London house prices skyrocket at double the national rate but sales fall January 29, 2016 London house prices rose at almost double the average rate for England and Wales last year, with the average price of property in the capital now totting up to a lofty £514,097. The Land Registry’s House Price Index in December showed that the cost of getting on to the ladder in London rose by 12.4 per [...]
UK confidence in housing market remains strong despite waning economic outlook January 29, 2016 CONFIDENCE in the UK housing market remains strong, despite growing concerns over the wider economy, according to new research today. The latest quarterly Halifax Housing Market Confidence Tracker showed that despite confidence declining steadily since May, the majority of people still believe that average UK property prices will be higher in 12 months’ time, with [...]
Lloyds’ share price still has encouraging long term outlook despite chancellor George Osborne’s delay January 28, 2016 The chancellor has announced that the planned sale of the government’s shares in Lloyds to the public won’t proceed until turbulent markets have calmed down. This must be a big disappointment to the hundreds and thousands of investors who have registered their interest in the sale. But while the whole of the banking sector has been [...]
FTSE 100 index closes up ahead of Federal Reserve statement as Sage Group and Glencore surge January 27, 2016 The FTSE 100 index closed higher on Wednesday, after having opened lower this morning ahead of the Federal Reserve's statement. The UK's blue-chip index closed 1.33 per cent up at 5,990 points. "Global equity prices continue zigzagging on a muddy route. The oil market remains in bears’ hands above $30," said Ipek Ozkardeskaya, market analyst at London Capital Group. [...]
The amount of equity withdrawn by remortgaging properties reached £837m in December 2015, while equity release lending hit £1.61bn in 2015 January 26, 2016 Equity release activity became frenzied in the later months of last year, with both equity withdrawn by remortgaging properties and total equity release lending levels reaching dizzying heights. According to figures released today by Legal Marketing Services (LMS), a total of £837m was extracted from properties through remortgaging in December 2015, up 32 per cent compared to £635m in December [...]
The Big Short interview with director Adam McKay: “Outrage with banks comes naturally… they’re street hustlers” January 22, 2016 The Oscar-nominated director of financial film The Big Short, Adam McKay, wasn't afraid of throwing the cat among the pigeons when I caught up with him yesterday. On the eve of his latest film's release he launched a stinging attack on Wall Street, branding bankers “street hustlers” and labelling the SEC’s response to the crisis “disgusting”. [...]
Mortgage lending hits post-recession high of £220bn in 2015 January 21, 2016 Mortgage lending rose by eight per cent last year compared with the year before, the Council of Mortgage Lenders (CML) said this morning. Lenders approved £19.9bn of home loans in December, taking the 2015 total to £220.3bn – the highest annual figure since 2008. December's lending figure was slightly down on November, but was 23 per [...]
Hometrack: London asking prices accelerated in December January 20, 2016 London asking prices have risen 13.8 per cent over the last 12 months, according to figures released this morning by property market analysts Hometrack. The figures showed prices in the capital were the rising at the second-fastest rate in the country. The UK-wide index, which covers homes in cities, showed a rise of 11.4 per cent [...]
So much for the winter lull: UK house price growth jumps again in November January 19, 2016 UK house prices grew 7.7 per cent in the year to November, up from seven per cent the month before, as people rushed to buy homes before interest rates rise. The east of England led the charge, with price growth of 10.2 per cent, while prices in the south east and London rose 9.8 per [...]
UK house prices: Property price growth will slow over next three years, EY Item Club predicts January 18, 2016 House price growth will slow over the next three years, according to new forecasts, as continued growth puts owning a property out of reach for many. Property prices are expected to rise by 6.5 per cent this year, new analysis by EY Item Club predicts. That growth will continue in 2017 and 2018, but at a more [...]