Wimpey feels pinch of UK housing slowdown
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George Wimpey, one of Britainâs largest housebuilders, on Wednesday cautioned that total UK volumes this year were likely to fall âsomewhat belowâ previous years as the housing downturn continued to bite.
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New dwelling construction has boomed over the past two years. However, residential investment is likely to slow down, as indicated by Statistics New Zealand&#39;s latest data, confirming an easing of the trend in dwelling consents.
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The average house price in the UK has almost reached Â£200,000, according to the latest survey from the Halifax.
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Housing starts plunged in January to the slowest pace in more than nine years as the latest government reading on the battered housing market came in much weaker than forecasts.
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A drop in the pace of home sales was not enough to keep housing from getting even more expensive across Massachusetts last month.
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YET more evidence emerged yesterday that British interest rates have either peaked, or are extremely close to doing so. House prices fell at their steepest pace in nine years in the three months to September.
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Business & money: But building society produces evidence that upward trend is slowing.
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Home buyers in England face the biggest affordability gaps in South West and London, the Joseph Rowntree Foundation says.
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Housing construction plunged to the lowest level in nearly a decade last month as the housing industry continued to struggle with a severe slowdown.
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The pound has remained on a back foot after a surprise fall in retail sales and house price growth this morning.
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Prices are frozen or falling in most parts of Britain, according to research by Hometrack.
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The pound was edging lower amid indications that inflationary pressures in the UK may be easing, in turn weighing on rate hike expectations.
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House price inflation is now easing off, according to the latest monthly survey from the Halifax.
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The squeeze on home buyers' finances is highlighted by TUC and the Royal Institution of Chartered Surveyors reports.
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The asking prices of homes put up for sale in England and Wales have fallen sharply in December, Rightmove says.
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UK manufacturing grew at its slowest rate in 18 months during January, a survey says, prompting fears a recovery is running out of steam.
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UK house prices grew by 0.1% in August, the slowest monthly increase for almost three years, the Nationwide building society says.