The average price of property in London has increased by 19% and England and Wales increasing by over 9% in the last year.
Read More
Category Archives: Help to Buy scheme
Demand for new-build homes is driving a boom in house building with construction growing for the fifteenth consecutive month.
The European Commission is concerned with Britain’s house price inflation calling on the Chancellor to “deploy appropriate measures”.
Data from the Treasury shows that 80% of borrowers of the controversial Help to Buy scheme are first time buyers mainly from outside London.
The UK largest lender, Lloyds Banking Group, will limit mortgage lending to four times on loans of £500,000 to homeowners.
The current rate of house price inflation is not a major concern for the Bank of England as a property recovery was expected.
The OECD has warned that UK house prices were rising at an alarming rate when compared to rents and household income.
Data from the Bank of England shows the number of people taking out mortgages in February has fallen for the first time in the last year.
House prices were up 6.8% in January since a year earlier after a lost decade of building leaves the UK with a significant shortfall in homes.
Mortgage lender Halifax reports a 2.4% rise in house prices for February with pressure on the government to cancel Help to Buy scheme.