Investment bank Morgan Stanley predicts that house prices will fall by 15 per cent in the next two years, pushing one in 10 homeowners into negative equity, with first-time buyers being particularly affected. The report warns that these estimates may be too conservative as the figures do not take into account mortgages taken out this
In a joint letter to housing associations the Housing Corporation and Local Government Association have called on them to continue to work closely with local authorities to help boost affordable housing supply. The letter says that while housing delivery targets for 2008/09 remains on track ‘more than ever we will need to work together to
New private house starts are at a 50-year low after orders in the three months to August 2008 fell 33 per cent compared with the previous three months, and 48 per cent year-on-year, according to figures from the Office for National Statistics. Public housing and housing association orders in the three months to August 2008
The Bank of England has cut interest rates by half a percentage point to their lowest level since the bank was founded more than 300 years ago. Interest rates have now come from 5 per cent since October 2008. The cut was widely expected, but many business organisations were calling for a larger cut to
Who should have the final say on planning applications and housing funding in London? It seems a simple question but the answer is developing into a spat between the mayor, Ken Livingstone, and the London boroughs represented by the Association of London Government (ALG) that could have a major impact on affordable homes in the
Halifax, the UK’s biggest mortgage lender, has raised its house price inflation forecast for the year from 4 per cent to 6 per cent, despite higher interest rates. The bank made the change after house prices rose faster in the first six months of the year than it had expected because of a stronger economy
The Royal Institution of Chartered Surveyors (RICS) has said that government targets to make all new homes zero carbon by 2016 are not realistic. RICS said the government will struggle to meet its target, as building zero carbon homes is currently too expensive, but a 70 per cent reduction could be achievable through building energy
One in three Britons is worried their home may be repossessed, with three-quarters of people claiming the government should do more to help struggling homeowners. Consumer group Which? found that 35 per cent of people with a mortgage say they are worried to some degree that they may lose their property, while six in 10
HOW CAN WE build the new homes we need and help save the planet? That’s the key question addressed in the March/April issue of ROOF, an environment special. The magazine includes an interview with Kate Barker, articles from leading environmentalists Jonathon Porritt and George Monbiot, an attack on conservationists from former Telegraph editor Charles Moore
House prices in England and Wales rose 9.1% in the year to April – the fastest rate for two years – according to Land Registry figures released this morning. The rate in April 2006 was just 4.1%. London and Brighton led the way with rises of 15.6%. Gross mortgage lending rose 12% in the year