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, [...]
Figures released by the Bank of England today revealed that 42,000 home loans were approved in May, which is a 27% decline compared with April and represents a 64% fall compared with 12 months ago. The Bank said the figures were the lowest since it began recording the data in 1993. The figures were also [...]
Rightmove has calculated that there are now over one million homes for sale in England and Wales. According to the property website, the record number of homeowners eager to move include those anxious to make a sale before prices drop further and others who are keen to capitalise on the downturn by selling up and [...]
HomesMatter has requested an Office of Fair Trading investigation into Rightmove’s decision not to allow it to advertise on the property portal. The recently established estate agency charges a flat fee of £899 plus VAT to sell a property, regardless of its value. According to HomesMatter, Rightmove has declined the business because the estate agency [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
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