Latest Property News
'Potter effect' drives up house prices !!
Property market experts are noticing a new trend in what is influencing the rise in house prices UK towns, which they are terming the "Potter-effect". !!
Best buy-to-let investment is houses not flats !!
The best buy-to-let investment for capital gains and rental yields in today's market and in the longer term is in houses and not flats, an expert has said. !!
Budget airlines to boost Cyprus house prices !!
The price of property in Cyprus is set to rise this year after a low-cost airline said it would serve the island from the UK. !!
Hips trial extended to 12 more locations !!
The trial run of Home Information Packs (Hips) will be extended to an additional 12 locations across the UK it was revealed today. !!
Over 5,000 sign petition against Hips !!
More than 5,000 people have signed a petition against Home Information Packs (Hips), which are due to come into force in June this year. !!
Property Finance News
House prices grind to near standstill !!
House prices grew by just 0.1% in July; the lowest rate of monthly growth since January 2006, according to the latest national housing market survey from Hometrack, the housing intelligence business. !!
Property Prices : House Price Slow-Down !!
Author: alltheseasons Subject: House Price Slow-Down Posted: 27Jul2007 at 1:39pm House prices could slow down sharply over the coming six months, Britain 's fifth-largest mortgage lender warned today. Northern Rock said that house prices, which last month showed annual increases of just over 10%, could be rising at the same level as wages by the year-end, which would mean by as little as 4%. 'Because so many people now have fixed-rate mortgages generally running for two or three years the recent hikes in interest rates have so far only affected around a third of borrowers,' said chief executive Adam Applegarth. 'But during the second half they will begin to bite and household spending will be squeezed. That will dampen the home moving market but, conversely, boost the remortgage market as people search for the best deal.' He added: 'If you take out the central London market, which continues to power ahead and so skews all the data, the rest of the country is almost certainly down about the 4% level of house price inflation.' Northern, which issued a profits warning last month, boosted its dividend today by 30% to 14.2p for the first half and promised a similar increase for the final payout. Headline first-half profits rose by 29% to 224m but the group repeated that for the full year and next year it expects growth of only about 15%. Unlike rival lenders such as HBOS which fund most of their mortgage lending from other customers' savings, Northern Rock borrows most of its funds from the wholesale markets. That means its margins become squeezed as interest rates rise but most of its borrowers remain on lower fixed-rate mortgages for a time. Applegarth said the group will ride out the cycle and with its ability to retain 85% of customers when their fixed-rate mortgages come up for renewal should see further growth well ahead !!
Skipton gives help with HIPs !!
With three working days to go until the August 1st deadline, sellers of four or more bedroomed properties requiring a Home Information Pack (HIP), are being offered a helping hand by Skipton Building Society. !!
Watchdog confirms Nationwide-Portman merger !!
City watchdog, the Financial Services Authority (FSA), has officially confirmed that the merger between the Nationwide and Portman building societies can proceed. !!
Buy-to-let fills housing gap? !!
The buy-to-let sector has continued to enjoy steady growth in the first half of 2007, providing affordable accommodation for increasing numbers of households. So says specialist buy-to-let mortgage lender, Paragon. !!
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