Halifax: Reluctant sellers push UK house price growth up again September 10, 2015 Another day, another confirmation that UK house prices are rocketing, after new figures showed prices were nine per cent higher in the three months to August than they were during the same period last year. To be fair, that was still lower than the impressive 9.6 per cent rise in June – but higher than [...]
UK house prices: Growing gulf between supply and demand is heating up the property market September 10, 2015 House prices could rocket even faster than previously forecast, as research reveals that accelerating demand for homes is coming up against a brick wall of scant supply. Prices are set to climb six per cent this year, the Royal Institution of Chartered Surveyors (RICS) said today, doubling the estimate it made at the start [...]
Building bonanza at Barratt as profits jump 45 per cent September 9, 2015 Success in the housebuilding market continues apace, after Barratt reported another jump in profits. The figures This kind of fare has become standard among housebuilders in recent years: profit before tax jumped 44.8 per cent to £565.5m in the year to the end of June, while revenues rose 19.1 per cent to £3.76bn and basic earnings per share jumped 45.8 per [...]
UK housing marktet: Record low rates spur mortgage lending climb September 9, 2015 Record low borrowing costs and competition between banks led to a rise in mortgage lending from April to June, figures released by the Bank of England and Financial Conduct Authority showed yesterday. The total value of mortgages advanced was £52.5bn over the period, a 15.1 per cent jump on the same time last year. The [...]
Best of the Brokers for 8 September 2015 September 8, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com MARKET TECH Canaccord Genuity initiated coverage on the investment vehicle with a “buy” rating. The broker said this recommendation reflects the scale of growth it sees from the firm’s real estate and e-commerce & technology businesses. It added that the group is “importantly” [...]
Cala Homes targets £1bn sales by 2020 after record profits September 7, 2015 Upmarket housebuilder Cala Group delivered a record number of house sales last year as part of a major expansion drive that will see it reach £1bn sales in the next five years. The Edinburgh-based group, which was sold by Lloyds Banking Group to Legal & General and private equity firm Patron Capital a year ago, [...]
Mortgage lending increases on low interest rates and rising UK house prices September 2, 2015 The housing market is picking up, with homeowners looking to remortgage to take advantage of low interest rates and unlock some of the climb in property prices. The number of approvals for home purchases was 68,764 in July, compared with an average of 64,186 over the past six months. Approvals for remortgages were 38,042, also [...]
High prices and rate threat lifts remortgaging August 31, 2015 MORE Brits are cashing in on the rise in the value of their property by remortgaging, according to new figures from a broker. The average remortgage loan reached a new high of £170,094 in July, the Mortgage Advice Bureau (MAB) said yesterday. The data indicate that borrowers are opting to cash in on property gains [...]
Bank of England interest rate rise threat sends first-time buyer sales to a pre-recession high August 28, 2015 The threat of a rise in borrowing costs led first-time buyers to look through increased deposit costs and indulge in a "summer of white-hot activity" with completed transactions hitting a pre-recession high. Monthly first-time buyer sales rose 4.9 per cent to 29,700 in the month to July, according to an index by estate agents Your Move and [...]
What economic crisis? UK consumer confidence jumps to 15-year high August 28, 2015 Consumer confidence has jumped back to a 15-year high in the UK, according to a widely-regarded survey published this morning. The positive numbers come on the back of upbeat data from the other side of the pond. American GDP grew at an annual pace of 3.7 per cent in the second quarter, official figures said [...]