Value of private U.K. housing passes £5 trillion: The total value of the U.K.’s private housing stock has passed the £5 trillion mark this year as the property market recovery has taken off, a report has found.
Americans line up £1 billion London homes spree: A club of American businessmen has struck a deal to build £1 billion of flats and houses in London with the capital’s second-biggest developer, Galliard Homes.
LONDON (Alliance News) - The house prices sentiment index continued to remain positive in November, though it was at the lowest level in twelve months, results of the household property prices sentiment survey from Markit Economics showed Friday.
The house prices sentiment index, or HPSI, came in at 58.4 in November. This marked the twentieth consecutive month of rise in prices.
A reading above 50 indicates price rise.
However, the latest reading was less than the 60.7 score recorded in October and also marked the lowest reading in twelve months.
The future HPSI, a measure of expectations of households regarding property value, rose to 71.1 in November from 70.8 in the previous month.
"As we head into the winter, short-term factors dampening UK house price sentiment include the less favourable economic newsflow, stretched affordability amid weak underlying pay trends and, at the upper end of the market, a degree of hesitancy ahead of next year's General Election, " Tim Moore, senior economist at Markit, said.
UK house price index advanced more than expected in September
In September, on a YoY basis, the ONS house price index in the UK recorded a rise of 12.10%, compared to a rise of 11.70% in the earlier month. Markets were anticipating the house price index to climb 11.20%.
Private rental costs set to nearly double by 2040 while wages rise just 40% sending millions into poverty, claims study: A lack of house-building could see private rents rise more than twice as fast as incomes in the next 25 years, sending more than half of England’s private renters into poverty, a new study has warned.
UK construction output advanced less than expected in September
In September, on an annual basis, construction output registered a rise of 3.50% in the UK, lower than market expectations for an advance of 4.30%. In the prior month, construction output had registered a revised rise of 0.80%.
UK Rightmove house price index declined in November
The Rightmove house price index recorded a drop of 1.70% in the UK on a MoM basis, in November. The Rightmove house price index had climbed 2.60% in the preceding month.
Battersea’s Covent Garden Market to get ‘facelift’ in £2 billion regeneration plan: The Nine Elms area in Battersea, south-west London, has been given a double boost, with the wholesale market granted planning permission for a significant facelift, including the construction of 3,000 homes, and the transport secretary approving a £1 billion connecting Underground line.
The banking industry’s bill for bad behaviour: $300 billion: More penalties for foreign exchange manipulation, Libor-rigging and mis-selling could take the total fines levied on the banking industry above $300 billion (£190 billion), analysts have predicted.
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