Anybody want to buy a house?

House prices fell by 3.6% between August and September according to the Halifax house price index. This was the biggest monthly fall since these figures were first compiled in 1983. So now is the time to rush out and buy a house. Low interest rates mean that typical mortgage payments for a new borrower have fallen from a peak of … Continue reading

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House prices fell in February

House prices fell by 1.5% in February, the first fall since June 2009, according to the Halifax. This gave an average house price of £166,857, which was 8% higher than the trough that was reached in April 2009. Commenting on the figures, Martin Ellis, Halifax housing economist said: “An increase in the number of properties available for sale has helped … Continue reading

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First annual increase in mortgage lending for two years

Lending for house purchase showed its first annual growth in July for the first time since early 2007, according to the latest Council of Mortgage Lenders’ survey.   House purchase lending accounted for 56,000 loans totalling £7.5 billion, which was up from 47,000 loans in July last year. There was an increase in the number of loans on the previous … Continue reading

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Consumers rediscover thrift

After racking up total debts of just under £1.5 trillion, UK consumers are cutting back and borrowing less. Figures from the Bank of England show that consumers repaid loans to the tune of £600m in July, which was the first net repayment since records began in 1993.   In fact the 12-month growth rate of total net lending to individuals … Continue reading

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Mixed messages on economy

Yesterday the Halifax House Price Index for May was published and showed that prices had risen by 2.6% during the month. This followed three successive monthly falls of between 1.8% and 2.3%. Is this a sign of a much needed pick-up in the market? Well, on the surface it is good news but we must keep it in context in … Continue reading

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