House Prices Page 2

Analysis and information on the changes in house prices from the Nationwide and Halifax price monitors

Negative equity is back!

Figures from the land registry show that sales of homes have plunged by up to 20% over the past year.

House prices are plunging at a rapid rate across Britain and as a result many face the financial heartache of being ‘trapped’ on expensive mortgage rates in their homes. Read more

Negative equity …..What can be done?

Massive drops in house prices now means that negative equity is a problem affecting hundreds and thousands of people, especially those who bought their homes at the peak of the property boom in 2006 to 2007.

When the credit crunch hit banks and building societies withdrew many of their mortgages and then introduced much tougher lending criteria and also required higher deposits. Read more

North South Property Divide

In the current climate rentals are at an all time high, property values however do not follow the same trend. There are widening regional gaps developing in property valuations.

The divide in the property market is particularly prominent between London and the north of England, where the gap is widening rapidly. Read more

August House Prices

House prices fell 0.6 percent in August, this more than reversed July’s rise and surprised economists who expected them to stay flat.

Nationwides chief economist, Martin Gahbauer suggests that; “the three months rate of change fell from 1.2% in July to 0% in August, suggesting that house prices have essentially stagnated over the summer. Read more

Return of Negative Equity

Approximately 3.5 million UK households can not move as they have insufficient equity in their property or they can not get a mortgage.

Research has shown that many people who bought their properties around 2007 will be in or close to negative equity and therefore unable to move even if they wished to. Read more

The Dread of Negative Equity

Average house prices have fallen by 1.7% in the past year according to land registry figures. Capital Economics predicts house prices will be 5% lower in December 2011 than in December 2010 and will fall a further 7% through out 2012.  

According to recent research published by the Council of Mortgage Lenders (CML) at least a quarter of those with mortgages originated since around 2005 have less than 10% equity in their homes. Read more

Falling House Prices in the UK

After a decade property market boom prices began to tumble in 2008 as banks began retreating from easy lending. House prices fall accelerated throughout 2008 and activity in the property market hit record lows in early 2009. Property price statistics for 2008-2009 painted a bleak picture, although they did not fully reflect the devastation wreaked so rapidly, this was due to the credit crunch. Read more

Homes For Sale Hit Two Year High

The troubled UK housing market has left thousands of unsold properties up and down the UK. The number of homes on estate agents books are at their highest levels for the last two years sparking concern by a number of leading industry experts that the market may be in turmoil. Read more

Equity Release and Injection Increased

According to the Bank of England statistics, homeowners have continued to inject equity into their homes but not as much as last year. At the start of 2011 the figures showed that borrowers have increased their financial stake in properties by £5.8 billion, far lower than the £7.1 billion in the previous quarter. Read more

Northern Rock Fined

The Financial Services Authority (FSA) has judged and fined two former directors of Northern Rock for their part in the mortgage breakdown during the credit crunch. These two directors have also been banned from working for a regulated financial firm again. Read more

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