Housing boom shows signs of slowing down July 9, 2014 BRITAIN’S house price boom slowed down in June, according to figures published yesterday – but strong demand is expected to keep prices rising steadily. Prices jumped 8.8 per cent across the country in the 12 months to June, Halifax said, to an average of £183,462. However, in June alone prices slid 0.6 per cent, reflecting [...]
Average London house price to hit £500k next year July 8, 2014 The average house in London is likely to cost about £500,000 in just a year’s time, according to a forecast by professional services group PwC. PwC’s latest economic forecasts, to be released today, show that the average property price in the capital is expected to reach £565,000 by the end of this decade, with its [...]
Taylor Wimpey backs stricter mortgage rules July 7, 2014 Taylor Wimpey yesterday welcomed new Bank of England rules to temper the housing market as “a positive move” as the housebuilder delivered a strong first half of the year. The group said a strengthening housing market helped sales rates and prices of its new homes come in at the top end of forecasts, while operating [...]
Bottom Line: There’s still plenty of time to build on this bull run July 7, 2014 CRITICS of the government’s Help-to-Buy programme, which is often accused of doping up already-too-high house prices, sometimes refer to it as “Help-to-Sell”. The scheme, which either backs up or even contributes to mortgages, is certainly helping housebuilders to sell a few more properties and thus bolster their earnings. Such fortunes are reflected clearly in the [...]
Watchdog may probe banks on mortgage rates July 7, 2014 BANKS that hiked the rate of their floating rate mortgages might have acted unfairly to customers, the City watchdog warned yesterday. The Financial Conduct Authority (FCA) is asking borrowers and lenders if it is fair that banks can raise the rates on loans when they are stressed. Banks gave the mortgages before the crisis and did [...]
London report: Housing data to show soaring market levelling July 6, 2014 Housing prices are likely to be in focus this week, as two surveys show prices are still rising, though the market is levelling off. The RICS survey, published today, is expected to show less growth than in past months. Barclays’ Armela Mancellari said: “We expect the overall balance to have edged down [...]
London Report: FTSE ends on a high on strong economic data July 2, 2014 Britain’s top share index hit a one-week high yesterday, with upbeat economic data from the US and China improving investor sentiment and boosting cyclical sectors such as banks and miners and carmakers. The FTSE 100 index closed 0.2 per cent firmer at 6,816.37 points, after climbing to a high of 6,829.49, the highest level since [...]
As prices pass their 2007 peak, does the housing market pose a risk to the economy? July 2, 2014 Philip Lachowycz, economist at Fathom Consulting, says Yes. The mortgage lenders are again reporting substantial increases in house prices. And this is not happening from a position where property had become cheap – far from it. The current rises are happening from a base where, relative to incomes, the level of prices was already some [...]
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 sets its sights on landlords’ buy-to-let mortgages July 1, 2014 Buy-to-let mortgages could be the next financial product to face tough new limits, the Bank of England revealed yesterday, as the restrictions announced last week only cover owner-occupier loans. A housing boom and bust could hit landlords just as it would any other home owner, risking a serious blow to banks and the financial system. [...]