Housing market hits a boggy patch
Most of the recently released housing indicators suggest the market is going through a boggy patch and today’s survey from the surveyors’ body RICS seems to add support to that view.
Home sales continue to slide
The latest figures from HM Revenue & Customs underline the fragility of the current housing market, showing continued falls in sales of homes. The data show the number of property transactions, seasonally adjusted, in the UK fell in the first three months of this year to a level last seen in July 2009.
House prices flatline in a fragile market, but what does this mean for construction?
As the various house price indicies trickle in with their indications of what happened to house prices and the housing market in February one thing remains certain – you’d be foolish to draw too many conclusions from them about the likely path ahead. Analysis of the December, January and February data has been clouded by the big freeze in December. And there remains considerable uncertainty over how much the big squeeze from public sector spending cuts has already hit demand…
Why falling mortgages approval are spooking housing market watchers
The latest figures from the Bank of England showing the number of mortgage approvals at a nine month low have caused a bit of a stir and increased talk of a double dip in the housing market. Here’s a few reasons why.
Mortgage lending a bit better but still pretty much on the floor
The Bank of England’s release on mortgage lending does show a futher slight rise for March. The figures show mortgage approvals for house purchases rose to 39,230 in March from 37,716 in February. And this puts the level of approvals reasonably well up from the bottom reached last November of 27,000. But the numbers are still running at about a third of what might be regarded a “normal” level. On that basis we are still in extraordinary territory as far…