The Bank of England’s stunning move to clamp down on rising house prices sent shockwaves through the City’s listed housebuilders, wiping more than one billion pounds off the sector as panicking investors dumped the shares.
Governor Mark Carney’s comments over “evolving risks” and a package of measures to rein in mortgage lending, including changes to its Funding for Lending scheme and potentially more stringent affordability criteria for borrowers, sent traders running for cover.
London Mayor Boris Johnson wants to establish up to ten residential enterprise zones in the capital which would enjoy streamlined planning and other tax incentives as part of the capital’s new draft housing strategy.
Such housing zones would be located in existing Opportunity Areas of which there are currently 33 across the city.
The draft strategy includes a new minimum annual target of 42,000 new homes and reveals proposals to set up a London Housing Bank next year with funding of £160m from the Greater London Authority.
RICS advises homeowners to check flood prevention measures on their property
With heavy storms occurring and weather warnings being issued across many parts of the United Kingdom, RICS has today called on homeowners to check that they have all their flood protection measures in place and to prevent additional problems by making sure things such as gutters and drains are cleared of blockages.
New CML data released today on the profile of lending in September and the third quarter of 2013 reveal the highest quarterly house purchase lending levels since 2007.
Total home-owner house purchase lending fell in September, down 14% on August but up year-on-year by 20%. Lending in the third quarter of 2013 was at its highest quarterly level since 2007.
Lending to fund construction of residential property has shrunk by 10% in the last five months, despite the introduction of the first phase of the government’s Help to Buy scheme to stimulate activity in the new build housing market, says EMW, the c ...
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