Primelocation

Prime central London rents are falling heavily, despite substantial increases in supply, according to the results of the last quarterly survey by residential agents Knight Frank. For story go to http://www.primelocation.com/news/rents-go-down-as-accidental-landlords-increase/

The Bank of England has maintained the base rate at 0.5%, as expected. The base rate is, in truth, so low that it is difficult to believe it could be cut further. But the signals from the Bank are also cautiously good news for the property market, which may be near its lowest point. For

The collapse of the Dunfermline Building Society does not shake the foundations of the global financial sector in the way that the problems of RBS, Halifax and Citigroup did. Yet it could have serious implications for UK mortgage lending. For story go to: http://www.primelocation.com/news/Dunfermline-blow-to-mortgage-market/

Mortgage lending jumped 19% in February, giving hope that the property market might now begin a slow recovery. However, the latest figures must be treated cautiously as lending remains at less than a third of the level at its peak in mid-2006. For story go to http://www.primelocation.com/news/a-hint-of-recovery/

London is no longer the most expensive city in the world for prime properties, following a dramatic 17% fall in house values in the last year. But the Fitzrovia area of London is the world’s most attractive up-and-coming prime location, according to a report on international prime residential properties. For full story go to http://www.primelocation.com/news/london-no-longer-the-worlds-most-expensive-for-property/

For people of a certain age, inflation was the great evil – it destroyed wealth and savings. Now, we are told, deflation is the real threat – and unless deflation is conquered there is little chance of the housing market recovering. For full story go to http://www.primelocation.com/news/deflation-a-serious-threat-to-the-housing-market/

A big increase in single households could help drive another house price bubble after the economy recovers, a new survey suggests. For full story go to http://www.primelocation.com/news/rise-in-singles-puts-extra-pressure-on-housing/

A much stronger system of mortgage regulation looks inevitable, following the publication of the Turner Review of banking. Borrowers requiring large mortgages as a proportion of a home’s value or their household’s income will be more likely to have their applications rejected. For full story go to http://www.primelocation.com/news/stricter-mortgage-regulation-on-way/

Councils are being urged to bring empty homes back into use, after the biggest annual increase in vacant properties in 17 years. Housing minister Margaret Beckett is telling councils she wants them to take action to compensate for the shortage in new dwellings by ensuring that more empty homes are reoccupied. For story go to

Encouraging signs are appearing that people want to buy houses again – yet enquiries are still failing to convert into sales. For story go to http://www.primelocation.com/news/home-enquiries-up/

Base rates have been cut to a new all-time low of a mere half a per cent, the Bank of England has announced. Underlining the weakness of the economy, the Bank also confirmed expectations that it is to increase money supply through an unfunded £75bn asset purchase programme. For story go to http://www.primelocation.com/news/bank-of-england-gets-desperate/

Northern Rock has been given the go-ahead by the Government to make £14bn of new mortgage lending available over the next two years. The move could provide an important stimulus to the housing market. To read the full story go to http://www.primelocation.com/news/northern-rock-resumes-lending/