Reuters (US): Income Falls, Core Inflation Picks Up U.S. consumer spending was unchanged in January, a government report showed Monday, and a sharper-than-expected pickup in inflation sparked fears the Federal Reserve may raise interest rates faster than expected.
ThisisLondon: New buyers back for houses New buyers are returning to the housing market confident that interest rates have peaked, according to a study published today. The number of buyers registered with property website Hometrack jumped 28.5% last month.
Top News Article | Reuters.co.uk House prices have fallen for the eighth consecutive month in February, property research company Hometrack says, leaving the annual gain at just 0.3 percent, the lowest in the survey's 3-1/2-year history.
Sunday Herald: Buy-to-let - the end of the dream David Taylor couldn’t bear to hand over his hard-earned cash to a pension fund investment firm. The 40-year-old Glaswegian had built up a successful private detective agency and he wasn’t about to let a stranger take control of his life savings only to find out 25 years later that the money had barely grown, or worse still, had disappeared altogether.
The Independent: Call to cut stamp duty burden on first-timers Halifax, the UK's fifth largest bank, has written to MPs and members of the Scottish Parliament, warning that first-time buyers in 98 per cent of the UK's constituencies are now paying stamp duty, compared with just 13 per cent of constituencies a decade ago.
Realty Times (US): My Rate Prediction It took me a few days to decide whether to write this column. I've been burned before and of course, no one can predict where interest rates are headed so I certainly won't do that. But it's possible, interest rates are getting poised to get real high, real fast.
The Herald: Lomax strikes hawkish tone on rates Rachel Lomax, a deputy governor of the Bank of England, struck a hawkish tone on interest rates in Liverpool yesterday when she highlighted the need for the monetary policy committee to be "pre-emptive".
Mortgage Introducer: Fixed rates on the up Moneyfacts report a trend of increasing interest rates for fixed rate mortgages over the last two weeks supporting the thinking that the next movement in base rate will be upwards.
Guardian:To the village of hate with an olive branch On Saturday a crowd gathered in the small Breton village of Bourbriac. Angry at the number of French houses being snapped up by the English, they burned estate agents' brochures and demanded 'Brits out'. So in the spirit of the entente cordiale, Stephen Moss set off on a one-man peace initiative
CNN Money: Mortgage applications fall Applications for U.S. home mortgages fell last week as a drop in home purchasing activity offset a marginal increase in refinancing, amid rising in interest rates, an industry group said Wednesday.
Western Daily Press: Is another property bubble on the horizon? To read the financial press at the weekend and yesterday, one would assume the housing market slowdown is already over. Already the media is reporting that house prices are rising aggressively, driven by the release of the latest Rightmove figures which show asking prices up 2.3 per cent in February.
The Guardian | As demand falls, so will house prices What are we to make of the housing market at the moment? The news was negative all through the autumn - the number of buyers was falling, mortgage lending was collapsing and, as a result, prices were dropping. The great 2004 housing market fall appeared to be on us.
Times Online - Newspaper Edition IS IT JUST ME .... or has the boom in house prices made us all a bit too greedy? If you bought a house for £150,000 ten years ago, it could now be worth more than £425,000 – an increase of 183%. It’s not a bad return, especially if you have been living in your investment. House-price inflation is now running at 13.7%, according to the Halifax index. Admittedly, it’s past a peak of 22% last July, but it’s still completely barmy.
Times Online - Newspaper Edition THE number of buy-to-let landlords unable to meet their mortgage payments jumped in the second half of 2004, according to new Council of Mortgage Lenders (CML) figures.
Telegraph : The Bank is hedging its bets on rates Is the Bank of England trying to have its cake and eat it? You could be forgiven such ungracious thoughts after the publication of last week's Inflation Report, its quarterly tome on the state of the UK economy.
This is Bradford: Chips are down for quick house sales A Bradford company is set to revolutionise house-buying in the UK with a computerised system. Abode Conveyancing said the new system would speed up the sale of property and would be run in close conjunction with the Government's new home information packs.
CNN.com: Bank hints at Australian rate rise The governor of Australia's central bank gave a strong hint Friday that the bank will soon raise interest rates for the first time since December 2003 even though the nation's housing boom has been largely subsiding.
The Guardian: Street wiseWant to know how much next door paid for their house? A new website that tells all is attracting 500,000 visitors a day. Leo Benedictus taps in his postcode and confronts the neighbours with the results ....... more good media coverage for nethouseprices.com
Aberdeen Independent: When will the bubble burst? If house prices crash, all agree, High Street spending plunges too. Economist Roger Bootle, predicting "The year the luck runs out", says the Bank of England will slash interest rates in the next year to keep the good times rolling.
In2perspective : Essential Summary - Feb 05 This week has seen the publication of two important house price surveys. One from the Royal Institution of Chartered Surveyors the other from the Office of the Deputy Prime Minister.
Daily Mail: House price growth slows Further evidence of slowdown in the housing market emerged today as Government statistics revealed the price of the average home is irsing at rose at its slowest annual pace in 15 months.
Guardian: Buy-to-let loses its shine Enthusiasm for buy-to-let property investments showed signs of fading at the end of 2004, according to a report published today by the Council of Mortgage Lenders (CML).
IMPORTANT: We will be taking the Forum down at 08:15pm tonight. We are upgrading to the latest vision of the Invision Powerboard. You probably won't notice any difference but there are quite a few bug fixes in the latest release. We are confident that the forum will be back up and running again tonight but you never know with upgrades, so fingers crossed!!!
Reuters.co.uk: Manufacturing up in December Manufacturing output rose at its fastest pace in seven months in December and at twice the expected rate, suggesting that a fourth quarter economic rebound was even stronger than first reported.
ABC online (AUS): Interest rate rise likely The Reserve Bank has warned of a likely increase in interest rates to combat the growing threat of inflation. In its quarterly statement on monetary policy, the bank said inflation would be pushing its acceptable upper limits by next year. The warning came as the Treasurer, Peter Costello, signalled that sweeping industrial reforms would ease the pressure on interest rates.
CNN Money (USA): Will housing prices pop? Is the real estate market a dangerously overvalued bubble that needs to pop sooner than later, or is the market for homes strong enough that prices can and will keep rising?
January car sales down - 4Car News from Channel 4 New car sales in the UK fell by 8.2 percent last month, though 181,474 new cars hit the road nonetheless. This is not so much down to everyone feeling skint after Christmas - most of these cars will have been ordered long beforehand - as representative of general downwards trends after record sales in 2003.
Times Business: Property prices slide 2.7% Hosue prices across England and Wales fell 2.7 per cent in the final quarter of last year, according to official figures today that give the first formal confirmation of the property downturn.
Times Property: Who will come down hardest? House prices fell in January for the seventh month in a row, according to Hometrack, which gathers information from estate agents. Everybody now agrees that the boom is truly over. But who will bear the brunt of the property downturn?
Telegraph | Property | Why won't it sell? A Grade II-listed, half-timbered Tudor home, with its six bedrooms, kitchen garden and acre of paddock, would normally send most would-be buyers into a drooling frenzy. So, says Sarah Lonsdale, one question...
Credit Action: Debt statistics update Britain's personal debt is increasing by £1 million every four minutes.....By December 2004, nearly 54,000 people had fallen between three and six months behind with their mortgage repayments, an increase of nearly 10 per cent from the start of the year when rates were still below four per cent
Times Online - Newspaper Edition: House prices fell in January for the seventh month in a row, according to Hometrack, which gathers information from estate agents. Everybody now agrees that the boom is truly over. But who will bear the brunt of the property downturn?
This is London: Bankruptcies leap by a third Britain's mounting consumer debt problem was highlighted today with record numbers of individual insolvencies unveiled. More than 13,000 people declared themselves insolvent during the final quarter of 2004, an increase of 34.6% on the same period last year.
The latest house price news - Wanadoo Money New research shows that the recent property slowdown may have come to an end. House prices rose by 0.8% in January, according to the latest figures from the Halifax bank. This is the second successive monthly climb in prices, following a 1.4% increase in December.
ThisisLondon: Gillette deal highlights UK job losses Procter & Gamble's £31bn overnight bid for Gillette has sparked fears of hefty job losses in the company's UK workforce. It has also highlighted the extent of manufacturing sector job losses over the past six months.
Telegraph: Playing the property market Twelve years ago Ibosa Oshodin was a railway bookings clerk. Then, with a £2,000 deposit, he bought his first house. Now he owns more than 100. He tells Cheryl Markosky when to buy – and sell.....should provoke some lively discussion on the forum...Webmaster!
Argus Leader - Business Federal Reserve policy-makers are likely to keep bumping up short-term interest rates this year, a defense against an inflation flare-up now that the economic expansion is on firm footing.
Telegraph | Money | Carpetright blames sales crash on housing market Carpetright, the world's largest carpet retailer, has blamed the slowing housing market for a collapse in sales in January. Same-store sales fell by 7.5pc with Darren Shapland, finance director, saying: "We expected to be down in January but were disappointed by how much. We had thought 3-4pc."
In2perspective : Monthly Newsletter - January '05 Edition The New Year has arrived and we have all begun to get used to writing 2005 instead of 2004. We thought we would start the year by sharing our thoughts on the prospects for the property market, looking briefly at the predictions various commentators have made.