View more on these topics

Housing getting back on track with 1.6% price rise

Latest research from Halifax reveals the housing market to be showing signs of getting back on track with a 1.6% price rise in August.

The gain, revealed in Halifax’s All Houses, All Buyers Index, follows a 0.4% rise in July. This was the biggest monthly gain since September 2004.

However, prices have increased by only 2.1% in the first eight months of this year compared with a 12.5% rise during the same period in 2004.

On an annual basis, house prices were 2.5% higher in August, marking a significant downward trend in underlying house price inflation over the past year from an annual rate of 21.3% in August 2004.

Bank of England figures show that market activity is improving, with the number of mortgage approvals to fund house purchases increasing in July, The number of loans stands 26% higher than in November 2004 on a seasonally adjusted basis.

And the Royal Institution of Chartered Surveyors says completed sales also rose in July, following four months of stagnation. The RICS notes there was an increase in new buyer enquiries for the second consecutive month.

But Halifax’s prediction for the rest of the year is that house price growth will remain broadly stable.

Martin Ellis, chief economist at Halifax, says: “A slowdown in economic growth and the high level of house prices in relation to earnings should prevent a surge in house prices.”


FPAG conference promotes best practice

Firms involved in marketing across all forms of media will be coming together at a conference and workshop in early October to launch the Financial Promotions Action Group.The forum will help senior marketers in financial services share best practice within the Financial Services Authoritys financial promotions regulations.One of the key issues in financial marketing is […]

Free pig to tempt rural home buyers

The Lower Mill Estate has gone the whole hog and is offering a free pig with every home purchase from the end of August to the end of September. The Lower Mill Estate is a development of second homes, located in the heart of the Cotswolds in Gloucestershire. Anybody who purchased a house from the […]

Freedom Lending broadens product range

Freedom Lending, the specialist mortgage lender, is broadening its product range with effect from Monday September 12.Products include avery near prime and near prime discounted range up to 90% LTV, bridging the gap between its current prime and adverse ranges.There is a range of Bank Base Rate lifetime trackers – available on prime, self cert, […]

Brokers say SIPPs will boost B2L

Mortgage Trust says 64.7% of buy-to-let mortgage brokers believe that the changes allowing residential property to be held in self invested personal pensions will boost the buy-to-let market. Intermediaries surveyed in MT’s September Buy-to-Let Intermediary Forecast predict the changes would lead to an uplift in buy-to-let business volumes of 10.6%. Some 70% of respondents plan […]

piggy, cash, money

Reassuringly focused on claims

By Ross Jackson, senior protection marketing manager We’re sure you’ll have heard your customers say ‘But insurance companies don’t pay claims’ when giving a reason for not wanting to take out protection. In fact, our State of the Protection Nation research showed that 27 per cent of consumers asked didn’t think protection providers paid out […]


News and expert analysis straight to your inbox

Sign up