View more on these topics

Embargoed Monday 19 th September 2005 Buyers return as asking prices drop

The September edition of the Rightmove House Price Index shows asking prices have fallen for a 3rd consecutive month.

In the last three months asking prices have fallen by over 3,200, a fall of 0.4%.

The UK property website survey also shows that August activity outstripped expectations, halting increases in unsold property stock.

The results suggest that the year long sales recession is coming to an end as buyers are tempted to return by realistic pricing.

Miles Shipside, commercial director at Rightmove.co.uk, says: “We may look back with hindsight and say that the summer of 2005 was the time to buy at the bottom of this cycle in the housing market.”

Recommended

Directors quit The Mortgage Business

Managing director Bill Dudgeon and director of sales and marketing Mark Bergin have quit The Mortgage Business along with fellow directors David Parry and Paul Graham.All four are leaving to go to Deutsche Bank, for yet to be named positions although it is widely tipped they will be launching a new specialist lender into the […]

73% Say lenders should relax income multiples

An overwhelming 73% of readers last week voted that with first-time buyers struggling, it is time for lenders to relax income multiples. Economist John Wriglesworth urged lenders to increase income multiples in last week’s magazine. He says in a period of strong economic growth, the risk of offering 6 x income is minimal and it […]

Lenders slammed for lack of imagination on FTB deals

Vesta Packaging has slammed lenders for failing to restart the first-time buyer market by sticking to outdated income multiples and mortgage terms. The company says stable house prices mean now is an ideal time for aspiring first-timers to re-enter the market. Vesta managing director Mark Leaper says the best ways to kick-start the market are […]

Affordability issue just won’t quit

Affordability refuses to be knocked off the top of the mortgage agenda. At the Mortgage Summit in Jerez, Spain last week, economist John Wriglesworth called on lenders to increase the income multiples they offer borrowers, saying traditional 3x multiples could be raised to 6x with minimal risk to lenders. He says the time has come […]

Newsletter

News and expert analysis straight to your inbox

Sign up