Property Rescue Blog

The first month on month rise in home prices occurred this past June, according to the Land Registry, the first time this happened since January 2008. This is promising news for many, but for many others sell and rent back continues to be the best available option. Despite the upbeat news, there is still a "flattening" going on with home prices.

The highest number of mortgage approvals in the UK in fifteen months happened this past June; 35,235 mortgages were approved for purchasing new homes. This would seem to signal that there is hope for people who want to sell home fast.

News from OFWAT that water bills in England and Wales will increase about 4.1% in the year from April highlights the rise of many bills in general lately. Car insurance premiums have sharply risen, and the new water bill rates will cost the average UK customer an extra £13 per year.

News that the National Housing Federation has recently predicted that house prices in England will continue falling this year and the following one are being greeted with concern by those looking to sell house fast.

Since so many places have been shutting down during this economic crisis, there are more shops available to rent in England and Wales than there have been in years. The number of available shops increased from 4% to 12%, and 12,000 independent shops and 4,000 branches of major retailers closed already this year.

According to the Office for National Statistics, unemployment rose by a record 281,000 and now stands at 2.38 million. The jobless rate went up to 7.6%, the highest it has been in ten years. Those collecting unemployment benefits rose by 23,800 during June but were actually less than expected.

According to the Office for National Statistics, 927,000 people took part time jobs because they couldn't find full time employment in the three months to May. This is third more than the same period last year, and the highest figure on record.

Despite hopes that the economy may rebound relatively soon, it is being reported that the UK economy contracted by 0.8% between April and June of this year. Although it was much better than the previous figure, it is still more than expected.

Hundreds of housing projects in England that stalled out during the recession may receive aid from the government in the hopes of giving a boost to the overall economy. As things worsened during the economic crisis, many housing developments were postponed or abandoned.

With recent news that the UK government's debt has reached £799bn - or approximately 56.6% of UK GDP. Additionally, new borrowing was £13bn in June - double what it was a year ago.