Bubble fears as average London property hits £600,000 with outer boroughs seeing highest rises December 10, 2015 The average price of a London property is now just shy of £600,000, reigniting fears of a bubble and prompting talk of a market correction. The average London house price was £598,173 in October, 5.6 per cent higher than the same month last year, according to figures released today by estate agents Your Move and Reeds [...]
House price growth dips as UK housing value increases by £1.8 trillion in 10 years December 8, 2015 The value of the UK's housing stock has jumped by £1.8 trillion in the past decade, research by Halifax showed today. UK homes are now worth £5.1 trillion, a 53 per cent jump from £3.3 trillion in 2005. That's a £76,316 rise for each home in the UK. The news came as Halifax reported annual house price [...]
Bank of England stress tests: RBS and Standard Chartered flagged for “capital inadequacies” as Bank warns new capital requirements could be introduced next year December 1, 2015 British banks could be required to bolster their capital reserves by billions of pounds as soon as next year, the Bank of England said this morning, as it revealed that two of the country’s largest lenders had narrowly avoided failing its latest round of stress tests. The Bank is actively considering raising the so-called countercyclical buffer, [...]
Mortgage lending and individual borrowing rose in October according to the latest Bank of England credit report November 30, 2015 The number of mortgages approved in October rose to 69,630, just up from September's 69,012 figure and higher than the 68,099 average over the last six months, Bank of England figures published today showed. The value of new mortgage approvals hit £12.2bn. The October total was just shy of the 70,000 figure forecast by analysts and up 17.2 per cent year-on-year, from 59,423 in October [...]
UK house prices: Mortgage lending up 26 per cent in October as lending recovery gains momentum – the British Bankers’ Association November 25, 2015 Mortgage borrowing was a giant 26 per cent higher in October than in the same month last year, according to figures released by the British Bankers Association. The amount loaned out reached £12.9bn, with the number of mortgages approved by lenders up 27 per cent on last year. Approvals for house purchase were up 21 per [...]
UK house prices will continue climbing, but don’t expect rates to be hiked as a result November 18, 2015 The housing market has always been key to the UK economy. People who move house often undertake home improvements, and strong demand (in theory) leads to more houses being built, both of which boost GDP. Given the major impact this can have on future interest rates, the UK housing market has traditionally been crucial for [...]
Challenger bank Aldermore looking as safe as houses in third quarter results, as residential mortgages push up lending, but share price drops November 12, 2015 Aldermore has today reported loan growth of about £1bn over the last nine months, bringing total net loans to customers to £5.8bn, an increase of 20 per cent from the end of December. In its third-quarter results for 2015, the challenger bank, which was set up by former Barclays executive Phillip Monks, said it was on [...]
House purchase lending jumps to seven-year for October November 12, 2015 Mortgage lending reached its highest level for the month of October in seven years, new data released today shows, as low inflation rates and rising wages helped keep consumer confidence levels high. Overall house purchase lending approvals reached 72,409 in October, up by 5.1 per cent on the previous month and 21.9 per cent ahead [...]
UK house prices: Persimmon share price falls despite jump in sales November 4, 2015 Are housebuilders finally feeling the heat? FTSE-listed builder Persimmon reported a 12 per cent sales hike in the third quarter this morning – but shares continued to slide after the sector had a spot of bother with a broker yesterday. The figures Sales were 12 per cent higher in the period since it reported its half year results on [...]
BBA: Mortgage approvals leap as buyers race interest rate hike October 26, 2015 The number of mortgage approvals leaped 24 per cent in the year to September, figures published this morning showed, suggesting buyers are racing to secure mortgages before interest rates are hiked. The figures, by the British Bankers' Association, showed gross mortgage borrowing in September rose to £12.1bn, 17 per cent higher than a year ago. [...]