Eight charts that sum up 2014 December 22, 2014 This year will be remembered for the fragmentation of mainstream politics, Scotland's near exit from the 307-year old union and an economy which the Bank's chief economist Andy Haldane described as "writhing in both agony and ecstasy." What does all that look like? Here are eight charts that sum up the year. (Source: Getty) 1. [...]
In charts: UK house price growth slows but first-time buyers still feel the pinch December 16, 2014 First-time buyers are paying 12 per cent more this year than at the same point last year, according to data from the Office for National Statistics (ONS). The ONS revealed house prices were flirting with stagnation in October, when they increased just 0.1 per cent on a month-on-month basis. After yesterday’s data from Rightmove showed [...]
Stressing out: Britain’s lenders will be ticked off by the Bank of England as new tests bite December 14, 2014 If you happen to stroll down to Threadneedle Street in the early hours of tomorrow morning and find a hive of activity do not be alarmed – it’s just the start of the Bank of England’s inaugural stress tests results. While most of London slumbers at 5am, prudential regulation authority (PRA) officials will be locked [...]
The other FCA concern: Why its new rules for bankers would hurt the UK economy December 8, 2014 IT’LL be a busy week for the Financial Conduct Authority (FCA). Yesterday, the regulator announced a new strategic approach for the organisation, with key personnel changes and a “sharper focus” on the challenges ahead. A review by Clifford Chance partner Simon Davis into the FCA’s handling of an insurance probe earlier this year is also [...]
UK house price growth slows, but prices are five times average earnings December 4, 2014 House prices across the UK were up 8.2 per cent in the year to November, another month of slower growth after October's 8.8 per cent rise. The price to earnings ratio is ticking up, however, and has reached a multiplier of 5.02. Halifax’s house price index also showed quarterly prices up 0.7 per cent (slowing [...]
House prices expected to slow after mortgage approval dip December 1, 2014 THE MORTGAGE market continued to slow in October, reflecting a wider slump in the housing market. The number of loan approvals for house purchase was 59,426 in October compared with the average of 63,727 over the previous six months, according to Bank of England figures released yesterday. Mortgage approvals have dipped in each of the [...]
Bank of England: UK mortgage approvals fall to their lowest since 2013 December 1, 2014 The number of mortgages approved by banks fell to their lowest since June last year in October, figures by the Bank of England showed today. There were 59,426 approvals for house purchases during the month, down from 61,234 in September. That's down from an average of 63,727 over past six months. Mortgage approvals have been [...]
…while lending drops further November 25, 2014 MORTGAGE approvals for house purchases declined for a fourth consecutive month as the market showed signs of slowing. The 37,076 approvals in October mark a 17-month low, according to figures released yesterday by the British Bankers Association. “With housing market activity appreciably off its early-2014 highs, we suspect house prices will generally rise at a [...]
Mortgage approvals fall to their lowest in 17 months as unsecured borrowing leaps November 25, 2014 The Bank of England's Mortgage Market Review (MMR) continues to wreak havoc on mortgage lending. Figures published this morning showed approvals fell to 37,100 in October, their lowest level in 17 months in October. Analysts had expected the British Bankers' Association's (BBA) high street banking statistics to show a more modest fall from September's 39,300 [...]
Buying slows as house prices fall in October November 6, 2014 THE HOUSING market is slowing down as high prices and strict mortgage regulations put off buyers. The average house price fell by 0.4 per cent in October, according to figures released yesterday by Halifax. Monthly data can be volatile, but growth in the three months to October also slowed to 0.8 per cent – the [...]