{"id":2726,"date":"2011-09-02T16:34:19","date_gmt":"2011-09-02T15:34:19","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=2726"},"modified":"2011-09-02T16:34:19","modified_gmt":"2011-09-02T15:34:19","slug":"property-market-fact-file-september-2011","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=2726","title":{"rendered":"Property Market Fact File &#8211; September 2011"},"content":{"rendered":"<p>Bank Lending Rate<br \/>\nIt 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. It has been at this very low level for a record period, i.e. since 05<sup>th<\/sup> March, 2009.<br \/>\nSource: Bank of England<\/p>\n<p>Mortgage Lending by the Major UK Lenders<br \/>\nAccording 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 rose slightly again, from \u00c2\u00a35.2 billion in June to \u00c2\u00a35.5 billion in July. Remortgaging saw only a slight increase, from \u00c2\u00a33.4 billion in June to \u00c2\u00a33.5 billion in July.<br \/>\nSource: Bank of England <\/p>\n<p>Land Registry Average Property Prices in England and Wales<br \/>\nThe Average Price of a property in England and Wales is now \u00c2\u00a3163,049 as at the end of July 2011.<br \/>\nSource: Land Registry<\/p>\n<p>Percentage Changes of Property Prices in England and Wales<br \/>\nThe Monthly change in July in England and Wales was up by 1.3%.<br \/>\nThe Annual change to July in England and Wales was down by 2.1%.<br \/>\nSource: Land Registry<\/p>\n<p>RICS survey overview.<br \/>\nThe RICS Housing Market Survey for July highlights some key issues. Both supply and demand for property have stayed low, and prices are continuing to fall in every region of the UK except London. The West Midlands saw the largest fall in house prices for the third consecutive month. The South West had the largest increase in newly agreed sales, while the highest level of new buyer enquiries during the month was London.<br \/>\nSource: Royal Institution of Chartered Surveyors<\/p>\n<p>New Mortgages granted \u00e2\u20ac\u201c July estimates<br \/>\nThe Council of Mortgage Lenders reports that July\u00e2\u20ac\u2122s estimated figures for gross mortgage lending in the UK is \u00c2\u00a312.6 billion. This is virtually unchanged from June\u00e2\u20ac\u2122s figure of \u00c2\u00a312.68 billion, but a fall of 6% since last July.<br \/>\nSource: Council of Mortgage Lenders<\/p>\n<p>New Mortgages granted \u00e2\u20ac\u201c June figures<br \/>\nThe Council of Mortgage Lenders reports that in June, 46,700 loans were made for house purchase, worth \u00c2\u00a36.7 billion. First-time buyer loans totalled 18,100 (valued at \u00c2\u00a32.2 billion) which was the highest number for 10 months. 30,700 remortgage loans were made, worth \u00c2\u00a33.8 billion.<br \/>\nSource: Council of Mortgage Lenders<\/p>\n<p>Regional trends in Rightmove Estate Agents Asking House Prices in England and Wales.<br \/>\nThe largest increase in Rightmove\u00e2\u20ac\u2122s August survey shows the asking price of a typical UK property in the period from 10<sup>th<\/sup> July to 6<sup>th<\/sup> August 2011 is in Wales, where the average asking price is up by 0.8% to \u00c2\u00a3171,744. This is 1.1% higher than a year ago.<br \/>\nThe largest decrease in asking prices by Rightmove registered estate agents in the period is in Greater London, where the average asking price is down 3.4% to \u00c2\u00a3418,008, but this is 3.2% higher than a year ago, the largest annual increase in house asking prices.<br \/>\nThe largest annual regional decrease is the East Midlands region, which has seen asking house prices fall by 5.3% over the year.<br \/>\nSource: Rightmove<\/p>\n<p>Halifax House Price Index figures.<br \/>\nThe average price of a house by the end of July 2011 was \u00c2\u00a3163,981, according to the Halifax House Price Index. House prices in July were 0.3% higher than in June, the third consecutive month that prices have risen. The quarterly figure showed a 0.5% drop. The figures show that house prices are 2.6% lower than at this time last year, measured by the average for the latest quarter against the same period a year earlier.<br \/>\nSource: Halifax <\/p>\n<p>Nationwide House Price Index figures<br \/>\nNationwide House Price Index figures published on 1<sup>st<\/sup> September showed that the average cost of a home in the UK was \u00c2\u00a3165,914 during the month of August. After seasonal adjustment, there is a 0.6% fall from July, and the annual rate remains at \u00e2\u20ac\u201c0.4%. The quarterly figure, said to be a better indicator of trend, is at 0.1% increase against the previous 3 months\u00e2\u20ac\u2122.<br \/>\nSource: Nationwide<\/p>\n<p>Rightmove House Price Index figures<br \/>\nRightmove\u00e2\u20ac\u2122s August survey shows the asking price of a typical UK property in the period from 10th July to 6th August 2011 was \u00c2\u00a3231,543, a decrease of 2.1% on the previous month. House asking prices are just 0.3% lower than a year ago. The number of new sellers is down by 12% on July last year.<br \/>\nSource: Rightmove<\/p>\n<p>Asking Prices by Property Type<br \/>\nRightmove have published figures showing National Asking Prices analysed by property type.<br \/>\nIn the year to August 2011, the average change is a decrease of 0.3%. Flats\u00e2\u20ac\u2122 and apartments\u00e2\u20ac\u2122 prices are still performing well, at a 0.9% increase over the year. At the other end of the scale, semi-detached properties\u00e2\u20ac\u2122 asking prices decreased by 1.6%. Inbetween, both detached and terraced properties decreased by 0.8% over the year.<br \/>\nSource: Rightmove<\/p>\n<p>Home Builders Federation figures<br \/>\nHome Builders Federation&#8217;s latest Housing Pipeline Report states that the number of new home planning permissions granted in\u00c2\u00a0England\u00c2\u00a0in the second quarter of 2011 was only 29,100 residential units. This is 23% down on the previous quarter, and 26% down on last year.<br \/>\nThe number of approvals fell by half to 3,200, compared with the previous three months.<br \/>\nSource: Home Builders Federation<\/p>\n<p>Hometrack Monthly House Price Survey<br \/>\nHometrack compile sample data monthly from thousands of Estate Agents in all 2,300 postcodes in England and Wales. The figures are weighted according to postcode, but not seasonally adjusted.<br \/>\nAugust\u00e2\u20ac\u2122s figures show that the average amount of time that a house is on the market is 9.5 weeks, and 92.5% of the asking price is achieved. However, this masks the fact that London\u00e2\u20ac\u2122s \u00e2\u20ac\u0153time to sell\u00e2\u20ac\u009d is only 6 weeks, whilst in over a third of the country, it is over 3 months.<br \/>\n9% of postcode districts reported a price increase in August, and 28% of postcode districts had a price decrease over the month.<br \/>\nSource: Hometrack<\/p>\n<p>Next Monthly Market Fact File due in early October.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. 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 &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=2726\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Property Market Fact File &#8211; September 2011&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-2726","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Property Market Fact File - September 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=2726\" \/>\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 - September 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. 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