Interest rates and Halifax report
June 5, 2015
UK interest rates have been held at 0.5% again by the Bank of England.
The Bank also kept the size of its bond-buying stimulus programme unchanged at £375bn. The decision by the Bank’s Monetary Policy Committee (MPC) comes more than six years after the record low was introduced.
The number of properties on the market is at its lowest level for many years, according to the Halifax.
This shortage of homes for sale, coupled with demand from buyers, has led to prices rising at a faster rate than wages, the lender said. Property prices rose by 8.6% over the year to the end of May, pushing the cost of the average home up to £196,067, its own lending data shows. Yet prices dipped by 0.1% in May compared with April.
You May Also Enjoy
Britain’s most affordable towns revealed
Britain’s most affordable towns revealed, where homes cost less than two years worth of household earnings Zoopla reveals 36 British towns where a typical home is worth less than twice the combined annual earnings of two local full-time workers Across Great Britain, a typical home costs 4.3 times annual household earnings, compared with just…
Read More 
Bank of England raises rates to 4%
The Bank has raised interest rates by 0.25 percentage points to 4%. Policymakers were unanimous in their decision. Here is the reaction from the industry. Nathan Emerson, CEO at Propertymark, comments: “As the Bank of England continues to navigate wider economic pressures, including rising inflation, it comes as little surprise that base rate decisions remain…
Read More 
Breaking Property News 5/11/26
Daily bite-sized proptech and property news in partnership with Proptech-X. The Greatest Return on AI May Not Be the Work It Eliminates, but the Human Potential It Releases Time to look at artificial intelligence as a growth engine that upgrades humans working life Thought Leadership By Author Andrew Stanton CEO Proptech-PR For decades, businesses have…
Read More 
Guy Fawkes Night set to fizzle out for UK households
Firework Night set to fizzle out as 97% of UK households won’t buy fireworks and 7 in 10 want to see them banned As many as 97% of UK households won’t be buying fireworks to set off at home this Bonfire Night, while more than seven in 10 believe private fireworks displays in residential gardens…
Read More 
Budget tax raid could hit landlords for £3,500 a year
Budget tax raid could cost landlords almost £3,500 a year as property income tax rises Landlords could face almost £500 in additional annual tax per property, rising to nearly £3,500 across an average portfolio, following the Autumn Budget decision to double the previously planned increase in property income tax rates from April 2027. New analysis…
Read More 
Upfront information: homebuyers want confidence as much as speed
What movers want from upfront information, and it isn’t only speed Having a survey, legal pack and chain details before making an offer would help more than eight in ten respondents, according to LRG’s latest sales report Of the 553 who answered the question, 41% said they would offer with more confidence, although not necessarily…
Read More