September 30, 2010

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Nationwide: House prices up just 0.1% in September

Permalink: Nationwide: House prices up just 0.1% in September
by Kay Mitchell

The latest house price index from the Nationwide Building Society has revealed a 0.1% rise for the month of September compared with August, when values fell by 0.8% The latest house price gain means the annual rate of house price ...

September 29, 2010

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Mortgage approvals fall to 7-month low in August

Permalink: Mortgage approvals fall to 7-month low in August
by Kay Mitchell

The Bank of England has today revealed mortgage approvals fell again in August - to a 7-month low. According to the Bank, mortgage approvals for the month fell to 47,372 from 48,346 in July - however, the figure was in ...

September 28, 2010

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Paragon to offer new buy-to-let loans

Permalink: Paragon to offer new buy-to-let loans
by Gill Montia

Paragon has re-opened for new business. The buy-to-let lender closed its doors to new borrowers in February 2008, when the credit crisis restricted its ability to borrow on the wholesale money markets. However, the group says it has arranged funding via a new ...

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Land Registry reports 0.3% rise in August house prices

Permalink: Land Registry reports 0.3% rise in August house prices
by Kay Mitchell

According to the Land Registry, house prices rose by 0.3% in August compared with July, putting the average cost of a home at £167,423 in England and Wales. It must be noted that the Land Registry compiles its data ...

September 27, 2010

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Hometrack: House prices fall for third consecutive month in September

Permalink: Hometrack: House prices fall for third consecutive month in September
by Kay Mitchell

According to housing intelligence group, Hometrack, house prices in England and Wales fell for the third consecutive month in September, due to the ongoing shortage of buyers. According to Hometrack, house prices fell by 0.4% in September to ...

September 23, 2010

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BBA reports further fall in mortgage lending

Permalink: BBA reports further fall in mortgage lending
by Kay Mitchell

The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in August. According to the BBA, mortgage approvals for the month stood at 31,767, down from 34,219 in July ...

September 22, 2010

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CML warns regulator of mortgage lending restriction proposals

Permalink: CML warns regulator of mortgage lending restriction proposals
by Kay Mitchell

The Council of Mortgage Lenders (CML) has warned that proposals by the Financial Services Authority (FSA), to encourage responsible lending, will cause house price falls. The City Watchdog has previously announced plans to restrict mortgage lending, in a bid to ...

September 21, 2010

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London’s New Bond Street is Europe’s most expensive retail location

Permalink: London’s New Bond Street is Europe’s most expensive retail location
by Kay Mitchell

A report by property firm Cushman & Wakefield has revealed New Bond Street in London is Europe’s most expensive retail location with rates soaring by 19.4% on year. Store rents grew to £536 per square foot per year, ...

September 20, 2010

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Gross mortgage lending falls again in August

Permalink: Gross mortgage lending falls again in August
by Kay Mitchell

The Council of Mortgage Lenders (CML) has today revealed gross mortgage lending fell 6% in August compared with the same month last year to £11.4 billion. The figure was also 14% lower compared with July and represented the lowest August monthly ...

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Asking prices down for 3rd straight month, say Rightmove

Permalink: Asking prices down for 3rd straight month, say Rightmove
by Kay Mitchell

It appears the housing market is headed for a double dip after property website, Rightmove, reported a further fall in asking prices in September. According to Rightmove, asking prices for residential property in England and Wales fell by 1.1% ...

September 17, 2010

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Rents reach two-year high

Permalink: Rents reach two-year high
by Kay Mitchell

According to the LSL monthly index of buy-to-let rents, average UK rents have reached a two-year high. The current economic uncertainty has meant prospective buyers are discouraged from buying and are therefore looking to rent. Furthermore, first-time buyers are struggling to get a foot on ...

September 16, 2010

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France more popular than ever Brits buying abroad

Permalink: France more popular than ever Brits buying abroad
by Gill Montia

Conti has reported that France is more popular than ever for Britons buying abroad. According to the overseas mortgage specialist, the country has taken a 43% share of its mortgage enquiries so far this year, representing a 12% rise on ...

September 14, 2010

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FSA reports fall in home repossessions

Permalink: FSA reports fall in home repossessions
by Kay Mitchell

The Financial Services Authority (FSA) has reported a fall in repossessions. According to the FSA, repossessions fell in the April to June period to a level not seen since the beginning of 2008. Lenders seized 9,978 properties in the quarterly period - a ...

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Rics: House price falls expected

Permalink: Rics: House price falls expected
by Kay Mitchell

According to the latest survey by the Royal Institution of Chartered Surveyors (Rics), house prices are expected to fall in the months ahead. The Rics said 38% of its surveyors expect house prices to fall rather than rise in the next few months ...

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UK rental market buoyant as new supply dries up

Permalink: UK rental market buoyant as new supply dries up
by Gill Montia

The lettings market remains buoyant across much of the UK, as increased tenant demand and a shortage of properties push rents higher, the Royal Institution of Chartered Surveyors (RICS) has reported. However, in its latest Residential Lettings Survey the ...

September 13, 2010

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Further 400 jobs go at Connaught

Permalink: Further 400 jobs go at Connaught
by Kay Mitchell

Administrators at crisis-torn Connaught have revealed there will be 400 more job losses, bringing the total to 1,100 since the Exeter-based company collapsed last week. At the end of last week, KPMG announced that Connaught’s social housing division had been acquired by ...

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LHA cuts too costly

Permalink: LHA cuts too costly
by Gill Montia

The Government will face costs of up to £120 million a year because of the huge rise in homelessness caused by cuts to Local Housing Allowance (LHA), Shelter has warned. From April 2011, the maximum LHA payable for each property size will receive a ...

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Mortgage lending improves in July but CML remains cautious

Permalink: Mortgage lending improves in July but CML remains cautious
by Kay Mitchell

The Council of Mortgage Lenders (CML) has today revealed mortgage lending remained weak in July. July is traditionally a strong month for mortgage lending, but the market remained “very weak” said the CML. According to the Council, 56,000 new loans ...

September 12, 2010

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Shelter exposes rogue landlord horror stories

Permalink: Shelter exposes rogue landlord horror stories
by Gill Montia

Shelter is demanding the "eviction" of rogue landlords, in response to "shocking new research". According to the charity, a minority of private landlords are responsible for widespread abuse of their tenants and the charity wants the Government to work with councils to ...

September 10, 2010

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Housebuilder Redrow returns to profit

Permalink: Housebuilder Redrow returns to profit
by Kay Mitchell

Housebuilder Redrow, which is the fifth largest housebuilder in the UK by volume, has reported it has returned to profitability. The company reported pre-tax profits and exceptionals of £700,000 in the year to the end of June - this represents its first profit ...