Here’s why government spending isn’t fixing the housing crisis, according to Shelter August 31, 2016 The government is pouring money into schemes that boost demand for properties – but is failing to put enough cash into house building, according to research from housing charity Shelter. The current parliament has spent two thirds of its housing money – £28.7bn – on programmes such as the Lifetime ISA and Help to Buy, which [...]
It’s official: Marginalised people drove Brexit vote August 31, 2016 Lack of opportunity across huge swathes of the UK led to Brexit, one of the first academic analyses into what drove the referendum result has found. The Joseph Rowntree Foundation (JRF) said that people feeling they had been left behind were the bread and butter of Brexit voters. The research concludes that groups of voters who [...]
House prices went up in August – but Nationwide says the outlook post-Brexit vote is “cloudy” August 31, 2016 Despite the recent Brexit vote – and changes to stamp duty rules – pouring cold water on new buyer enthusiasm, house prices picked up again in August. The Nationwide house price index for August showed prices increasing by 0.6 per cent, with annual house price growth increasing to 5.6 per cent, up from 5.2 per cent in [...]
Pension or property: Which is the better option for your retirement? August 31, 2016 The Bank of England’s chief economist Andy Haldane drew ire from the pensions industry for the second time this year, when he claimed that property was a better investment option for retirement than a pension in an interview with The Sunday Times this weekend. “It ought to be pensions but it’s almost certainly property,” Haldane said. [...]
Berkeley and housing stocks risk being evicted from FTSE 100 index August 31, 2016 Housebuilder Berkeley Group could be booted from the FTSE 100 today after a near 30 per cent slump in its share price so far this year. Building materials company Travis Perkins is also teetering on the edge of the blue-chip index with shares now down about 12.5 per cent since the UK voted to quit the [...]
Mortgage approvals fell to 18-month low in the first full month since the Brexit vote August 30, 2016 Mortgage approvals hit an 18-month low last month, according to figures from the Bank of England. In the first full month after the Brexit vote, approvals fell to 60,912 – down from 64,152 approvals in June. The number of approvals has been falling since March, when the stamp duty hike on second homes came into effect. There [...]
UK mortgage approvals fell to their lowest level in 18 months in July – meaning house prices could fall by five per cent next year August 24, 2016 The number of mortgages approved fell to their lowest level in 18 months in July, suggesting house prices could fall considerably by the end of 2017, the British Bankers' Association (BBA) has said. Figures by the BBA showed 37,622 mortgages were approved in July, down from 39,763 in June and 41,620 in May. It's an impressive slide since [...]
Bringing home the bacon: Three ways you can use alternative finance to invest in property August 18, 2016 Property crowdfunding and marketplace lending aren’t for everyone. The former can involve high fees, and you won’t know what your investment is worth without selling it – which can be hard if you’re buying a stake alongside numerous other people. There are risks even with the latter. The property market is very sensitive to the [...]
Mortgage approvals in the UK fell to a year low in June July 29, 2016 Mortgage approvals in the UK fell to their lowest point since May 2015 in the period leading up to the country's referendum on EU membership. According to the Bank of England, 64,766 mortgages were approved in June – down from the 66,722 approved in May. Read more: Everything you need to know about the UK's housing [...]
Mortgage lending fell in June but has “bounced back” since the stamp duty hike according to the British Bankers’ Association July 26, 2016 Mortgage lending dropped in June as banks approved the fewest mortgages since March last year and cut business lending. House purchase approval numbers were 11 per cent lower than in June 2015, but have "bounced back a little" from the numbers seen after the introduction of a stamp duty hike on second homes, the British [...]