Starts down 6% in 2007 but completions rising – CLG
Latest statistics from Communities and Local Government (CLG) reveal that new housebuilding starts in England fell to a total of 37,900 during the last quarter of 2007, down 10% on the equivalent quarter in 2006. The estimate of starts for 2007 stood at 166,900, a decline of 6% in comparison with 2006.
Rising inflation makes sharp rate cuts unlikely - Mervyn King
Bank of England governor Mervyn King has issued his quarterly report with hints that interest rates will not be cut as sharply as some have hoped, due to inflationary pressures.
Lib Dems speak out against floodplain housebuilding
Liberal Democrat shadow housing minister Lembit Opik has spoken out against the government\'s plans for millions of new homes to be built on floodplains in areas such as the Thames Gateway.
Goldman Sachs downgrades UK market forecast
Goldman Sachs has downgraded its housing market forecast for 2008 and 2009, predicting that prices will fall by around 5% this year, and a further 2% the following year. The bank had originally predicted a 3% fall in 2008.
Housing Design Awards: March 14 deadline for entries
The 2008 Housing Design Awards are celebrating their diamond jubilee year and developers are encouraged to submit their entries by March 14.
Landlords’ Federation welcomes private rented sector review
The National Federation of Residential Landlords (NFRL) has welcomed the government’s plans to undertake a review of the private rented sector, the terms of which were announced by new housing minister Caroline Flint last week.
RICS reports pessimistic outlook among agents
The latest survey from the Royal Institution of Chartered Surveyors (RICS) reveals that the outlook for the market among agents is the most pessimistic it has been since the question was first introduced into its monthly survey in 1998. A balance of 56% of respondents to the January survey reported house price falls in their areas, with just 2% reporting a rise.
6% fall in private housing construction orders – BERR
Latest figures from the department for Business, Enterprise and Regulatory Reform (BERR) reveal that construction orders for private sector housing work were down 6% in 2007 on the previous year, and figures for the last quarter of the year were down 11% on the same quarter in 2006.
Front gardens frontline in DEFRA flood prevention move
Government has announced plans to prevent home owners from concreting over their front gardens in a bid to reduce risks of urban flooding.
Mortgage lenders move to pass on rate cut
The nation’s mortgage lenders have pledged to pass on the Bank of England’s quarter point rate cut, which was announced yesterday, in a bid to ease lending conditions and ease conditions for mortgagees. HSBC, HBoS, Barclays, Lloyds and Nationwide all pledged to reduce their standard variable rate: the move will reduce a £100,000 mortgage by around £16 a month.
News Alerts
Don't miss out on another important news story get important news alerts right to your inbox.
