UK House Prices Dip 2.4% In November - Rightmove
The average asking price for a house in the United Kingdom was down 2.4 percent in November, property tracking website Rightmove said on Monday - standing at 246,237 pounds.
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UK House Prices Fall In November
Average asking prices of a property in the U.K. declined in November in line with the usual pre-Christmas trend, a monthly survey by Rightmove revealed Monday. Prices fell 2.4 percent on a month-on-month basis, following a 2.8 percent surge in October. However, compared with an average November fall over the last three years, this year's drop was slightly more muted.
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Bank Of England To Curb FLS Support For Households
The Bank of England will scale back incentives that it provides to banks for lending to households, in a bid to curb mortgage lending and divert credit to businesses. The Funding for Lending Scheme will continue to provide support for lending to businesses in 2014, with incentives in the scheme skewed heavily towards lending to small and medium-sized enterprises.
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U.K. Mortgage Approvals Near 6-Year High; House Price Growth Accelerates
U.K. mortgage approvals increased to the highest level since February 2008 as banks lend more to housing, siphoning away funds from lending to businesses, given the strong confidence in the property market on the back of government scheme. Moreover, house prices registered the strongest growth since July 2010, flagging fears of housing bubble.
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BoE Likely To Keep Rates On Hold Amid Chancellor's Mini-Budget Announcement
The policymakers of Bank of England is all set to hold the interest rates unchanged, as economic indicators underline better prospects for growth and employment. The outcome of the 2-day meeting, which ends on Thursday, is unlikely to gain significant attention as the markets shift their focus to the Chancellor's 2013 Autumn Statement, also due on Thursday.
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U.K. Industrial Output Expands For Second Month; Visible Trade Gap Narrows
British industrial production increased for the second straight month in October, boosting hopes of a strong recovery in the fourth quarter, the Office for National Statistics said Tuesday. Further, the trade data today showed that the visible trade gap narrowed as imports declined more than shipments in October.
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Rightmove Forecasts 8% Increase In UK House Prices Next Year
Asking prices for a property in the U.K. could rise by up to 8 percent next year unless the growing demand is countered by sufficient supply, online real estate portal Rightmove said Monday. The market needs to redress 2013's imbalance of 2 percent rise in new listings versus 13 percent jump in transactions, the firm said in a monthly report.
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UK Consumer Confidence Index Dips In December - GfK
An index measuring consumer sentiment in the United Kingdom was down for the third consecutive month, the latest survey from GfK revealed on Friday - showing a score of -13.
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