According to Savills research, whilst this weeks interest rate cut may be good news for the economy and thereby provide some comfort for homeowners, the extent of the impact on the housing market could be limited.
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170 rooms in London’s latest investment property have gone on sale.
The rooms are offered on a buy to let basis - but have one catch - they’re part of a hotel.
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The Bank of England has revealed that more mortgages were approved for house purchase in December than any month since May 2004.
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House prices have grown by 1.4% in January, bringing the annual growth rate to 4.4% according to Nationwide.
Nationwide said that increased confidence amongst buyers was a contributing factor, but it added that strong price rises were unlikely to persist in 2006.
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Halifax research published today, shows that it now takes the typical first time buyer four years to save a deposit in Wales.
First time buyers in Scotland also face an uphill struggle, taking 4 years to save a typical Scottish deposit of £15,762.
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New research from the Halifax has reported that it takes five years to save up for a deposit on a home - almost double the time it took 5 years ago.
Additionally, the number of first time buyers in the UK has reached a new 25 year low.
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A Government backed initiative designed to prevent run down homes becoming a lost cause has been viewed as a success.
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They’re just starting out their lives, but a quarter of married couples are finding it hard to get on the housing ladder according to Alliance & Leicester Mortgages.
Additionally the Alliance and Leicester Moving Index has shown that people in their 20s and 30s just can’t afford their own home.
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The Irish Central Bank has expressed its concerns on the continuing growth of the Irish house market.
In it’s first report of 2006, the Central Bank expressed worries about house price developments, rapid credit growth and a construction sector which it says it unsustainably large in the medium term.
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Mortgage lending figures for December has shown its usual end of year slowdown, according to the British Bankers’ Association (BBA).
However, whilst the figures are down from November, they were up, with gross lending of £16,935mn down by 6% compared to November’s total of £17,955mn. However, the figures are 20% higher than the £14,166mn in December 2004.
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Financial policy has left home-owners more than £10 billion a year worse off than they were in 1994, according to the Council of Mortgage Lenders.
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