UK lenders and Flats

I found the following news interesting esp for firt time buyers.

Mortgage lenders have further tightened their criteria for loans on all new-build flats in the latest sign of growing nervousness about the housing market as new figures showed a “stunning” slump in mortgage lending in the autumn.

http://www.ft.com/cms/s/0/f2628938-9a11-11dc-ad70-0000779fd2ac.html

US housing bubble update

Fault-lines are appearing throughout the US housing market. Here is a quick anecdotal update of how the US housing bubble is unfolding. It gives some indication to British readers of what we may be about to experience in the UK.

First off we turn tothe East Coast and Massachussets. The housing market here has weakened by around 5% in the past month. Local economics professor Karl Case said the most recent annual survey he and a colleague conducted among home buyers revealed growing pessimism about buying in a down market. "They’re scared they’re going to buy something very expensive that’s going to fall in value," he said. Sellers, meanwhile, he said, are being "stubborn. They seem to be holding out so far." The result: "People are staring each other down.”

To read more, visit following site...

http://www.in2perspective.com/nr/2006/11/us-housing-bubble-update.jsp

House prices rise at fastest since 2004

LONDON (Reuters) - House prices rose in November at their fastest annual pace since August 2004, a survey shows, in a further sign rising interest rates have not yet dented demand.
Property consultant Hometrack said prices rose 5.3 percent in November compared with a year ago, up from 4.9 percent in October. On the month, prices were 0.6 percent higher, although the monthly figures are not seasonally adjusted.
"Buyers may have shrugged off the August interest rate rise, but the prospect of a further increase in November seems to have forced those who were thinking of moving to actually do so," said Richard Donnell, Hometrack director of research......

To read more, visit following site.

http://investing.reuters.co.uk/news/articleinvesting.aspx?type=personalFinanceNews&storyID=2006-11-27T073416Z_01_NOA727179_RTRUKOC_0_HOUSE-PRICES-HOMETRACK.xml&WTmodLoc=HP-C9-PF-3