UK house prices increased by 0.6% in November and were 6.5% higher than November 2012, according to the latest Nationwide Building Society Monthly House Price Index.
Robert Gardner, Nationwide’s Chief Economist, said: “UK house prices rose by 0.6% in November taking the annual rate of increase to 6.5% – the strongest pace since July 2010, though prices are still around 6% below the all-time high recorded in late 2007. Continue reading
Building societies and other mutual lenders continue to be the main growth driver in the UK mortgage market with net lending of £1.4billion in October compared to net lending by all other lenders of £0.7billion.
Mutual lenders continue to play an instrumental part in helping first time buyers get on to the property ladder with almost a third of all loans advanced to this group of buyers. Continue reading
As the number of so-called “accidental landlords” remains high, AXA Business Insurance warns that many of them are simply not fulfilling their legal duties to maintain their rental properties and as a result are putting their tenants in potential danger and themselves at financial risk.
Key findings of research carried out among accidental landlords, ie) those who did not originally buy with the intention of renting out their property, or who are forced to continue renting out because they cannot sell at present, reveals: Continue reading
British households have underestimated their main household bills – council tax, gas and electricity – by an average of £467 in the past year, according to new research from Santander Current Accounts.
The analysis suggests that the millions of households struggling to cover their household bills due to spiralling prices are compounding the issue because they are out of touch with current utility costs. Continue reading
Commercial real estate investors are showing greater appetite for risk in Europe as the overall market continues to grow and the recovery in both Ireland and Spain gathers pace, according to the latest data from global property advisor CBRE.
The trend of increasing commercial real estate investment that has been emerging in Europe over the course of this year continued in Q3 2013. Continue reading
Landlord Assist is urging tenants to be careful with their festive spending to ensure they have enough money left to maintain their rent payments.
The nationwide tenant referencing and rent collection company says that rental arrears commonly peak in the months before and after Christmas as many tenants are tempted to overstretch their budget during the festive period and are left picking up the bill in the New Year. Continue reading
Housing Minister Kris Hopkins has hailed the impact of Help to Buy for delivering a surge of business to the construction sector.
Visiting the brand new Chesterton brick factory in Newcastle-under-Lyme, which has created 51 jobs, Mr Hopkins said the impact of the scheme was keeping kilns firing over Christmas for the first time since 2007. Continue reading
Buy to let lending will reach £25 billion by the end of 2014, a 25% increase on lending in 2013 according to forecasts by mortgage broker Mortgages for Business.
Lending to buy to let investors is now 135% higher than the trough in 2009 (£8.5 billion) but remains someway below the 2007 peak of £45 billion. Continue reading
Average UK house prices have risen to £209,923, up 3% on month and 11% annually according to the November 2013 National Housing Market Index from Sequence.
Sales transactions increased by 4% in October, up 33% annually, a three year high whilst London prices hit a new high of £404,199, up 4% on month and 10% annually. Continue reading
Mortgage lending in London in the third quarter of 2013 followed a similar upward trend to the rest of the UK, new data from CML shows.
Strong owner occupied house purchase activity was seen in London in all sectors – first-time buyers, home movers and re-mortgagors. Continue reading