RICS reports house prices at 30 year low
The number of homes changing hands has fallen to its lowest level in 30 years, the Royal Institute of Chartered Surveyors (RICS) has reported.
Consumer confidence still strong says Countryside research
Countryside claims that consumer confidence is not as weak and the economic downturn not as severe as commentators have reported, research has revealed.
House prices experience \"third largest ever fall\"
The average UK house value fell £4,470 to £186,482, its third largest ever fall according to an index published in association with HBOS.
Bradford & Bingley ups mortgage rates
Bradford & Bingley has announced that it is raising its mortgage rates for new borrowers, according to reports.
Planning Bill delayed due to \"legislation process\" concerns
The planning reform Bill has been delayed due to a number of issues raised about the process of legislation, a CLG spokesperson has stated.
Bank holds interest rates at 5%
The Bank of England\'s monetary policy committee has held interest rates at 5%, as it faces the competing pressures of a slowing economy and housing market, coupled with rising inflation, in making its decision today.
Halifax index shows 3.8% year-on-year house price fall in May
House prices have fallen by almost 4% year-on-year during May – the fastest rate of decline since 1993, according to the latest house price index from Halifax. Prices fell by 2.4% in May compared to April, and by 3.8% year-on-year during the month.
HBF calls for 0.5% interest rate cut
HBF has made an urgent case the Bank of England’s monetary policy committee, urging a 0.5% rate cut today to help ease “rapidly deteriorating conditions in the housing market.”
Bellway reservations down 31%
An interim management statement from Bellway has reported that deteriorating market conditions have driven down reservations by 31% across the country. It also reported that the midlands, Yorkshire and north west have been “particularly hard hit” by the downturn.
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