House price growth dips as UK housing value increases by £1.8 trillion in 10 years December 8, 2015 The value of the UK's housing stock has jumped by £1.8 trillion in the past decade, research by Halifax showed today. UK homes are now worth £5.1 trillion, a 53 per cent jump from £3.3 trillion in 2005. That's a £76,316 rise for each home in the UK. The news came as Halifax reported annual house price [...]
Bank warns looming credit boom risks housing bubble December 8, 2015 The noughties were not humanity’s greatest decade. It brought us boot cut jeans, velour tracksuits and 50 Cent – and now a report has warned that we could be heading back there, thanks in part to the Bank of England’s monetary policy committee (MPC). According to BNP Paribas Real Estate, if the MPC shies away [...]
UK housing crisis: Build to Rent investment to triple by 2020 December 5, 2015 Investment in Build to Rent will triple to £50bn by 2020, helping it swell from two to five per cent of the private rental sector, and providing minor relief to the UK's growing housing crisis. It's pertinent as the number of first time buyers and young homeowners are declining, at a time when private rental stock is [...]
UK house prices: repossessions drop by 55 per cent as north-south divide narrows December 4, 2015 Home repossessions have dropped by 55 per cent year-on-year across England & Wales, new figures released today show, thanks to the ongoing economic recovery. The gap between home repossessions in the north and south has also narrowed by 80 per cent since the recession to 1.1 per 1,000 households in the north compared 0.7 per [...]
House price growth to slow across the country in 2016 December 3, 2015 ANNUAL house price growth nationally is expected to slow to between 4 per cent and 6 per cent by the end of 2016, according to economists at the Halifax. The slowdown is being blamed on the increasing difficulty in getting on the housing ladder, as well as the looming prospect of an interest rate rise [...]
Growing personal debt is a ticking time bomb and trouble will come when rates and inflation start to creep up December 3, 2015 It’s no surprise that we’re borrowing like there’s no tomorrow; prices are low, credit is cheap and coupled with wage growth you could say there’s a feeling of positivity in the air. Make the most of this sweet spot now; we’re watching a ticking time bomb and trouble is likely to be on the horizon. [...]
Bank of England to act if needed on the buy-to-let market December 1, 2015 The Bank of England (BoE) has said it’s ready to act if it feels the booming buy-to-let mortgage market is getting out of control. Threadneedle Street’s Prudential Regulation Authority said it was reviewing banks’ lending criteria. The market for buy-to-let mortgages has ballooned 10 per cent in the first nine months of this year. Although there [...]
Mortgage lending and individual borrowing rose in October according to the latest Bank of England credit report November 30, 2015 The number of mortgages approved in October rose to 69,630, just up from September's 69,012 figure and higher than the 68,099 average over the last six months, Bank of England figures published today showed. The value of new mortgage approvals hit £12.2bn. The October total was just shy of the 70,000 figure forecast by analysts and up 17.2 per cent year-on-year, from 59,423 in October [...]
Nationwide house price index: UK housing supply at its lowest level since 1970s November 27, 2015 Annual house price growth slowed to a five-month low in November – despite the number of available homes on the market falling to a level not seen since the 1970s. Nationwide's house price index showed house prices increased 0.1 per cent in November, meaning the annual growth rate fell from 3.9 per cent a month earlier to 3.7 per cent. [...]
City A.M. Awards 2015 Business Personality of the Year winner Tony Pidgley, the co-founder of the Berkeley Group has a true rags-to-riches tale November 26, 2015 When it comes to determining the key to his success in life, Tony Pidgley puts it down to a good dose of common sense, a splash of luck and the life lesson his first lorry taught him when he was 15 and the engine blew up. His main means of earning his keep – transporting [...]