ECONOMIST VIEWS: WHAT IS THE OUTLOOK FOR THE UK HOUSING MARKET? July 19, 2009 SEEMA SHAH CAPITAL ECONOMICSIn our view there are more falls to come, although recent falls have been slower than seen previously. The problem is that just by looking at a couple of months rise you forget how far they have fallen from the peak. The outlook is slightly more positive than it was but we [...]
Drop in house prices easing July 14, 2009 HOUSE prices only fell marginally in May compared to the previous month, taking the annual decline to 12.5 per cent, data from the Department for Communities and Local Government (DCLG) showed yesterday. In the three months to May, UK house prices fell by 0.4 per cent compared to a fall of 4.8 per cent in [...]
Higher mortgage rates are here to stay July 12, 2009 SO Nationwide is offering a mortgage that will allow some of its customers suffering from negative equity to move homes. So far, so mundane – but the loan will be worth 125 per cent of the value of the new property. I spent an hour debating this with David Kuo of Motley Fool, the popular [...]
FSA secures bankruptcy order July 9, 2009 City watchdog the Financial Services Authority (FSA) has secured a bankruptcy order in the High Court against former East London mortgage broker Sadia Nasir for non-payment of a £129,000 financial penalty levied on her by the FSA for mortgage fraud. This is the first time the FSA has taken bankruptcy proceedings for an unpaid financial [...]
Home lending still difficult, warns Bank June 29, 2009 MORTGAGE lending saw its weakest rise on record last month, according to the Bank of England, signalling the squeeze on home lending is far from over, despite recent signs that the property slump could be levelling out. The number of home loan approvals rose for the fourth consecutive month in May, climbing from 43,191 in [...]
THE LONDON REPORT June 23, 2009 The FTSE 100 closed down 0.1 per cent yesterday, falling just 4.03 points to 4,230.02 in a choppy session, with thin volumes exacerbating movements, after losing 2.6 per cent on Monday. The index has gained more than 22 per cent since hitting a six-year low in March, but is still down 4.6 per cent on [...]
Lending weak but mortgage approvals up June 23, 2009 THERE was more good news for the UK housing market yesterday in the shape of mortgage approvals data from the British Bankers’ Association (BBA). The BBA said approvals for home purchase numbered 31,162 in May, compared to 29,018 in April. This marks a 15.8 per cent increase on the same period in 2008. BBA statistics [...]
House asking prices slip back in June June 21, 2009 THE average asking price of a UK property has fallen by 0.4 per cent this month, according to data from property website Rightmove, ending the string of good housing data over the past few weeks. June marked the first fall in five months due to hesitation by sellers and continued tight credit conditions. But on [...]
ECONOMIST VIEWS: WHAT ARE THE PROSPECTS FOR THE UK HOUSING MARKET ? June 21, 2009 NICK BATES MERRILL LYNCHIt has picked up over the past few months – you’ve seen realised mortgage approvals picking up a bit from their troughs and there seem to be improvements in credit supply conditions, but supply is still relatively tight. It’s a mixed housing market at the moment and overall, a lot of the [...]
Brits expect a rise in prices June 11, 2009 THERE were further signs yesterday that Britain’s recession was at an end with data showing improvement in the housing market and rising inflation expectations for the coming year. Figures from the Council of Mortgage Lenders (CML) showed mortgage approvals rising 16 per cent in April to 35,600, indicating more life in the housing market. But [...]