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Chelsea Building Society said it is continuing in its aim to offer borrowers the most competitive mortgage deals with the lowest ever five year fixed rate deal.

Borrowers wanting a mortgage of up to 70% LTV (loan to value) can benefit from a rate of 3.19%, or 3.39% for the offset option. Both mortgages have a fee of £1,495.

‘This is the lowest five year fixed rate mortgage ever to come to the market, which is great for customers wanting longer term security in fixing what is likely to be their biggest monthly outgoing,’ said Chelsea Building Society product manager Jemma Smith.

‘We've also reduced rates on some of our shorter term fixed rate mortgage deals ensuring that whatever the LTV or term required, we have a competitive deal to suit cust...

Home prices in China fell for the fifth consecutive month in January as real estate and lending tightening measures continued to take effect.

Prices fell an average of 0.18% from December to RMB8,793 per square meter in the major cities across the country. In September, prices dropped for the first time in a year. From then to the end of 2011, prices fell by between 0.03% and 0.28%.

The data comes after Chinese Premier Wen Jiabao reiterated the government's tough stance on the real estate market. He said that the government must continue with macroeconomic controls, consolidate its property tightening campaign and bring about a reasonable correction in housing prices.

China Real Estate Index System said the survey of property developers and real estate agencies has been wid...

Equity rich home owners in central London who have benefited from strong price growth and low interest rates over the last four years, are moving on up the property ladder without the need to sell their existing home, it is claimed.

This is worsening the already short supply of property in prime central London, according to property consultants Cluttons.

Residents of these areas have seen strong growth in the value of their homes over recent years, with a 7.9% increase in prices recorded in Central London during 2011, the firm points out.

Many of those whose incomes have not been impacted by the economic downturn have taken advantage of low interest rates by overpaying on their mortgages and boosting their equity. Bonus money is being spent more wisely on paying off exist...

Analysts believe that the Australian residential property market is set for a revival in 2012 after house prices increased nationally for the first time since September 2010.

The rise in prices in Melbourne and static prices in Sydney is a tentative sign of a recovery in the housing market that is generally expected to gather momentum in 2012.

The latest figures from Australian Property Monitors show that Melbourne house prices rose by 1.1% over the final quarter of 2011 while prices in Sydney were flat after recording a fall of 1.8% in the previous quarter.

Although prices in other capital cities fell slightly the situation in Melbourne and Sydney were the principal contributors to a small rise in the national median house price during the December quarter.

‘...

Second home owners in Spain are being warned that they must remember to pay their bills and taxes in these financially challenging times or they risk losing their property.

The Perez Legal Group said that some owners don’t realise that they own local rates and can find themselves facing a large bill if they haven’t paid.

They cite a recent example of a couple from England who own an apartment in Marbella and were shocked to discover that they owed the town hall €11,000 in unpaid municipal rates and taxes and were on the brink of having their property embargoed.

They had not made arrangements to receive bills and other post from Spain and were unaware of their mounting debts.

‘It may seem an obvious statement, but it is important to keep your a...

UK housing minister Grant Shapps has today (Thursday 26 January) hailed a new partnership between the government and the National House Building Council (NHBC) to gain a greater insight into how efforts to get Britain building again are making a difference.

He said that in a new deal between the government and NHBC, ministers will have access to a wealth of information on the ins and outs of house building from details of the materials used to build a home, to insights on the journey from the start of the construction process through to the final sale.

NHBC provides warranties for over 80% of the UK's new build homes. Shapps said that by extending the scope of information they provide, the government will be able to drill down into the fine detail of the house building process an...

Macro economic and political landscape uncertainty suggests that a cautious outlook for commercial real estate is likely to persist into 2012, according to a new report from CBRE Global Research.

Its Global ViewPoint for 2012 notes that high quality real estate assets in prime locations should continue to perform well compared to secondary real estate and very competitive with regard to other asset classes.

‘With the level of uncertainty today, it is inevitable that the outlook for real estate will in many ways be equally unclear,’ said Raymond Torto, CBRE’s global chief economist.

‘It is important to note, however, that the perception of the inflation hedging capabilities of core real estate holds considerable appeal to investors and commercial real es...

Despite the current gloomy economic outlook British people are relatively confident about the property market, according to new research published today (Friday 27 January).

Some 3.7 million Brits say they are likely to buy a new home this year and a third of home owners expect house prices to rise, the research from Santander Mortgages found.

It also reveals that raising a deposit is the biggest barrier for those who feel they can’t purchase a property but more than half, 53% of potential buyers feel more positive about their prospects this year.

Younger people are the most likely to buy, with 12% of those aged 18 to 34 saying they are likely to purchase a new home. This is compared to 7% of 35 to 54 year olds and 5% of those aged 55 or over.

Overall 53% of those p...

The cost of moving house in the UK has risen at a faster rate than house prices over the past decade, according to new research by Lloyds TSB.

Since 2001, the average cost associated with moving home for someone who already owns a home has increased by 69%. In 2011 it cost £8,922 compared with £5,290 in 2001. This is greater than the 64% rise in house prices over the same period.

The expense of moving home is now at its highest level since the peak of the housing market in 2007 and is currently equivalent to 27% of average UK gross full time earnings, up from 22% in 2001.

The costs covered in the report include stamp duty, mortgage arrangement fees, estate agency fees, surveyors' fees, conveyancing and removal costs. The costs of decorating and improvement...

Residential property sales have increased over 20% year on year although nationally prices are falling, the latest figures from the Real Estate Institute of New Zealand (REINZ) show.

Sales increased 20.1% in December compared with the same month in 2010, the best December result since 2007. But prices were down 3.4% in December month on month and are just 0.9% compared with December 2010.

Auckland recorded its strongest December sales volumes since 2006, with six regions; Waikato/Bay of Plenty, Manawatu/Wanganui, Taranaki, Nelson/Marlborough, Canterbury/Westland and Otago, recording their strongest December sales since 2007. Only two regions, Hawkes Bay and Wellington, had lower sales volumes than December 2010.

However, all regions, with the exception of Central Otago Lakes, r...

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