NHBC reveals 30% drop in new housing starts
NHBC has revealed that the number of housing starts in the UK dropped by 30% year-on-year during the first quarter of 2008.
95% of surveyors reporting house price falls – RICS
The percentage of chartered surveyors reporting a fall in house prices rather than a rise has increased further, but the shrinking mortgage market is of more concern, the Royal Institute of Chartered Surveyors (RICS) has reported.
Government reveals plans for struggling home owners
The chancellor and housing minister have announced a £10 million package of measures to assist home owners in difficulty with their mortgages.
Government brings measures to improve HIPS
The government has announced a package of measures to help improve home information packs (HIPS) on the back of yesterday’s decision to delay the roll-out to the end of the year.
Credit crunch hits builders’ merchants sales
Sales of building materials at builders’ merchants across the UK fell by 3.1% during the first quarter of 2008, the Builders Merchants Federation (BMF) has reported.
Industry disappointed at rate hold decision
Industry stakeholders have expressed disappointment at the Bank of England monetary policy committee’s (MPC) decision to hold the base rate at 5%, resisting industry calls to help the market and boost consumer confidence by cutting rates by a quarter percent.
HIPs roll-out to be delayed – again
The planned roll-out of home information packs (HIPs), which was scheduled for the beginning of June, has been put back to the end of the year as the level of transactions in the housing market continue to fall.
HBF urges interest rate cut
The Home Builders Federation is urging the monetary policy committee (MPC) to vote in favour of a cut in the base rate of at least 0.5% at tomorrow’s meeting, to “help restore both lender and buyer confidence and get some fluidity back into the housing market.”
Consumer sentiment falling – Nationwide
Nationwide\'s latest monthly survey of consumer confidence concludes that sentiment is at its lowest level since May 2004.
RICS urges mortgage lenders to clarify terms
The Royal Institution of Chartered Surveyors (RICS) is calling for mortgage lenders to issue accurate guidance on lending terms and minimum loan-to-value ratios, in a bid to restore consumer confidence.
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