Key Quotes - Housing

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Last update: Wednesday 25th March




House prices fell by 15.9 per cent during 2008, the biggest annual drop on record, figures showed today. The average cost of a UK home dropped by a further 2.5 per cent in December. Nationwide warned that prices were likely to have further to fall before significant numbers of buyers returned to the market.
Housing	The Sentinel - January 6th, 2009



The number of househunters rose for the first time in two years last month as steep interest rate cuts tempted potential buyers back to the market. But this failed to prevent the number of homes being sold slumping to a new record low, according to the Royal Institution Of Chartered Surveyors. Fourteen per cent more surveyors reported a rise in buyer enquiries during the month than those reporting a fall.
Housing	The Sentinel December 9th, 2008



Around six thousand homeowners have reduced the asking price of their property during the past week, knocking off an average of nearly £17,000 each, figures have shown. The price of 5,803 UK homes listed on property search engine Globrix were cut during the week beginning November 10, with people reducing them by an average of £16,871 or 6.3 per cent each.
Housing	The Sentinel - 19th November 2008



Estate agents are selling less than one property a week as prices continue to tumble. The Royal Institution Of Chartered Surveyors (RICS) said its members had sold an average of just 11.5 homes during the three months to the end of September, the lowest level since its survey began in 1978. The situation is even more severe in London where estate agents have made an average of just eights sales.
Housing	The Sentinel - 14th October 2008



The number of homes changing hands has fallen to a record low as potential buyers continue to stay away from the market, figures showed today. The Royal Institution of Chartered Surveyors said chartered surveyor estate agents sold an average of just 17.4 properties each during the three months to the end of May, the lowest figure since it began collecting data in 1978. Potential buyers have become increasingly reluctant to commit to property purchases in recent months due to the credit crunch. The news comes as the BBC reports tens of thousands of people who took out 100 percent mortgages could face negative equity.
Housing	The Sentinel - June 10th 2008



Britons have collectively seen almost £300 billion wiped off the value of their homes since house prices first began to fall, research showed today. The collective value of residential property in Britain has slumped to £5.836 trillion, from more than £6.1 trillion when prices peaked in September last year, according to property website Zoopla.co.uk.
Housing	The Sentinel - June 12th 2008



More than half a million homes could become uninsurable unless the Government takes steps to protect them from flooding. The Association of British Insurers said the Environment Agency had identified 517,000 homes as being at a “significant risk” from flooding. It warned that its members may not be able to continue to offer cover for them unless the Government ensures adequate flood defences are in place.
Housing	The Sentinel - June 18th 2008



More than half a million homes could become uninsurable unless the Government takes steps to protect them from flooding. The Association of British Insurers said the Environment Agency had identified 517,000 homes as being at a “significant risk” from flooding. It warned that its members may not be able to continue to offer cover for them unless the Government ensures adequate flood defences are in place.
Housing	The Sentinel - June 18th 2008



The cost of carrying out home improvements has soared by around 20 per cent during the past two years. A combination of rising transport and raw material costs and a shortage of tradesmen has pushed up the bill for repairs and improvements such as carrying out a loft conversion or installing double-glazing, according to the Royal Institution of Chartered Surveyors (RICS).
Housing	The Sentinel - June 3rd 2008



Three-Quarters of potential first-time buyers are abandoning plans to get on to the property ladder because of the current housing market downturn, a survey showed today. Around 74 per cent of people said they were putting plans to buy their first home on hold, according to foreign exchange group Moneycorp. A third also said they had tried to buy a home during the past six months, but had been refused a mortgage.
Housing	The Sentinel - July 18th 2008



Thousands of families have still not been able to return to their homes after the floods of almost a year ago, it was revealed today. Some 3,429 households were still displaced at the end of June as a result of the damage wreaked last summer, according to figures released today by the department for Communities and Local Government. However, the Government stressed that the figures were a marked improvement on May, when 4,716 were displaced.
Housing	The Sentinel - July 16th 2008



The savings people can make by buying their own home rather than renting one have nearly doubled on the back of house price falls, research showed today. People would pay out an average of £10,500 less if they bought a property over 25 years rather than rented one, according to Abbey - £426,303 on average compared with £436,789.
Housing	The Sentinel - June 27th 2008



Up to one in 10 families could be plunged into negative equity if house prices fall by 15 per cent, an investment bank has warned. Economists at Morgan Stanley are predictiong house price falls of up to ten per cent this year. This will be followed by a further drop of five per cent in 2009.
Housing	The Sentinel April 18th 2008



The average cost of a home in England and Wales fell by 0.2% to £174,400 but the number of new buyers registering with estate agents rose by 7.9%.
Housing	The Sentential February 25 2008



MPs criticised the Government today for its delay in introducing Home Information Packs (Hips). A select committee said the decision to delay the introduction of Hips was due to a failure of nerve after pressure from the media. Hips were intended to make the process of buying a house quicker and easier and help ensure that less sales broke down.
Housing	The Sentinel - January 3rd 2008

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