In the year to February, the consumer prices index (CPI) rose by 3.0 per cent, down from 3.5 per cent in January.
The largest downward contribution to this change in the CPI annual rate came from recreation and culture where prices were largely unchanged between January and February this year but rose by 1.1 per cent a year ago.
Categories: Economy
Our sister company IVA Debt Problem have updated their website to include additional debt related pages and a 'Debt Savings Calculator'.
Categories: Website Updates
In the three months to January, tenant demand for residential property continued to rise, reveals the RICS residential lettings survey November 09 - January 2010
A net balance of 16% more surveyors reported a rise in demand for property than a fall. Within this, there was greater demand for houses than previously, with 27% more surveyors reporting a rise. This compares with 23% in the previous quarter. Respondents reported that demand for flats continued to edge up although at less than half the pace of that for houses.
Categories: Economy
Rents rose 0.3% in February, according to the latest Buy-to-Let Index from LSL Property Services plc, which owns the UK's largest lettings agent network.
The average rent reached £658 per month, which is 3.2% higher than a year ago, roughly in line with inflation. Yields on buy-to-let property rose to 4.8%.
The total return from investing in buy-to-let over the last twelve months reached 10.6%, the highest level since LSL Property Services plc began compiling figures two years ago. This is despite a slight drop in house prices in February.
Categories: General
Don't expect a best-buy mortgage from any Government-backed lenders, with Lloyds Banking Group and Northern Rock failing to make the best-buy tables with any deals according to analysis from Evaluate Technologies.
The bailed-out lenders – dubbed the 'Bank of Gordon' offer only eight of the 50 best-buy mortgages and products from Lloyds Banking Group currently fail to make any of the best buy lists.
Categories: Financial
According to new figures out from property website Zoopla.co.uk, houses prices were up by 4.7% in the last half of 2009. This was a gain of 2.5% for the year, revealing the extent of the property market turbulence during 2009.
The UK lettings sector is moving towards a European model that sees tenants rent over long terms as part of a lifestyle choice, according to lettingsearch.co.uk.
They recently conducted a pole which revealed that 41% of current tenants cannot raise the money for a deposit or secure a mortgage, suggesting that an increasing amount will have to turn away from home ownership.
A Protection Oversight research undertaken on behalf of Friends Provident revealed that nearly half (24 million) of people in the UK have no insurance in place to cover loss of income through illness or death of a breadwinner.
Even those that have considered taking some action would be underinsured by an average of £14,500 per year!
Categories: Financial
Total UK personal debt at the end of January 2010 stood at £1,463bn, a twelve month growth of 0.8%, reveals results from Debt Facts and Figures.
Total lending in January 2010 rose by £2.0bn; secured lending increased by £1.5bn in the month; consumer credit lending increased by £0.5bn. Secured lending on properties at the end of January 2010 stood at £1,237bn, the yearly growth rate was 1.0%. Total consumer credit lending to individuals at the end of January 2010 was £225bn.
The latest Agency Express Property Activity Index shows that the UK's house sales activity has dramatically sprang back in to life during February.
Nationally, the number of houses sold in February has rocketed by a massive 136.6% - which is more than double the sales achieved in January. These are the highest levels of sales achieved for almost two years. (Since March 2008)
Categories: Financial
