Property prices to be higher at end of this year than the last
September 17, 2009 by admin
Filed under News, News-Mortgages
It has been predicted that at the end of this year house prices will be higher than they were at the end of last year, with many industry experts expecting a slight rebound in both the property market and the economy. Read more
Tags: concern, housing market, Chartered Surveyors, property prices, industry experts, case, market, bank
Mortgage Approval Rates are on the Rise – Is the Recession Coming to a Close?
According to the figures from the mortgage industry for the month of March, it seems that lenders are once again starting to approve mortgages for homeowners. An increase of 16% in the number of mortgages approved in March seems to send a signal that the recession in the UK housing market may have bottomed out and is finally starting to rise once again. Read more
Tags: HM Revenue & Customs, housing market, mortgage industry experts, director general, Chartered Surveyors, recession, council of mortgage lenders, mortgage approvalsDownturn for house price growth
September 13, 2007 by admin
Filed under News, News-Mortgages
House price growth finally changed direction for the first time since October 2005, as property prices began to fall in many areas of the country, the latest housing market survey from the Royal Institution of Chartered Surveyors (Rics) has revealed.
With higher interest rates and market volatility, demand continued to weaken throughout August, particularly in the West Midlands, the north-west and East Anglia.
During the month, 1.8 per cent more chartered surveyors reported falls rather than rises in house prices, although London has yet to be affected by the credit market situation and continues to show the strongest growth in England.
Ian Perry, a spokesman for Rics, said: “Potential house buyers have become far more cautious as they wait and see what affect interest rate rises will have on household finances. Affordability is at its most stretched in over a decade and many will worry that rising mortgage repayments will prove a step too far.
“The market will soften further, going into the autumn, reducing some impetus from those that have been chasing a rapidly moving target.”
According to a recent report from the National Association of Estate Agents, the introduction of Home Information Packs (Hip) for three-bedroom properties is likely to lead to a similar decline in the number of these properties on the market as that which was seen after the introduction of the four-bedroom Hip.
