House prices in the UK are still "fairly stable" despite the economy falling back into recession earlier this year, the Nationwide building society has said. The lender said prices rose by 0.3% in May, to £166,022, but this had still left them 0.7% lower than a year ago.
The Nationwide said demand for homes was low due to high unemployment. But prices were being propped up by the current dearth of new homes being built.
"Demand for homes remains subdued on the back of weak labour market conditions, but the lack of homes coming onto the market is providing support for prices," said Robert
London homes for sale are increasingly attracting interest from young professionals looking to settle down and press on with their careers, new research has shown.
Produced by Lloyds TSB, the findings revealed this group is attracted to the capital's south-west in particular, with Fulham proving the most popular option. Indeed, ten of the top 20 areas in the list are located in the city, with Wimbledon, Battersea and Wandsworth also favoured by many.
Outside London, Hove and central Brighton were earmarked as young professional hotsposts, while Didsbury in south Manchester was found to be a
If you're unable to afford a home in your area, then it's time to up sticks and head for Dudley. That's because it's the most affordable place to buy a property in the UK, according to latest research from property website Adzuna.co.uk.
The website made its affordability calculations by looking at average salaries in each area compared to property asking prices and typical mortgage multiples across the UK.
Unsurprisingly, towns in the south-east feature prominently on the list of least affordable urban centres, while the Midlands is home to many of the most affordable towns.
Private rents in England and Wales rose by 0.5% in April, according to letting agency group LSL Property Services. That pushed the average rent up to £709 a month. It was the first recorded increase for three months, and left rents 2.4% higher than a year ago.
Rents are highest in London, where they have risen by 4.5% in the past year to an average of £1,032 per month, a rise that has left them 46% higher than the national average. The figures are gathered from the rents paid on 18,000 homes.
David Newnes of LSL said the rental market had begun to "heat up" in April.
The Homebuilding & Renovating Show, Surrey will be returning to Sandown Park Race Course on the 30 June to 1 July 2012. Discover inspiration, practical tips and demonstrations, 1000’s of innovative products and free impartial advice at the biggest Southern Homebuilding & Renovating Show yet!
No matter the size, scale or stage of your build, expert advice is a must. You can speak to the panel of experts at the show to help you save money and avoid common project pitfalls.
Alongside the new guest expert, Paul Puccioni, co-writer and founder of The Building Sheriff, and currently Master Builder
Across the UK, the London property market was the only part of the country to see prices rise in April, albeit at the slowest rate since the middle of 2011, according to the latest RICS UK Housing Market survey.
While home prices are falling across much of the UK, regional declines are being counterbalanced by capital growth in London.
A shortage of new homes coming onto the market has created pent-up demand, with an excess of demand over supply especially in Prime Central London.
But while the city's super prime property markets look solid, the city's second-tier markets continue to go from
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There has been a slight increase in housing transactions in NI but prices have continued to fall, according to a survey by the Royal Institution of Chartered Surveyors (RCIS).
Greater Belfast fared best and there were signs of more sales activity at the lower end of the market.
Spring and early summer are traditionally the optimum times for buying and selling and this has contributed to the upsurge. However, it is predicted that prices will fall in the months ahead.
RICS housing spokesman Tom McClelland said it was a mixed picture.
"At the lower end of the market at least, there are increasing
More than a million home owners will see the cost of their mortgage payments increase from Tuesday. The majority of those affected are Halifax customers, who could typically find themselves paying nearly £200 extra a year, following a series of recent rate rise announcements from lenders.
The Co-operative Bank, Clydesdale Bank and Yorkshire Bank are also among those raising rates, blaming the weak economy and the increased cost of funding a mortgage.
Fears have been raised that people could struggle to switch to a better deal as lenders have already started tightening their borrowing criteria
Has your property been on the market for ages? Or are you just needing to sell quickly? Selling your property at auction is cost effective, simple, fast and stress free, so get the ball rolling and give us a ring!
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