Archive for category Housing Market
House market £1 billion injection
Posted by admin in Housing Market on April 24th, 2009
A £1 billion injection into the housing market was announced by the Chancellor to ease pressure on homeowners, help meet future demand for properties and allow the construction industry to recover.
Property asking prices fall 7.3 pct - are we at a turning point
Posted by admin in Housing Market on April 20th, 2009
Is the second derivative for house prices turning positive?
Asking prices for homes in England and Wales fell an annual 7.3 percent in April, the smallest drop since January, property Web site Rightmove said on Monday 20th April.
That follows an annual drop of 9 percent in March and adds to evidence that the pace of house price falls may be starting to moderate as the flow of credit picks up after coming to a virtual standstill last year.
There remains a big gap between initial asking prices and eventual selling prices, however, so the evidence must be taken with a pinch of salt. If asking prices are slightly sticky on their way down this may be clouding the fall.
Find more here: http://uk.reuters.com/article/personalFinanceNews/idUKLNE53J00L20090420
900,000 homeowners pushed into negative equity
Posted by admin in Housing Market, No category on February 10th, 2009
Falling house prices have pushed more than 900,000 homeowners intonegative equity, according to the industry body representing mortgage lenders.
The latest data from the Council of Mortgage Lenders issued yesterday, reveals that the north-east of England has the highest proportion of people trapped in properties worth less than their mortgages.
There, one in 10 owner-occupiers are in negative equity. By contrast, in East Anglia and Scotland it is one in 100.
The council said that its latest national estimate compares with the more than 1.5 million homeowners left struggling under the weight of their home loans following the early 90s housing market crash.
Find more here: http://www.guardian.co.uk/money/2009/apr/17/mortgages-negative-equity-recession