Economic shocks sent FTSE back below the 6,000 mark June 1, 2011 BRITAIN’S top share index dropped back yesterday as below-par US economic pointers and weak UK manufacturing and housing data intensified investor concerns about the strength of the global economy. At the close, the FTSE 100 index was down 61.38 points, or one per cent, at 5,928.61, reversing sharply in the afternoon after briefly pushing back [...]
House prices in first rise since January May 31, 2011 House prices in England and Wales rose by 0.8 per cent in April, the first monthly increase since January and the biggest rise since January 2010, data from the official Land Registry showed. However, average residential property prices were still 1.3 per cent lower than a year ago at £163,083 the Land Registry said. House [...]
Banks’ mortgage lending falls May 25, 2011 MORTGAGE approvals dropped by six per cent in April, according to figures from Britain’s leading high street banks. Approvals fell to 29,355, down from 31,205 in March, while gross mortgage lending was five per cent lower than the same time last year, the British Banking Association (BBA) said. The average price of houses purchased with [...]
House prices rise 1.2pc in March May 17, 2011 House prices rose by 1.2 per cent on a seasonally-adjusted basis in March, taking the year-on-year rate of growth to 0.9 per cent, government figures showed. The Department for Communities and Local Government said the average price of a home stood at 205,565 pounds in March. The DCLG data is based on a sample of [...]
Bank reveals weak lending on mortgages May 4, 2011 SLUGGISH mortgage lending and stuttering house prices continue to haunt the UK’s housing market, a series of data releases showed yesterday. Mortgage lending grew by just £400m in March, the Bank of England revealed – below increases of £1bn and £1.7bn in the two previous months, and an average jump of £800m over the last [...]
Bank lending data shows slump May 4, 2011 Lending to consumers and homebuyers rose less than expected in March, Bank of England data showed, adding to evidence of a sluggish economy from the construction sector and falling house prices. A slew of weaker-than-expected data, kicked off by tepid first-quarter growth figures last week, have caused economists to push back their expectations of a [...]
Mortgage loans at 8-month high April 27, 2011 THE number of mortgages approved for house purchase rose to an eight-month high during March as activity in the property market showed signs of picking up, figures have revealed. A total of 31,660 loans were approved for people buying a new home, five per cent more than during the previous month and the highest level [...]
Gross mortgage lending springs back in March April 20, 2011 MORTGAGE lending bounced back in March from the previous month but is still two per cent lower than a year ago, data from the Council of Mortgage Lenders (CML) showed yesterday. Evidence of a seasonal recovery for the UK’s housing sector is emerging, as gross mortgage lending rose 21 per cent from £9.3bn in February [...]
Tesco wages war on British banks April 19, 2011 TESCO’S new chief executive yesterday set the retail giant on course for a showdown with Britain’s banks, as he made growing his financial services unit one of his top priorities. Philip Clarke, who replaced Sir Terry Leahy at the helm of Britain’s top supermarket last month, said Tesco’s bank would become a “big part” of [...]
Slow rise in mortgage lending March 29, 2011 MORTGAGE lending rose by £1.2bn last month, as the number of approvals edged up to 46,967, the Bank of England revealed yesterday. The number of mortgage approvals was up 1.2 per cent compared to the previous six month average. “The news is hardly encouraging,” responded Nida Ali of the Ernst and Young Item Club, “given [...]