First-time buyer numbers increased in December, according to the Council of Mortgage Lenders (CML). During the month, there were 18,700 loans advanced to first-time buyers, with the figure up 7% from November. CML data also show a 3% rise in the number of properties purchased below the stamp duty concession, which leaves first-time buyers free [...]
December
Mortgage lending rallies in December
Gross mortgage lending of £9 billion in December was at its strongest for the whole of last year, according to the British Bankers’ Association, with the total up 12% on the same period of 2010. However, repayments by homeowners remained high and net mortgage lending (gross lending with repayments and redemptions stripped out) stood at [...]
Mortgage lending rallies in December
Gross mortgage lending of £9 billion in December was at its strongest for the whole of last year, according to the British Bankers’ Association, with the total up 12% on the same period of 2010. However, repayments by homeowners remained high and net mortgage lending (gross lending with repayments and redemptions stripped out) stood at [...]
CML: mortgage funding prospects “uncertain”
Gross mortgage lending in December stood at an estimated £11.7 billion, according to the Council of Mortgage Lenders (CML). The total falls 12% short of the £13.2 billion recorded in November but is up 12% year-on-year. In fact, December was the fifth month in a row to show annual growth in mortgage lending, with 2011′s [...]
Rents rise 4% over 2011
Monthly rents across England and Wales fell for the second consecutive month in December, showing a seasonal dip of 0.8% to an average £711, according to the latest Buy-to-Let Index from LSL Property Services. Seven out of nine regions saw falls, with the biggest declines in the South East and North East (-1.9% and -1.4% [...]
House sales steady but prices fall
UK house sales remained steady in December, despite a rise in the amount of new stock coming to market and no signs of a revival in mortgage lending. According to the latest housing market survey from the Royal Institution of Chartered Surveyors (RICS), the average number of completed sales per respondent stood at 15.2 in [...]
2011 shaves 1.3% off house prices
House prices in the final quarter of 2011 were 0.1% lower than in the previous quarter, according to Halifax. The value of the typical home slipped 0.9% between November and December, to £160,063, but modest increases earlier in the year meant prices ended 2011 down only 1.3%, having recovered from an average annual loss 4.2% [...]
2011 shaves 1.3% off house prices
House prices in the final quarter of 2011 were 0.1% lower than in the previous quarter, according to Halifax. The value of the typical home slipped 0.9% between November and December, to £160,063, but modest increases earlier in the year meant prices ended 2011 down only 1.3%, having recovered from an average annual loss of [...]
Mortgage lending stabilises in 2010
Mortgage lending stabilised in 2010 after “very sharp” falls in 2008 and 2009, the Council of Mortgage Lenders (CML) has reported.
Over the whole of last year, there were 529,300 loans advanced for house purchase (worth £77.1 billion) up 3% by volume and 11% by value on a year earlier.
Loans for remortgage were at a [...]
New mortgage lending shrinks
New mortgage lending shrank in December, by £0.3 billion, compared to a rise £0.5 billion in November and a previous six-month average of plus £0.6 billion, according to Bank of England figures.
The number of loans approved for house purchase declined to 42,563, down from 47,287 in November, and compared with a previous six-month average [...]
Official: house prices up 1.5% in 2010
The Land Registry’s latest House Price Index shows the average price of a home in England and Wales up 1.5% over the whole of 2010, although December marked the seventh consecutive month in which annual growth slowed.
The month saw a negative change of -0.2%, with the South West the region with the most significant fall, [...]
Mortgage approvals for house purchases slip 10%
For 2010 as a whole, house purchase mortgage approvals by the UK’s main High Street banks were down 10% on a year earlier, to fewer than 400,000, according to the British Bankers’ Association.
While the average value of house purchase approval fell slightly in December, to £143,300, the figure remained 1.6% higher than a year earlier.
Numbers [...]
Tenant arrears rise as rent increases loom
The UK’s private rental sector saw tenant arrears rise to almost 12% of all private rent in December, up 2% compared with a month earlier, according to the latest survey from property group, LSL.
Total arrears, estimated at £276 million, were at their highest since December 2009, with rising unemployment likely to drive the figure into [...]
Mortgage lending at its lowest since 2000
Gross mortgage lending fell 6% in December, compared with a month earlier, to the lowest level recorded since 2000.
According to the Council of Mortgage Lenders (CML), the £11 billion total also reflects an annual decline of 18%, although comparisons are distorted by the ending of the 2009 stamp duty holiday.
For 2010 as a whole, lending [...]
UK house sales stabilise but outlook “mixed”
UK house sales stabilised at the end of 2010, but the outlook for the property market remains mixed, says the latest housing market survey from the Royal Institution of Chartered Surveyors (RICS).
In the three months to December, the average number of completed sales per surveyor stood at 15.2 with transactions highest in the East Midlands [...]
Annual house price growth below inflation
Average house prices in England and Wales recorded a marginal fall of 0.2% in December, to £222,827, according to the LSL/Acadametrics House Price Index.
Over the whole of 2010, house price growth stood at 2.9%, compared to 5.3% in 2009.
However, regional disparities are widening, with annual growth significantly stronger in traditionally high-value areas such as London [...]
LTVs ease for wealthier homebuyers
In December, the average loan-to-value ratio offered by the UK’s mortgage lenders increased by just over one percentage point, to 58.9%, the highest level in two years.
According to research from chartered surveyors, e.surv, part of the LSL Property group, the improvement was driven by those buying homes worth over £500,000.
While the volume of mortgages approved [...]
Halifax: house prices end 2010 down 1.6%
UK house prices fell 0.9% during the three months to December, compared with the previous quarter, and were down 1.6% on an annual basis, according to Halifax.
At £163,435, the value of the average home actually lost 3.4% compared with December 2009, although the lender points out that its quarterly figures provide a better picture of [...]
December housing market activity improves
The number of homes sold in the UK in December was at its highest for three years, according to the latest property activity index from Agency Express.
The firm, which claims to be the UK’s biggest “For Sale” board contractor, reported a 26.7% dip compared to November, reflecting seasonal trends, but house sales were up 8.2% [...]
Hometrack: house prices down 1.6% in 2010
House prices in England and Wales fell by 0.4% during December, with 36% of postcodes recording declining prices, according to Hometrack.
Overall, the value of the average home ended 2010 down 1.6%, with 71% of the country seeing prices dip on an annual basis.
However, across 15% of postcodes (notably London and the South East) prices [...]
Nationwide: “anything is possible” as house prices gain 0.4%
UK house prices rose by 0.4% in December, having recorded declines in the previous two months, according to Nationwide’s latest house price index.
This month’s modest rise means that the value of the typical home ends 2010 with an “unremarkable” gain of 0.4%, as most price increases from the first half of the year were reversed [...]
Rightmove: December asking prices down 3%
House sellers coming to market dropped their asking prices by 3% in December, to an average £222,410, according to Rightmove’s latest house price index.
Falls in asking prices have been recorded in five of the last six months, leaving the typical vendor’s ambitions a mere 0.4% up on December 2009, and the property portal expects the [...]
