UK house prices grew at fastest rate since 2015 in November December 1, 2020 UK house prices grew at an annual rate of 6.5 per cent in November, the fastest rate since January 2015, as the sector batted off the second national lockdown. According to Nationwide’s house price index, prices also increased on a month-on-month basis to be up 0.9 per cent compared to last November. As a result, [...]
Mortgage approvals jump to 13-year high as pandemic prompts house moves November 30, 2020 Mortgage approvals jumped last month as the coronavirus pandemic, and support measures such as the stamp duty holiday, prompted more people to move home. The number of mortgage approvals for house purchase reached 97,500 in October, compared to 92,100 the previous month, reaching the highest level since September 2007. Approvals were 33 per cent higher [...]
S&P Global agrees $44bn mega-deal for IHS Markit November 30, 2020 S&P Global has agreed a $44bn (£33bn) deal to buy data firm IHS Markit in a move that will create a new financial services giant.
Before the bell: Equity sentiment slips while all eyes are on OPEC November 30, 2020 Equity markets had a positive run last week on the back of more progress being made with respect to developing a Covid-10 vaccine. In addition to that traders are more optimistic that President Trump will leave office quietly in January. The main story of the week was that the drug being developed by AstraZeneca and [...]
UK housing transactions surge in October due to stamp duty holiday November 24, 2020 UK housing transactions surged in October as the stamp duty holiday reignited the property market following the first coronavirus lockdown. Residential transactions jumped 8.1 per cent to 105,630 last month, compared to October 2019. Activity was 9.8 per cent higher than September, according to the latest statistics from HM Revenue and Customs (HMRC). Non-residential transactions [...]
Nationwide profits resilient despite coronavirus hit November 20, 2020 Building society Nationwide reported a resilient performance in the first half year with profits stable, despite a £139m impairment charge. The lender reported a 17 per cent rise in pretax profit from £309m to £361m, despite a £139m provision for loans that may not be repaid due to the pandemic. Net lending for the six [...]
London’s housing market activity expected to slow next year, survey finds November 12, 2020 London’s housing market activity is expected to slow down next year as the withdrawal of government support measures and a difficult economic backdrop dampens the post-lockdown surge in demand. The latest research showed that both demand for properties and new homes being listed for sales remained strong last month. However a survey by the Royal [...]
Housing market fends off significant hit of second lockdown November 9, 2020 While the second lockdown in England has had a detrimental effect on the country’s hospitality and leisure industries, the housing market is having an entirely different experience. The early impact of the second lockdown is bearing little resemblance to the hit it took in March, according to estate agent Knight Frank. UK house prices have [...]
Mortgage approvals soar to 13-year high as UK housing market booms October 29, 2020 Mortgage approvals jumped again in September to hit a 13-year high as pent-up demand and the stamp duty holiday fuelled the housing market despite the economy’s fragile state. Approvals of mortgages for house purchase rose sharply to 91,500 in September from 85,500 in August, the Bank of England said today. Analysts had expected the number [...]
Lloyds profit beats forecasts on pandemic mortgage boom October 29, 2020 Lloyds posted a forecast-beating profit for the third quarter as Britain’s biggest domestic lender cashed in booming demand for mortgages and set aside a smaller amount to cover bad loans. The bank returned to profitability in the three months to September after posting an unexpected loss in the first half. Lloyds reported a pre-tax profit [...]