UK Property news - our take on the week

UK Property news is widely available. This is more of a 'digest' for house sellers (and buyers).

We'll only bring you a highly selective round-up of the property news we think has the most significance for you.

This means we won't disturb you with unnecessary detail but we will try to tease out the wider significance behind the headlines.

The kinds of topics we'll be covering include news on mortgage lenders and mortgage brokers, house prices and estate agents..that kind of thing.

And if it's a quiet week on the property news front you won't see much change here. If you bookmark this page or add it to your favourites we'll help you stay tuned with the UK property news that matters to home-owners. Alternatively, why not subscribe to our RSS feed? No email required.

25 April, Latest house price news from the Nationwide

Houses prices rose at 0.9% this month says the Nationwide, the highest increase since December.

An interest rate rise in May is widely regarded as a "done deal".

However, both the lender and the wider community of economists, are predicting successive rate rises will eventually have a cooling effect on the market. Indeed there were even signs that the market was beginning to cool earlier this year.

Lenders are keen to play down the strength of the housing market amid fears that further interest rate rises could tip the housing market over the edge and see demand drying up.

Read the full story here

23 April, House prices top 100,000 in every town

The latest research from the Halifax shows that the average price of any urban home now tops 100,000.

Commuters are believed to be pushing up prices in many smaller towns.

In Scotland, prices are up 22.4% in the last year, while in London prices are up nearly 15%. Northern Ireland however remains the star performer with prices up 76% in the last two years alone.

The Halifax research also reveals that growth is sluggish in some parts of the country including the East Midlands, Yorkshire and the North West.

Read the fully story here

20 April, Property hotspots over the last decade

Brighton has outperformed 61 other cities to record the highest price rise per square metre over the last decade. Other top performers include Truro and London.

Scotland has fared less well, but has recorded some of the highest increases over the last year. Edinburgh is now the 9th most expensive place to live.

Prices have also shot up in Northern Ireland.

Over the last ten years the average price rise across the 62 cities was 182% or 8% in the past year.

Read the full story here

16 April, Latest house price figures from Rightmove

Rightmove's latest survey suggests house prices have risen sharply, despite predictions of a slow-down.

Rightmove suggests property prices have shown their highest increase for five years.

Rightmove says the average house gained 8,300, a rise of about 3.6% over the last month.

The lastest figures take the annual level of house price inflation to 15%.

However, the Rightmove data is based on asking rather than selling prices. For this reason we believe it over-inflates the data.

Read the full story here

12 April, Scotland's house prices surge ahead

Figures released by Datamonitor, show that house price growth in Scotland has outpaced the rest of the UK at just over 15%.

Datamonitor also warns of the possibility of a house price crash, citing spiralling levels of indebtedness as a key factor. Those most at risk are homeowners whose mortgages are with the sub-prime lenders.

The possibility of a house market crash in Scotland is refuted by the HBoS group economist who argues that Scotland's house price growth was "the most stable it has ever been".

Key areas of growth are Edinburgh and Aberdeen. Edinburgh house prices have trebled in the last ten years. Meanwhile Aberdeen's house price growth over the first quarter of the year was 10.3% - well ahead of the UK average.

Read the full story here

12 April, RICS says house prices are picking up

The latest survey from the Royal Institute of Chartered Surveyors (RICS) suggests that the housing market was unexpectedly active in March.

The RICS surveys which are based on the house price balance rose to +25.5 in the three months to March, ahead of the similar rise to February of +24.8. Analysts had been forecasting a balance of +20.

While the RICS says the housing market appears to have absorbed recent interest rate rises it's keen to emphasise that a further rise could have a marked impact in confidence.

Scotland, Northern Ireland and London were singled out as key areas of growth while the level of unsold property was at its lowest level since June 2004.

Read the full story here

5 April, UK Interest rates left unchanged

UK interest rates have been left unchanged at 5.25%. However, rates are widely tipped to rise in May to 5.5%.

In March, the Bank of England's Monetary Policy Committee voted 8 to 1 in favour of leaving rates unchanged.

While rates are widely expected to increase to 5.5% in the near future, it is not anticipated they will rise further.

Read the full story here

5 April, Latest house price news from the Halifax

The Halifax says UK house prices are still rising strongly.

The lender says house price inflation is running at around 11% with prices rising 1% in March.

According to the Halifax the average home now costs 194,362 with Scotland and Wales showing the strongest growth in the first quarter of 2007.

Just like the Nationwide, the Halifax notes it can see "emerging signs" of a cooling market.

Read the fully story here

4 April, Latest Nationwide house price report

More house price news from the Nationwide.

The Nationwide's latest house price report suggests that house price inflation is running at 10%.

House price growth was 2.2% during the first quarter of 2007, with all parts of the UK registering house price inflation. As with previous reports, the latest indicates growth is not uniform throughout the UK.

House price growth in Northern Ireland has been remarkable with prices rising around 57% year on year. This is the highest rise the Nationwide has ever recorded.

A typical house in London now costs 280,995 up 14.3% over the previous year.

Growth also remains strong in Scotland at 15.2% which is still the second cheapest part of the UK. However, there are signs that growth in prices is slowing down. Growth in the first quarter of 2007 was 2.7% compared to 3.7% during the final quarter of 2006.

Meanwhile the outcome of tomorrow's meeting of the Bank of England's Monetary Policy Committee is a difficult one to call.

Read the fully story here

29 March, House price inflation slows...?

In contrast to Hometrack, the Nationwide says house price inflation is slowing.

According to the Nationwide, house prices rose 0.4% compared to a previous figure of 0.6% (revised) in February.

The Nationwide says that for the first three months of this year house price inflation is running at less than half the level it was during the last quarter of 2006.

However the lender is sticking by its previous forecast of house price inflation in the region of 5-8 percent for the year.

Read the full story here

26 March, Lastest Hometrack survey on house prices

According to Hometrack's latest survey, house price inflation has reached its highest level for four years.

In March, the cost of a typical home rose 0.8%, up from 0.7% the previous month. This makes the annual rate of house price inflation 6.7%. This is the highest year on year growth since June 2003.

According to Hometrack the overall figures mask differences between London and the rest of the country where house price growth is more subdued. This suggests that the regional housing markets are feeling the impact of successive interest rate rises.

House prices in London grew 1.8% in March, the highest rise since July 2002. The annual rate of growth in London now stands at 13.9%.

In March 80% of London's postcodes saw a price increase as demand continues to outstrip supply.

Widespread variation in price increases will pose a difficult dilemma for the Bank of England's Monetary Policy Committee. Interest rates have been widely tipped to rise to 5.5% before the middle of the year.

Read the full story here

19 March, The latest house price news from Rightmove

Rightmove's March House Price Index shows that house prices are 12% higher than they were a year ago.

The price of the average home in England and Wales will now set you back 228,183.

This means that the average home in England and Wales rose 68 per day in the year to March, and that house buyers are having to pay on average 24,784 more for a property than they were a year ago.

In London the average price of a house now stands at 366,302.

Read the fully story here

8 March, House prices rose 1.8% in February

The latest monthly survey from the Halifax, the UK's largest lender, suggests house prices are still rising sharply.

The latest figures show that house prices rose 1.8% in February - about 10% annually.

In spite of this, the Halifax's chief economist is sticking to his guns. He continues to maintain that house price growth will slow significantly in the second half of 2007.

Read the full story here

8 March, Interest rates on hold for the time being

UK interest rates remain unchanged at 5.25%.

It's thought that the Monetary Policy Committee prefers to know what the Budget has in store on 21 March, before committing to a further rise.

By coincidence the minutes from this meeting will be published on Budget day. It will be interesting to see if the MPCs voting changed from February's 7-2 split, in favour of keeping rates unchanged.

Read the full story here

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