The latest RICS Residential Market Survey has revealed a slight pick up in price momentum in March, putting the headline price net balance at 21 (up from a revised balance of 15 in February). This was despite demand remaining broadly unchanged over the month, with the upwards pressure created by a further tightening of supply, as most areas saw a decrease in the number of new instructions received (the net balance of new instructions read -9, worsening from the reading of -8 in February). This combination has kept sales levels muted, with largely unchanged activity levels reported (the agreed sales net balance gave a reading of -1 from a revised 0 the previous month). However, expectations have risen on both a sales and price level: a net balance of 15% of respondents expect activity levels to increase in the next quarter, and a similar balance (16%) predict price rises
Housebuilder firm Persimmon sees 6% jump in sales as election triggers planning permission delays: Housebuilder Persimmon has reported a jump in sales, but said the General Election is causing delays in securing planning permission for new homes, it says.
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Households’ heavy debts could hurt the U.K.’s economic recovery: Britons are still carrying heavy private debts, the International Monetary Fund (IMF) warned yesterday, which could hamper the burgeoning economic recovery.
Abu Dhabi Investment pockets €750 million for Deutsche Annington: The Abu Dhabi Investment Authority sold off its remaining 14% stake, or 23.5 million shares, in Deutsche Annington for close to €750 million
CML figures have revealed that house purchase lending declined in February, as seasonal factors and political uncertainty took their toll. The number of loans advanced (40,600) fell by 1% monthly and by 16% compared with February 2014, while the value of those loans (Â£6.8bn) fell by 3% and 13% respectively. Remortgage lending also decreased, following a slight uptick at the beginning of the year - the number of loans advanced (21,500) posted a drop of 16% monthly and 14% over the year, while the value (Â£3.3bn) decreased by 20% and 11% respectively. The buy-to-let sector was the only area to display positive annual growth, up 11% by number and 16% by value (15,900 loans were advanced at a total of Â£2.2bn). However, despite the slowdown in house purchase lending, Paul Smee of the CML said that they "still expect to see an upturn in the spring and summer months".
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