Scant supply of homes pushes prices higher March 5, 2015 RISING incomes, stamp duty changes and a supply shortage are putting upward pressure on house prices, new figures show. The average house price rose 8.3 per cent in February compared to February 2014, according to data released yesterday by mortgage lender Halifax. It marks a slight slowdown in growth from the 8.5 per cent year-on-year [...]
HSBC “not protected” from criminal investigation by DoJ money laundering deal, says prospective attorney general Loretta Lynch February 11, 2015 HSBC could face prosecution by the US's Department of Justice, as it comes under renewed pressure over the actions of its Swiss subsidiary. Loretta Lynch, Barack Obama's nominee for attorney general, was part of a team that secured nearly $2bn (£1.3bn) from HSBC over charges that it refused to prevent money laundering by drug [...]
When a currency ceiling’s broken January 15, 2015 The Swiss policy U-turn spooked markets – Chris Papadopoullos explains the change WHAT is an exchange rate cap? Foreign currencies can be bought or sold and have a price just like any other good such as a loaf of bread or a newspaper. The exchange rate can be thought of as the price of one [...]
UK house prices: Mild respite for home buyers as market cools January 8, 2015 House price growth continued to slow in December, but still remained at elevated levels. The climb in house prices was 7.8 per cent year-on-year in December, figures released yesterday by Halifax revealed. It marks a cooling from the peak of the recent boom that, according to Halifax’s figures, saw prices rise 10.2 per cent year-on-year [...]
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 [...]
Home loan rates set to drop more as HSBC introduces record low mortgage of 0.99pc November 19, 2014 Mortgage rates are poised to break new records and edge even further down. HSBC recently made headlines by introducing a record low mortgage rate of 0.99 per cent, with economists from the bank predicting policy rates would stay at their all-time lows of 0.5 per cent until at least 2016. It looks unlikely to end [...]
UK house prices rise 0.5 per cent in October, but longer-term trend is slowing October 30, 2014 Are house prices rocketing or is their growth slowing? It's getting confusing – according to Nationwide, the unpredictable UK housing market rose in October, with prices up 0.5 per cent month on month, after they fell 0.1 per cent in September. But the annual figure, a more reliable measure, slowed to nine per cent. As [...]
Put your house on it …price boom ends October 8, 2014 HOUSE price growth slowed in September, an influential report from Halifax showed yesterday, adding to evidence that activity in the UK’s rampant property market was moderating. Prices rose 0.6 per cent last month and 9.6 per cent in the past year. But this still-substantial growth marks a continued slowdown from the annual growth of 10.2 [...]
Property in London: Is it a safe asset? October 7, 2014 Base rate hikes and a strong pound will dent prices, says Yogi Dewan THE EASY money in property markets was made a long time ago. That said, real estate remains the ultimate safe haven for many investors, as they consider it to be a better alternative to investing in global equities, government bonds or other [...]
Will the Bank’s new powers to intervene in the housing market help prevent boom and bust? October 2, 2014 Rob Wood, chief UK economist at Berenberg Bank, says Yes. The Bank of England has a powerful set of weapons in its armoury to smooth out the cycles in the housing market. It can restrict the amount someone can borrow relative to their income, and the Bank has now asked formally for new powers to [...]