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Read more about the latest developments for Castel.

Mar 212018
 
 March 21, 2018

UK inflation cooled last month as the impact of the Brexit-hit pound on everyday prices began to “work through the system”. Figures from the Office for National Statistics (ONS) show the Consumer Prices Index (CPI) eased to 2.7 per cent in February, down from 3 per cent in January. The outcome was lower than the 2.8 per cent predicted by economists and marked the first fall in inflation since December. Sterling’s slide since the Brexit vote has ratcheted up the pressure on household spending power, climbing from 0.6 per cent shortly after the EU referendum result to a near six-year high of 3.1 per cent in November 2017. Slower growth from

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Feb 012018
 
 February 1, 2018
House price growth in surprise pick-up, says Nationwide

Annual house price growth picked up to 3.2% in January, according to the Nationwide building society. The rate was higher than December’s annual rate of 2.6%. The society said January’s figure was “a little surprising” given signs of weakening consumer activity elsewhere. It also said that mortgage approvals were at their weakest in three years in December, with 61,000 granted. That compares with an average of 67,000 approvals in the previous 12 months. Robert Gardner, the Nationwide’s chief economist, said: “The acceleration in annual house price growth is a little surprising, given signs of softening in the household sector in recent months. “Retail sales were relatively soft over the Christmas period,

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Jan 182018
 
 January 18, 2018
Outlook for UK property market in next 12 months is more upbeat

The 12 month outlook for UK residential property prices and sales is more upbeat with Scotland, the North East of England and Northern Ireland seeing stronger activity, according to the latest industry survey. While agreed transactions fell at a national level in December with sales flat or negative across the rest of the year, surveyors are more optimistic, the survey from the Royal Institution of Chartered Surveyors (RICS). But there is unlikely to be a sudden improvement with sales expectations nationally remaining flat over the coming three months. However, signs of movement are there for a pick up during the year across all regions with London recording its first positive

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Jan 082018
 
 January 8, 2018
2017 house price growth ease to 2.7% - Halifax

Prices in the last three months of 2017 were 2.7% higher than in the same three months a year earlier although the annual change in December was lower than in November (3.9%) House prices in the final quarter (October-December) were 1.3% higher than in the previous quarter (July-September), down from 2.3% recorded in October and November On a monthly basis, prices also fell by 0.6% from November following a 0.3% increase in both October and November; this is the first fall since June 2017 The average price of £225,021 at the end of the year is 2.4% higher than in January 2017 (£219,741) HOUSING ACTIVITY Monthly UK home sales exceed

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Jan 032018
 
 January 3, 2018
U.K.'s Biggest House-Price Jumps Came Outside London Last Year

An English spa town and two coastal areas saw the biggest house-price increases in the U.K. last year, outstripping gains in London’s hotspots. Cheltenham in southwest England saw a 13 percent jump in prices in 2017, almost five times the national increase of 2.7 percent, Bank of Scotland Plc’s Halifax division said Tuesday.  The average house in the town, famous for its annual horse-racing festival, rose to 313,150 pounds ($423,000). Bournemouth and Brighton, both on England’s south coast, saw the next highest gains, with prices rising more than 11 percent in each. House-price growth has slowed this year, with London a particular weak spot, thanks to a sluggish economy and a

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Dec 152017
 
 December 15, 2017
2018: A tale of different markets leads to Rightmove forecast of +1%

National average forecast of 1% growth in new seller asking prices in 2018 as the net result of upwards price pressures in some sectors and locations mitigated by negative price forces in others: Price growth in lower and middle sectors of the market set to continue in 2018, with Rightmove forecasting average growth of 3% for typical first-time-buyer and 2% for second-stepper properties Top of the ladder properties, predominantly influenced by ongoing re-adjustment in London and its commuter-belt, predicted to fall by an average of 2% 2017 finishes up with annual rate of +1.2%, with December seeing a seasonal price fall of 2.6% (-£8,178) in the price of property coming

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Nov 062017
 
 November 6, 2017
Pick up in annual house price growth in October - Nationwide

UK house price growth edged up to a three-month high in October according to Nationwide. Annual house price growth picks up to 2.5% Modest 0.2% month-on-month increase N.B Full table of results at end of the article. Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “The annual rate of house price growth picked up slightly in October to 2.5%, from a revised 2.3% in September. “Nevertheless, annual house price growth remains within the 2-4% range that has prevailing since March. Low mortgage rates and healthy rates of employment growth are providing some support for demand, but this is being partly offset by pressure on household incomes, which appears

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Oct 262017
 
 October 26, 2017
NHBC reports highest third quarter new home registrations in a decade

Builders registered nearly 38,000 new homes in the UK during Q3 2017, according to NHBC’s latest new home registration statistics, the highest Q3 total since the recession. In the period July – September 37,936 new homes were registered, representing a 6% increase on the 35,946 registered in the same period last year. The private sector saw a 9% increase for the quarter (Q3 2017: 29,083 vs Q3 2016: 26,611), with 8,853 new homes registered in the affordable sector, a 5% decrease on Q3 2016 (9,335). Seven out of the 12 UK regions experienced growth in registrations, when compared to the same period last year. Scotland (3,056 +50%), East Midlands (3,575

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Oct 172017
 
 October 17, 2017

U.K. inflation reached 3 percent for the first time in more than five years in September, taking the economy closer to what one Bank of England official described as a “tipping point” for policy. Consumer prices, boosted by the cost of food and transport, climbed at the fastest annual pace since April 2012. That intensifies the squeeze on British households and may embolden BOE policy makers to raise interest rates for the first time in over a decade next month. That view was given some backing by Governor Mark Carney in testimony to lawmakers in London on Tuesday, when he reiterated his view that a rate hike may be coming. “Having used

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Sep 282017
 
 September 28, 2017
UK Property Demand Continues Upward Trend for 2017

The latest National Hotspots Index from eMoov.co.uk shows that UK property demand has increased during Q3, up +5% to 38% nationally, having already increased by an initial +5% during Q2.  The index looks at the balance between the supply and demand for housing stock and attributes a percentage score based on the level of stock available on the major property portals, to that which has already sold. National Overview Scotland has seen the strongest growth in demand levels across the mainland UK, up +8% in Q3 to 39%. Wales has also seen healthy growth in buyer demand, up +7, whilst England is the only nation to see buyer demand fall

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