View more on these topics

Welsh house sales highest in six years

Housing transactions in Wales in October hit the highest level seen since December 2007, according to chartered surveyors e.surv.

An estimated 3,600 house sales were completed in the month – an increase of 14 per cent from September and the highest volume since the 4,184 transactions in December 2007.

The average house price in Wales reached £154,696 in October; a monthly rise of 0.7 per cent from September’s average of £153,571 and 1.4 per cent from October 2012 when the average price stood at £152,616.

Comparisons of the annual change figure show Wales in the bottom three of regional changes, with the North seeing 1.3 per cent price inflation and Scotland at the bottom with an annual rise of just one per cent.

However, comparing the monthly change figure on a regional basis places Wales in the top three with 0.7 per cent growth in average prices. The East and West Midlands are first and second for monthly inflation with 0.9 per cent and 0.8 per cent respectively.

Prices are rising fastest in Cardiff where the average reached £197,730 in October this year, up 7.4 per cent from £184,132 last year.

The Council of Mortgage Lenders has also reported 2,900 loans were advanced to first-time buyers in the third quarter of 2013 – the highest quarterly figure since 2007 and 12 per cent higher than the second quarter 2012 total of 2,600.

E.surv director Richard Sexton says: “The housing market in Wales has turned over a new leaf and is clearly entering a new phase, with pent up demand and strong competition driving house price growth and rising sales.

“New buyer enquiries, sales and price expectations are all above the three-month average illustrating the strong headway being made.”


As MEPs pass mortgage directive final rules, UK countdown begins

MEPs last week passed the final rules of the European Mortgage Credit Directive. The rules were agreed in September but an official vote was delayed until the Council of Ministers had decided how member states would transpose the rules into their respective national regulatory systems. The UK will have two years to introduce the rules once […]

Bricks building housing construction

Solid foundations needed in 2014

It’s that time of year when most of us can take a deep breath, put our feet up for a few days, eat, drink and be merry. However, spare a thought not only for those less fortunate but also for those having to plough on work-wise throughout the Christmas period. Although for some this is […]


60 Seconds with… Building Societies Association head of mortgage policy Paul Broadhead

Which sectors of the UK mortgage market will be the biggest losers from the EU mortgage directive? Consumers. They are going to receive information that will confuse them and that the Financial Conduct Authority has already decided does not add value to their understanding of the mortgage process. Do you think we will see a […]


Caption Winner

Click here for this week’s Caption Competition


Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.


News and expert analysis straight to your inbox

Sign up