Annual
house price fall in to single digits |
| The price of a typical house rose
by a seasonally adjusted 0.9% in June, according
to the Nationwide. At £156,442, the average
house price across the UK was still 9.3% lower
than a year ago, but this marks the first time
since July 2008 that the
|
Bank
of England reports negative equity over 1 million |
| Property price falls mean that
1.1m homes are now worth less than their mortgages,
according to figures from the Bank of England.
In the first quarter, some 12,800 houses were
repossessed 51% higher year on year.
|
| Britain's
biggest repossession |
| Britain's priciest repossession is to be offered
in a residential receivership sale next month.
The £20 million 19th Century luxury property
in Mayfair is making credit crunch history as
it is nearly twice as valuable as Britain's previous
largest
|
Buy-to-let
rent falls as supply increases |
Rental on buy-to-let properties
have fallen by 6% over the past 12 months with
rising supply the key issue. The supply of rental
flats, in particular, is up by between 50% and
100% depending on location, according to a recent
residential review.
|
Demand
for mortgage adviers soars |
| Online search specialist Infoserve
has recorded a 94% increase in the number of searches
for mortgage advisers on the internet since September
2008. Data from Infoserve’s local search
directories, which receive 32 million hits a month.
|
May
gross lending still subdued |
| Gross mortgage lending totalled an estimated £10.3
billion in May, a 2% decline from the £10.5 billion
in April and down 58% from May 2008, according to new
data from the Council of Mortgage Lenders. |
| OFT
puts estate agent register online |
| The Office of Fair Trading (OFT)
has launched an online version of its register
of estate agents who have been given official
warnings or prohibition orders under the Estate
Agents Act 1979.
|
Property
asking and selling prices narrowing |
Almost 60 percent of surveyors
are now reporting that the gap between asking
and selling prices are narrowing says RICS research
published today. In contrast, last August results
of the same survey revealed that the gap was widening.
|
| Tax
warning on commercial property |
| Due to government tax changes
it has been suggested that fewer people will be
maintaining commercial property holdings in their
pensions in future. It is widely felt that only
people with high levels of cash holdings in their
self-invested personal
|
| Tenant
Arrears over £250m in UK |
| Around 133,000 tenants faced potential
eviction for arrears at the end of May, equivalent
to one in twenty five rental occupants, according
to new monthly research. Although the figures
look bad, they actually represent an improvement
on the picture
|
| UK
housing repossessions to peak within 2 years |
| A leading economist has predicted
it will be another two years at least before repossessions
reach their peak, and the outlook for the UK’s
economy remains ‘hideous’ for the next
decade. |
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