Call for new mortgage incentives as mortgage lending figures plunge

As the Bank of England figures show mortgage lending at their second lowest level since records began a think tank calls for new home cash incentives.
Big cash incentives should be offered to people living in areas of England where developers want to build new homes, a think tank suggests.

Instead of the current system where council [...]

Surge in searches for fixed rate mortgages

The number of internet searches for UK fixed rate mortgages soared between April – June 2010 (Q2) compared to the same time period last year.

Searches for the term ‘fixed rate mortgages 10 years’ up almost ten fold over the period.

Searches for ‘fixed rate mortgages 5 years’ increased seven fold, while searches for ‘tracker mortgages’ only [...]

UK house prices fall again in August finds Nationwide

House prices fell for the second month in a row in August, according to the Nationwide building society.
Prices fell 0.9% last month, following a 0.5% decline in July, Nationwide said, adding that it was the first time that prices had fallen for two consecutive months since February 2009.

The average house price now stands at just [...]

UK property boom is over with worries about double dip recession

The property boom that home owners have enjoyed during the past year has ended as the latest housing survey shows home buyers retreating over concerns about the economy.
The Royal Institution of Chartered Surveyors said “increased uncertainty” about the economic outlook was making home buyers more cautious.

This reduced demand is combined with an increase in the [...]

Third of properties for sale see house price reduction

A third of all properties for sale have seen their prices reduced amid an uncertain outlook for the housing market, a new survey suggests.
The properties have seen their values cut at least once since they were first listed on the market, according to the survey by property website Zoopla.

The highest average price reductions were in [...]

UK house prices rose 0.6% in July Halifax says

UK house prices have continued to rise in July according to the latest report from the Halifax.Prices rose 0.6% in July, the Halifax said, reversing a fall seen in June, but values have changed little since the start of the year.

The annual house price inflation rate fell from 6.3% to 4.9%, with the average property [...]

UK house prices expected to drop by experts

The Royal Institution of Chartered Surveyors (RICS) has said that it expects prices to start falling in the second half of this year, as sellers started to outnumber buyers.
And Simon Rubinsohn, chief economist of Rics, reiterated that the institution still thought prices were likely to drop.

“Significantly, all the key forward looking indicators compiled by Rics [...]

House price inflation eases again, says Nationwide

UK house prices inflation in the UK continued to ease off in July, the Nationwide building society has said.
Its latest monthly survey shows that prices fell by 0.5% this month, taking the annual rate of house price inflation down from 8.7% to 6.6%.

The price of the average home is now £169,347, almost the same as [...]

UK homeowners increased the value of their stakes in their properties by £3.2bn

UK homeowners increased the value of their stakes in their properties by £3.2bn in the first three months of 2010, new figures show.
The injection was slightly lower than the £3.4bn increase of the last quarter of 2009, the Bank of England’s figures reveal.

The rise was due to homeowners paying off more of their mortgage and [...]

More than 100,000 new UK property millionaires

More than 100,000 UK home owners have become new property millionaires during the past decade, although numbers slipped due to the credit crisis, claims new research.

Postcodes in London and the home counties occupy the top 10 places.

As many as 132,000 homes are worth more than £1 million, concentrated mostly in London and up from almost [...]

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