House price inflation accelerated to 11.3% in April, according to the DCLG index this morning.
But housing markets are vulnerable to a collapse on a ‘global scale’, according to research by ABN Amro reported in the Daily Mail. Claims that a continuing property shortage in the UK will lead to ever-rising prices ‘have as much credibility as Britney Spears’ latest comeback’.
Credit rating agency Standard & Poor’s has issued a warning about risky mortgage lending in the buy to let and sub-prime sectors, reports today’s Financial Times.
The Guardian reports research from Hometrack about the missing first rung of the housing market that was first highlighted in the last issue of LPW.
Homeless acceptances in the first quarter of 2014 were 17% down on a year ago, according to DCLG homlessness statistics published this morning.
The Herald covers the £200,000 job that nobody seems to want despite a global search – succeeding Michael Lennon as chief executive of Glasgow Housing Association.
Meanwhile, the housing crisis got extensive coverage in the weekend press:
The Guardian continued its coverage of ‘locust’ buy to let investors with a feature on how they have laid communities to waste in a ‘feeding frenzy’.
In the Sunday Times, Minette Martin called for a building boom – including the green belt if necessary.
A leader in the Sunday Telegraph says the crisis is about to hit home, with political consequences for the government. And a business news story predicts that ‘housing, housing, housing’ will define the Brown government as much as ‘education, education, education’ did Blair.
The Observer cites figures from the Nationwide showing that mortgages now account for half the income of first-time buyers, up from a third only three years ago.