House prices drop in January January 27, 2011 House prices in England and Wales fell for a seventh month in a row in January, dropping 2.2 per cent from a year earlier, property data firm Hometrack said. The monthly survey of more than 5,000 estate agents and surveyors showed prices slipped 0.5 per cent on the month, slightly more than December’s 0.4 per [...]
Property’s mixed prospects in 2011 January 26, 2011 PROPERTY price indices suggest house prices are falling again, but what are the prospects for home owners and property investors? UK house prices fell 0.9 per cent in the final three months of 2010 and were down 1.3 per cent between November and December, the Halifax index shows. Some analysts expect them to fall further, [...]
Mortgage levels fell in December January 26, 2011 LENDING remained sluggish in December, while approvals for mortgages dropped to their lowest rate since January 2009, the British Bankers’ Association said yesterday. The number of approvals from banks dropped from 29,696 in November, to 28,726 in December, the BBA said. Overall mortgage lending rose by £0.9bn, a slower rate than was measured in November [...]
Keep your loan on track January 26, 2011 IT’S a question playing on many homeowners’ minds: with interest rates expected to rise this year, should they fix their mortgage? The Bank of England left the official rate of borrowing unchanged for the 22nd consecutive month recently, but faces a dilemma given slowing economic growth and rising inflation. This week’s disappointing GDP data has [...]
Cameron needs to listen to business January 24, 2011 GOOD on Sir Richard Lambert, the usually mild-mannered outgoing boss of the CBI, for taking the government to task over its abject lack of pro-growth policies. It is a shame he didn’t say as much in such strongly worded terms a few months ago, but better late than never. Crucially, the CBI doesn’t object to [...]
Inflation expectations surge to highest ever level, poll reveals January 23, 2011 INFLATION expectations have soared to a record high this month, as rising prices add to the squeeze on household spending, a survey said today. With 89 per cent of respondents expecting the cost of their purchases to rise this year, the Markit household finance index dropped to its lowest level since April 2009. “The recent [...]
Inflated expectations are driving up sterling January 18, 2011 INFLATION is the curious way in which, over time, the same amount of money buys progressively less stuff. So it was strange to see yesterday that, as a result of higher than expected inflation in Britain, the value of sterling hit its highest level in two months. Against the dollar, the pound rose by about [...]
City workers are showing restraint when it comes to spending their annual bonus January 17, 2011 Despite reports of a growing sense of confidence in the City, with around half of the UK’s banking and financial professionals stating that they are feeling positive about the year ahead, City workers are apparently remaining much more cautious when it comes to spending. Whilst remaining outwardly bullish about their prospects for 2011 (around 41 [...]
What the other papers say this morning January 16, 2011 FINANCIAL TIMES RBS DIRECTOR TO STEP DOWN FROM BOARD One of the last Royal Bank of Scotland directors to remain on the bank’s board from the days of Sir Fred goodwin is poised to step down from his role. Colin Buchan, 56, a former UBS investment banker who until recently was chairman of RBS’s remuneration [...]
Bovis warns over weak mortgage volumes January 14, 2011 Bovis Homes expects full-year profit to come ahead of estimates on higher selling prices and plans to restart dividends, but the housebuilder warned of a subdued year ahead. “Mortgage approval volumes remain weak, with mortgage providers requiring high levels of deposit, particularly from first time buyers,” the company said in a statement. British homebuilders are [...]