Keywords
Citation
(2005), "Economic news", Structural Survey, Vol. 23 No. 1. https://doi.org/10.1108/ss.2005.11023aab.003
Publisher
:Emerald Group Publishing Limited
Copyright © 2005, Emerald Group Publishing Limited
Economic news
Economic news
Keywords: Economy, Mortgages, House prices, Tender prices
Loans for house purchases fell last month for the third month in a row, according to the latest figures from the Council of Mortgage Lenders which show that loans for home purchase fell to £10.3bn in October – the lowest level since February this year. Meanwhile the number of surveyors reporting house price falls has climbed to levels last seen in the house price crash of the last early 1990s. The latest RICS house price report says that 41 per cent more surveyors are reporting house prices falls than increases. This figure is the highest recorded since December 1992, according to the RICS. However the price of new UK construction work rose sharply in the second quarter of 2004, according to the latest tender price index compiled by the BCIS. Tender prices jumped by 7.0 per cent in the second quarter of 2004 compared with the previous quarter.