London property market boom loses steam as it enters the new year January 29, 2015 LONDON house prices finished 2014 growing more slowly than they had done earlier in the year, but still at rates far above the average for England and Wales. The average price of a residential property in the capital was £464,936, according to figures released yesterday by the Land Registry. The average London price was 16.3 [...]
Nationwide says price growth is easing off January 29, 2015 THE HOUSING market continued to come off the boil in January, according to a leading mortgage lender. Year-on-year price growth slowed to 6.8 per cent in January from 7.2 per cent in December, figures released yesterday by Nationwide show. It marks the fifth month in a row in which house price growth has declined. “The further moderation [...]
UK house price growth slowest since 2013 January 29, 2015 House prices in the UK have risen at the slowest pace in more than a year, according to the latest figures from building society Nationwide, a further sign that the UK housing market is cooling. Annual house price growth slowed for the fifth month straight to 6.8 per cent this month, down from 7.2 per [...]
Low interest rates and less tax to fuel home demand January 27, 2015 The mortgage market saw a slowdown at the end of 2014 but is expected to stage a rebound this year. The number of house purchase approvals was nine per cent higher in 2014 compared to 2013, according to figures released yesterday by the British Bankers’ Association (BBA). However, the value of mortgages for house purchase [...]
After the economy lost momentum in the fourth quarter of 2014, should the UK fear a slowdown? January 27, 2015 Nancy Curtin, chief investment officer of Close Brothers Asset Management, says Yes The figures for the fourth quarter point to UK growth losing pace, and we are likely to see this continue into the first half of 2015. Economic growth remains too imbalanced. While improved consumer spending is supporting a buoyant services sector, production and construction [...]
Mortgage lending drops again – but BBA sees light at the end of the tunnel January 27, 2015 Mortgage lending in the UK fell in December for the six month in a row, with gross borrowing levels 12 per cent lower than they were a year ago. Figures published by the British Bankers Association this morning show that the total figure for mortgages stood at £10bn last month. House purchase approvals dropped [...]
Standard & Poor’s partially suspended and fined £53m over “fraudulent misconduct” for mortgage-backed securities ratings January 21, 2015 Standard & Poor's has been fined nearly $80m (£53m) and suspended from rating certain kinds of mortgage-backed securities by the Securities and Exchange Commission to settle a case of “fraudulent misconduct”. In the first case of its kind, S&P has paid the SEC a $58m settlement. In addition it has paid out $19m to [...]
Barack Obama’s State of the Union address: “The shadow of crisis has passed” January 21, 2015 It was a triumphant moment for Barack Obama last night, when he stood up to tell his country "the shadow of crisis has passed". His closely-watched State of the Union address followed months of strong growth in the US economy – in stark contrast to its neighbours across the Atlantic. In a speech firmly designed [...]
Swiss franc crisis: Swiss go nuts for central London property as “safe haven effect” takes hold January 16, 2015 A fund which invests in central London property has reported an upsurge in the number of Swiss clients making enquiries. The London Central Portfolio (LCP), a residential fund and asset manager, said there had been a jump in the number of enquiries from Swiss-based investors looking to move their money into London real estate in [...]
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 [...]