Bank Lending Rate <\/b>
\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.\u00c2\u00a0 It has been at this very low level for a record period of almost 4 years (since March 2009).
\nSource: Bank of England<\/p>\n
ONS House Price Index figures.<\/b>
\nFigures for the year to December 2012, published by the Office for National Statistics on 12th February 2013, show that house prices increased by 3.3% over the year, to an average of \u00c2\u00a3233k..
\nThe average house price in England in December 2012 was \u00c2\u00a3242k, \u00c2\u00a3158k in Wales, \u00c2\u00a3130k in Northern Ireland and \u00c2\u00a3179k in Scotland.
\nOver the year to December 2012, England’s rise was 3.4% and Wales’ was 2.4%. Scotland’s rose by 3.1% but Northern Ireland’s figure fell by 5.7% over the year.
\nSplitting England into regions, London’s prices rose over the year by 6.4%, followed by the South East which rose by 3.7%. However, prices in the North East fell by 0.6% to \u00c2\u00a3142k – the only region in England to see falling house prices.
\nFirst-time buyers’s average house price paid in December was \u00c2\u00a3174k. Over the year, this is an increase of 2.7%. Existing owners paid an average of \u00c2\u00a3268k in December, an increase of 3.5% over the year.
\nThe average price paid for a new-build dwelling was \u00c2\u00a3226k in December, which is 4.0% higher than last December. The average price paid for pre-owned buildings was \u00c2\u00a3234k, which is 3.2% higher than the previous year.
\nSource: ONS<\/p>\n
Land Registry\u00e2\u20ac\u2122s Property Prices in England and Wales<\/b>
\nThe Average price of a property in England and Wales is now \u00c2\u00a3162,441 as at the end of January 2013, according to the report published on 28th February 2013.
\nThe Monthly change in January in England and Wales was a 1.0% rise.
\nThe Annual change to January in England and Wales was also a rise of 1.0%.
\nSource: Land Registry<\/p>\n
Halifax<\/b> House Price Index figures.<\/b>
\nThe average price of a house by the end of January 2013 was \u00c2\u00a3162,932, according to the Halifax House Price Index published 6th February 2013. House prices in January were 0.2% lower than in December, but the quarterly figure was up by 1.9%. The seasonally adjusted figures show that house prices are 1.3% higher than at this time last year, measured by the average for the latest quarter against the same period a year earlier.
\nSource: Halifax<\/p>\n
Nationwide House Price Index figures<\/b>
\nNationwide House Price Index figures published on 1st March 2013 showed that the average cost of a home in the UK was \u00c2\u00a3162,638 during the month of February. After seasonal adjustment, this is a rise of only 0.2% from January, but the annual rate is zero change for the second consecutive month.
\nSource: Nationwide<\/p>\n
Rightmove House Price Index figures<\/b>
\nRightmove\u00e2\u20ac\u2122s January survey (published 18th February 2013) shows the asking price of a typical UK property in the period from 13th January to 9th February 2013 <\/i>was \u00c2\u00a3235,741, an increase of 2.8% on the previous month. House asking prices are 1.1% higher than a year ago.
\nSource: Rightmove<\/p>\n
Acadametrics House Price Index figures<\/b>
\nLSL Property Services\/Acadametrics’ January figures, published 8th February 2013, show that the average house price in England and Wales was \u00c2\u00a3227,478 in January. This is only a 0.2% increase from December, but a 3.1% rise since last January.
\nSource: Acadametrics Ltd<\/p>\n
RICS survey overview<\/b>
\nThe RICS Housing Market Survey for January 2013 (published 12th February 2013) says that \u00e2\u20ac\u0153Activity levels edge up\u00e2\u20ac\u009d, but that the “National price balance indicates stable picture”.
\nYorkshire & Humberside saw the largest fall in house prices in the month. Only London and the South East and Wales saw prices rising.
\nThe North had the highest level of agreed sales, whereas the East Midlands had the lowest.
\nThe West Midlands and Wales had the highest level of new buyer enquiries in the month, while East Anglia, Yorkshire & Humberside and the East Midlands levels fell.
\nThe highest level of new vendor instructions was in the North, closely followed by Scotland, and the lowest was once again in East Anglia.
\nSource: Royal Institution of Chartered Surveyors<\/p>\n
New Mortgages granted \u00e2\u20ac\u201c December Actual Figures<\/b>
\nThe Council of Mortgage Lenders reports that 45,000 loans were made in December for house purchase, worth \u00c2\u00a36.7 billion. This is lower than November both in number (13.3%), and in value (11.8%). These figures are down 4.5% and 4.3% (respectively) than last December\u00e2\u20ac\u2122s figures.
\nOf these, first-time buyer loans totalled 19,100, valued at \u00c2\u00a32.4 billion, which is down 11.6% in number and down 11.1% in value on last month. This is 2.7% higher in number and 4.3% higher in value, compared to last December\u00e2\u20ac\u2122s figures.
\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a325.9 billion, and numbered 4,300. These figures are 14.5% lower than November’s in terms of number, and 12.2% lower in value.\u00c2\u00a0 These figures are down 9.1% and 8.5% (respectively) on last December’s.
\nThe number and value of remortgage loans also fell in the month \u00e2\u20ac\u201c 21,400 loans worth \u00c2\u00a32.8 billion in December. These figures are 18.3% lower than last month\u00e2\u20ac\u2122s in terms of volume, and 17.6% lower in value. This is a decrease of 23.0% in number and 22.2% by value over the year.
\nSource: Council of Mortgage Lenders<\/p>\n
New Mortgages granted \u00e2\u20ac\u201c January Estimates<\/b>
\nThe Council of Mortgage Lenders reports that January\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK was \u00c2\u00a310.4 billion. This is a fall of 9% on December’s \u00c2\u00a311.4 billion, and a drop of 3% from last January’s \u00c2\u00a310.7 billion.
\nSource: Council of Mortgage Lenders<\/p>\n
Mortgage Arrears and Homes Repossessions<\/b>
\nThe number of house repossessions in the fourth quarter of 2012 totalled 7,700, the lowest since Q4 2007.
\nDuring 2012, repossessions fell to 33,900 from 37,300 in 2011. The rate of repossession has fallen from 0.33% in 2011 to 0.30% in 2012.
\nAt the end of 2012, the number of households with arrears of more than 2.5% in their mortgages was 157,900, which is lower than last year, when it was 161,400. There was a small rise in the number of mortgages with arrears of more than 10%, from 28,200 to 28,900 in the year.
\nSource: Council of Mortgage Lenders<\/p>\n
Regional trends in Rightmove Estate Agents Asking House Prices in England and Wales.<\/b>
\nRightmove\u00e2\u20ac\u2122s February survey shows the asking price of a typical UK property in the period from 13th January to 9th February 2013 <\/i>increased in all ten identified areas of England and Wales.
\nThe largest monthly increase was in the North West where asking prices rose by 5.2% over the month from \u00c2\u00a3149,032 to \u00c2\u00a3156,801. However, the annual change there was a 1.8% drop (from \u00c2\u00a3159,630).
\nThe South East had the smallest monthly rise of 0.4%. Average prices there rose from \u00c2\u00a3295,958 in January to \u00c2\u00a3297,036 in February. The annual change there was a 2.1% drop.
\nThe largest annual increase was once again in Greater London, where average prices rose 8.4% over the year to \u00c2\u00a3486,890. The second largest annual increase was in the East Midlands, where prices rose 3.4% to \u00c2\u00a3161,023 over the year to February.
\nThe largest annual decrease was in the North, down 2.4% from \u00c2\u00a3145,702 in February 2012 to \u00c2\u00a3142,168 in February this year. The monthly change there was a drop of 2.4%.
\nSource: Rightmove<\/p>\n
Regional Analysis of Land Registry\u00e2\u20ac\u2122s House Prices in England and Wales.<\/b>
\nThe Land Registry\u00e2\u20ac\u2122s January survey shows the prices of a typical UK property per region as follows:
\nThe largest monthly increase was in London, which saw an increase over the month of 2.5%, bringing the average house price in the region to \u00c2\u00a3373,207. This is 7.1% higher than this time last year – the largest annual regional rise.
\nThe largest monthly decrease in price is the North West, where the average price fell 1.9% to \u00c2\u00a3106,527, which is 4.2% lower than a year ago. This is the largest annual regional drop.
\nSource: Land Registry<\/p>\n
Analysis of Acadametrics HPI data by region<\/b>
\nThe January figures show that of the ten regions specified, six had an increase in house prices in the year to the end January 2013 – by far the largest was Greater London (9.4% to \u00c2\u00a3430,120),
\nWales saw the greatest fall – 1.3% (to \u00c2\u00a3152,083).
\nSource: Acadametrics<\/p>\n
Analysis of Land Registry\u00e2\u20ac\u2122s House Prices in England and Wales by County\/Unitary authority.<\/b>
\nThe Land Registry\u00e2\u20ac\u2122s January survey shows the prices of a typical UK property per county or unitary authority as follows:
\nOnly one county \/ authority (Tyne & Wear) saw no price movement in the month.
\nThe greatest monthly price increase is in Greater London, where the average price is up by 2.5% to \u00c2\u00a3371,223. This is 8.4% up on last year.
\nThe greatest monthly decreases in price were Merthyr Tydfil and Torfaen, where prices fell by 3.0% to an average of \u00c2\u00a369,370 and \u00c2\u00a398,442 respectively. Torfaen’s prices are 3.9% lower than last year, whereas Merthyr Tidfil saw the greatest annual increase \u00e2\u20ac\u201c up 21.0%.
\nThe largest annual drop was in North East Lincolnshire, which saw a fall of 9.5% on last year, to \u00c2\u00a376,541 \u00e2\u20ac\u201c there was a monthly rise of 0.3% here.
\nSource: Land Registry<\/p>\n
Analysis of Acadametrics HPI data by County\/Unitary Authority<\/b>
\nThe area with the largest increase in house prices between December 2011 and December 2012 (after Greater London’s 9.4%) was Hartlepool, where the average house price rose by 8.4% to \u00c2\u00a3118,666. Next was West Berkshire which saw a rise of 7.8% to \u00c2\u00a3314,941 in the same period.
\nThe greatest decreases were Ceredigion’s 8.1% drop (to \u00c2\u00a3169,639), and Gwynedd’s drop also of 8.1% (to \u00c2\u00a3145,842).
\nPortsmouth experienced no change at all, and Devon had a very small drop in average house prices over the year – average prices fell by 0.1% to \u00c2\u00a3231,900 since last November.
\nSource: Acadametrics<\/p>\n
Rightmove\u00e2\u20ac\u2122s analysis of asking prices by London Borough.<\/b>
\nIn the period from 13th January to 9th February 2013, the largest increase in asking prices was in Islington, where they rose by 4.6% to an average of \u00c2\u00a3651,540. Next highest, Hammersmith and Fulham, saw a rise this month of 4.5%.
\nIn Brent, asking prices fell by 6.0% in the month. The average house price there is now \u00c2\u00a3677,034.
\nAnnually, Hammersmith & Fulham saw the highest annual rise (16.3%) to an average of \u00c2\u00a3992,248.
\nTower Hamlets saw the largest annual decrease, where average asking prices have fallen by 3.4% to \u00c2\u00a3420,727 over the year.
\nSource: Rightmove<\/p>\n
Acadametrics data analysed by London Borough<\/b>
\nComparing December 2011 to December 2012, the City of Westminster had the greatest increase in house prices -\u00c2\u00a0 39.2% to an average of \u00c2\u00a31,211,370. Kensington & Chelsea is still the most expensive borough at an average of \u00c2\u00a31,423,629.
\nOnly two boroughs saw a decrease over the period – Barnet by 2.4% to \u00c2\u00a3442,601 and Newham by 2.8% to \u00c2\u00a3215,644. Barking & Dagenham remains the cheapest borough in terms of house prices at an average of \u00c2\u00a3185,570.
\nSource: Acadametrics<\/p>\n
Analysis of Land Registry\u00e2\u20ac\u2122s House Prices by Metropolitan District.<\/b>
\nThe Land Registry\u00e2\u20ac\u2122s January survey shows the average prices of property by Metropolitan District as follows:
\nOnly North Tyneside saw no price movement in the month.
\nThe greatest monthly price increase is in Walsall, where the average price is up by 2.1% to \u00c2\u00a3108,516. This is 1.6% higher than last year.
\nThe greatest monthly decrease in price is in Oldham, where prices fell by 4.5% to an average of \u00c2\u00a375,609. This is 11.5% lower than last year – the largest annual fall.
\nStockport saw the greatest annual increase \u00e2\u20ac\u201c up 4.5%\u00c2\u00a0 to \u00c2\u00a3144,560. The monthly change here was an increase of 0.6%.
\nSource: Land Registry<\/p>\n
Analysis of Land Registry\u00e2\u20ac\u2122s House Prices in Greater London.<\/b><\/b>
\nThe Land Registry\u00e2\u20ac\u2122s January survey shows the average prices of property per London Borough as follows:
\nThe greatest monthly price increase is Hounslow, where the average price is up by 1.9% to \u00c2\u00a3289,951. This is 4.0% higher than last year.
\nThe greatest monthly decrease in price is Havering, where prices fell by 0.7% to an average of \u00c2\u00a3256,519. This is 0.6% higher than last year.
\nThe largest annual drop was in Barking & Dagenham, which saw a fall of 1.3% on last year, to \u00c2\u00a3206,651 \u00e2\u20ac\u201c there was a monthly fall of 0.4% here. Kensington & Chelsea saw the greatest annual increase \u00e2\u20ac\u201c up 12.4%\u00c2\u00a0 to \u00c2\u00a31,079,338. However, the monthly change here was a fall of 0.2%.
\nSource: Land Registry<\/p>\n
Rightmove\u00e2\u20ac\u2122s Asking Prices by Property Type <\/b>
\nRightmove have published figures showing National Asking Prices analysed by property type.
\nIn the year to 9th February 2013, the average change over all property types was an increase of 1.1%. All types of property (which Rightmove classify) are up on last year. Flats\u00e2\u20ac\u2122 and Apartments\u00e2\u20ac\u2122 asking prices rose by 2.8%, and Terraced properties\u00e2\u20ac\u2122 prices rose by 2.4%.
\nSemi-Detached properties’ prices did slightly less well, rising by 1.8%, whereas Detached property asking prices rose by 0.9% since last year.
\nSource: Rightmove<\/p>\n
Land Registry\u00e2\u20ac\u2122s Average Prices by Property Type <\/b>
\nThe Land Registry\u00e2\u20ac\u2122s January average price figures analysed by property type show that the prices over all types of property rose by 1.0% in the year since January 2012. The average price is now \u00c2\u00a3162,441.
\nFlats & Maisonette properties rose by 1.9% to \u00c2\u00a3153,940 over the year, detached properties rose by 1.2% to an average of \u00c2\u00a3257,724, and terraced properties rose by 0.7% to an average of \u00c2\u00a3122,140. Semi-Detached properties rose by only 0.6% to \u00c2\u00a3153,931.
\nSource: Land Registry<\/p>\n
Latest Property Sales Volumes by price range<\/b>
\nAccording to the Land Registry\u00e2\u20ac\u2122s January Report, in November 2012, 61,091 sales transactions took place in England and Wales, and 8,129 in London. This represents a rise of 1% in Engalnd & Wales, and a rise of 3% in London since last November\u00e2\u20ac\u2122s figures, (60,369 and 7,920 respectively).
\nCompared to last November, in the price bracket of over \u00c2\u00a31 million, the sales volume in London increased from 349 to 437 \u00e2\u20ac\u201c a rise of 25%, and in England & Wales it increased from 554 to 657 \u00e2\u20ac\u201c a rise of 19%.
\nAt the other end of the market (below \u00c2\u00a3250k), the volume fell by 1% from 45,442 to 45,016 in England & Wales, and by 8% from 3,435 to 3,151 in London.
\nSource: Land Registry<\/p>\n
Hometrack Monthly House Price Survey<\/b>
\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.
\nFebruary\u00e2\u20ac\u2122s figures (published 4th March 2013) show that the average amount of time that a house is on the market has dropped slightly to 9.7 weeks. Regionally, this ranges from 5.2 weeks in London to 13.6 weeks in the East Midlands.
\nOn average, 93.4% of the asking price is achieved, ranging from 94.9% in the South East, down to 91.9% in Wales.
\n14.8% of postcode districts reported a price increase in February, a rise from 5.4% in January. 8.0% had a price decrease over the month, down from 16.2% in January.
\nThe increases were predominantly in London (48%) and the South East (26%).
\nSource: Hometrack<\/p>\n
Land Registry Quarterly Sales Volumes<\/b>
\nIn the quarter from August to November 2012 (the latest for which figures are available), the average number of house sales per month was 58,9471. This is down on the same period in 2011, when the average was 61,595 sales per month.
\nSource: Land Registry<\/p>\n
Buy-to-Let Mortgages <\/b>
\nThe Council of Mortgage Lenders reports that Buy-to-Let lending accounted for 11.5% of total gross mortgage lending in the UK in 2012.. This is up from 9.8% last year.
\nDuring the fourth quarter of 2012, the total lent on buy-to-let mortgages was \u00c2\u00a34.6 billion (36,700 loans). This is an increase on the previous quarter (34,300 loans worth \u00c2\u00a34.2 billion) and up on Q4 of 2011 (34,200 loans worth \u00c2\u00a33.9 billion).
\nA total of 136,900 loans were made as buy-to-let mortgages in 2012, nearly half of which were remortgages.
\nThere are currently 1,445,300 buy-to-let mortgages, with a value of \u00c2\u00a316.4 billion. This is up 19% on last year, and accounts for 13% of all mortgages..
\nSource: Council of Mortgage Lenders<\/p>\n
Outstanding Mortgage Debt<\/b> Land Registry figures including Repossessions.<\/b> Next Monthly Market Fact File due in early April.<\/p>\n","protected":false},"excerpt":{"rendered":"
\nThe average outstanding mortgage for the 11.3m households who currently have mortgages is estimated at \u00c2\u00a3112,071 in January 2013.
\nOutstanding secured lending in the UK on dwellings totalled \u00c2\u00a31,265 billion<\/strong> at the end of January 2013. This is up from the previous January\u00e2\u20ac\u2122s \u00c2\u00a31,248 billion.
\nSource: Credit Action<\/p>\n
\nThe headline figures in the January 2013 report are altered when repossession data is included – the average house price is then \u00c2\u00a3160,180: 0.6% up on December and 1.4% up on January 2012.
\nIn the months from August to November, the number of repossessions averaged 1,536 per month. In the same period last year, the average was 1,833 per month.
\nThere was a total reduction in the number of repossessions over the year to November 2012 of 11%. Regional analysis shows the East Midlands had 42% fewer repossessions than last November, whereas Wales had 21% more.
\nSource: Land Registry<\/p>\n