In graphs: UK house prices rise just 0.1 per cent in July July 31, 2014 First it was the Land Registry telling us and now it's Nationwide: the upward spiral of house prices is coming to an end, at least for now. The latest figures from Nationwide show that the average house price in the UK rose by just 0.1 per cent, below expectations of a 0.5 per cent increase [...]
In graphs: London house prices no longer the fastest growing in the UK July 28, 2014 The Land Registry has released new data on house prices in England and Wales and the figures show the market is cooling. The average across England and Wales shows that prices are stagnant – showing no change at all. The average selling price for a house in England and Wales during June was £172,011: a zero per [...]
London house prices: Growth slumps July 25, 2014 The boom might be ending: London House Prices have stagnated in July, recording their first almost growth-free month since December 2012. According to data from Hometrack – which is a survey rather than indexed data – prices in the capital were unchanged at zero per cent for July, down from 0.5 per cent in June and 0.6 per cent [...]
Interest rate hikes risk a household debt tragedy if we don’t act now July 23, 2014 Beware the economist bearing forecasts. The only thing that’s ever certain about economic predictions is that they’ll turn out to be wrong. But this one’s nailed on: interest rates are going to rise. Hardly the riskiest punt – the current emergency base rate of 0.5 per cent can’t be sustained forever and, as yesterday’s Monetary [...]
Nationwide sets mortgage cap and tough new stress test for home buyers July 22, 2014 Nationwide has announced it is capping all new mortgages at 4.75 times the income of the borrower, and setting a tough new stress test to ward off concerns over interest rate rises. The bank will impose a new 6.99 per cent stress test, an increase on the existing rate, although a spokesperson would not reveal [...]
What the other papers say this morning – 02 July 2014 July 1, 2014 FINANCIAL TIMES Facebook faces experiment probe A UK data regulator is investigating whether Facebook broke data protection laws when it allowed researchers to conduct a psychological experiment on users of the social network. The Information Commissioner’s Office said it was probing the experiment and planned to ask Facebook questions after widespread outrage when it was [...]
Bank of England imposes limits on high loan-to-income mortgages June 26, 2014 The Bank of England has introduced new mortgage controls, in an attempt to contain possible risks to the UK's financial system. New limits will apply from 1 October, and will see that no more than 15 per cent of mortgages issued should exceed a loan-to-income ratio of 4.5. Currently only 11 per cent of UK [...]
British homes gained £7,000 in value in May June 5, 2014 THE UPSWING in house prices shows little sign of slowing according to the Halifax, with a typical house adding 8.7 per cent to its value in the period between May 2013 and last month – and gaining around £7,000 in the last month alone. The Halifax index suggests that UK house prices are now back to [...]
House prices rise five times faster than expected June 5, 2014 House prices rose by 3.9 per cent in May, according to data from Halifax. Analysts had been expecting prices to rise by just 0.7 per cent this month. IHS Global Insight's Howard Archer says the increase "is a real bolt from the blue and at face value unsettling for policymakers." Values in the three months [...]
Queen denies housing bubble exists June 4, 2014 There is no housing bubble, we are all safe from the spectre of another boom and bust. Or so says the Queen’s speech and the accompanying notes the government published today. “My ministers will continue to promote the Help to Buy and Right to Buy schemes to support home ownership,” she said this [...]