CML reports 34% slump in mortgage lending in January
Latest data from the Council of Mortgage Lenders shows the continuing impact of the credit crunch, as mortgage lending in January slumped by 34% on the same period last year. The January figures, showing 50,300 loans were provided for house purchases that month, were down 19% on December.
Stamp duty must be cut to aid first time buyers – HBF
HBF has called for the stamp duty threshold to be increased to £250,000 ahead of tomorrow’s Budget announcements.
RICS survey shows near historic high in house price fall reports
The Royal Institution of Chartered Surveyors\' latest monthly survey reveals that the proportion of surveyors reporting house price falls across the country rose to a near historic high of 64.1% in February. This was an increase from the balance of 54.7% of surveyors who reported price falls in January, suggesting the situation is deteriorating.
Liberal Democrats propose hike in social housebuilding
The Liberal Democrats have used their spring conference to add their voice to calls for a major increase in social housebuilding, backing measures to build 1.3 million new social homes over the next ten years.
Bovis warns of 20% drop in volumes if tough market continues
Bovis is the last volume housebuilder to post results for 2007, and it saw turnover drop 6% during the year to £555.7 million, and a 6% reduction in pre-tax profits to £123.6 million.
Mixed reactions to HIPs trials
The public is happy with home information packs (HIPs) but agents could do more to push them through, CLG has claimed.
Concern over MPC’s interest rate decision
Industry has expressed concern over the monetary policy committee’s decision to hold interest rates at 5.25%.
Government adopts first ever nationwide brownfield strategy
The government is taking a new approach to brownfield land with the first ever comprehensive brownfield development strategy for England - the National Brownfield Strategy.
Taylor Wimpey posts pre-tax loss for 2007 following US write-downs
Taylor Wimpey\'s preliminary results for the year ending December 31 reflect slowing market conditions in the UK and US, particularly during the second half of 2007, with completions down, a significant drop in US margins, and a focus on cost reductions and synergy savings following the merger the main focus of the plc\'s forward strategy. Write-downs on US land and work in progress led to the group posting a £19.5 million pre-tax loss for the year.
Development of the Month – Wolverton Park
“We’ve tried to keep as much heritage as possible and we’re not selling to investors as we’re trying to build a community for local people”
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