th<\/sup> March, 2009.<\/p>\nSource: Bank of England<\/p>\n
Mortgage Lending by the Major UK Lenders<\/h3>\n
According to initial data from the major UK lenders, (which comprises Banco Santander, Barclays, HSBC, Lloyds Banking Group, Nationwide and Royal Bank of Scotland), total mortgage approvals for house purchase dropped slightly from \u00c2\u00a35.1 billion in April to \u00c2\u00a34.9 billion in May. Remortgaging saw an increase, from \u00c2\u00a33.2 billion in April to \u00c2\u00a33.7 billion in May.<\/p>\n
Source: Bank of England<\/p>\n
Land Registry Average Property Prices in England and Wales<\/h3>\n
The Average Price of a property in England and Wales is now \u00c2\u00a3161,823 as at the end of May 2011.<\/p>\n
Source: Land Registry<\/p>\n
Percentage Changes of Property Prices in England and Wales<\/h3>\n
The Monthly change in May in England and Wales was \u00e2\u20ac\u201c1.4%.<\/p>\n
The Annual change to May in England and Wales was \u00e2\u20ac\u201c2.2%.<\/p>\n
Source: Land Registry<\/p>\n
RICS survey overview.<\/h3>\n
The RICS Housing Market Survey for May suggests that the housing market is still weak. Both supply and demand for property have stayed low.\u00c2\u00a0 Every region of the UK except London has seen falling prices, with the West Midlands seeing the largest falls.\u00c2\u00a0 East Anglia had the largest increase in new buyer enquiries, and the highest level of new vendor instructions during the month.<\/p>\n
Source: Royal Institution of Chartered Surveyors<\/p>\n
New Mortgages granted \u00e2\u20ac\u201c May estimates<\/h3>\n
The Council of Mortgage Lenders reports that May\u00e2\u20ac\u2122s estimated figures for gross mortgage lending in the UK is \u00c2\u00a311.3 billion. This is a rise of 12% from April\u00e2\u20ac\u2122s figure of \u00c2\u00a311.1 billion, and a rise of 1% since last May.<\/p>\n
The CML\u00e2\u20ac\u2122s director general, Michael Coogan said \u00e2\u20ac\u0153the likelihood seems to be for essentially flat levels of lending over the next couple of months\u00e2\u20ac\u009d.<\/p>\n
Source: Council of Mortgage Lenders<\/p>\n
Regional trends in Rightmove Estate Agents Asking House Prices in England and Wales.<\/h3>\n
The largest increase in June is in East Anglia, where the average asking price is up by 2.2% to \u00c2\u00a3231,725. This is now 4.4% higher than June 2010.<\/p>\n
The largest decrease in asking prices by Rightmove registered estate agents in June is the East Midlands region, where the average asking price is down by 3.2% to \u00c2\u00a3164,883, and is now 0.4% lower than in June 2010.<\/p>\n
Over the year to June 2011, the largest increase in house asking prices was in East Anglia (see above).<\/p>\n
The largest annual regional decrease is Yorkshire & Humberside region for the second month in a row, which has seen asking house prices fall by 3.5% since June 2011.<\/p>\n
Source: Rightmove<\/p>\n
Halifax House Price Index figures.<\/h3>\n
The average price of a house by the end of May 2011 was \u00c2\u00a3160,519, according to the Halifax House Price Index. House prices in May were 0.1% higher than in April. The quarterly figure showed a 1.2% drop. The figures show that house prices are 4.2% lower than at this time last year, measured by the average for the latest quarter against the same period a year earlier.<\/p>\n
Source: Halifax<\/p>\n
Nationwide House Price Index figures<\/h3>\n
Nationwide House Price Index figures published on 30th<\/sup> June showed that the average cost of a home in the UK was \u00c2\u00a3168,205 during the month of June.\u00c2\u00a0 After seasonal adjustment, there is no change from May, and the annual rate now stands at \u00e2\u20ac\u201c1.1%, very slightly better than May. The quarterly figure, said to be a better indicator of trend, stands at 0.3% increase against the previous 3 months\u00e2\u20ac\u2122.<\/p>\nSource: Nationwide<\/p>\n
Rightmove House Price Index figures<\/h3>\n
Rightmove\u00e2\u20ac\u2122s June survey shows the asking price of a typical UK property in the period from 8th<\/sup> May to 11h<\/sup> June 2011 was \u00c2\u00a3240,394, an increase of 0.6 % from the previous month. House asking prices are 1.1% higher than a year ago. New sellers\u00e2\u20ac\u2122 asking prices have increased every month for the last six months.<\/p>\nSource: Rightmove<\/p>\n
Outstanding Mortgage Debt<\/h3>\n
Total secured lending in the UK on dwellings stands at \u00c2\u00a31,242bn at the end of May 2011.<\/p>\n
Source: Credit Action<\/p>\n
Hometrack Monthly House Price Survey<\/h3>\n
Hometrack compile sample data monthly from thousands of Estate Agents in all 2,300 postcode districts in England and Wales. The figures are weighted according to postcode, but not seasonally adjusted.<\/p>\n
June\u00e2\u20ac\u2122s figures are based on 5,000 responses, and show that currently the average amount of time that a house is on the market is 9.7 weeks, and 92.8% of the asking price is achieved.<\/p>\n
8.7% of postcode districts reported a price increase in June, and 28% of postcode districts had a price decrease over the month.<\/p>\n
Source: Hometrack<\/p>\n
1st July 2011<\/p>\n","protected":false},"excerpt":{"rendered":"
Bank Lending Rate It has been confirmed that the Bank of England Monetary Committee have decided that the Bank Base Rate is to remain at 0.5% for a further month.\u00c2\u00a0 It has been at this very low level for a record period, i.e. since 05th March, 2009. Source: Bank of England Mortgage Lending by the … Continue reading “Property Market Fact File – July 2011”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-2324","page","type-page","status-publish","hentry"],"yoast_head":"\nProperty Market Fact File - July 2011 - Property Surveying NEWSLETTER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=2324\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property Market Fact File - July 2011 - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"Bank Lending Rate It has been confirmed that the Bank of England Monetary Committee have decided that the Bank Base Rate is to remain at 0.5% for a further month.\u00c2\u00a0 It has been at this very low level for a record period, i.e. since 05th March, 2009. 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