House prices down as prices level

The house price boom has slowed across the country with some areas of London even showing drops as more sellers put their homes on the market (16th June).  Prices rose 0.1% in May according to Rightmove's latest House Price Index.  New seller prices in London showed an average drop of 0.5% in June.

Mortgage rate to rise sooner than expected

Mortgage rates will rise sooner than expected says the Bank of England (26th May).  Outgoing deputy Charlie Bean expects rates to rise in small steps to 3% by 2017.  Mortgage lenders are rationing home loans but increased interest rates will benefit savers.

House prices up 17% in London

House prices in London soared 17% in the year ending March with prices up nearly 5% in other regions according to the Office for National Statistics (20th May).  

Action planned as house prices rocket

Action should be taken to cool the housing market says Bank of England Governor, Mark Carney today (19th May).  He says that it is threatening to damage the UK economy after figures from Rightmove  revealed the average price for a home in England in Wales is over £272,000 - up over £9,400 on the previous month.  Capping mortgages and reining in the Help to Buy Scheme are on the cards.

FTSE 100 at 14 year high

The FTSE 100 hit a 14 year high today (13th May) finishing at 6873.08 with some market experts predicting it will climb further as the economy improves further.

CBI says rates to rise sooner

The CBI has forecast that interest rates will go up in the first quarter of 2015 - earlier than anticipated.  It was thought that rates would be kept low until after the next general election in May 2015 but the buoyant house market could force the issue.

House prices to rise 6% annually for five years

House prices will increase six per cent per annum for the next five years the Royal Institute of Chartered Surveys predicts today (8 May).  Demand for property rose in April but supply has fallen further pushing up prices.

Economy grows says ONS

The economy grew by 0.8% in the first quarter of 2014 figures from the Office of National Statistics reveal today (29th April).

First time buyers at 7 year high

First time buyers reached their highest monthly figure since 2007 according to LSL Property Services (25th April).  The peak has been credited to the Government's Help to Buy scheme. David Newnes says:  "Help to Buy has allowed the bottom of the market to stay buoyant."

First time buyers pay £192,000 - up 10.5% in year

The Office of National Statistics say that first time buyers pay on average £192,000 - up 10.5% compared to a year ago (20th April).  This is the biggest increase in over four years despite wages growing less than the rate of inflation.