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 over 4 years (since March 2009).
\nSource: Bank of England<\/p>\n
HOUSE PRICE INDICES – some show actual prices and others show asking prices. This month the average house price ranges from 162k to 253k.<\/b><\/p>\n
ONS House Price Index figures.<\/b>
\nFigures for the year to April 2013, published by the Office for National Statistics on 18th June 2013, show that house prices increased by 2.6% over the year, to an average of \u00c2\u00a3238k.
\nThe average house price in England in April 2013 was \u00c2\u00a3247k, \u00c2\u00a3162k in Wales, \u00c2\u00a3127k in Northern Ireland and \u00c2\u00a3177k in Scotland.
\nOver the year to April 2013, England’s rise was 2.8% and Wales’ was 6.2%. Scotland’s fell by 1.2% and Northern Ireland’s figure fell by 0.8% over the year. (House prices in Northern Ireland have fallen every year for over 5 years.)
\nSplitting England into regions, London’s prices rose over the year by 6.0%, followed by the East Midlands which rose by 3.6%. However, prices fell in the North East by 1.3% – the only regional decrease.
\nFirst-time buyers’ average house price paid in April was \u00c2\u00a3179k. Over the year, this is an increase of 4.7%. Existing owners paid an average of \u00c2\u00a3273k in April, an increase of 1.9% over the year.
\nThe average price paid for a new-build dwelling was \u00c2\u00a3234k in April, which is 4.4% higher than last April. The average price paid for a pre-owned building was \u00c2\u00a3238k, which is 2.5% 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\u00a3161,969 as at the end of May 2013, according to the report published on 28th June 2013.
\nThe Monthly change in May in England and Wales was a 0.1% rise.
\nThe Annual change to May in England and Wales was a rise of 0.5%.
\nSource: Land Registry<\/p>\n
Halifax House Price Index figures.<\/b>
\nThe average price of a house by the end of May 2013 was \u00c2\u00a3166,898, according to the Halifax House Price Index published 6th June 2013. House prices in May were 0.4% higher than in April, and the quarterly figure was up by 1.5%. The seasonally adjusted figures show that house prices are 2.6% 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 28th June 2013 showed that the average cost of a home in the UK was \u00c2\u00a3168,941 during the month of June. After seasonal adjustment, this is a slight change from May (a rise of 0.3%), and the annual rate is a 1.9% rise.
\nSource: Nationwide<\/p>\n
Rightmove House Price Index figures<\/b>
\nRightmove\u00e2\u20ac\u2122s June survey (published 17th June 2013) shows the asking price of a typical UK property in the period from 12th May to 8th June 2013 was \u00c2\u00a3252,798, an increase of 1.2% on the previous month. House asking prices are 2.7% higher than a year ago.
\nSource: Rightmove<\/p>\n
Acadametrics House Price Index figures<\/b>
\nLSL Property Services\/Acadametrics’ May figures, published 14th June 2013, show that the average house price in England and Wales was \u00c2\u00a3233,061 in May. This is only a 0.4% increase from April, but a 2.7% rise since last May.
\nSource: Acadametrics Ltd<\/p>\n
Analysis of Nationwide\u00e2\u20ac\u2122s UK House Prices Index report for Q2 2013.<\/b>
\nIn Quarter 2 of 2013, the average UK house price has been calculated (after seasonal adjustment) as \u00c2\u00a3167,294 by the Nationwide. This is 0.4% higher than Q1, and gives a figure of a 1.4% increase since the same quarter last year. For the seventh successive quarter, the most expensive region in the UK to buy a property is, not surprisingly, London, and the least expensive region is once again Northern Ireland.
\nHouse prices in Northern Ireland are now 2.1% down on last year, and 2.7% down on last quarter, standing at an average of \u00c2\u00a3108,116. The City of Belfast still has the highest prices – at \u00c2\u00a3152,792, the annual rate is a 4% rise.
\nOn the other hand, London had an increase in house prices of 5.2% on last year, and a 1.2% increase on last quarter. The average price is \u00c2\u00a3318,214. Westminster is still the most expensive borough, with average prices (\u00c2\u00a3777,586) more than three and a half times the average price in the cheapest borough, Barking & Dagenham (\u00c2\u00a3201,475).
\nHouse prices in England have risen 0.6% over the quarter, and 2.3% over the year. The North is the cheapest place in England to buy a property at the moment. The average price in England is \u00c2\u00a3194,915.
\nWales\u00e2\u20ac\u2122 quarterly change was a fall of 1.6%, but there was an annual rise of 1.2%. The average price in Wales is now \u00c2\u00a3133,432, with Cardiff remaining the most expensive area – the average house price in Cardiff being \u00c2\u00a3208,617.
\nScotland\u00e2\u20ac\u2122s house prices rose 1.4% on last quarter, but dropped 1.2% from last year, to an\u00c2\u00a0 average price of \u00c2\u00a3134,611. Edinburgh City is currently the most expensive place to buy a house in Scotland – the average price here is \u00c2\u00a3234,884.
\nLooking at towns and cities within England, Newcastle performed best, with a house price increase of 11% since last year. The average price of a house in Newcastle is \u00c2\u00a3173,296.
\nThe worst performances in England were Liverpool (again) and Southampton, where prices dropped by 8% and 5% respectively in the year. House prices here average \u00c2\u00a3142,454 and \u00c2\u00a3198,679 respectively.
\nSource: Nationwide<\/p>\n
Land Registry figures including Repossessions.<\/b>
\nThe headline figures in the May 2013 report are altered when repossession data is included – the average house price is then \u00c2\u00a3160,267: 0.2% up on April and 1.2% up on May 2012.
\nIn the months from December to March, the number of repossessions averaged 1,357 per month. In the same period last year, the average was 1,746 per month.
\nThere was a total reduction in the number of repossessions over the year to March 2013 of 27%. Regional analysis shows that the North East had 39% fewer repossessions over the year, whereas the East Midlands saw only 18% fewer.
\nSource: Land Registry<\/p>\n
oOo<\/strong><\/p>\n HOUSE PRICES ANALYSED REGIONALLY ACROSS ENGLAND AND WALES<\/b><\/p>\n Regional trends in Rightmove Estate Agents Asking House Prices in England and Wales.<\/b> Regional Analysis of Land Registry\u00e2\u20ac\u2122s House Prices in England and Wales.<\/b> Analysis of Acadametrics\u00c2\u00a0HPI data by region<\/b> Analysis of Land Registry\u00e2\u20ac\u2122s House Prices in England and Wales by County\/Unitary authority.<\/b> Analysis of Acadametrics\u00c2\u00a0HPI data by County\/Unitary Authority<\/b> Analysis of Land Registry\u00e2\u20ac\u2122s House Prices by Metropolitan District.<\/b> Rightmove\u00e2\u20ac\u2122s analysis of asking prices by London Borough.<\/b> Acadametrics data analysed by London Borough<\/b> Analysis of Land Registry\u00e2\u20ac\u2122s House Prices in Greater London.<\/b><\/b> RICS Survey Overview<\/b> Nationwide sub-regional analysis of average house prices over the last 10 years.<\/b> oOo<\/strong><\/p>\n PROPERTY TYPES – terraced are the cheapest and detached the most expensive.<\/b><\/p>\n Rightmove\u00e2\u20ac\u2122s Asking Prices by Property Type <\/b> Source: Rightmove<\/p>\n Land Registry\u00e2\u20ac\u2122s Average Prices by Property Type <\/b> Source: Land Registry<\/p>\n oOo<\/b><\/p>\n MORTGAGE FIGURES<\/b><\/p>\n New Mortgages granted \u00e2\u20ac\u201c April Actual Figures<\/b> New Mortgages granted \u00e2\u20ac\u201c May Estimates<\/b> Mortgage Arrears and Homes Repossessions<\/b> Outstanding Mortgage Debt<\/b> oOo<\/b><\/p>\n TRANSACTIONS & OTHER FIGURES<\/b><\/p>\n Latest Property Sales Volumes by price range<\/b> Land Registry Quarterly Sales Volumes<\/b> Hometrack Monthly House Price Survey Figures<\/b> Home Builders Federation figures<\/b> Next Monthly Market Fact File due in August.<\/p>\n","protected":false},"excerpt":{"rendered":"
\nRightmove\u00e2\u20ac\u2122s May survey shows the asking price of a typical UK property in the period from 12th May to 8th June 2013 increased in six of the ten identified areas of England and Wales.
\nThe largest monthly increase was in the North West where asking prices rose by 1.7% over the month from \u00c2\u00a3165,165 to \u00c2\u00a3168,013. The annual change there was a rise of 0.9%.
\nThe largest monthly decrease was 0.8% in East Anglia. Average prices there fell from \u00c2\u00a3233,447 in May to \u00c2\u00a3231,621 in June. The annual change there was a rise of 1.8%.
\nThe largest annual increase was in London, up 7.9% from \u00c2\u00a3477,440 in June 2012 to \u00c2\u00a3515,243 in June this year. The monthly change was a rise of 1.1%.
\nThe largest annual decrease was once again in the Yorkshire & Humberside region, down 1.4% from \u00c2\u00a3159,418 in June 2012 to \u00c2\u00a3157,183 in June this year. The monthly change was a fall of 0.5%.
\nSource: Rightmove<\/p>\n
\nThe Land Registry\u00e2\u20ac\u2122s May survey shows the prices of a typical UK property per region as follows:
\nThe largest monthly increase was in the East Midlands, which saw an increase over the month of 2.0%, bringing the average house price in the region to \u00c2\u00a3123,404. This is 0.3% higher than this time last year.
\nThe largest monthly decrease in price is in the East, where the average price fell 0.7% to \u00c2\u00a3173,767, which is 0.7% higher than a year ago.
\nAnnually, London saw the largest increase – by 5.0% to an average of \u00c2\u00a3375,068 – whereas Yorkshire & The Humber saw the largest decrease – a drop of 2.2% over the year to \u00c2\u00a3115,324.
\nSource: Land Registry<\/p>\n
\nThe latest figures show that of the ten regions specified, seven had an increase in house prices in April – by far the largest was Greater London (10.1% to \u00c2\u00a3448,443). Wales saw the greatest fall – 1.3% (to \u00c2\u00a3151,821).
\nSource: Acadametrics<\/p>\n
\nThe Land Registry\u00e2\u20ac\u2122s May survey shows the prices of a typical UK property per county or unitary authority as follows:
\nThe greatest monthly price increase is Blaenau Gwent, where the average price is up by 3.8% to \u00c2\u00a380,712. This is 16.6% up on last year – the greatest annual increase
\nThe greatest monthly decrease in price was Newport, Gwent, where prices fell by 3.5% to an average of \u00c2\u00a3111,307. However, this is 4.3% higher than last year.
\nMiddlesbrough saw a fall of 10.2% on last year – the largest annual drop – taking the average house price here to \u00c2\u00a373,522.
\nSeven counties \/ authorities saw no price movement in the month.
\nSource: Land Registry<\/p>\n
\nThe unitary authority with the largest increase in house prices between April 2012 and April 2013 (excluding Greater London) was Carmarthenshire, where the average house price rose by 10.0% to \u00c2\u00a3143,817. Next was Cheshire which saw a rise of 8.8% to \u00c2\u00a3219,893 in the same period.
\nThe largest decrease was Blackburn & Darwen, where there was a 11.2% drop (to \u00c2\u00a3106,759).
\nSource: Acadametrics<\/p>\n
\nThe Land Registry\u00e2\u20ac\u2122s May survey shows the average prices of property by Metropolitan District as follows:
\nThe greatest monthly price increase is in Bury, where the average price is up by 6.5% to \u00c2\u00a3108,517. However, this is 1.2% lower than last year.
\nThe greatest monthly decrease in price is in St Helens, where prices fell by 2.7% to an average of \u00c2\u00a392,898. This is 3.5% lower than last year.
\nOver the year, Trafford saw the largest increase – 3.3% to \u00c2\u00a3183,461, which is 1.3% higher than last month.
\nSalford saw the greatest annual decrease \u00e2\u20ac\u201c down 9.1%\u00c2\u00a0 to \u00c2\u00a386,119. The monthly change here was a rise of 0.2%.
\nSource: Land Registry<\/p>\n
\nIn the period from 12th May to 8th June 2013, the largest increase in asking prices was in Camden, where they rose by 4.9% to an average of \u00c2\u00a31,103,943. The annual rise was 19.1% – the largest annual increase of all the boroughs.
\nIn Haringey, asking prices fell by 2.7% in the month, but rose by 8.3% over the year. The average house price there is now \u00c2\u00a3584,815.
\nAnnually, Kingston-upon-Thames saw the largest annual decrease, where average asking prices have fallen by 3.4% over the year to \u00c2\u00a3665,382. The monthly change there was a drop of 1.7%.
\nSource: Rightmove<\/p>\n
\nComparing April 2012 to April 2013, the City of Westminster had the greatest increase in house prices -\u00c2\u00a0 34.0% to an average of \u00c2\u00a31,318,971. Kensington & Chelsea is still the most expensive borough at an average of \u00c2\u00a31,462,108, which is 8.3% higher than last March.
\nOnly one borough saw a decrease over the year – Tower Hamlets (by 1.3% to \u00c2\u00a3346,495). Barking & Dagenham remains the cheapest borough in terms of house prices at an average of \u00c2\u00a3182,515, although this is 2.5% higher than last year.
\nSource: Acadametrics<\/p>\n
\nThe Land Registry\u00e2\u20ac\u2122s May survey shows the average prices of property per London Borough as follows:
\nThe greatest monthly price increase is in Greenwich -\u00c2\u00a0 the average price is up by 2.0% in the borough, to \u00c2\u00a3274,666. This is 3.9% higher than last year.
\nThe greatest monthly decrease in price is in Newham, where prices fell by 1.3% to an average of \u00c2\u00a3227,169. However, this is 0.4% higher than last year. This is the smallest annual rise, as all boroughs saw a price rise over the year.
\nWandsworth had the largest annual rise – 11.1% to \u00c2\u00a3447,888 – although the monthly rise here was only 0.8%.
\nSource: Land Registry<\/p>\n
\nThe RICS Residential Market Survey for May 2013 (published 11th June 2013) says that the\u00c2\u00a0 “Housing market [is] gathering momentum”.
\nLondon and the South East saw the largest price rises, whereas Yorkshire & Humberside area saw the largest fall in house prices in the month.
\nThe North West had the highest level of agreed sales in April, with every area seeing a rise, albeit Wales’s was very small.
\nYorkshire & Humberside, along with Scotland,\u00c2\u00a0 had the highest level of new buyer enquiries in the month – none of the areas saw a fall.
\nThe highest levels of new vendor instructions were in Scotland and the North West, and the lowest (decreases) were in Wales and West Midlands.
\nSource: Royal Institution of Chartered Surveyors<\/p>\n
\nAnalysing the price rises over Great Britain by region over the last ten years shows some major differences. Compared to 10 years ago, the average house price in Aberdeenshire & Moray has risen by 115% to \u00c2\u00a3175,854. This is the highest rise outside London, where Westminster’s average price has risen by 117% over the decade.
\nHowever, in Swindon and the South East of Northern Ireland,\u00c2\u00a0 prices are only 11% higher than they were 10 years ago.
\nSource: Nationwide<\/p>\n
\nRightmove have published figures showing National Asking Prices analysed by property type.
\nIn the year to 8th June 2013, the average change over all property types was an increase of 2.7%. All types of property (which Rightmove classify) are up on last year.<\/p>\n\n
\nThe Land Registry\u00e2\u20ac\u2122s May average price figures analysed by property type show that the prices over all types of property rose by 0.5% in the year since May 2012. The average price is now \u00c2\u00a3161,969<\/p>\n\n
\nThe Council of Mortgage Lenders reports that 42,600 loans were made in April for house purchase, worth \u00c2\u00a36.3 billion. This is lower than March in number (0.9%), but unchanged in\u00c2\u00a0 value. However, these figures are up 22.4% and 21.2% (respectively) than last April\u00e2\u20ac\u2122s figures.
\nOf these, first-time buyer loans totalled 19,400, valued at \u00c2\u00a32.5 billion, which is down by 1.0% in number and the same in value as last month. This is 57.7% higher in number and 66.7% higher in value, compared to last April\u00e2\u20ac\u2122s figures.
\nHome movers\u00e2\u20ac\u2122 loans totalled \u00c2\u00a323.3 billion, and numbered 3,800. These figures are 0.9% lower than March’s in terms of number, and 2.6% lower in value.\u00c2\u00a0 These figures are up 3.6% in number and 2.7% in value on last April.
\nThe number and value of remortgage loans rose in the month \u00e2\u20ac\u201c 25,600 loans worth \u00c2\u00a33.4 billion in April. These figures are 7.1% higher than last month\u00e2\u20ac\u2122s in terms of volume and 9.7% higher in value. However, this is a decrease of 5.5% in number and 2.9% by value over the year.
\nSource: Council of Mortgage Lenders<\/p>\n
\nThe Council of Mortgage Lenders reports that May\u00e2\u20ac\u2122s estimated figure for gross mortgage lending in the UK is \u00c2\u00a314.7 billion. This is a rise of 21% on April’s \u00c2\u00a312.2 billion, and a rise of 17% from last May’s figure. This is the highest monthly estimate for gross mortgage lending for four and a half years.
\nSource: Council of Mortgage Lenders<\/p>\n
\nThe number of UK mortgages in arrears has remained steady at 1.4% for at least a year.
\nBy the end of Q1 2013, 159,800 mortgages were in arrears, i.e. behind by more than 2.5% of the mortgage balance. Included in this figure are 82,600 mortgages in arrears by between 2.5% and 5%, 32,000 behind by between 5% and 7.5%, 14,900 in the bracket 7.5% to 10%, and 30,300 which are in arrears by more than 10% of the mortgage balance.
\nThe rate of repossessions in the first quarter of 2013 is 0.07%, where it has been for a full year. This is equivalent to fewer than 1 in 400 mortgaged properties.
\n8,000 properties were repossessed in Q1 2013, compared to 9,600 in Q1 2012, and 7,700 in the previous quarter. About a fifth of these were on buy-to-let mortgages.
\nSource: Council of Mortgage Lenders<\/p>\n
\nThe average outstanding mortgage for the 11.3m households who currently have mortgages is estimated at \u00c2\u00a3112,459 in April 2013.
\nOutstanding secured lending in the UK on dwellings totalled \u00c2\u00a31,266 billion<\/strong> at the end of April 2013. This is up from the previous April\u00e2\u20ac\u2122s \u00c2\u00a31,252 billion.
\nSource: Credit Action<\/p>\n
\nAccording to the Land Registry\u00e2\u20ac\u2122s May Report, in March 2013, 52,090 sales transactions took place in England and Wales, and 7,229 in London. This represents a fall of 15% in England & Wales, and a fall of 20% in London since last March\u00e2\u20ac\u2122s figures, (61,334 and 9,071 respectively).
\nCompared to last March, in the price bracket of over \u00c2\u00a31 million, the sales volume in London increased from 339 to 435 \u00e2\u20ac\u201c a rise of 28%, and in England & Wales it increased from 517 to 625 \u00e2\u20ac\u201c a rise of 21%.
\nAt the other end of the market (below \u00c2\u00a3250k), the volume fell by 20% from 48,515 this March to 38,815 last March in England & Wales, and by 41% from 4,812 to 2,844 in London.
\nSource: Land Registry<\/p>\n
\nIn the quarter from December 2012 to March 2013 (the latest for which figures are available), the average number of property transactions per month was 48,875. This is down on the same period a year ago, when the average was 53,387 sales per month.
\nSource: Land Registry<\/p>\n
\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.
\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.
\nJune\u00e2\u20ac\u2122s figures (published 1st July 2013) show that the average amount of time that a house is on the market has dropped to 8.4 weeks. Regionally, this ranges from 4.1 weeks in London to 12.8 weeks in the East Midlands.
\nOn average, 94.2% of the asking price is achieved, ranging from 96.1% in Greater London, down to 92.2% in Wales.
\n31.4% of postcode districts reported a price increase in June, a rise from 28.5% in May. 3.1% had a price decrease over the month, down from 4.4% in May.
\nSource: Hometrack<\/p>\n
\nHome Builders Federation’s latest Housing Pipeline Report states that the number of planning permissions granted in\u00c2\u00a0Great Britain\u00c2\u00a0in the first quarter of 2013 was 44,924 residential units. This is 12% fewer than the previous quarter, but 7% more than last year.
\nSocial housing approvals in this quarter rose to 7,952, up 12% on Q4 2012 and up 45% on a year ago.
\nSource: www.house-builder.co.uk<\/p>\n