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 [...]
Lloyds closes C&G outlets June 9, 2009 LLOYDS Banking Group is to withdraw its Cheltenham & Gloucester (C&G) brand from the high street in a move that will see the bank wield the axe over up to 1,660 staff as it streamlines in the wake of its takeover of HBOS. The bank said it would close all 164 branches of C&G within [...]
Further signs of strength for UK’s house market, says RICS June 8, 2009 THERE was further evidence earlier today that the UK housing market is beginning to recover, according to data from the Royal Institute of Chartered Surveyors (RICS). The balance of surveyors reporting falling rather than rising prices narrowed in May to -44.1, due to increased demand and tighter supply in the housing market. New buyer enquiries [...]
House prices see surprise jump in May June 4, 2009 HOUSE prices unexpectedly rose by 2.6 per cent in May at their fastest monthly rate since October 2002, according to Halifax’s house price survey released yesterday, although economists warned that house prices still had some way to go before bottoming out. Last month’s rise soundly beat analysts’ expectations of a fall of one per cent [...]
Fears over Barclays sell-off drag the FTSE 100 down June 2, 2009 THE FTSE 100 ended down 0.7 per cent yesterday, hurt by banks after a major shareholder sold its holding in Barclays, although improving US pending home sales lent some support. The index closed 29.17 points lower at 4,477.02, giving up some of the previous session’s 2 per cent rise. Barclays topped the FTSE 100 losers’ [...]
Lending for home loans rises in April June 2, 2009 MORTGAGE approvals for house purchase rose in April for the third consecutive month, according to data released yesterday by the Bank of England, providing further evidence that housing market activity was recovering. But approvals remained at a level that suggests further house price falls are still ahead. The Bank of England said that the number [...]