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Mortgage approvals reach 71 month high

Mortgage approvals for house purchases went up for the sixth successive month to reach a 71-month high of 71,638 in December, according to the Bank of England. They increased from 70,820 in November 2013 and from a calendar-year low of 52,066 in February and went up by 29.3 per cent from last December when the figure was 55,413 but they are still around 30 per cent below ...

30th Jan 2014

House prices up by 0.7 per cent in January

House prices in the UK went up by 0.7 per cent in January and are 8.8 per cent higher than in January 2013, according to the latest Nationwide Building Society house price index (HPI). It means that the average UK property is now worth £176,491 and prices are just four per cent below their 2007 peak after January recorded the 13th successive month of house price ...

29th Jan 2014

Property news archive

FMB reports slowdown in house building

Building of residential homes slowed in the last three months of 2013, according to the latest survey from the Federation of Master Builders (FMB). Its State of Trade survey found that the growth in new house building slowed in both public and private sectors, adding to concerns that the number of homes being built is failing to keep pace with demand. The survey found that ...

27th Jan 2014

Carney says bank rate to remain low

Interest rates in the UK are likely to stay “well below historical norms” in the medium term even though the economy is recovering strongly, according to the governor of the Bank of England, Mark Carney. Mr Carney, speaking at the World Economic Forum in Davos today, said that the depth of the hangover from the 2008-09 financial crisis means the central bank ...

24th Jan 2014

London dominates UK burglary hotspots

A dozen of the UK’s top 20 burglary hotspots over the 12 months to the end of November 2013 are in London. The M21 postcode in Manchester is the area that is most likely to have a burglary insurance claim, according to a survey from MoneySuperMarket. It has a rate of 45.2 burglary claims per 1,000 households in an area that includes Chorlton-cum-Hardy and Barlow Moor ...

24th Jan 2014

How to minimise the impact of flooding

If your home has been affected by flooding in recent weeks there is plenty of help available from insurance companies and tips to help you prepare your home, repair any existing damage and reduce the risk of future problems. Halifax Insurance reported a 300 per cent increase in flood related calls during December 2013 with the value of the average flood claim reaching ...

23rd Jan 2014

Young new homeowners plan to use Help to Buy

Almost half of potential new property owners this year aged under 40 are planning to use the Help to Buy scheme to help them realise their dream of home ownership, according to research by Experian. Its report found that 39 per cent of people planning to buy their first home aged between 20 and 40 will apply to use the scheme. More men than women plan to use the scheme, 43 ...

23rd Jan 2014

Downturn increases number of young adults living at home

Over a quarter of young adults are unable to afford to live independently because of rising property prices, higher rents and falling real incomes, according to new data published by the Office for National Statistics (ONS). The ONS said 26 per cent of young adults are still living at home, a rise of 25 per cent since it first started collecting the data on this issue in ...

22nd Jan 2014

Bank of England reports further rise in mortgage approvals

Mortgage lending increased in the three months to November 2013, according to the latest Bank of England Trends in Lending survey. The Bank of England reports that mortgage approvals for house purchases rose to a 70-month high of 70,758 in November from 68,029 in October, 67,118 in September and a five-month low of 52,054 in February. Mortgage approvals were up 32.6 per ...

21st Jan 2014

Highest quarterly mortgage lending figure for over five years

Gross mortgage lending reached £17 billion in December 2013, the same figures as in November but 49 per cent higher than in December 2012, according to the Council of Mortgage Lenders (CML). This is the highest quarterly lending total for over five years, since the third quarter in 2008 and provides further evidence that the property market is strengthening helped by ...

21st Jan 2014

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