London Report: British economy in fifth straight growth quarter April 27, 2014 BRITAIN’S economy is expected to show its continued return to form this week, with official data likely to show a fifth consecutive quarter of expansion. Figures due from the Office for National Statistics tomorrow are expected to reveal the economy grew by 0.8 per cent in the first quarter, despite worries that February flooding would [...]
How much does a house in the UK really cost? April 15, 2014 Buying a home in the UK will set you back £235,000 on average, according to the latest figures published this morning by the Office for National Statistics (ONS). “But hold on a minute,” I hear the news-hounds among you say. “Yesterday I read that it was much higher than that.” And indeed you may have. [...]
How much does a house in the UK really cost? April 15, 2014 Buying a home in the UK will set you back £235,000 on average, according to the latest figures published this morning by the Office for National Statistics (ONS). “But hold on a minute,” I hear the news-hounds among you say. “Yesterday I read that it was much higher than that.” And indeed you may have. [...]
House prices see third drop in 15 months April 4, 2014 House prices fell 1.1 per cent in March, according to the Halifax House Price Index. The fall marks only the third monthly drop in 15 months. Halifax pointed out that the monthly movements can be volatile and cited the three month-on-three month measure as a more reliable guide for underlying trends. House prices in the [...]
Aldermore: We have outgrown challenger label April 2, 2014 ALDERMORE’S chief executive yesterday claimed the lender has outgrown the challenger bank label and is a now a well-established player in the market. The bank reported profits of £22.4m in 2013 yesterday, smashing its previous earnings of £1.5m in 2012. Its lending volumes soared by 64 per cent in the year to £3.4bn, which is [...]
Shock February drop in lending for mortgages March 31, 2014 MORTGAGE lending dipped during February, according to surprising official figures from the Bank of Lending, marking the first monthly drop in a year. There were 70,309 mortgages approved by financial institutions in February, down by more than 6,000 from January’s figure, which was the highest in six years, going back to the onset of the [...]
Mortgage approvals drop to lowest level since October March 31, 2014 Mortgage approvals down a touch, according to the Bank of England's latest release. Their number has fallen from 76,753 to 70,309. Economists had predicted that we'd see a drop to just 75,250. Last month's figure also reveals some weakness, as the latest estimate sees it revised down from 76,947 to 70,309. Steve Collins, global head [...]
What you need to know before the open March 31, 2014 European markets are expected to open higher this morning in wake of last week's gains. Investors hope that the European Central Bank will take a more dovish approach to monetary policy and China will take steps to counter economic slowdown. German retail sales rose by a better than expected 1.3 per cent in February. Corporate [...]
London Report: Mortgage lending data to shine light on housing boom March 30, 2014 MORTGAGE approval data for February, due out today, are likely to highlight more growth in the heated housing market. The figures will be closely watched after the Bank of England last week warned some borrowers may be overstretching themselves in the current fast-moving market. Purchasing Managers’ Index (PMI) data for manufacturing, construction and services published [...]
Carpetright cuts profits again as sales wear thin March 26, 2014 CARPETRIGHT issued its third profit warning in less than six months yesterday, saying that the recovery in the housing market has yet to reach its tills and lead to more people refurbishing their homes. The flooring specialist, whose boss Darren Shapland quit after its first October profit warning, said it now expected underlying pre-tax profit [...]