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UK Property News 12 2008

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BBA records mortgages dropping by third

The British Banking Association (BBA) has published research showing a significant drop in the number of mortgages approved throughout November.

31 Dec 2008
BBA records mortgages dropping by third
1 in 5 homes taking a year to sell

New research has found that the housing markets in some areas of Britain are suffering so much that a fifth of all homes on the market have remained on sale from the start of 2008.

30 Dec 2008
1 in 5 homes taking a year to sell
Repossessions to rocket in 2009

The number of repossessions predicted for the coming year continues to look bad as the recent publication of research from homeless charity Crisis provides a particularly bleak outlook.

30 Dec 2008
Repossessions to rocket in 2009
Popularity gaining among commercial property

The commercial property market has been predicted to offer rental yields in 2009 high enough to warrant investment in the market despite the predicted falls in value, it has been suggested.

29 Dec 2008
Popularity gaining among commercial property
Year-end accompanies optimism

The end of 2008 has come along with more small glimmers of hope among estate agents, it has been reported, suggesting that the housing market may improve throughout 2009.

29 Dec 2008
Year-end accompanies optimism
House prices 'will drop 35%'

A leading market analyst announced recently that the chances of the housing market returning to strength next summer are low, instead claiming that there is a greater chance that prices will fall for another two years.

24 Dec 2008
House prices 'will drop 35%'
Lettings and landlords looking good in 2009

Landlords and letting agents alike can afford to look confidently towards the coming year, one analyst has said recently.

24 Dec 2008
Lettings and landlords looking good in 2009
Capital properties 'near bottoming out'

Estate agent Savills has released research explaining the possibility that the property market in London could see a return in value next year.

23 Dec 2008
Capital properties 'near bottoming out'
Property prices drop £22,000

The average property in Britain has seen £22,083 wiped from its value in 2008, it has been reported.

23 Dec 2008
Property prices drop £22,000
No house price forecast from CML

The Council of Mortgage Lenders (CML) has decided that it will not publish its annual house price forecast this year, following one of the worst 12 months in recent history.

22 Dec 2008
No house price forecast from CML
NAEA offers mixed messages

The National Association of Estate Agents (NAEA) has given a mixed outlook on the year ahead with the publication of a report detailing both falling prices and rising first-time buyer sales.

22 Dec 2008
NAEA offers mixed messages
Repossessions could hit 1991 levels

The number of homes repossessed next year could match levels not seen since 1991 if predictions are correct, it has been reported

19 Dec 2008
Repossessions could hit 1991 levels
Mortgage lending drops to below half

Recent research into the gross amount of mortgage lending recorded in 2008 shows that the year to November 2008 experienced a 51 per cent fall in cash lent.

19 Dec 2008
Mortgage lending drops to below half
Almost 50% of Brits would still buy property now

Almost half of the respondents to a recent survey regarding the current housing market have stated that, despite poor market conditions, they would still buy a home, it has been reported.

18 Dec 2008
Almost 50% of Brits would still buy property now
Repossessed homes increasingly sent to auction

The number of repossessed homes sent to be sold at auction has doubled in the past year, recent research has shown.

18 Dec 2008
Repossessed homes increasingly sent to auction
Asking prices likely to redouble 10% drop

Recent research from Rightmove has suggested that asking prices for UK properties are likely to drop as fast in 2009 as they have done this year so far.

17 Dec 2008
Asking prices likely to redouble 10% drop
2010 could see house prices rising

It has been widely agreed that the next 12 months is going to be an unpredictable time for the housing market, but a growing number of analysts are claiming that house prices will rise in 2010.

17 Dec 2008
2010 could see house prices rising
Rightmove property feed now accepted at Houseladder

After many requests, Houseladder has updated their website to be able to accept Rightmove version 3 and 3a bulk property data feeds for FREE.

16 Dec 2008
Rightmove property feed now accepted at Houseladder
House prices 'to drop a full 15 per cent in 2009'

The chief executive of Barclays Bank, John Varley, has offered one of the more conservative estimates of 2009 house price falls to Sky News.

16 Dec 2008
House prices 'to drop a full 15 per cent in 2009'
Government makes attempt to attract buyers

Home loans for first-time buyers could be made more affordable once again as a result of government financial aid, it has been reported.

16 Dec 2008
Government makes attempt to attract buyers
Renting favoured by young professionals

The Trade Unions' Congress (TUC) has published a report which finds renting is the most popular form of living for young people, given the current market.

16 Dec 2008
Renting favoured by young professionals
Canary Wharf sees rush to sell property

The number of homes available for sale in Tower Hamlets, the London borough home to Canary Wharf, has jumped sharply in the past month, it has been discovered, showing the true effect of the recent job losses in the City.

15 Dec 2008
Canary Wharf sees rush to sell property
Housing market 2009 open to debate

A recent Times report has given mixed opinions of the coming year, suggesting that it could either play host to the housing market regaining confidence or experiencing greater falls in value than those seen in 2008.

12 Dec 2008
Housing market 2009 open to debate
Cost of trackers to fall by £9bn

The recent Bank of England base rate cuts now mean that by next Christmas a total saving of £9 billion could be enjoyed by homeowners with tracker mortgages.

12 Dec 2008
Cost of trackers to fall by £9bn
Banks 'playing a part' in rapid house price falls

Banks which insist on selling repossessed homes at bargain prices through property auctions are partly responsible for the rate at which house prices have been falling, it has been claimed.

11 Dec 2008
Banks 'playing a part' in rapid house price falls
Students queue in street to rent

Students in Oxford have begun queuing overnight outside estate agents, despite sub-zero temperatures, in order to secure a rental property, it has been reported.

11 Dec 2008
Students queue in street to rent
Rics report finds housing transactions still slipping

The number of homes sold in the past quarter has again dropped this month, it has been reported, reiterating that there will be no quick turnaround in the market.

11 Dec 2008
Rics report finds housing transactions still slipping
Landlords 'need evidence' to support deposit claims

Landlords have been urged to ensure they can provide conclusive evidence if they choose to keep hold of some or all of a tenant's deposit.

10 Dec 2008
Landlords 'need evidence' to support deposit claims
House purchase loans up on September levels

The volume and value of loans for house purchases last month was up on the levels seen in October, it has been revealed.

10 Dec 2008
House purchase loans up on September levels
House prices finally attract buyers

Home buyers across the country are beginning to return to the housing market, it has been reported, following a year of house price declines.

09 Dec 2008
House prices finally attract buyers
Times revisits property barometer

The Times has revisited its property barometer introduced earlier this year in order to take a closer look at the current state of the property market, it has been reported.

08 Dec 2008
Times revisits property barometer
House prices drop fastest in past 25 years

Research from the Halifax has shown that house prices across the country fell faster in the past 12 months than they have done in since 1983, it has been reported.

08 Dec 2008
House prices drop fastest in past 25 years
Buying could increase as Bank reduces rates

The Bank of England has for the third month in a row announced that interest rates have been cut, taking last month's three per cent decision down to just two per cent yesterday (December 4th).

05 Dec 2008
Buying could increase as Bank reduces rates
House builders cutting property prices

House builder Bellway has suggested that the trend among fellow house builders, in which they lower house prices to attract buyers, is contributing to wider property depreciation.

05 Dec 2008
House builders cutting property prices
House prices 'sure to keep falling'

The idea held by many that Britain is suffering from an under-supply of houses and therefore prices will stabilise soon is misguided, one analyst has claimed, suggesting instead that 2009 will bring only further house price falls.

04 Dec 2008
House prices 'sure to keep falling'
Which? publishes 'accidental landlord' book

Consumer organisation Which? has published a book to assist 'accidental landlords' in the management of their properties, it has been reported.

04 Dec 2008
Which? publishes 'accidental landlord' book
Mortgage lending will fall flat, says CML

The chance that banks will be able to maintain even the low rate of mortgage lending experienced this year will be slim in 2009, the Council of Mortgage Lenders (CML) has hinted.

03 Dec 2008
Mortgage lending will fall flat, says CML
Rental sector 'should be supported and expanded'

The private rental sector should be encouraged to expand by offering buy-to-let investors and other private landlords the chance to benefit from more government assistance, one industry expert has argued.

03 Dec 2008
Rental sector 'should be supported and expanded'
London homes drop 7.5% in month

Top-of-the-range properties in London fell at record levels in November, it has been confirmed, as the market experienced a monthly drop of 7.5 per cent.

02 Dec 2008
London homes drop 7.5% in month
Price falls could accelerate due to pensioners' selling spree

A total of 1.7 million pensioners in Britain are currently relying on the equity locked up in their homes to help them through retirement, recent figures have suggested.

02 Dec 2008
Price falls could accelerate due to pensioners' selling spree
No market improvement forecast from BBA and Rics

The British Bankers Association (BBA) has insisted that house prices are not showing any sign of improvement for 2009 as the potential freezing of the mortgage market could lead to transaction figures dropping dramatically.

01 Dec 2008
No market improvement forecast from BBA and Rics
Multi-million pound London home price slashed

Forty per cent has been wiped off the value of a four-storey town house in London's St John's Wood, it has been reported.

01 Dec 2008
Multi-million pound London home price slashed




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