RLA : RPI : 'Death trap' landlord 'must be punished'

News from the Residential Property Investor, the bi-monthly magazine for RLA members

other artilces from the February / March 2001 issue

Strong market is predicted - February / March 2001

'Most forecasts show the UK housing market entering a period of stability', according to the Council of Mortgage Lenders.

In fact its January figures show that gross mortgage lending was lower in December than the previous month £10bn against £10.9bn in November.

The number of loans was also lower (87,000 against 97,000 in November and 107,000 in December 1999). But overall last year saw a record £119.3bn in gross advances.

The average amount borrowed rose by nearly 10 per cent over 2000 reflecting the Nationwide's estimate that house prices rose by an average of 11.2 per cent last year.

CML's forecast of a steady market has contrasted with some others.

Halifax figures showing a static housing market last year were dismissed by the Nationwide, whose Tom Harvey predicted a 'strong' market during 2001 with house prices rising 'by about 6 per cent'. The Nationwide's first survey of the year suggests increases in house prices have already reached 2.5 per cent.

Whether property is to be found in a 'road', 'lane', or 'close' will have significant implications for its value, according to the Woolwich. Houses in 'lanes' cost the most - an average £123,000 those in 'drives' the least - an average of £86,000. In between come 'ways' (£113,000), 'roads' £110,000), 'avenues' (£102,000), 'closes' (£97,000), and 'streets' (£92,000).

other artilces from the February / March 2001 issue