Some positive signs for the economy

There was a 1.1% increase in the average UK house price in July, according to figures just published in the Halifax House Price Index. This was the second rise in the past three months and prices in the three months to July were 0.8% higher than in the previous three months. This means that so far this year house prices … Continue reading

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Slump in house building could become critical

The number of applications from builders to start new homes fell by almost two-thirds year-on-year during the three months from November 2008 to January 2009, according to the National House Building Council (NHBC). The NHBC also revised down its predictions for new home starts during the current financial year 2008-09 by 5,000 to 80,000. This would give a figure which … Continue reading

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House repossessions rising and house building at lowest level since records began

The number of homes repossessed in 2008 increased by 54% to 40,000 in figures just published by the Council of Mortgage Lenders. This level of repossessions accounted for 1 in 290 mortgages and the Council also reported that 1 in 53 mortgages are currently in arrears by three months or more.   This situation may be helped by the government’s … Continue reading

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