession that has been hard hit by the credit crisis. It may also provide strong competition [...]
Rightmove has reported that the average asking price of a UK home fell by 1.8% between June and July, indicating vendors’ acquiescence to a significant market downturn. According to the website, the rate of decline took £4,345 off the asking price of the average property and outstripped the previous record for July when, in 2005, [...]
A year has passed since the government replaced Child Trust Funds with Junior ISAs (JISAs) but more than half of parents are unaware that they exist, according to research by friendly society Family Investments Children born between 1 September 2002 and 2 January 2011 were eligible to open a Child Trust Fund and to receive [...]
PPI costs increase for Lloyds and Barclays
Lloyds Banking Group has set aside a further £1 billion to cover compensation costs for customers who were mis-sold Payment Protection Insurance (PPI). Yesterday, Barclays revealed £700m of PPI costs in the 2012 third quarter increasing its total provision to £2bn. Lloyds Banking Group, which has made the largest PPI provision out of all the [...]
Bonfire Night worst day for burglaries warns Aviva
Insurance group Aviva is warning households to be vigilant over security at this time of the year, as burglaries tend to increase signficantly between Halloween and Bonfire Night. On Bonfire Night the number of burglaries increases by around 25 per cent compared with an average day, according to the company’s research. Aviva also reported a [...]
Consumer confidence hits six-month low
Although the UK has officially emerged from recession, consumer confidence fell to -30 in October from -28 in September, according to market researcher company GfK NOP. This is the lowest level of consumer confidence since April when the UK was in an economic slump. Analysts had expected the index to remain stable at -28. Respondents [...]
100,000 mortgage holders escape negative equity trap
New figures from the Council of Mortgage Lenders (CML) reveal that the number of borrowers in negative equity fell 13 per cent to 719,000 between the first quarter of 2011 and the first quarter of 2012. The number of borrowers paying a mortgage greater than the value of their property fell despite a further small [...]
Banking commission appoints counsel to cross-examine witnesses
The Parliamentary Commission on Banking Standards has appointed counsel to cross-examine witnesses during its inquiry into the collapse of Halifax Bank of Scotland. Barrister David Quest has been appointed to question witnesses in a public evidence session, as part of a sub-committee panel inquiry into the bank. Andrew Tyrie, chairman of the Commission said: “This [...]
Mortgage approvals increased in September
An increase in the number of mortgage approvals in September suggests that the ‘Funding for Lending’ scheme, launched by the Treasury and the Bank of England, may be starting to give the property market a boost. According to Bank of England figures, the number of loans approved for house purchase increased by 2,103 to 50,024 [...]
Five million paid less than living wage
Five million people in the UK are paid less than the ‘living wage’ of £7.20, or £8.30 in London, according to a new report by KPMG. In Northern Ireland, 24 per cent of workers receive less than they require in order to pay for essentials and the situation is little better in Wales where 23 [...]
Commission calls for radical change in housing market
A new study by the Future Homes Commission suggests that the way homes are built in the UK is dysfunctional and needs a radical overhaul. The organisation, which was established by the Royal Institute of British Architects, believes that 300,000 extra homes could be built every year without any input from Government funding. Instead, the [...]
The UK economy emerged from recession yesterday and now leads the way in Europe according to research group Capital Economics. Gross Domestic Product (GDP) grew by one per cent in the third quarter from July to September, the biggest rise for five years, the latest official figures from the Office for National Statistics (ONS) show. [...]
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