Posts by Allen Walkey
Bank of England announces increase in Bank Rate to 0.50%
Announcement from the Bank of England today: Bank Rate increased to 0.50%. At its meeting ending on 1 November 2017, the Monetary Policy Committee voted by a majority of 7-2 to increase Bank Rate by 0.25% to 0.50%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by…
Read MoreFollowing recent public consultation the draft Tenants Fees Bill now published
The Department for Communities and Local Government yesterday 1st November 2017 published a Policy Paper ‘Draft Tenants Fees Bill’ The draft Tenant Fees Bill sets out the government’s approach to banning letting fees paid by tenants. The draft bill will make renting fairer and easier for tenants by allowing them to see upfront what a given…
Read MoreHouse price growth picked up slightly in October according to Nationwide
The latest Nationwide House Price Index – October 2017 released today headlines ‘Slight pick up in annual house price growth in October.’ The report reveals that annual house price growth picks up to 2.5% which is up on previous month at 2.3%. Monthly change shows an increase of 0.2%, down from 0.4% in September. Commenting…
Read MoreEstate agents would welcome changes to buying and selling process according to naea | propertymark
The latest Monthly UK Housing Report – September 2017 from naea|propertymark reveals that: In September, supply and demand for housing was up, but sales agreed remained flat, as eight in 10 estate agents argued that the home-buying process is outdated. Sales to first-time buyers (FTBs) remained the same as the previous two months, as well…
Read MoreMortgage approvals for house purchase fell slightly in September according to BoE
Bank of England (BoE) today released Money and Credit statistical report – September 2017. Lending to Individuals: Mortgage approvals for house purchase fell slightly to 66,232 in September, close to their recent average. The annual growth rate of consumer credit has remained broadly unchanged since June, at around 10%. The flow was £1.6 billion in September,…
Read MoreBig savings if willing to commute just 30 mins into Edinburgh or Glasgow according to Bank of Scotland
Rail commuters to Scotland’s two biggest cities are typically financially better off catching the train into the city than living close to their place of work, according to new research by Bank of Scotland. House prices for homeowners living 30 minutes outside of Edinburgh are 36% lower (£86,371) on average, for those living 30 minutes…
Read MoreConfidence drops to lowest for 5 years in UK house prices according to Halifax
Confidence in UK house prices has dropped to its lowest level since December 2012, according to the latest Halifax Housing Market data which reveales that the house price optimism balance dropped to 30 points in October, the index has fallen by 38 points since it peaked in May 2015. The Halifax survey which was conducted…
Read MoreNHBC reports the highest number of new home registrations for 10 years in their third quarter report.
The NHBC reports the highest number of new home registrations for 10 years in their third quarter report. The NHBC reports that in the period July – September: The number of registrations was 37936, a 6% increase on last year (35,946). Of these: Private sector registrations in Q3 2017 increased by 9% (29,083), compared with…
Read MoreResponse from Shelter to the Prime Minister’s announcement that Local Housing Allowance rates will not apply to social housing.
Shelter’s response to the Prime Minister’s announcement that Local Housing Allowance rates will not apply to social housing. Polly Neate, CEO at Shelter said: “We warmly welcome the Prime Minister’s announcement that Local Housing Allowance rates will not apply to social rented homes but she shouldn’t stop there. “Although this is a welcome reprieve for…
Read MoreOver half of the nation believes they are currently not saving enough according to Aldermore
The latest research from Aldermore’s 2017 Annual Savings Tracker reveals that over half of the nation believes they are currently not saving enough. The nation’s inconsistent savings habit may be one of the reasons for these concerns as almost two fifths (37%) only save if they have money left over the end of the month,…
Read MoreHousing market activity has built up modest momentum since the start of the year says UK Finance
UK Finance today updates on lending for September 2017. UK Finance estimates gross mortgage lending in September to be £21.4 billion, 5% higher than a year ago. Nearly two-thirds of this lending, or £13.7 billion, was carried out by High Street Banks. Commenting on the data, UK Finance’s Senior Economist Mohammad Jamei said: “As we near…
Read MoreCity house price inflation down from a year ago according to Hometrack
The Hometrack UK Cities House Price Index – September 2017 report released today reveals: City house price inflation is running at 4.9% per annum down from 6% a year ago. Quarterly growth rate at a 14-month high supported by increased sales volumes. It states: The annual rate of price inflation in London has stabilised at…
Read MoreNew homes saving owners hundreds of pounds a year in energy bills says HBF
A new report recently released by the House Builders Federation (HBF) highlights that ‘New build homes save owners £629 a year on energy bills.’ New Homes being built in England and Wales are considerably more energy efficient than their predecessors, saving owners hundreds of pounds a year in energy bills, says the report. The report…
Read MoreSajid Javid launches a call for evidence to improve the home buying process
Communities Secretary Sajid Javid launches a call for evidence on making the home buying process cheaper, faster and less stressful for those involved. Communities Secretary Sajid Javid said: “We want to help everyone have a good quality home they can afford, and improving the process of buying and selling is part of delivering that. Buying a…
Read MoreConsumer experience study of buying and selling homes in England and Wales
Research and Analysis from Department for Business, Energy & Industrial Strategy published 22nd October titled ‘Buying and selling homes: consumer experience study.’ A study on the consumer experience of buying and selling homes in England and Wales. The research covers the entire consumer ‘journey’ of buying and selling homes including: initial marketing or property search negotiating…
Read More