House prices were up 0.8% in April – the first time prices have crept above zero in 2011 and the highest monthly growth since January 2010, according to the Land Registry.
Year-on-year, house prices are down 1.3%, but even this is a slowdown on last month’s figure.
The Land Registry statistics underwrite those from other house price surveys that report the market is stabilising. Continue reading Property prices finally seem to have hit the bottom
Property prices are unlikely to bounce back strongly regardless of how the economy improves over the rest of the year, predicts mortgage lender Nationwide.
The latest survey from the building society shows house prices increased by 0.3% from April to May, but the average home is worth around 1.2% less than a year ago at £167,208. Continue reading Nationwide confirms lifeless housing market
The Mortgage Works (TMW) has cut interest rates across some buy to let mortgages and launched a new fixed rate deal.
Rates are down by 0.5% on mortgages for first landlords, let to buy borrowers and those offering free valuations and legal fees.
The new fixed rate is 4.99% at 50% loan-to-value over five years with a 3.5% arrangement fee. Continue reading Buy to let mortgage rates cut by TMW
The property market looks to have settled as house sales and mortgage lending seem to follow trends set over the past few months.
Estate agents sold an average eight homes a branch in April – the same as February and March – says the National Association of Estate Agents (NAEA).
A lack of mortgage funding is restricting house sales, reports the Royal Institution of Chartered Surveyors (RICS), they also say house sales and prices will stay flat until banks and building societies release more cash, especially to first time buyers. Continue reading Sluggish housing market flatlines for another month
Mortgage lending fell again last month – down 14% from March, according to the Council of Mortgage Lenders.
The total of new mortgages fell from £11.35 billion in March to £9.8 billion in April.
The CML, the industry voice of all the UK’s major bank and building society lenders, predicts little change in interest rates or levels of lending for the remainder of the year. Continue reading Mortgage lending slumps by 14 percent
Thousands of landlords have been left out of pocket with worthless contracts as emergency repair firm Homecall+ has collapsed.
Homecall+ appears to have continued taking on new business since December 2010 without the permission of regulator the Financial Services Authority (FSA), which failed to publicise a warning about the firm despite highlighting concerns. Continue reading Landlords owed cash as repairs firm goes bust
Many believe property is still priced too high – but only one in four believe prices will fall much in the coming year, a survey claims.
Around 40% of 26,000 people asked about the housing market by web portal Rightmove predict prices will not change much in the next 12 months – and the answer has stayed the same for seven quarters in a row. Continue reading Homes are still too expensive, even with falling prices
Due to low mortgage interest rates, buying a home is becoming more affordable than renting.
The monthly cost of buying a three-bed home is £608, £98 lower than renting the same property, according to a study by The Halifax.
Continue reading Buying a home can save £100 on renting it
Estate agents have more houses to sell than they have had available for more than eight months.
Firms across the country are reporting a surge of homeowners wanting to sell – but homes are sticking on the market because they are reluctant to decrease selling prices and buyers are still finding mortgages hard to find. Continue reading More sellers but same old housing market problems hit sales
More stubborn sellers with luxury homes who refuse to drop their house prices are becoming reluctant landlords, according to letting agents.
Their reluctance to sell is pushing up the average value of a buy to let property. Continue reading Stubborn sellers let luxury homes rather than drop prices