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HOUSE prices in Liverpool rose by 4.9% last year, more than three times the national average.
Figures from the Land Registry showed prices in the city bounced back by £7,000 on average in 2010.
But prices in other parts of Merseyside are at their lowest level for more than six years as the number of sales remains less than one-third of the levels seen before the recession.
St Helens was the fourth worst hit area in the country – behind Blaenau Gwent, Redcar and Cleveland, and Denbighshire – while prices in Wirral also fell in 2010.
Liverpool had a really strong spring – in April its year-on-year prices were down 9%, but by July was into positive territory.
The city’s average house price rose slightly last month to £104,654 to consolidate its strong annual growth.
However its average remains more than £20,000 below the peak seen in June 2007.
More options for buy-to-let borrowers
08.10.2010
While conditions for buy-to-let (BTL) investors are still far removed from the heady days of 2007, there are some signs of promise in the market.
Research conducted by Moneyfacts.co.uk has found that rates in the BTL market are falling, and the number of lenders and products is increasing.
Aldermore has made a successful entrance to the BTL market, while The Mortgage Works continues to offer the widest choice for borrowers.
This time last year there were 45 active lenders in the BTL sector; today there are 54. In the last month alone both Darlington BS and Paragon have returned to the BTL fold.
The number of mortgages available continues to grow. Noticeably, the deals for landlords with a 20% deposit have seen a threefold increase in the last year, after dwindling away to virtually nothing the year before.
There are now 12 deals at this level to choose from, with numbers increasing markedly as LTV levels fall.
Investors looking for a 75% LTV mortgage currently have a choice of 99 products, up from 65 in October 2009.
Over the same period the number of 60% and 65% LTV mortgage available to BTL investors has increased from 68 to 82 and 29 to 57 respectively.
Those looking to fix their rates have seen the average charge fall from 6.01% to 5.49%, although the average variable product has increased from 4.50% to 4.74%.
"The BTL market has taken a big hit in the last few years, but it is slowly starting to fight back.
"Lenders are returning to the market, bringing much needed competition back to the sector," said Michelle Slade, spokesperson for Moneyfacts.co.uk
"The best deals will continue to be offered to those with a sizable deposit, but those with just a 20% deposit are starting to see more options.
"Rental income and tenant demand continue to rise due to an increase in people opting or needing to rent rather than buy.
"The market has also seen a rise in the number of accidental landlords, as some borrowers are taking in lodgers in order to be able to afford their mortgage.
"Affordability remains a key issue in the BTL market.
"Rental income does not move with base rate and lenders are concerned that borrowers on variable rate deals may not be able to meet repayments when rates rise."
House prices rise 8.2 percent in May 2010
(Reuters) - House prices in England and Wales fell 0.2 percent on the month and rose 8.2 percent on the year in May, figures from the Land Registry showed on Monday.
Read the article
http://r.reuters.com/zaq54m
Interest Rates to remain low
The Bank of England's base rate of interest will remain at its current record low of 0.5 per cent for another month at least.
Some analysts have predicted that the measure will rise at some point in 2010, with a handful even raising the possibility of a 0.5 per cent hike in March.
However, the Monetary Policy Committee's decision for February was widely expected and means the base rate has been set at its record low for one month shy of a year.
In the meeting, it was noted that the economy has returned to growth, albeit in a sluggish manner. Other positive factors were cited, including a pickup in household spending, the easing of the decline in business investment and the increasing demand for UK exports.
However, a rise in inflation and a continuing restriction on credit meant the Committee thought only a gradual recovery was likely.
The MPC also voted to maintain the size of its £200 billion program of quantitative easing, although it hasn't ruled out enlarging the scheme in the future.
The minutes of the meeting, which will reveal whether the MPC's decision was unanimous, will be published on Wednesday 17 February.
The next base rate decision is scheduled for Thursday 4 March.
House prices on the rise
House prices have started the year as many homeowners, estate agents and politicians hope they go on – with a rise.
The 0.6 per cent increase takes the average house price in the UK to £169,777 and means values have now increased for seven months in succession.
Since the housing market reached what is widely considered its low point in April 2009, the average price of a home has risen by just shy of ten per cent - adding just over £15,000 to values.
It is, however, the smallest monthly rise since the upturn started back in July of last year.
House prices are improved by 3.6 per cent on the same month last year. In fact, this is the largest increase in the annual rate of change – measured by the average for the last three months against the same period a year earlier - since February 2008.
Highlighting the improvement seen in the last 12 months, the comparable rate a year ago was -17.2 per cent.
However, Martin Ellis, housing economist, urged caution for the 12 months ahead.
"The marked reduction in interest rates over the past 15 months has, from a low base, boosted housing demand from those with a sufficient deposit to enter the market," he commented.
"Increased demand has combined with a low supply of properties available for sale to push up prices.
Neil Dentith of Keybanks added "people having been wanting to move for a while but haven’t been in a position to, fortunately with now with lower mortgages being offered and people not having to pay upfront for H.I.P.s they can finally start looking to unlock the door to their next home with Keybanks sales and lettings agents".