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Property News
Rent rises to £750 a month
18th November 2011
Rents are still increasing at a faster rate than salaries and the average rent is now a hefty £720 a month.
However, the rate of increase has slowed, according to a survey by LSL Property Services, the owner of Your Move and Reeds Rains estate agencies.
Read More below.
http://www.financemarkets.co.uk/2011/11/18/rents-rise-to-750-a-month/
Lack of lending 'will put brakes on market'
17th November 2011
Barratt Developments warned that the shortage of mortgages is holding the housing market back, even as it reported a rise in selling prices.
Read More below.
Borrowers 'more optimistic' about house prices
17th November 2011
The UK's mortgage customers are more optimistic about house prices in the coming months, according to a new industry survey.
According to the data, the rate of decline in house prices slowed this month, with home values perceived to have been on a downward trend since July last year.
Read More below.
Household inflation expectations show fall
June 11th, 2011
HOUSEHOLD inflation expectations have fallen for the first time in more than two years, a survey revealed yesterday, dampening the case for the Bank of England to lift the cost of borrowing from its record low.
Members of the public expect the rate of inflation to fall to an average of 3.9% over the coming year, down from expectations of 4% in the February survey. This is the first time expectations for year-ahead inflation have dropped since February 2009. Read More...
Bank of England holds interest rates at 0.5%
June 9th, 2011
The Bank of England gave some breathing space to beleaguered households today by maintaining interest rates at their record low.
In the week when Scottish Power announced an average hike of nearly £200 in annual power bills, members of the Monetary Policy Committee (MPC) have voted to keep the Bank's base rate at 0.5% for the 27th month in a row. Read More...
Most now expect to wait until 40 to buy a house
May 25th, 2011
BRITONS do not think they will be able to afford to buy their first home until they are nearly 40 and nearly a third have given up trying to get on the property ladder, research has indicated.
The average person who does not yet own a home expects to have to wait until they are 38 before they can afford to buy, rising to 43 in London. Read more...
Homebuilders report reduction in activity
May 5th, 2011
A REDUCTION in activity by housebuilders contributed to a marked slowdown in the construction sector last month.
The Markit/CIPS survey, where a reading of above 50 represents growth, showed the sector grew at 53.3 in April, down from 56.4 the previous month and raising further doubts about the strength of the UK's economic recovery after quarterly GDP figures last week were hit by a 4.7% drop in construction output. Read more...
Persimmon reports new homes market upturn
April 21st, 2011
Persimmon has reported signs of recovery in the new homes market. The homebuilder said new sales reservations for the first three months of the year were up 12% on a year ago. After a soft start to the year, the firm said its order book of £1.14bn had caught up with the level of a year ago. Read more...
Bullish house sellers asking 2.1% more in a month
April 18th, 2011
OVERLY optimistic sellers in Wales increased their asking prices by 2.1% in April but potential buyers continued to stay away from the market leading to a glut of unsold homes, research indicated today.
It was the fourth consecutive month during which new sellers have hiked their asking prices, leaving the average property on the market in Wales and England with a price tag of £235,822 - 6% or £13,400 higher than at the end of last year, according to property website Rightmove.co.uk. Read more...
Sales and buyer inquiries rise as housing market wakes up but first-time buyers still struggle
April 12th, 2011
BUYERS are returning to the Welsh housing market, according to surveyors who yesterday reported increased demand and sales levels in March.
Of those asked by the Royal Institution of Chartered Surveyors (Rics), 17% more of the nation's surveyors reported a rise rather than a fall in new buyer inquiries, the third biggest difference in Britain after Scotland and the south east of England.
Newly-agreed sales increased, with 23% more surveyors reporting their sales were up than down. Read more...
Early interest rates rise looks less likely
April 4th, 2011
PRESSURE to raise interest rates appears to have reduced slightly after a panel of leading economists said they should remain on hold.
The five-to-four vote of the Shadow Monetary Policy Committee, which is drawn together by the Institute of Economic Affairs think-tank, is a reverse from last month, when its nine members voted to raise rates. Read more...
House prices down in most regions, says Land Registry
March 28th, 2011
Homes in London The average home in London has fallen in value since the start of the year
Average house prices in England and Wales saw an annual fall in February, the Land Registry has said, but prices in London and the East of England rose. Read more...
Manufacturing rises at its fastest rate for 16 years
March 11th, 2011
UK manufacturing grew in January at its fastest annual rate in 16 years, official figures have revealed, adding to evidence that the economy bounced back from a dismal end to last year.
Manufacturing output rose 6.8% in January, compared to the same month a year ago, and was 1% higher than in December, its fastest rate of growth in 10 months, the Office for National Statistics said.
The surge was led by electrical and transport equipment industries and followed positive trade figures which showed a boost to UK exports in January. Read more...
Relief as Bank holds interest rate at 0.5%
March 11th, 2011
BUSINESS leaders yesterday welcomed the Bank of England’s decision to hold the base rate at 0.5% despite concerns about rising inflation.
The debate among the nine-strong Monetary Policy Committee (MPC) was likely to have been heated as new pressures on inflation emerged and recent voting evidence showed an increase in the number of members backing a hike.
The borrowing rate was last changed in March 2009 but the CPI measure of inflation rose to 4% in January – well above the Bank’s 2% medium-term target – and governor Mervyn King has warned it could hit 5%.
Unrest in North Africa and the Middle East has also driven up oil prices, with motorists now paying more than £6 a gallon for petrol.
Businesses in Wales breathed a sigh of relief at the MPC’s decision, amid concerns that any rise would undermine a fragile recovery. Read more...
Interest rates held at record low
February 10th, 2011
The Bank of England kept interest rates at their record low of 0.5% despite warnings that inflation could rise to 5% in coming months.
The vote by the Bank’s nine-strong committee is likely to have been finely balanced after pressure for higher rates intensified in recent weeks. Read more...
Mortgage lending at nine-year low
January 21st, 2011
Total UK mortgage lending fell to its lowest level for nine years in 2010, new figures show.
The value of mortgages advanced stood at £136.3bn, which was down 5% from £143.3bn in 2009 and the third year in a row that the figure has fallen.
Lending was just over a third of level seen in 2007, revealing the extent to which the UK property bubble has burst.
The Council of Mortgages Lenders (CML) also said it expected interest rates to rise sooner rather than later. Read more...
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