House prices to surge in 2014 if Bank of England intervenes November 9, 2010 HOUSE prices are set to rise by only 2.2 per cent next year as they are squeezed by falling disposable income and higher unemployment as a result of public sector cuts introduced by last month’s comprehensive spending review, a report will say today. The latest forecast from leading economic consultancy the Centre for Economics and [...]
Market cools as property prices tumble November 4, 2010 AVERAGE property prices have fallen 1.2 per cent in the last three months, according to the latest Halifax house price index. The closely watched index from the Lloyds Banking Group-owned lender showed house prices rose 1.8 per cent in October which helped to partially reverse the 3.7 per cent decline from the previous month. But [...]
Mortgage aprrovals lowest since February October 29, 2010 Mortgage approvals came in slightly better than expected in September, but still fell to the lowest since February, Bank of England figures showed. The Bank of England said mortgage approvals numbered 47,474 in September, down from 47,498 in August. Analysts had forecast a reading of 46,000, and the equivalent measure from the British Bankers’ Association [...]
House prices fall for third consecutive month October 28, 2010 House prices fell for the third month in four in October, figures from Nationwide have shown. The average price of a property fell 0.7 per cent this month after a flat reading in September. That was almost twice the drop economists had expected and meant the three-month on three-month rate of decline accelerated to 1.5 [...]
Carpetright says 2011 will still be tough October 27, 2010 CARPETRIGHT said yesterday like-for-like sales over the last three months have fallen because of continuing tough market conditions – and warned of a difficult 2011 ahead. Group sales dropped by 5.2 per cent in the twelve weeks to 23 October compared to the previous period, with 0.5 per cent of the downturn attributable to the [...]
ANALYST VIEWS: HOW SERIOUS IS CARPETRIGHT’S FALL? October 27, 2010 KEITH BOWMAN | HARGREAVES LANSDOWN Despite clear exposure to an eventual recovery, fears for a ‘double dip’ in the housing market continue to dominate, with the current market consensus opinion denoting an out and out ‘sell’. MATTHEW MCEACHRAN | SINGER CAPITAL MARKETS Typically October is a key month for the group as consumers look to [...]
UK Mortgage approvals at ten-year low October 25, 2010 MORTGAGE lending fell to its lowest level in a decade in September, the latest figures from the British Banker’s Association (BBA) showed yesterday confirming earlier figures produced by the Council of Mortgage Lenders (CML) last week. Gross mortgage lending stood at £8bn last month, 10.8 per cent lower than a year earlier. The number of [...]
Mortgage lending remains “subdued” October 25, 2010 The latest figures from UK’s major banks have said that budget uncertainties had contributed to a subdued mortgage market. The downward trend spiral continued in September, the British Bankers’ Association (BBA) said. The number of mortgages approved for house purchases fell slightly compared with the previous month to 31,104, as low demand for new loans [...]
FTSE opens higher ahead of key data October 25, 2010 The FTSE 100 rose on opening this morning with heavyweight miners likely to be buoyed by a softer dollar after the Group of 20 major economies agreed to avoid competitive currency devaluations. The blue chip index looks set to gain 43 to 48 points, or as much as 0.8 percent, according to financial bookmakers, after [...]
West LB’s bad bank records €1bn in losses October 7, 2010 GERMANY’S first bad bank, WestLB’s EAA, posted risk provisions of €1.44bn (£1.2bn) for its 2010 fiscal year and expects more to come as its markets show little signs of recovery. EAA (Erste Abwicklungsanstalt) posted a net loss of €1.05bn in its shortened fiscal year from December 2009 to June 2010, co-head Matthias Wargers said yesterday. [...]