House prices dived by 2.7% during August, figures showed. The average cost of a home dropped to £211,410 during the month, driven down by a 5.1% fall in the value of flats and a 3% slide in the cost of terrace houses, according to Communities and Local Government. Across all buyers, a total of just [...]
LONDON — Estate agents are selling less than one property a week as a lack of mortgage finance hits the number of people moving house, fuelling plummeting prices, a surveyors’ body said on Tuesday. The Royal Institution of Chartered Surveyors (RICS) said its members sold an average of 11.5 homes during the three months to [...]
Key property deals in the City of London are falling through as funding dries up due to the worldwide credit crunch.Sellers are struggling to complete deals as liquidity in the banking sector has virtually dried up. Values are also falling. German fund manager SEB has pulled out of buying ING Real Estate’s 88 Wood Street [...]
Mortgage customers breathed a sigh of relief today as the cost of their repayments fell following the Bank of England’s decision to cut interest rates from five to four-and-a-half per cent. The news came as a pleasant surprise to UK property owners, many of whom weren’t expecting a decision until tomorrow. The Bank Of [...]
Hidden among the national figures for house prices, which are showing falls of around 12% over the past year, there are huge regional differences. With volumes low the sale of a few expensive properties at knock-down prices can seriously distort the figures. In the last housing slump of the early 90s anyone who didn’t have to sell just [...]
It is a dream of thousands of Brits – to buy a second home in a picturesque spot in France and wile away hot summers converting a dilapidated barn into the perfect home in the sun. But there are signs that many are abandoning their plans to buy a plot over the Channel as the [...]
The price of a home in the tax haven has leapt up an incredible 30 per cent in the last year which puts it ahead of London for the first time in five years.Prices in the capital have risen by less then two per cent as the effects of the economic downturn begin to [...]
