Brace for impact: Bank of England issues warning on house prices May 21, 2014 Super low interest rates could inflate a housing bubble, the Bank of England admitted today, indicating it could step in to cool the rampant market soon. The monetary policy committee (MPC) said it will not raise interest rates to tackle to risks yet, but has pointed to the financial policy committee (FPC) as a [...]
Carney: No rate hike to cool house prices May 14, 2014 INTEREST rates will not be hiked to slow London’s housing boom, Mark Carney said yesterday, arguing there are limits to the Bank of England’s powers when the crisis is caused by a crippling shortage of home building. Instead, Carney said he could make it more expensive for banks to give out mortgages, taking some of [...]
Bank of England inaction threatens house price bubble, warns analyst May 8, 2014 April saw a rare fall in house prices, according to the latest data from Halifax. They dropped by 0.2 per cent, a small monthly decline. But on an annual basis, UK house prices are now up by 8.5 per cent in the three months to April. House prices are driven by supply and demand, and [...]
Warning to UK over runaway house prices May 6, 2014 ECONOMISTS from a group of the world’s leading wealthy countries yesterday issued a stark warning over the UK’s property market, advising British authorities to take action against surging house prices. The Organisation for Economic Co-operation and Development (OECD) added to concerns that the UK’s recent house price growth was out of sync with weak wages, [...]
Don’t panic – British house prices are really boring May 6, 2014 You wouldn’t guess it from London’s boom in house prices, but Britain’s market overall is perhaps the most boring in the developed world, OECD numbers showed today. Prices increased just 1.3 per cent last year, the organisation said – a shockingly dull rise. And don't just take that number in isolation. Britain is [...]
UK house prices are four years ahead of Europe’s April 30, 2014 Britain went through a pretty miserable recession following the financial crisis, and naturally house prices suffered. But look at this chart from Standard and Poor’s which shows how lucky Britain was to avoid the worst of the Eurozone crisis. The crunch in UK house prices, as a national average, lasted only until 2011. [...]
London house price surge to slow after frenzied year April 28, 2014 LONDON house prices could rise more moderately in the months ahead after a manic year of double digit growth, new evidence today suggests. The latest report from Hometrack shows that the amount of time that the average London house spends on the market has risen from 2.7 to 3.4 weeks between March and April. The [...]
Average London house price to top £700,000 by 2020 April 14, 2014 LONDON house prices are set to rise 54 per cent over the next six years, leaving the rest of the UK’s property market even further behind, new research claims. A typical home in the capital will be worth more than £700,000 in 2020, according to the Centre for Economics and Business Research (CEBR). This rapid [...]
House prices see third drop in 15 months April 4, 2014 House prices fell 1.1 per cent in March, according to the Halifax House Price Index. The fall marks only the third monthly drop in 15 months. Halifax pointed out that the monthly movements can be volatile and cited the three month-on-three month measure as a more reliable guide for underlying trends. House prices in the [...]
London house prices are now more than double the rest of the UK April 2, 2014 LONDON’S house prices have soared to historic levels, with the gap between prices in the capital and elsewhere in the UK expanding to the widest it has ever been. Figures released by Nationwide yesterday showed that the cost of a typical London home – at £362,699 in March – was over twice as high as [...]