Mortgage approvals jump to 16-month high while consumer credit growth slows, Bank of England figures show August 30, 2017 Mortgage approvals for house purchases jumped to a 16-month high in July, new figures from the Bank of England released today show. Last month, some 68,689 mortgages were approved, up from 65,318 in June and a seven-month low of 65,140 in April. Howard Archer, chief economic adviser for the EY Item Club, noted that July’s [...]
The global financial crisis 10 years on: six charts that tell the story July 31, 2017 It is hard to believe but it is 10 years since the start of the global financial crisis. Triggered by a collapse in the US housing market it caused the deepest recession in living memory and the near-collapse of the financial system. Banks failed, government institutions were bailed out, stockmarkets crashed and countries had to [...]
UK house prices: More than three quarters of homes are selling below asking price June 27, 2017 More than three quarters of homes sold for less than asking price in May, new figures have shown – as the number of homes for sale rises. Some three per cent of properties sold for more than asking price in May, a report by the National Association of Estate Agents (NAEA) showed, down from seven [...]
Don’t panic – but remember Brexit will be a tough political process March 15, 2017 Everyone benefits from free trade. For years now the UK has had a persistently large trade deficit with the EU, which by rights should make Europe more amenable to doing a “business as usual” Brexit deal with us. If only life were so logical our Brexit negotiations would run smoothly and full future access would [...]
Estate agent Countrywide’s share price tumbles as profits fall by more than half March 9, 2017 Shares in the UK's largest estate agent have tumbled after it admitted pre-tax profit plummeted by close to 60 per cent last year. Read more: Estate agents Savills warns current UK house price growth is unsustainable The figures Countrywide, the company behind high street estate agency brands including Bairstow Eves and Hamptons International, said today its [...]
UK housebuilders’ shares rise as mortgage approvals hit highest level since February last year March 1, 2017 Housebuilders' share prices rose today after figures from the Bank of England showed that in January mortgage approvals hit the highest level since February 2016. The Bank reported a 2.4 per cent month-on-month rise in January, bringing the number of mortgages to 69,928. Read more: UK house prices rose by just £600 last month This [...]
Mortgage lenders have just had their best January since 2008 February 23, 2017 Mortgage lending hit £18.9bn in January, new figures have shown – two per cent up on the same month last year, and the best January since 2008. The Council of Mortgage Lenders (CML) said the figure was down six per cent on December's £20bn – but added that the number of first-time buyers had continued [...]
The UK’s construction industry started 2017 on a high February 16, 2017 The UK's construction industry started the year strongly as housebuilding dominated activity. The value of new building contracts rose to £6bn in January, according to analysts Barbour ABI, with London accounting for over a quarter of contract value. The capital was boosted by the One Nine Elms project in Vauxhall, the most valuable development in [...]
It looks like UK house price growth is getting its mojo back February 14, 2017 Are house prices bouncing back from their Brexit blip? UK house price growth ticked up to 7.2 per cent in December, official figures showed today – the highest annual growth rate since August last year. The Office for National Statistics' (ONS) UK house price index showed the average price rose to just under £220,000 in [...]
Millions are risking credit rejection thanks to exes with poor financial histories February 13, 2017 A clean break from an ex-partner can be easier said than done… And now, new research from credit checking firm ClearScore has found that millions of Brits risk being turned down for mortgages and other financial products, because they’re unknowingly still tied to ex-partners with poor financial histories. Once you’ve made the step to take [...]