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Tuesday, July 31
Average house price £460,000 by 2025
by
Jet-to-Let Magazine
on Tue 31 Jul 2007 17:24 BST
An average house will cost £460,000 in 2025, 2.4 times as much as it does today, according to a report by the centre for economics and business research (cebr). The Consumer and Housing Prospects report said if the government met its target for building new homes, house price inflation would ... more »
Rate rises fail to slow homes market
by
Jet-to-Let Magazine
on Tue 31 Jul 2007 17:22 BST
The housing market slowdown has still not yet arrived, despite fixed-rate mortgages climbing to the highest level since the turn of the millennium, according to new Bank of England figures. The Bank's own data shows that during June mortgage lending rose at the fastest rate in three months, despite evidence ... more » Friday, July 27
Economists slash Irish house price forecasts
by
Jet-to-Let Magazine
on Fri 27 Jul 2007 17:28 BST
Irish economists have chopped their forecasts for 2007 house price growth for the second month in a row as the country's property market cools after a decade of jaw-dropping gains, a Reuters survey showed on Thursday. It also showed a small downward revision in expectations for gross domestic product growth ... more »
US economy beats forecasts
by
Jet-to-Let Magazine
on Fri 27 Jul 2007 17:26 BST
The US economy expanded faster than expected in the second quarter, growing by an annual rate of 3.4pc.
The figures showed the economy staging an impressive rebound from the first three months of the year, when GDP grew by just 0.6pc, prompting fears of a recession. Signs the US economy ... more » Thursday, July 26
House price inflation slips below 10%
by
Jet-to-Let Magazine
on Thu 26 Jul 2007 17:28 BST
House price inflation in the UK slipped below 10% this month as higher interest rates took their toll on the property market, Nationwide building society said today.
Reporting the smallest increase in house prices for more than a year, the Nationwide said the annual rise in the cost of a ... more » Wednesday, July 25
Northern Rock predicts house price slowdown
by
Jet-to-Let Magazine
on Wed 25 Jul 2007 17:33 BST
UK's fifth largest mortgage lender says the residential borrowing market is still strong, but pricing will start to cool. Northern Rock said today that UK mortgage lending was robust but admitted that it expects a slowdown in house prices during the second half of the year. The bank announced that ... more »
Nationwide offers flood advice for homeowners affected by floods
by
Jet-to-Let Magazine
on Wed 25 Jul 2007 17:30 BST
With more flooding expected this weekend, Nationwide Building Society offers tips for homeowners who could be affected. Tuesday, July 24
Govt unveils £8bn housing plans
by
Jet-to-Let Magazine
on Tue 24 Jul 2007 16:57 BST
The government has announced details of an £8 billion investment in the housing market as it seeks to build tens of thousands of new homes. Aimed at first-time buyers, the reforms are designed to improve the supply of housing, meaning more people can get on to the property ladder. Housing ... more »
Bank of England Governor ‘wants house prices in inflation’
by
Jet-to-Let Magazine
on Tue 24 Jul 2007 16:47 BST
The Governor of the Bank of England has admitted he is 'surprised' that rising house prices are not included in the official inflation figures, according the BBC. Mervyn King told Radio 4's Money Box programme that he wished the Consumer Prices Index (CPI) – the measure that tracks the cost ... more » Monday, July 23
Bank must not 'squeeze economy'
by
Jet-to-Let Magazine
on Mon 23 Jul 2007 17:30 BST
The Bank of England's monetary policy committee (MPC) faces a balancing act, an influential forecast group says. The Ernst & Young Item Club says the strong housing market must be closely watched, but the MPC must not rush into "damaging" interest rate rises. It is predicting strong GDP growth of ... more » Friday, July 20
Halifax ups house price forecast
by
Jet-to-Let Magazine
on Fri 20 Jul 2007 17:28 BST
Halifax, the UK's biggest mortgage lender, has raised its house price inflation forecast for the year from 4% to 6%, despite higher interest rates. Halifax is part of the HBOS group and made the change after house prices rose faster in the first six months of the year than it ... more »
Invest 50% Below Market Value, only in the next 5 minutes – Hurry!
by
Jet-to-Let Magazine
on Fri 20 Jul 2007 13:58 BST
Dear Investor Yes I thought you would open this one! I often come across property sales companies offering me and their clients properties 20% or 30% or 40% and indeed 50% discount to market value. I must admit that this sales and marketing technique, which in the main is what ... more »
Annual Property Investment Conference to be held in London
by
Jet-to-Let Magazine
on Fri 20 Jul 2007 13:23 BST
Jet to Let Magazine’s Annual Property Investment Conference will be held on Saturday 8th September 2007, at The Hilton Attendance to the inaugural conference is open to anyone, and is aimed at investors wanting to take advantage of the strong returns available from well-targeted overseas property investments. ... more » Thursday, July 19
Brokers predict strong growth for 100% LTV mortgage
by
Jet-to-Let Magazine
on Thu 19 Jul 2007 17:27 BST
Research by Alliance & Leicester Mortgages reveals that more than three quarters (78%) of brokers predict the 100% plus LTV mortgage and personal loan market will grow within the next two years. Overall, brokers expect business volumes in the combined mortgage and personal loan market to grow by 9.4 per ... more »
Think before you sign – Government issues flood insurance warning
by
Jet-to-Let Magazine
on Thu 19 Jul 2007 17:25 BST
Floods Recovery Minister John Healey has urged people in flood-hit communities to seek free and impartial insurance advice before signing up with third parties who offer to help settle insurance claims. Publishing information setting out how people can access free insurance advice he warned that accepting help from third parties ... more »
UK economy grows for 60 consecutive quarters
by
Jet-to-Let Magazine
on Thu 19 Jul 2007 17:23 BST
The Office of National Statistics will NS will this week publish its preliminary GDP estimate for 2007 Quarter 2. These figures are expected to confirm that the UK economy has grown for an unprecedented 60th successive quarter. No other OECD economy can match the UK's unbroken 15 years of positive ... more »
CML reports highest mortgage lending on record
by
Jet-to-Let Magazine
on Thu 19 Jul 2007 17:21 BST
Gross mortgage lending reached a new record of £34.2 billion in June - up from £31.4 billion in May - according to data from the Council of Mortgage Lenders. This is due to seasonal effects and borrowers’ response to higher interest rates. Although lending in June was up by 9% ... more »
Fed raises stagflation fears
by
Jet-to-Let Magazine
on Thu 19 Jul 2007 17:19 BST
Ben Bernanke, the chairman of the US Federal Reserve, has painted a gloomy picture of slowing growth and rising inflation, causing a sharp sell-off on Wall Street as investors sniff a nasty whiff of stagflation. Wednesday, July 18
Agents report subdued housing market
by
Jet-to-Let Magazine
on Wed 18 Jul 2007 16:54 BST
The National Association of Estate Agents (NAEA) released figures from its latest housing market survey today, revealing a slightly subdued residential housing market in June, as consumers demonstrated apprehension about the coming month’s economic developments. Both registered buyers and the number of properties on estate agents’ books decreased slightly in ... more »
House price inflation ‘more than halves’
by
Jet-to-Let Magazine
on Wed 18 Jul 2007 16:42 BST
House price growth eased in June to half the pace of the previous month and demand weakened due to the impact of rate hikes, says the RICS UK Housing Market Survey. House prices rose for the 20th consecutive month in June but the rate of growth more than halved, falling ... more »
Buy to Let investors hail profits increase
by
Jet-to-Let Magazine
on Wed 18 Jul 2007 16:38 BST
New research from Birmingham Midshires shows that the average total return for a buy to let (BTL) investor was 13.0% over the past year to June 2007 (exclusive of fees and mortgage interest costs). This is up slightly from a total return of 11.9% for the year to June 2006. ... more » Tuesday, July 17
Survey shows a market full of dissatisfied householders
by
Jet-to-Let Magazine
on Tue 17 Jul 2007 17:45 BST
Savills research has today released findings from its UK Housing Market Survey, which shows a market full of dissatisfied householders wanting bigger, better homes who are constrained by high prices and a lack of supply. The survey was sent to a random sample of nearly 500 households across the UK ... more »
Torrential rain causes acute shortage of rental properties in flood affected areas
by
Jet-to-Let Magazine
on Tue 17 Jul 2007 17:43 BST
The aftermath of the recent weeks nationwide flooding can now be seen in full pelt with an estimated 27,000 homes and 5,000 businesses* having been affected by the torrential rains that swept across the UK. Additionally, it is believed that the cost of damage to homes in the UK could ... more »
CIH to Lead Research on Management of Land Supply
by
Jet-to-Let Magazine
on Tue 17 Jul 2007 17:41 BST
New research will contribute to meeting the target of 3 million new homes by 2020, announced by Gordon Brown last week. The work will help key players in delivery of new affordable housing to increase the speed and output of development by better managing the supply of land. The Housing ... more »
Homeowners warned: more mortgage rate rises are on the way
by
Jet-to-Let Magazine
on Tue 17 Jul 2007 17:38 BST
Millions of homeowners are facing further mortgage misery. Economists said today another increase in the cost of borrowing is almost certain and could come next month.
It would be the sixth since last August and take the Bank of England's base rate from its present 5.75 per cent to six ... more »
Inflation dips but stays in the danger zone
by
Jet-to-Let Magazine
on Tue 17 Jul 2007 17:35 BST
UK inflation eased lower last month, thanks to a fall in utility bills. But price pressures in the underlying data mean the Bank of England is still likely to raise interest rates in the coming months, analysts said, with another rate hike possible as early as next month. Consumer Price ... more » Monday, July 16
RIBA in call for ‘bigger and better’ homes
by
Jet-to-Let Magazine
on Mon 16 Jul 2007 17:08 BST
The Royal Institute of British Architects (RIBA) is calling for the introduction of minimum space standards for all new homes in England and Wales – a crucial anomaly which sees England and Wales lagging behind the rest of the EU and even Japan. The proposal is a significant element of ... more »
Buy-to-let delivers 13% annual return
by
Jet-to-Let Magazine
on Mon 16 Jul 2007 17:05 BST
Buy-to-let investors made healthy returns of 13% in the past year thanks to rising house prices bolstering falling rental returns, according to a new report. Landlords saw their properties' value rise by an average of 7.3%, while receiving an average of 5.5% of its value in rent in the year ... more »
House price growth 'slowing down'
by
Jet-to-Let Magazine
on Mon 16 Jul 2007 17:01 BST
The brakes are still on in the Northern Ireland housing market, the latest study has indicated. Houses are no longer being sold in a matter of days with prices 25% over the asking price, the report suggests. The RICS (Royal Institution of Chartered Surveyors) and Ulster Bank housing survey suggests ... more »
Dominic Farrell - Jet-to-Let Conference
by
Jet-to-Let Magazine
on Mon 16 Jul 2007 13:50 BST
Dear Investor, I hope you had a great weekend and managed to catch the up with the sun when it made its annual appearance for 5 minutes at precisely 1.25pm. Alas, the British weather! We had a tremendous response to the e-newsletter last week promoting the Jet-to-Let Magazine Conference Saturday 8th ... more » Friday, July 13
Housing is the ‘Major Polluter’
by
Jet-to-Let Magazine
on Fri 13 Jul 2007 17:28 BST
With over a quarter of all UK CO2 emissions (27%) coming from houses, the Chartered Institute of Housing (CIH) has challenged the Government to take action to help people make changes to their homes.
Following environmentalist and broadcaster Dick Strawbridge’s keynote presentation at the CIH’s Annual UK Conference and Exhibition, ... more »
House price inflation more than halves
by
Jet-to-Let Magazine
on Fri 13 Jul 2007 17:24 BST
House price growth eased in June to half the pace of the previous month and demand weakened due to the impact of rate hikes, says the RICS UK Housing Market Survey.
House prices rose for the 20th consecutive month in June but the rate of growth more than halved, falling ... more »
‘1 in 5’ chance of house price crash
by
Jet-to-Let Magazine
on Fri 13 Jul 2007 17:22 BST
There is a one in five chance the housing market will crash in the next two years, according to new research by a leading bank. Bank of America reckons house prices are 20 percent overvalued and there are now signs that the market is peaking. "Leading indicators and our own ... more »
Bank of Japan votes against interest rate rise
by
Jet-to-Let Magazine
on Fri 13 Jul 2007 08:29 BST
The Bank of Japan on Thursday voted 8-1 to leave interest rates unchanged. Analysts were divided as to whether the vote meant the bank was less likely to lift rates to 0.75 per cent at its next meeting in August. Bond and currency markets barely budged after the meeting while ... more » Thursday, July 12
Dollar falls again amid growing US fears
by
Jet-to-Let Magazine
on Thu 12 Jul 2007 17:25 BST
The dollar remained under strong pressure on the foreign exchange markets last night as fresh concerns were raised about the vulnerability of Wall Street to the crumbling American housing market.
Lender answers 25-year loan call
by
Jet-to-Let Magazine
on Thu 12 Jul 2007 17:22 BST
Nationwide has relaunched its 25-year fixed-rate mortgage, after the government said it wanted to see more long-term mortgages on offer. Borrowers will be able to fix their interest rate at 6.39% for the full 25-year term. The Nationwide said the mortgages provided a mixture of "stability and flexibility" for borrowers. ... more »
Empty homes exacerbate housing supply issue
by
Jet-to-Let Magazine
on Thu 12 Jul 2007 17:20 BST
420,000 dwellings stand empty in a state of disrepair – equivalent to more than the number of households in Birmingham – according to the most recent research by propertyfinder.com. Meanwhile, the recent Barker report states that there is a shortfall of 600,000 homes for England’s current needs, let alone predicted ... more »
Barratt upbeat despite tight market
by
Jet-to-Let Magazine
on Thu 12 Jul 2007 17:18 BST
Barratt Developments has warned that the property market will "tighten" but remains confident, reporting a 15pc rise in reservations and predicting "robust" pre-tax profits. The housebuilder, which acquired rival Wilson Bowden earlier this year, has joined some of its peers in admitting that, "going forward it would be prudent to ... more »
Yen slips after BoJ holds rates
by
Jet-to-Let Magazine
on Thu 12 Jul 2007 12:16 BST
The yen struggled on Thursday after the Bank of Japan voted 8-1 in favour of leaving interest rates on hold at 0.5 per cent. That only one member of the rate-setting committee voted for a 25 basis points increase came as a surprise, and raised doubts over widely-held expectations of ... more »
The iron currency
by
Jet-to-Let Magazine
on Thu 12 Jul 2007 09:51 BST
Wednesday, July 11
Brown pledges 3m new homes
by
Jet-to-Let Magazine
on Wed 11 Jul 2007 17:15 BST
Gordon Brown today put housing at the heart of his first legislative programme as he promised 3m additional homes by 2020. The new premier broke with tradition by outlining his plans for the next parliamentary session ahead of the Queen's speech, with a Commons statement that increased the government's existing ... more »
Britons 'clueless' on overseas property laws
by
Jet-to-Let Magazine
on Wed 11 Jul 2007 17:07 BST
Britons considering buying a second home abroad are largely oblivious of the local housing laws that would affect them, a survey has shown. New research claims that 51% of 35 to 44-year-olds would not consider local planning regulations when in the market for an overseas property. Foreign Currency Direct, which ... more »
Overall house price growth to ‘slow’ in 2007
by
Jet-to-Let Magazine
on Wed 11 Jul 2007 17:02 BST
According to Nationwide’s quarterly index, all regions of the UK have witnessed growth in the second quarter of 2007. House prices in parts of Northern Ireland are now on a par with London, but growth has dropped from the all-time record high of the first quarter. As illustrated in the ... more »
UK sub-prime mortgage market set to grow
by
Jet-to-Let Magazine
on Wed 11 Jul 2007 16:59 BST
The sub-prime mortgage market is set to grow as an increasing number of borrowers struggle with making payments in the mainstream credit market, a report says. Gross advances in sub-prime lending -- sums lent to individuals at the least creditworthy end of the credit spectrum -- rose 28 percent to ... more » Tuesday, July 10
Fixed rates more popular as affordability worsens
by
Jet-to-Let Magazine
on Tue 10 Jul 2007 16:48 BST
With the issue of long-term fixed-rate mortgages high on the political agenda, new data from the Council of Mortgage Lenders (CML) shows that the appetite for short-term fixed-rate deals is still strong among first-time buyers and home movers. The survey revealed that 89% of first-time buyers and 73% of home ... more »
Effective planning system ‘essential’
by
Jet-to-Let Magazine
on Tue 10 Jul 2007 16:40 BST
An effective planning system is vital in order to respond to the current housing crisis in the UK, according to Galliford Homes. Whilst John Prescott may have only been giving permission to developers for green belt land to be built under special circumstances, Chris Coates, a Managing Director of Galliford ... more »
House prices stagnate in Northern England
by
Jet-to-Let Magazine
on Tue 10 Jul 2007 16:37 BST
Nationwide’s quarterly assessment of housing market illustrates stark regional differences in price growth. The North-South divide in house prices continues to widen, according to a report published today, as buoyant conditions in London and the South East drive prices ever higher while property values stagnate in northern cities such as ... more »
Mortgage shake-up to tackle homes crisis
by
Jet-to-Let Magazine
on Tue 10 Jul 2007 16:24 BST
Ministers plan to shake-up Britain's mortgage market as part of a three-pronged approach to tackle the crisis in affordable housing that is posing a threat to the economy and triggering a political backlash, the chancellor, Alistair Darling, said last night. Monday, July 9
Rate hike hits homeowners hard
by
Jet-to-Let Magazine
on Mon 09 Jul 2007 17:06 BST
Homeowners will find it harder to make ends meet after the latest interest rate rise. Homeowners with a typical £100,000 mortgage will have to pay £80 more on monthly repayments than they did last summer because of the latest interest rate hike. The Bank of England's move will - if ... more »
New jobs hint at US recovery
by
Jet-to-Let Magazine
on Mon 09 Jul 2007 17:01 BST
The United States added 132,000 new jobs last month, suggesting the economy is continuing to bounce back after weakness earlier in the year and despite the current housing market doldrums. The gains in previous months were also revised sharply higher, but in welcome news, average hourly earnings rose just $0.06 ... more »
Cost of fixed rate mortgages set to rise sharply
by
Jet-to-Let Magazine
on Mon 09 Jul 2007 16:57 BST
The cost of fixed rate mortgages looks set to rise sharply next week after banks and building societies started withdrawing products in response to Thursday's bank rate rise. Mortgage brokers were today reporting that several big-name lenders including Abbey and Alliance & Leicester had withdrawn all or some of their ... more »
Dominic Farrell - Robert Kiyosaki & South Larnaca Golf and Spa Resort
by
Jet-to-Let Magazine
on Mon 09 Jul 2007 13:45 BST
Dear Investor, It’s been a few weeks since the last e-newsletter. Over that time I have been on and off aeroplanes, had an enjoyable day with a wealth club I speak to and also, with my staff and a couple of friends, ran a 3 day investment seminar in London ... more »
Migration of money to projects overseas
by
Jet-to-Let Magazine
on Mon 09 Jul 2007 09:27 BST
Investors who feel the UK property market is running out of steam can tap into an increasing number of overseas funds, which are springing up to offer exposure to property markets as diverse as Vietnam and Cambodia, Macedonia and Malta. The last two years have seen around £7bn of equity ... more » Friday, July 6
Third of FTB income goes on mortgage
by
Jet-to-Let Magazine
on Fri 06 Jul 2007 15:43 BST
First-time buyers (FTBs) are now paying almost a third of their total household take-home income on their mortgages, according to Woolwich. In some parts of London the mortgage burden for people in their 20s has risen to almost 50 per cent of take-home income. The huge cost of borrowing to ... more »
Parliament to discuss licensing of estate agents
by
Jet-to-Let Magazine
on Fri 06 Jul 2007 15:41 BST
An Early Day Motion calling for all estate agents to be licensed has been tabled by Sheffield MP Clive Betts. ‘Whilst I welcome that the Consumers, Estate Agents and Redress Bill will provide a mandatory redress scheme, I feel it would be far better if we had a mandatory licensing ... more »
London house prices flat in June
by
Jet-to-Let Magazine
on Fri 06 Jul 2007 15:39 BST
London house prices remained muted in June due to the rise in interest rates, with average house prices increasing by only 0.7% from £264,801 to £266,710. The latest data from Haart estate agents revealed that buyers have become increasingly price sensitive in anticipation of further interest rise. Year on year ... more »
Rates 'boost' for buy-to-let sector
by
Jet-to-Let Magazine
on Fri 06 Jul 2007 15:36 BST
Rising interest rates are boosting the buy-to-let sector as first-time buyers are priced out of the market, says a new report. Five interest rate hikes in the past year, combined with rising property prices, are making it easier for landlords to let their properties, as would-be buyers have to settle ... more » Thursday, July 5
UK interest rates raised to 5.75%
by
Jet-to-Let Magazine
on Thu 05 Jul 2007 17:30 BST
The Bank of England has raised UK interest rates from 5.5% to 5.75%, its fifth rate rise since last August.
Its Monetary Policy Committee (MPC) warned that inflation remains a danger, saying "most indicators of pricing pressure remain elevated". Some analysts have taken that to mean there may be a ... more » Tuesday, July 3
CAB report is ‘unrepresentative’
by
Jet-to-Let Magazine
on Tue 03 Jul 2007 17:23 BST
The Residential Landlords Association - one of the UK's leading professional organisations for private sector landlords - has hit back at an "unrepresentative" new report from the Citizens' Advice Bureau. The CAB argues that many private tenants put up with poor housing through fear because some landlords evict tenants in ... more »
UK economy still growing strongly
by
Jet-to-Let Magazine
on Tue 03 Jul 2007 17:21 BST
Consumer spending remained strong during the first quarter of the year. The UK economy grew at an annual rate of 3% in the first quarter of the year, higher than most other major economies.
New law will ‘clean up Spanish property industry’
by
Jet-to-Let Magazine
on Tue 03 Jul 2007 17:19 BST
A new Spanish law brought into force on the 1st July has been designed to bring greater transparency to the planning system and increase confidence in the Spanish property industry. This new Spanish law, which covers the Land Legal System, Property Valuation, and Citizens Rights and Duties, will address the ... more » Monday, July 2
Housing market sentiment may be turning, survey warns
by
Jet-to-Let Magazine
on Mon 02 Jul 2007 17:10 BST
House prices in June grew at the slowest rate since December as rising interest rates caused the booming London market to steady slightly, according to a survey released this morning.
Hometrack, the property research company, said that June house prices rose by 0.3pc month-on-month, which is half the increase seen ... more »
Housing is the Major Polluter
by
Jet-to-Let Magazine
on Mon 02 Jul 2007 17:07 BST
With over a quarter of all UK CO2 emissions (27%) coming from houses, the Chartered Institute of Housing (CIH) has challenged the Government to take action to help people make changes to their homes.
Following environmentalist and broadcaster Dick Strawbridge’s keynote presentation at the CIH’s Annual UK Conference and Exhibition, ... more »
Lenders 'taking advantage of first-time-buyers'
by
Jet-to-Let Magazine
on Mon 02 Jul 2007 17:05 BST
First-time buyers are being caught out by mortgage lenders' propensities to offer valuation-free deals - only to re-coup their losses by upping the rate of interest on the products in question. According to price comparison website Moneyfacts, lenders are taking advantage of the fact that many first-time buyers are unable ... more »
Bank of England set to raise rates
by
Jet-to-Let Magazine
on Mon 02 Jul 2007 17:00 BST
The Bank of England is expected to raise interest rates this week for the fifth time in a year as it battles to curb price pressures in the fast-growing economy. A Reuters poll shows 56 of 70 economists expect rates to rise to 5.75 percent on Thursday and almost half ... more » Friday, June 29
Housing quality and consumer rights to improve
by
Jet-to-Let Magazine
on Fri 29 Jun 2007 17:28 BST
The OFT study into house building in the UK should focus more on the poor quality, rather than the current problems in housing stock, claims New Build Inspections. The OFT study investigating the £20bn house building industry aims to improve consumer satisfaction and increase the number of new homes. However, ... more »
Ireland to abolish stamp duty for first-time buyers
by
Jet-to-Let Magazine
on Fri 29 Jun 2007 17:26 BST
Irish Finance Minister Brian Cowen on Wednesday published proposed legislation that will exempt first-time house buyers from paying a stamp duty levy on their new homes. The bill, which Cowen hopes to get enacted before lawmakers begin their summer break on July 5, will end months of uncertainty that analysts ... more »
Mortgage approvals up but lending slows
by
Jet-to-Let Magazine
on Fri 29 Jun 2007 17:24 BST
Mortgage approvals rose in May for the first time since January but lending secured on dwellings slowed unexpectedly, notching its smallest increase in more than a year, official data shows. The mixed signals on the housing market are unlikely to alter expectations that the Bank of England will raise interest ... more »
Europe to fight Spanish land grab laws
by
Jet-to-Let Magazine
on Fri 29 Jun 2007 17:22 BST
Embattled Spanish homeowners have taken a major step forward in their fight against land grab laws after the European Commission launched legal action against Spain's controversial legislation. Houses owned by foreigners in Valencia, many of them British, have been demolished or left virtually worthless by property developers exploiting the rules. ... more » Thursday, June 28
Bank chief: 'Rates must go up next week'
by
Jet-to-Let Magazine
on Thu 28 Jun 2007 17:20 BST
Interest rates need to rise next week to help head off an unsustainable boom in the City and the property market, one of Britain's most senior bankers warned last night.
House price growth 'bounces back'
by
Jet-to-Let Magazine
on Thu 28 Jun 2007 17:05 BST
UK house price inflation "bounced back" in June with prices rising by 1.1%, according to the latest survey from the Nationwide building society. The stronger-than-expected increase lifted the annual rate of growth to 11.1% from 10.3% in May. Nationwide said prices were rising more than twice as fast as last ... more »
UK In Danger of ‘Warehousing’ the Poor
by
Jet-to-Let Magazine
on Thu 28 Jun 2007 17:02 BST
Academic Professor John Hills issued a stark warning that social housing could end up simply ‘warehousing the poor’ if issues of inequality and worklessness are not tackled. Following publication of his influential report in February 2007, Ends and means: the future roles of social housing, Professor Hills used the conference ... more » Wednesday, June 27
IMF warns of inflation pressures as it raises world growth forecasts
by
Jet-to-Let Magazine
on Wed 27 Jun 2007 17:28 BST
The long boom may not be over. Even though 2007 will be the fifth consecutive year of world growth in excess of 4 per cent - and thus the longest period of sustained expansion in three decades - the signs are that it may have further to run, but with ... more »
Rates too low, Bank deputy says
by
Jet-to-Let Magazine
on Wed 27 Jun 2007 17:20 BST
UK interest rates are too low and are helping to drive demand for loans and credit, Sir John Gieve, deputy governor of the Bank of England, has said. Speaking in Guildford, Surrey, Sir John explained why he was one of four rate setters who voted to raise interest rates at ... more »
US New home sales fell 1.6 percent in May
by
Jet-to-Let Magazine
on Wed 27 Jun 2007 17:18 BST
Sales of new U.S. homes fell 1.6 percent in May to a lower-than-expected level while prices climbed from April, according to a government report on Tuesday that continued to point to weakness in the housing sector. New single-family home sales fell to an annual rate of 915,000 from a revised ... more » Tuesday, June 26
FTBs in offset mortgage charge
by
Jet-to-Let Magazine
on Tue 26 Jun 2007 17:02 BST
Offset mortgages have surged in popularity, new figures from the Council of Mortgage Lenders reveal. During 2006 170,000 offset mortgages were taken out, worth £29.3 billion - equivalent to 7% of all new lending. And, the year-on-year growth of offset mortgages between April 2006 and March this year was 49% ... more »
ABI offers advice to homeowners hit by flash floods
by
Jet-to-Let Magazine
on Tue 26 Jun 2007 16:58 BST
Many homeowners have been affected by the recent severe weather and floods seen across the country. The damage caused so far is expected to cost millions of pounds, and the average flood-related insurance claim will be in the region of £20,000. Additionally, homeowners who fail carry out repairs in the ... more »
US home builder posts loss, says housing market may worsen
by
Jet-to-Let Magazine
on Tue 26 Jun 2007 16:55 BST
Lennar Corp., the second-largest U.S. home builder, posted a quarterly loss on Tuesday, forecast a loss in the current quarter and warned that the housing market could deteriorate further. "As we look to our third quarter and the remainder of 2007, we continue to see weak, and perhaps deteriorating, market ... more »
US home sales hit new low
by
Jet-to-Let Magazine
on Tue 26 Jun 2007 16:52 BST
Sales of existing homes in the US fell to their lowest in almost four years last month as price reductions by sellers proved insufficient to tempt large numbers of buyers into the market, data showed today. The National Association of Realtors said sales dropped 0.3% month-on-month to an annualised total ... more » Monday, June 25
Tax call for buy-to-let homes
by
Jet-to-Let Magazine
on Mon 25 Jun 2007 17:27 BST
Tax changes to discourage people buying property to let it out have been called for by a housing body. The Chartered Institute of Housing says there is a crisis in affordable housing in the UK. It blames the tax relief given to buy-to-let landlords on the interest paid on their ... more »
Hips fiasco causing ‘chaos’
by
Jet-to-Let Magazine
on Mon 25 Jun 2007 17:19 BST
The rush to beat the information packs deadline means thousands of homes put up for sale are suddenly available to let. The government's confusion over home information packs (Hips) has thrown the buy-to-let market into chaos in many parts of the country. Many of those who put their properties up ... more »
Negative equity stalks homeowners
by
Jet-to-Let Magazine
on Mon 25 Jun 2007 17:11 BST
The grim spectre of negative equity is rearing its ugly head again as thousands of borrowers take out new, bigger loans... In part, the trend is being driven by leading lenders luring first-time buyers with offers of loans worth anything from 100 to 125% of the price of a house. ... more »
‘Bank’s bank’ calls for higher interest rates
by
Jet-to-Let Magazine
on Mon 25 Jun 2007 17:06 BST
Higher interest rates may be needed to rein in inflation and ensure that global imbalances are kept under control, the world's central bank warned yesterday. Friday, June 22
House sales matching 1980s boom
by
Jet-to-Let Magazine
on Fri 22 Jun 2007 17:37 BST
The number of properties being sold in England, Wales and Northern Ireland has reached its highest level since the property boom of the late 1980s. Figures from HM Revenue and Customs (HMRC) show that 1,859,000 flats and houses were sold in 2006-07. That was the largest number sold since 1988, ... more » Thursday, June 21
Swedish central bank raises rates
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Jet-to-Let Magazine
on Thu 21 Jun 2007 11:36 BST
The Riksbank also raised its medium-term interest rate forecast to 4.4 per ... more » Tuesday, June 19
New US homes see decline in May
by
Jet-to-Let Magazine
on Tue 19 Jun 2007 17:28 BST
The number of new US homes built in May fell more than many analysts expected, according to official figures. The Commerce Department said that the number of new homes built dropped by 2.1% in May, after rising 1% in April. However, while construction fell to 1.47m units there are signs ... more » Monday, June 18
London House Prices Cooling
by
Jet-to-Let Magazine
on Mon 18 Jun 2007 17:19 BST
House price growth in the UK capital is showing signs of slowing down, according research carried out by Rightmove. Whilst the national asking price trend rose by a modest 0.8%, London has fallen slightly behind, and half of all London boroughs have shown a fall in prices. The end of ... more »
Fuel pushes up US inflation rate
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Jet-to-Let Magazine
on Mon 18 Jun 2007 17:17 BST
US inflation rose faster than expected in May, as higher petrol costs hit consumer prices. The month-on-month rise was 0.7%, the Labor Department said, up from 0.4% in April. Core inflation, which does not include food and energy, added 0.1%. The figures showed that most prices were largely being contained ... more »
Time to invest in German property?
by
Jet-to-Let Magazine
on Mon 18 Jun 2007 17:15 BST
After over a decade of being left out in the cold, recent media reports would suggest that the German property market is now one of the hottest prospects on the investment block. Is now the time to invest in German property?... Between 1996 and 2006, while other European markets such ... more »
Prospects for eurozone growth become brighter Economic Outlook
by
Jet-to-Let Magazine
on Mon 18 Jun 2007 12:28 BST
Business sentiment in Prospects for economic growth this year in Friday, June 15
HIPs fiasco hits prices
by
Jet-to-Let Magazine
on Fri 15 Jun 2007 16:07 BST
House price growth slowed in May as a raft of properties came on the market in order to avoid costs associated with the forthcoming introduction of home information packs (Hips), a new survey has revealed. Of the estate agents and surveyors questioned by the Royal Institution of Chartered Surveyors (RICS) ... more »
Home pack plan faces chaos, say surveyors
by
Jet-to-Let Magazine
on Fri 15 Jun 2007 15:56 BST
Labour's Home Information Pack fiasco sparked chaos as families rushed to sell their houses before a deadline that was abandoned Plans to introduce Home Information Packs should be scrapped, property experts will tell ministers today. The controversial project is "unworkable, unenforceable and unfair", says the Royal Institution of Chartered Surveyors. ... more »
Much of US sees 'faster growth'
by
Jet-to-Let Magazine
on Fri 15 Jun 2007 15:53 BST
Many parts of the US saw economic growth increase in April and May, despite the fallout of problems within the housing industry, a report says. The Federal Reserve's Beige Book showed that some areas of the country reported growth "somewhat faster" than that seen in recent months. Analsysts said this ... more » |
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