PM: tackling public debt has proved harder than thought November 21, 2011 DAVID Cameron yesterday vowed to stick unflinchingly to the government’s deficit reduction plan as he promised new measures to boost the housing market and bring forward infrastructure projects, despite gloomy growth figures expected from the Office for Budget Responsibility next week. He admitted tackling the public debt had proved “harder than anyone envisaged”, in an early [...]
Housebuilders to get £900m subsidy November 21, 2011 THE GOVERNMENT put its balance sheet at the disposal of thousands of would-be homeowners yesterday, unveiling what it called an “innovative” scheme that will see the state underwrite mortgages for buyers of new-build homes. It also announced that it is earmarking £900m in subsidies for housebuilders on the grounds that building homes creates jobs and [...]
More overseas than UK buyers for City offices November 21, 2011 THE LEVEL of overseas ownership of City office properties has overtaken UK ownership for the first time. research by property group Development Securities has claimed. According to new research by the developer and the University of Cambridge, foreign investors now own 52 per cent of the Square Mile’s office stock, growing from 25 per cent [...]
CITY VIEWS: SHOULD THE STATE BE SUPPORTING HOUSE-BUYERS? November 21, 2011 DAVID CALVERT | MIZUHO “I think that the government should be more involved with planning and making land available, so that these people can build their own homes rather than going back to sub-prime loans.” LIAM DUNFORD | SAVILLS “There are too many international problems relating to bank lending. I think that the UK economy [...]
Let’s not go back to sub-prime loans November 21, 2011 THERE are two ways one can address a problem caused by faulty policies: by tackling its root causes – or by addressing some of its manifestations, and risk creating more issues thanks to the law of unintended consequences which plagues all government actions. Regrettably, when it comes to house prices, the government is largely going [...]
Cameron says Eurozone crisis is “chilling” UK November 21, 2011 Prime Minister David Cameron will warn today that the crisis in the Eurozone is having a “chilling effect” on the UK economy, even as he sets out plans to spend £400m to kick-start growth. The government’s growth drive, which will focus on funding new housing, is likely to be one of many announced in coming [...]
BOOST FOR MORTGAGES November 21, 2011 THE GOVERNMENT will today launch a scheme to encourage first-time buyers to take out 95 per cent mortgages even as new figures show the largest monthly drop in house prices since before the financial crisis. Prime Minister David Cameron and his deputy Nick Clegg will today unveil a plan to “help people get on the [...]
Let’s not go back to sub-prime loans November 20, 2011 THERE are two ways one can address a problem caused by faulty policies: by tackling its root causes – or by addressing some of its manifestations, and risk creating more issues thanks to the law of unintended consequences which plagues all government actions. Regrettably, when it comes to house prices, the government is largely going [...]
Mortgage lending falls November 18, 2011 Gross mortgage lending decreased four per cent from September, down to an estimated £13.1bn in October, said the Council of Mortgage Lenders (CML) today. Though there was a 13 per cent increase from October 2010, up from £11.6bn, housing market activity is still low compared to long term averages, industry experts said. Housing prices are [...]
Rent rises start slowing but still exceed incomes November 17, 2011 RENTS hit a new high in October, according to LSL Property Services’ monthly buy-to-let index, published today, though the rate of increase fell to its lowest since February. The average rent in England and Wales rose by 0.2 per cent in October to £720 per month, the index showed. The increase compares with a jump [...]