October 9, 2008
Yesterday, the housing market received some long-awaited good news following the Bank of England’s decision to cut interest rates by half a percentage point.
However, the Halifax has today reported that UK house prices experienced a fall of 1.3% in September, ...
Halifax: house prices fall 1.3% in September
Permalink: Halifax: house prices fall 1.3% in September
by Kay Murchie
October 2, 2008
According to the Nationwide, UK house prices fell 1.7% last month while an annual drop of 12.4% was recorded, which represents the largest annual fall since records began.
The building society said the cost of an average UK home is ...
Nationwide: House prices fall for eleventh consecutive month
Permalink: Nationwide: House prices fall for eleventh consecutive month
by Kay Murchie
September 28, 2008
According to the Royal Institution of Chartered Surveyors (Rics), properties throughout the UK are selling at well below the asking price.
As the property market deteriorates, vendors are accepting offers, on average, 9% below their advertised price, in order to ...
Rics: Gap widening between asking and selling price
Permalink: Rics: Gap widening between asking and selling price
by Kay Murchie
September 26, 2008
According to the latest figures from the Land Registry, house prices are falling throughout England and Wales for the first time ever.
Annual house prices in England and Wales fell by 4.6% in August to prices last seen in spring ...
Land Registry: All regions experiencing house price falls
Permalink: Land Registry: All regions experiencing house price falls
by Kay Murchie
September 24, 2008
Figures released from HM Revenue & Customs have revealed that the amount of homes sold last month plummeted by 60% compared with a year earlier.
The official figures established that 62,000 homes were sold in August compared with 140,000 in August 2007.
The figure ...
House sales plummet 60% year-on-year
Permalink: House sales plummet 60% year-on-year
by Kay Murchie
September 22, 2008
According to Rightmove, the property website, home sellers are disappearing from the property market after the organisation reported a further 1% fall in the average asking price in September.
While the fall in the average asking price for September is ...
Sellers flee market as asking price falls
Permalink: Sellers flee market as asking price falls
by Kay Murchie
September 21, 2008
Auction specialist, the Essential Information Group (EIG), has revealed that auctioneers are forcing sellers to slash their prices.
The news will no doubt be welcomed by first-time buyers looking for a bargain in the wake of falling property ...
Prospective buyers to benefit as sellers cut prices at auction
Permalink: Prospective buyers to benefit as sellers cut prices at auction
by Kay Murchie
September 16, 2008
The slump in the housing market has been confirmed today after the Government's own house price index revealed that prices in July fell for the ninth consecutive month.
The index, which is published by the Department of Communities and Local Government (DCLG), established ...
DCLG confirms house price falls
Permalink: DCLG confirms house price falls
by Kay Murchie
September 11, 2008
The Royal Institution of Chartered Surveyors has reported that house sales continued to fall during August, and are at their lowest level since its monthly survey started 30 years ago in 1978.
The holiday month of August ...
Lowest house prices for 30 years according to Rics
Permalink: Lowest house prices for 30 years according to Rics
by Lin Freestone
September 9, 2008
Estate agents are reporting that gazundering is affecting half of all sales in some areas of the UK.
The practice of buyers dropping their offer price just before the point of exchange is now becoming routine in the UK property market.
First experienced in ...
Re-emergence of gazundering
Permalink: Re-emergence of gazundering
by Lin Freestone
September 4, 2008
Figures have revealed that half the properties for sale in London have been on the market for over three months.
Vendors are holding out for the right price while buyers are struggling to obtain a mortgage and are waiting ...
London properties taking more than 3 months to sell
Permalink: London properties taking more than 3 months to sell
by Kay Murchie
House prices experience first double digit fall since 1983
Permalink: House prices experience first double digit fall since 1983
by Kay Murchie
September 2, 2008
According to the latest house price index from Hometrack, UK house prices have fallen for the eleventh month in a row.
The housing intelligence company said annual falls now total 5.3% - this represents the lowest level since the survey ...
Hometrack: Property prices fall for eleventh consecutive month
Permalink: Hometrack: Property prices fall for eleventh consecutive month
by Kay Murchie
September 1, 2008
The Royal Institution of Chartered Surveyors (Rics) is calling on the Government to take the necessary steps to kick-start the housing market.
The plea comes as the organisation revealed today that housing sales have slowed to their worst level ...
Rics calling for action to kick-start housing market
Permalink: Rics calling for action to kick-start housing market
by Kay Murchie
August 28, 2008
Nationwide is the first lender to publish figures for the UK's housing market in August.
The building society has reported a 1.9% drop in prices during the month, taking the annual fall to 10.5%.
The average price of a home now stands at £164,654, or ...
House prices down 10.5%
Permalink: House prices down 10.5%
by Kay Murchie
August 27, 2008
According to Lurot Brand estate agents, high-end property in London is still booming.
Whilst property prices continue to fall throughout the rest of the country, including Central London, houses at the top end of the market in London are holding their ...
High end property still booming in London
Permalink: High end property still booming in London
by Kay Murchie
August 21, 2008
As the housing slowdown continues, a report from the Bank of England has revealed that buyers are asking for discounts of 20% off the asking price of a property.
The report also discovered that an increasing number of buyers who have ordered homes ...
Homebuyers demanding discount on properties
Permalink: Homebuyers demanding discount on properties
by Kay Murchie
August 19, 2008
According to Wolsey Securities, the housebuilder finance specialist, housing transaction levels in the UK have fallen to dangerously low levels and are set to fall 60% below the worst period of the early 1990s.
According to Mike Ratcliffe, chief ...
Wolsey: Housing transaction levels fall to dangerously low levels
Permalink: Wolsey: Housing transaction levels fall to dangerously low levels
by Kay Murchie
UK lending to fall by 20%
Permalink: UK lending to fall by 20%
by Kay Murchie
Rics expects oversupply to hit rents
Permalink: Rics expects oversupply to hit rents
by Gill Montia