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The Government is planning an overhaul of council taxes to fund the building of new homes for first time buyers and families. Grant Shapps, the Housing Minister said that he will reward local authorities that give planning [...] House prices in England and Wales are continuing to rise strongly, according to the latest figures issued by the Land Registry.Prices in April rose by another 0.2%, pushing up the annual rate of increase to 8.5%. This was the fastest rate of growth since September 2007. Meanwhile, the number of mortgage deals on offer has risen [...] The total amount of money lent in new mortgages fell back in April the Council of Mortgage Lenders (CML) said to £10.2bn.That was 12% less than in March and was the lowest figure for any April since the year 2000. The subdued nature of the property market was highlighted by figures from HM Revenue & Customs [...] The total worth of UK households’ property, savings and investments, was £6.3 trillion at the end of 2009. It gives an average value per household of £237,000, three times the £73,000 in 1959 (at today’s prices). The difference between household wealth and value per household is due to the rise in the number of homes since then. There [...] The annual rate of house price increases reached its highest level since November 2007, official data shows. Property prices rose by 9.7% year-on-year in March the 12th consecutive month of annual price rises, the Department for Communities said. The average value of a UK home rose by 0.7% compared with February. London saw the biggest rise in prices [...] Bank of England figures show 48,901 mortgages were approved in March – up from 46,882 in February, but net lending took a sharp dive.The slow start to 2010 in the housing market may partly explain the net lending dip Net lending, which strips out redemptions and repayments, fell to just £318m during the month, down from [...] The labour Government’s stamp duty exemption for first time buyers has failed to boost the number of people hoping to get on to the property ladder. Only 26.3pc of people planning to buy a property during the coming 12 months are first-time buyers, according to property website Rightmove. Rightmove questioned more than 35,000 people and found the [...] Despite the revival in prices, which has taken many commentators by surprise, activity in the property market is still relatively subdued. This has been due to the enforced rationing of mortgage funds provoked by the credit crunch and the banking crisis that started in 2007. This means the average first time buyer still has to put down [...] The annual rate of UK house price inflation has hit double figures for the first time since June 2007, according to the Nationwide. The building society said that house prices in the UK had risen by 10.5% in the year to the end of April. Prices rose by 1% in April to push the cost of the [...] The British Bankers Association (BBA) said that banks were “actively encouraging” borrowers to use any surplus cash to reduce their mortgages. “Homeowners are reducing mortgage debt by making, or maintaining, higher repayments using the extra cash generated by lower mortgage rates,” said David Dooks, the BBA’s statistics director. Remortgaging continued the steady increase seen in recent months, [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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