Property market news
The UK’s newest property hotspots in 2008
12 deprived towns and cities in the UK could soon become prime property hotspots and investment locations… Some of the most deprived areas of the country are set to become property hotspots thanks to the government’s Pathfinder Funding Programme, which will see £1billion of government cash set to revitalise the property markets of 12 redundant and [...]
Mortgage approvals at 13 year low
The continuing decline in the property market has been underlined by the latest Bank of England figures. The number of new mortgages approved for house purchase fell slightly in February to just 73,000, said the Bank. That was a 39% drop on the same month a year ago, and leaves prospective mortgage lending still at [...]
UK housing market outperforms Europe
The UK housing market performed well in 2007, compared to most of the rest of Europe. That is according to the latest European Housing Report from the Royal Institution of Chartered Surveyors (Rics), which showed that the UK housing market was the sixth strongest last year. House prices increased by eight per cent in the [...]
Mortgages disappearing from the market
Potential homebuyers have been advised to try to secure deals on mortgages as soon as possible. It comes as the global credit crunch continues to affect the mortgage market, leading to many lenders pulling some products from the market. Michael Coogan, director general of the Council of Mortgage Lenders (CML), told BBC Radio Four’s ‘Today’ [...]
Gross lending declines in February
Gross lending declined to an estimated £24 billion in February, down 7% from £25.9 billion in January and 6% from £25.6 billion February 2007, according to the Council of Mortgage Lenders. The Bank of England approvals data for January showed subdued levels of house purchase activity and a sharp rise in remortgage approvals, which is [...]
