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July 31, 2008
Demand for commercial property at ten year low
Permalink: Demand for commercial property at ten year low
by Lin Freestone
The latest commercial property survey from the Royal Institution of Chartered Surveyors (RICS) shows that the level of demand in the second quarter of the year fell to the lowest level since the survey began in 1998.
The fall in ...
Rental yields stabilise at 6.4%
Permalink: Rental yields stabilise at 6.4%
by Gill Montia
Paragon Mortgages has published its June Buy-to-Let Index which shows yields remaining unchanged from May, at 6.4%.
On a regional basis, the areas achieving the highest yields in June were as follows: Wales 7.6%; the North 7.4%; North West 7.3%.
The average rent paid ...
Nationwide: House prices fall ninth consecutive month
Permalink: Nationwide: House prices fall ninth consecutive month
by Kay Murchie
The latest Nationwide survey has found that UK house prices have fallen for the ninth consecutive month. This represents the biggest annual drop since the building society commenced its survey in 1991.
According to Nationwide, house prices fell by 1.7% ...
July 30, 2008
Negative equity looms for 14% of mortgage holders
Permalink: Negative equity looms for 14% of mortgage holders
by Kay Murchie
According to Standard & Poor (S&P), if property prices continue to fall at their current pace, around 1.7 million people could be pushed into negative equity in the next 12 months.
The credit ratings agency said this represents 14% of ...
Britons investing abroad undeterred by rising airfares
Permalink: Britons investing abroad undeterred by rising airfares
by Gill Montia
New research by estate agent, Savills, and holiday let operator, Holiday-Rentals.co.uk, suggests that Britons who own property overseas are philosophical about recent rises in the cost of air travel.
Two-thirds of the 1,500 property owners surveyed said they were not questioning ...
Setback in St Modwen’s plans for £150m Liverpool regeneration project
Permalink: Setback in St Modwen’s plans for £150m Liverpool regeneration project
by Lin Freestone
Negotiations have broken down between property development company St Modwen and the supermarket chain Tesco. The plan was for Tesco to be the focal point in a 45-acre, £150m development by St Modwen in north Liverpool, which ...
July 29, 2008
Reduced buy-to-let mortgages from the Woolwich
Permalink: Reduced buy-to-let mortgages from the Woolwich
by Lin Freestone
Rates on buy-to-let deals are being cut by half a percentage point by the Woolwich, Barclays’ mortgage division.
Starting today, a new rate of 6.99% is being introduced on a five-year, fixed-rate deal from the Woolwich, down from 7.49%.
Woolwich has already ...
Abbey becomes largest mortgage lender with 35% share
Permalink: Abbey becomes largest mortgage lender with 35% share
by Lin Freestone
Partly as a result of the withdrawal of offers from the market by rival lenders, Abbey’s share of new lending rose to 35% in the three months to the end of June.
Although the Halifax is the UK's largest mortgage ...
Mortgage drought set to continue for two more years
Permalink: Mortgage drought set to continue for two more years
by Kay Murchie
An assessment of the outlook for mortgage finance has been published today by Sir James Crosby, deputy chairman of the Financial Services Authority.
Sir James, former chairman of Halifax owner HBOS, believes that the lack of mortgages for ...
Mortgage loans approvals fall to lowest level ever
Permalink: Mortgage loans approvals fall to lowest level ever
by Kay Murchie
Figures from the Bank of England today have revealed that the number of new mortgages approved for house purchases has fallen by 68.4% in the year to June - the lowest level since records began in 1993.
The ...
July 28, 2008
Record rise in price of farmland says RICS
Permalink: Record rise in price of farmland says RICS
by Lin Freestone
According to the latest market survey from the Royal Institution of Chartered Surveyors (RICS), the price of farmland has reached a record level, rising by 50% over the past year.
Arable land rose in value by 32% to £14,453 ...
Dramatic fall in half-year profits for Invista REIM
Permalink: Dramatic fall in half-year profits for Invista REIM
by Lin Freestone
Invista Real Estate Investment Management Holdings has recorded a fall in its first-half pre-tax profit on lower revenue. The company expects market conditions to deteriorate further in the troubled commercial property market.
Invista is the largest UK listed real estate ...
Eager anticipation of Treasury’s mortgage rescue plan
Permalink: Eager anticipation of Treasury’s mortgage rescue plan
by Lin Freestone
An interim report into the funding problems being experienced by UK banks is scheduled to be presented to the Treasury tomorrow by Sir James Crosby, a former chief executive of HBOS.
There is anticipation that the report will forecast that the ...
House prices expected to recover by rising 25%
Permalink: House prices expected to recover by rising 25%
by Kay Murchie
A new report by the National Housing Federation (NHF) is suggesting that average house prices in England are set to rise by 25% by 2013.
The news will no doubt be welcomed by homeowners currently in negative equity due ...
House prices fall 1% according to Land Registry
Permalink: House prices fall 1% according to Land Registry
by Kay Murchie
According to the latest figures from the Land Registry, house prices in England and Wales fell 1% between May and June.
The figures are based on completed sales and are therefore not the most recent but are the most accurate. ...
Britons affected by Spanish construction firm insolvency
Permalink: Britons affected by Spanish construction firm insolvency
by Gill Montia
Law firm DWF is urging Britons affected by the collapse of one of Spain's leading construction firm to contact the company’s administrators as soon as possible.
Martinsa-Fadesa filed for voluntary insolvency last Thursday after being unable to refinance its debt.
Hundreds of ...
July 27, 2008
Nationwide leads in mortgage market
Permalink: Nationwide leads in mortgage market
by Brian Turner
The Nationwide Building Society continues to lead competition in the mortgage markets, forcing the Halifax and Yorkshire Building Society to reduce mortgage rates last week.
The Abbey, Cheltenham & Gloucester, and Woolwich have all already reduced ...
July 25, 2008
Great Portland estates remains optimistic despite 4% fall in property values
Permalink: Great Portland estates remains optimistic despite 4% fall in property values
by Lin Freestone
Great Portland Estates, a central London property investment and development company, issued an interim trading statement this week which indicated an optimistic outlook even though the economic situation is expected to worsen during the rest of ...
BBC investigation into controversial buy-to-let property firm
Permalink: BBC investigation into controversial buy-to-let property firm
by Lin Freestone
The BBC is broadcasting a programme today which will report the findings of an investigation into buy-to-let property firm Instant Access Properties Ltd (IAP) and its sister company Inside Track Seminars Ltd, which is in administration.
IAP offers its clients what ...
July 24, 2008
Asda launches online property website
Permalink: Asda launches online property website
by Kay Murchie
A new online property portal has been launched by supermarket giant, Asda, called www.homesinstore.co.uk.
The website will allow its customers to purchase property online and will allow sellers to advertise their home for sale and rental. The cost is £35 a week, for ...
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