Mortgage approvals for purchase up nearly 20% on 2015 in January – BoE
49,015 mortgages for house purchase were approved in January according to Bank of England Stats published today up nearly 20% on January 2015. The number of remortgages approved also rose compared to twelve months ago, with 33,546 compared to 26,456 in 2015, an increase of 26.8% Seasonally adjusted figures point to a relatively busy January […]
House building hits seven year high with starts up 23%
The number of house builds started in Q4 of 2015 was 23% higher than in 2014 according to new figures released by the Department for Communities and Local Government (DCLG). It brings the total number of new builds started in 2015 to 143,500 Communities Secretary Greg Clark said: “Aspiring home owners should get the help […]
Number of transactions up 7.5% year on year for January 2016
The number of residential transactions for properties worth more than £40,000 in January was 83,590 according to figures released by HMRC, up 7.5% on January 2015. Seasonally adjusted figures also suggest a slight dip from the norm, going from 109,020 in December to 105,940 in January Andy Sommerville, director of Search Acumen, said: “Although residential […]
As industry braces for a buy-to-let surge, beware the risks of rushing
With implementation of additional stamp duty approaching, leading property risk management expert urges risk management diligence Mortgage lenders and conveyancers alike across the UK are bracing themselves for an expected surge in buy-to-let property transactions, stemming from the additional stamp duty coming into force from 1st April. According to figures obtained by the BBC, the […]
Housing market shows no signs of slowing down as 2016 sees highest level of lending for January in eight years
While lending may have dipped since December the overall trend of rapid growth shows no signs of slowing as the year gets off to a bang with the highest level of gross lending in January for eight years. Total lending in January, according to the Council of Mortgage Lenders, stands at £17.9 billion. While 9% […]
Building Society mortgage approvals up 10%
The value of mortgage approvals granted by building societies rose by 10% in 2015 with the number of loans approved up 6%. According to the Building Society Association (BSA), around one third of their customers were first time buyers. In total building societies approved 395,309 mortgages in 2015, representing 31.5% of all mortgages approved. Paul […]
Buy-to-Let mortgages up 30% in December.
The number of Buy-to-Let mortgages taken out in December 2015 was 30.1% higher than twelve months ago. While the total number of buy-to-let mortgages granted dipped 3.4% month to month, this was largely caused by a dip in the number of remortgages, which fell by 9.2%. The number of buy-to-let loans for purchase grew by […]
Land Registry say house prices rose by 2.5% in January
House prices rose by a huge 2.5% in January according to Land Registry. The rise represents more than a third of the total price rise for the twelve months to the end of January, which is reported to be 7.1%. Many commentators expected to see a rush on the purchase of buy-to-let properties ahead of the […]
House prices fall 0.2% between November and December – ONS
The average house price fell between November and December 2015 according to the Office for National Statistics. Seasonally adjusted figures indicate the average price fell by 0.2%. The average property increased in value by 6.37% in the twelve months to December, compared with 7.7% for the twelve months until November. The overall average masks significant […]
East of England leads early spring price surge
Asking prices in the east of England have risen faster than any other region in the country over the last twelve months according to Home.co.uk’s latest asking price index. Asking prices are up 12.2% over the last twelve months in the east of England, meaning prices are rising faster there than in Greater London (12%) […]
Increase in housing supply not enough to dampen price rises – RICS
Available housing stock has increased for only the third month of the last eighteen months according to the Royal Institute of Chartered Surveyors Residential Market Survey. However 49% of Surveyors have reported price rises this month with current stock still significantly lower than at any other point in the last 15 years. The survey also […]
Nearly 50% of solicitors and conveyancers predict a busier market in 2016
In a survey conducted by Searches UK in December 2015, solicitors and conveyancers predicted a busier market in 2016 with even more transactions expected to complete. Due, in part, to the imminent increase in Stamp Duty for buy-to-let properties set for April 2016, 46% of solicitors and conveyancers believed the market would become busier with […]
Prime London property sale volumes down for eighth consecutive quarter
The number of sales in so-called prime central London (PCL) locations have continued to fall, with the number of sales falling for the eighth consecutive quarter, according to the LonRes Residential Review for winter 2015/16, with 22% fewer transactions in 2015’s Q4 compared with Q3. The market for propeties valued at over £5 million was […]
House Prices up 1.7% in January
House prices across the UK have risen by 1.7% in January, according to Halifax’s House Prices Index. According to the index the average UK house price is now £212,430. The index also says house prices have risen 9.7% in the twelve months to date, and 2.2% over the last three months, a slight increase over […]
Mortgage approvals up in December, according to BoE
The number of loans approved for house purchased has risen for the fourth consecutive month, according to information published by the Bank of England. In total, 70,837 mortgages were approved, up from 70,424 in November. It also sits comfortably higher than the average for the previous six months of 69,462. The number of remortgages was […]
Fewer first time buyers in December despite falling prices
The number of first time buyers (FTBs) picking up keys fell in December compared with November despite average prices coming down by 0.5%. In total there were 1,300 fewer FTBs in December, a drop of 4.7% on November as the Christmas slowdown took effect. However according to information published by Reeds Rains and YourMove the […]
Target for housebuilding missed by nearly 25%
7% more houses were built in 2015 compared with 2014 but totals are still well below government targets for housebuilding, according to the National House Building Council (NHBC) In total, 156,140 new homes were registered last year according to the NHBC’s annual statistics, far short of the overnment’s own 200,000 target. Despite rocketing property prices […]
Mortgage approvals up 24% for December, say BBA
The number of mortgages approved in December was 24% higher than the same period a year ago, according to data published by the British Banking Association (BBA). The report also states that mortgages for house purchase are up 19% and remortgages up 31%. The data also states that the use of credit cards decreased, with […]
House prices up 0.3% in January, say Nationwide
House prices have increased by 0.3% this January, according to Nationwide’s House Price Index. It marks the seventh consecutive increase according to the building society’s estimates and puts their estimate of the average British house price at £196,829. The pace of growth has slowed, however with growth hald a percent down on December’s 0.8%. Commenting […]
