Latest News and Stories

17
Halifax index also shows a 0.9% decline in December 2011 and predicts a broadly stable 2012 … providing the UK can avoid the recession

The number of sellers putting their house on the market rose for the third successive month during December, but vendors may need to cut their prices to do a deal, according to the Royal Institution of Chartered Surveyors. Its latest monthly survey, published today, suggests sellers returned in time for the new year, with London leading the way.
 
UK Properties
 


A 38 per cent balance of surveyors reported rising numbers of new homes on the market, the highest since January 2005. But the number of sales fell slightly to 15.2 per surveyor per week last month. Ian Perry, a Rics spokesman, said: "With sales expectations remaining flat, it is important that vendors are realistic."

The price of the average house in the UK is now just over £160,000, said the bank, thanks to a 0.9% fall in prices in December 2011 and a 1.3% drop over the whole of the year.

"The squeeze on consumers' purchasing power should ease as 2012 progresses as inflation falls back markedly, and this may help house prices to stabilize in the latter months of 2012 along with ongoing very low interest rates," he said.

"However, unemployment is likely to rise appreciably further and wage growth looks set to remain muted so the overall environment will still be very tough for households."

Actions: E-mail | Permalink |

Post Rating

Other News

London Transport and Virgin Media have named first 80 busiest and major underground stations in London which are all set to receive Wi-Fi services for the Olympics season. Destinations including London Bridge, Oxford Circus, Leicester Square, Mile End, Tower Hill, Tufnell Park, Goodge Street, King’s Cross, Oval, Borough and Victoria are on the list to turn into accessible Wi-Fi hotspots.

The UK economy shrank for the last three months of 2011 - BCC predicts that growth will be flat this year , with one quarter of contraction, but says a full-blown recession is not inevitable if the government acts. It showed that in October, the service sector contracted by (a revised) 0.6%, while in November it grew by 0.6%.

Peacocks chief executive expected to lodge rescue offer for stricken fashion chain, while Past Times is closing 46 stores with the loss of 574 jobs. Peacock employs more than 400 at its Cardiff HQ and nearly 10,000 more across the UK.

Halifax index also shows a 0.9% decline in December 2011 and predicts a broadly stable 2012 … providing the UK can avoid the recession. The price of the average house in the UK is now just over £160,000, said the bank, thanks to a 0.9% fall in prices in December 2011 and a 1.3% drop over the whole of the year.

Europe’s worst financial crisis in generations is forging a new European Union, pushing Britain to the sidelines and creating a more integrated, fiscally disciplined core of nations under the auspices of a resurgent Germany.

Services
web

Application Development

app

Blockchain

CMS

Advanced CMS