Leeds Property Network

News Archive - May 2009

This is our news archive for articles published on the website and sent to our Leeds Property Networking newsletter subscribers. To get the most up-to-date property-related news, before it appears on the website, enter you details in the box on the right.

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Property News Archive for May 2009


Week-Ending
15th May 2009

 

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Fixed Rate Mortgages to Rise
Last week the Yorkshire Building Society, Britannia and the Royal Bank of Scotland stated that they are increasing their rates, as funding costs have risen...so much for Quantitative Easing!!!
Read more of this story here >>>


Dearth of Homes for sale
The number of properties available to buy has fallen sharply in recent months as potential vendors are being deterred by falling prices, new legislation and the unattractive returns they would receive on money released from a sale. Estate agents said the amount of stock they had to sell was down by an average of 25 per cent compared with a year ago - and in some areas by as much as 70 per cent. Or is this just a mischievous way to talk up the competitive nature of supply and demand...less supply may sustain prices or even start to drive them up, on the back of canny estate agents.
Read more of this story here >>>








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Week-Ending
8th May 2009

 

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Bank of England held Base Rate at 0.5% again!
Aas widely predicted, the Bank of England kept interest rates at 0.5%. The Bank also reported that they will be pumping a further £50bn in the markets as part of their "Quantitative Easing" programme. Many commentators are saying that this programme as so far made little difference in the lending habits of the banks.
Read more on this story here>>>


European Central Bank cuts rates to 1.0%
For those interested in the Euro-zone, the ECB cut rates by 0.25% to their lowest ever. The bank also reported an injection of Euro60bn into the markets.
Read more on this story here>>>

Have Estate Agents Stopped the rot on Closures...?
According to a recent report from the house sales/lettings website provider Rightmove, there were no net losses of Estate agencies from their membership, and their lettings membership has increased - is this start of the recovery, or merely a seasonal blip as people look to either sell or move house in this traditional Spring period?
Read more on this story here>>>











Leeds Property Networking cannot be held responsible for the content of any external sites


Week-Ending
1st May 2009

 

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Nationwide hikes rate for new borrowers
Customers taking out new mortgages with Nationwide will no longer revert onto its market-leading standard variable rate once their deal comes to an end...not good news for first-time buyers or investors...
Read more of this story here>>>

Hopes of UK housing recovery set back
Weaker housing data came as the Bank of England said that it would take some time for the full effects of quantitative easing (its radical programme of purchasing government and corporate debt in order to boost demand in the economy) to be felt...
Read more of this story here>>>


...coupled with...

Setback as home loan approvals fall
Tentative signs of a recovery in the housing market suffered a setback as mortgage approvals for home purchases fell in March...
Read more of this story here>>>

Commercial Mortgages at risk

The volume of commercial mortgages at risk of default has grown significantly since the beginning of 2008 as a deteriorating economy has made it increasingly difficult for shops and businesses to keep up with their payments...so watch out for boarded up shops, businesses closing down and yet more doom-and-gloom in towns and cities across the UK...
Read more of this story here>>>

US economy shrinks 6.1 per cent
The US economy continued to contract in the first quarter of this year as business investment collapsed in the face of eroding global demand. And what happens over the pond, generally replicates itself over here...
Read more of this story here>>>

Plus, you can read extended analysis and comments on the 2009 UK Budget here>>>





















Leeds Property Networking
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