The latest housing market survey from the Royal Institution of Chartered Surveyors (RICS) shows that house prices fell to an all-time historical low in March, as the effects of the global credit crisis continue to have a damaging impact on the UK property market. The survey showed that 78.5% more chartered surveyors reported a fall …
Monthly Archives: April 2008
Top 10 Most Expensive Areas in the UK for Council Tax
CIPFA the Statistical Information Service has released a report listing the top 10 most expensive areas in the UK for Council Tax Here are the results: Sedgefield Borough Council, Labour, £1,613.10 Rutland County Council, Conservative, £1,606.38 South Bedfordshire DC, Conservative, £1,593.51 Newark & Sherwood District Council, Conservative, £1,591.81 Easington District Council, Labour, £1,586.71 Royal Borough …
Mortgage Approvals Decreased in March
March 2008 has been an extremely bleak month for mortgage lending with mortgage approvals declining considerably, according to the latest data from the British Bankers Association. The major mortgage lenders reported that March has been the lowest month for all forms of mortgage approvals since September 2000. House purchase approvals were the lowest since September …
Bank of England Makes Radical Lending Move
The Bank of England today announced a radical new plan to help ease the credit crunch by loaning Banks £50 billion. It announced it would allow banks to trade mortgage-backed bonds, whose deal has become problematic, for specially-issued Treasury bills. This would result in the freeing up of banks’ balance sheets, making it possible for …
House Prices for First-Time Buyers in London Rise by 250%
New research has showed that house prices for first time London buyers have soared by over 250 per cent in the last ten years. Today the average cost of first time buyer properties is nearly £260,000. Home buyers getting on the property ladder paid an average of £159,494 for a property in 2007, a staggering …