Lending to home movers dropped last year at a national average of eight per cent, according to the Council of Mortgage Lenders (CML). Wales performed better than the average with only a five per cent decrease in the number of loans to home movers.
Some 19 of the top 20 UK towns where residents expect prices to grow are located in the South, while 17 of the 20 locations where people are predicting price drops are in the North, according to a study by Rightmove.
Some 63 per cent of Brits planning to move home think local property prices will not be lower 12 months from now, according to Rightmove. While 41 per cent predict prices will be more or less the same, 22 per cent expect prices to be higher.
Remortgaging was on the increase during the summer, according to figures released today by the Council of Mortgage Lenders. In August 34,100 loans were taken out worth a collective £4.2 billion, more than 30 per cent higher than the previous year.
The credit crunch led to the lowest proportion of recent homemovers on record in the UK, according to new figures released by the Official of National Statistics, which show that during 2008/09 only 9 per cent of households had moved to their current address within the previous 12 months.
The New Year brought with it a renewed interest in property valuation, with 9 per cent more homeowners getting their house valued last month, according to the latest report from Connells Survey and Valuation.
House Price Index
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- Property prices ‘resilient in 2011’
- Property sales to rise, but house prices to fall in 2012
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- Investigation into consumer understanding of energy bills
- EDF Energy to cuts gas costs by 5%
- Energy saving tips from ConserveEnergy
- UK fuel poverty hotspots revealed
- Ofgem outlines Smart Meter protection plan
- E.ON energy price rise to kick in tomorrow
- Northerners paying more for home energy
- Families blame each other for energy wastage
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- UK homes braced for biggest ever energy bills