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May 16, 2008
Humberts shares suspended on AIM
Permalink: Humberts shares suspended on AIM
by Kay Murchie
One of England’s largest chain of estate agents, Humberts, has had it shares suspended on AIM pending clarification of its financial viability.
In a statement to the Stock Exchange, the group said the request to suspend its shares was made pending clarification ...
Hips are effective according to Connells
Permalink: Hips are effective according to Connells
by Kay Murchie
Home Information Packs (Hips) were introduced to speed up the home buying and selling process as well as providing consumers with a faster and more cost effective service.
However, they have been subject to heavy criticism since they were introduced.
Hips ...
Housebuilding slumps 24%
Permalink: Housebuilding slumps 24%
by Kay Murchie
Figures from the Department for Communities and Local Government have revealed that there were 32,100 new housing starts in England in the first quarter of 2008.
This figure was 21% lower compared to the last quarter of 2007 and 24% down compared with 12 ...
May 15, 2008
Last month’s interest rate cut still not passed on by some lenders
Permalink: Last month’s interest rate cut still not passed on by some lenders
by Kay Murchie
According to Moneyfacts, the financial comparison website, 24 lenders are yet to pass on last month’s interest rate cut to customers. This figure represents 25% of the market.
Moneyfacts said, of those lenders that have passed ...
Government take action on unsold homes
Permalink: Government take action on unsold homes
by Kay Murchie
Prime Minister, Gordon Brown, has announced a plan to buy unsold homes to help low-income families into good properties.
A fund of £200 million will buy newly built properties that developers have been unable to sell and they will be offered ...
Barratt Homes adds to property gloom
Permalink: Barratt Homes adds to property gloom
by Kay Murchie
Barratt Homes, Britain's second largest housebuilder, has reported a 33% decline in the amount of sales agreed each week, compared with last year and added that the property market has deteriorated considerably.
The company blamed the credit squeeze, which in turn ...
May 14, 2008
OFT investigates sale-and-rent-back
Permalink: OFT investigates sale-and-rent-back
by Gill Montia
The Office of Fair Trading (OFT) is undertaking a market study of the fast-growing sale-and-rent-back sector, amid concerns that vulnerable homeowners are being exploited.
Sale-and-rent-back firms buy property at a discount and in return give the previous owner the option to remain in the house ...
Housing minister reveals fears over property prices
Permalink: Housing minister reveals fears over property prices
by Kay Murchie
Caroline Flint, housing minister, has revealed her fears about UK property prices. Ms Flint’s ‘leaked’ document revealed that house prices would fall by 5% to 10% ‘at best’ this year and that ‘we can’t know how bad it will get‘. ...
Housebuilding companies add to housing gloom
Permalink: Housebuilding companies add to housing gloom
by Kay Murchie
Redrow and Galliford Try have warned of significant falls in sales over recent weeks, adding to the gloom in the property industry.
Redrow’s chief executive, Neil Fitzsimmons, said trading conditions were now even worse than he anticipated back in February as mortgage ...
May 13, 2008
CML: Mortgage lending falls to lowest level for 30 years
Permalink: CML: Mortgage lending falls to lowest level for 30 years
by Kay Murchie
According to the Council of Mortgage Lenders (CML), mortgage lending to first-time buyers and existing home owners fell during the first 3 months of 2008 to its lowest level for 30 years.
Furthermore, the CML is predicting that ...
Rics data reveals that housing market continues to slow
Permalink: Rics data reveals that housing market continues to slow
by Kay Murchie
Figures from the Royal Institution of Chartered Surveyors (Rics) have shown that the proportion of UK surveyors reporting falls in house prices has risen for the ninth consecutive month.
The Rics survey, which shows price falls more widespread ...
Croatia’s long-term investment potential
Permalink: Croatia’s long-term investment potential
by Gill Montia
Croatia is being recommended as a possible investment opportunity by Amberlamb, the overseas property analyst.
The eastern European country has much to offer in terms of its dramatic and beautiful landscape and while real estate prices have been rising sharply, Croatia remains affordable to ...
May 12, 2008
Britons want fall in property prices
Permalink: Britons want fall in property prices
by Kay Murchie
A study has established that the majority of Britons are hoping that property prices will fall rather than increase.
A survey commissioned by the BBC discovered that 28% are wishing for a fall in property prices, 22% are hoping for an increase, ...
Landlords evade Tenant Deposit scheme
Permalink: Landlords evade Tenant Deposit scheme
by Gill Montia
High mortgage costs and low confidence in the UK property market are persuading large numbers of potential first-time buyers to sit out the credit crisis in rented accommodation.
At the same time, two leading charities have raised concerns about landlords who are choosing ...
May 11, 2008
Garden grabbing on the increase in London
Permalink: Garden grabbing on the increase in London
by Kay Murchie
The number of homes built on gardens in London has doubled in a decade.
Garden grabbing has increased with over 30% of new homes being built on land that used to be a garden.
Government figures show that over ...
May 9, 2008
Portugal gains as South of France investors deterred by euro
Permalink: Portugal gains as South of France investors deterred by euro
by Gill Montia
Currency brokerage, FC Exchange, has reported that the South of France is losing its attraction for some wealthy UK property buyers.
The problem rests with the historically high level of the euro against sterling, making France's Mediterranean cost ...
Homeowners facing court action increases 16%
Permalink: Homeowners facing court action increases 16%
by Kay Murchie
Figures from the Ministry of Justice show that the number of homeowners facing court action has risen steeply.
The number of mortgage possession claims (the first stage of the repossession process) increased 16% in the first 3 months of this year.
The ...
Last phase of Hips delayed
Permalink: Last phase of Hips delayed
by Kay Murchie
The final phase of Home Information Packs (Hips) has been delayed by the Government until the end of the year.
The plan was for the final phase to be implemented on 1 June but this now means that homeowners in England and Wales ...
Joint venture allows automated system for producing Hips
Permalink: Joint venture allows automated system for producing Hips
by Kay Murchie
Hammonds Direct, a provider of conveyancing services, has teamed up with Skywire Software and has implemented a new automated system for producing Home Information Packs (Hips).
The new system uses Documanage (the robust workflow and content management component of Docuflex) ...
Biggest victim of housing slowdown will be sellers of £1m homes
Permalink: Biggest victim of housing slowdown will be sellers of £1m homes
by Kay Murchie
According to Hamptons estate agents, sellers of £1 million homes will suffer during the slump in the UK property market.
Since September 2007, their value has fallen by up to 15%, said Hamptons. In comparison, the average ...
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