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Housing sales up 36 pc in Jul-Sep in top 7 cities to record 1,20,280 units: Anarock

by economictimes.indiatimes.com Leave a Comment

Synopsis

Housing sales in seven major cities in India increased by 36% year-on-year to a record 120,280 units in the July-September period, according to real estate consultant Anarock. Average housing prices in these cities grew by 11% annually, with Hyderabad experiencing the highest rise of 18%. Mumbai and Pune accounted for 51% of total sales, and Anarock attributed the strong sales momentum to stable mortgage rates resulting from the Reserve Bank of India’s decision to maintain the repo rate.

New Delhi: Housing sales rose 36 per cent year-on-year to a record 1,20,280 units across seven major cities during the July-September period on robust demand amid stable mortgage rate , according to Anarock . Housing sales stood at 88,230 units in the year-ago period across the seven major cities.

Releasing the data, real estate consultant Anarock said average housing prices across the seven cities grew 11 per cent annually in the July-September period this year. Hyderabad saw the highest rise of 18 per cent.

Anarock highlighted that quarterly sales in July-September touched an all-time high.

In housing data, sales of apartments, villas and independent floors are included while plots are excluded.

Anarock Chairman Anuj Puri highlighted that Mumbai Metropolitan Region (MMR) and Pune contributed 51 per cent of the total sales.

Puri noted that the continued healthy sales momentum is at least partially attributable to the repo rate pause maintained by the Reserve Bank of India in the two recent monetary policies.

“This has kept home loan interest rates stable, keeping housing purchase sentiment high,” he added.

According to the data, housing sales in Delhi-NCR rose 6 per cent to 15,865 units during July-September 2023 from 14,970 units in the year-ago period.

In MMR, housing sales increased 46 per cent to 38,500 units from 26,400 units during the period under review.

Housing sales in Bengaluru went up 29 per cent to 16,395 units during July-September this year from 12,690 units in the corresponding period of last year.

In Pune, sales grew maximum by 63 per cent to 22,885 units from 14,080 units.

Sales of residential properties in Hyderabad increased 41 per cent to 16,375 units from 11,650 units.

In Chennai, housing sales rose 42 per cent to 4,940 units from 3,490 units.

Housing sales in Kolkata went up 7 per cent to 5,320 units during July-September from 4,950 units in the year-ago period.

“The ever-rising aspiration of owning a home mainly driven by rising income levels has meant a strong demand for housing over the last couple of years. The trend is expected to continue in the foreseeable future,” Gurugram-based realty firm Krisumi Corporation Managing Director Mohit Jain said.

The demand for luxury housing too is likely to remain strong amid the desire for upscale living experiences, he said.

“Keeping pace with the demand for luxury homes, the supply is also expected to remain strong,” Jain said.

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World Heart Day 2023: Do You Check Your Heart Rates? What Is A Normal Heart Rate?

by www.boldsky.com Leave a Comment

Health

World Heart Day is observed every year on the 29th of September by the World Heart Federation to raise awareness about cardiovascular disease (CVD). Through this global campaign, the federation unites people in the fight against CVD burdens and inspires and drives international action to promote heart-healthy lifestyles.

Your heart is your body’s engine, and keeping it in the best shape is very very important – if you want to live a long and fulfilling life .

According to recent data, the average resting heart rate in India falls within the global range of 60-100 BPM. However, lifestyle factors, including diet and physical activity, can influence these numbers [1] .

What Is A Normal Heart Rate?

A normal heart rate, also known as the pulse rate, is the number of times your heart beats per minute (BPM).

For adults , the average resting heart rate is between 60 and 100 BPM. However, studies suggest that an optimal resting heart rate for adults is around 70-75 BPM for maintaining good cardiovascular health.

Why Is Knowing Your Heart Rate Important?

Monitoring your heart rate can provide insights into your overall health. A consistently high or low heart rate may indicate underlying health issues. American Heart Association indicates that maintaining a normal heart rate can reduce the risk of heart disease and improve longevity.

How To Check Your Heart Rate?

  • You can easily check your heart rate by placing two fingers (index and middle) on your wrist or neck. Count the beats for 15 seconds and multiply by four to get your bpm.
  • Alternatively, fitness trackers and smartwatches come equipped with heart rate monitors for convenient tracking.

What Are Some Guidelines For Maintaining A Healthy Heart Rate?

To promote heart health, aim for regular aerobic exercise, maintain a balanced diet, manage stress, and get sufficient sleep. Harvard Health reveals that individuals who follow these guidelines tend to have lower resting heart rates and reduced cardiovascular risk.

How Accurate Are Heart Rate Monitors?

Heart rate monitors in fitness trackers and smartwatches are generally reliable for tracking trends and providing estimates.

However, for medical accuracy, consult a doctor or use a dedicated medical-grade heart rate monitor.

Have you checked your heart rate recently?

On this World Heart Day 2023, take a moment to check your heart rate. Ensure it falls within the 60-100 BPM range. If you notice any consistent irregularities, do not hesitate to consult a healthcare provider for a thorough evaluation.

On A Final Note…

On World Heart Day 2023, let’s all make it a point to prioritise our heart health. Understanding what constitutes a normal heart rate and monitoring it regularly can be a simple yet effective step toward a healthier life.

Remember, your heart is your greatest ally, so treat it with the love and care it deserves.

Disclaime r: This article is for informational purposes only and should not be considered medical advice. Consult a healthcare professional for expert guidance on your heart health.

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Story first published: Thursday, September 28, 2023, 20:00 [IST]
Other articles published on Sep 28, 2023

Average mortgage rates fall below 6% for first time since July – full list of best deals

by www.express.co.uk Leave a Comment

This article contains affiliate links, we will receive a commission on any sales we generate from it. Learn more

Estate agent window

Average mortgage rates fall below 6% for the first time since July (Image: Getty)

The average five-year fixed rate offered by lenders has dropped below six percent for the first time since early July.

Rates fell from 6.03 percent on Wednesday down to 5.99 percent across all deposit sizes, moneyfactcompare.co.uk research shows.

The last time that the average five-year fixed deal was below six percent was on July 3, when it stood at 5.97 percent.

Matt Smith, a mortgage expert at property website Rightmove, said: “Following the positive news on inflation and the Bank’s decision to hold the Base Rate, we have seen swap rates, the underlying costs of fixed-rate mortgages, stabilise.

“The important takeaway from last week for those looking to take out a mortgage soon is that the expectation that the Base Rate has now peaked is now the predominant view of the market, although there is still a sizeable but decreasing risk that we may see one more increase this winter.”

Bank of England Base Rate

The Bank of England left the Base Rate unchanged at 5.25 percent in September 2023 (Image: EXPRESS)

Mr Smith added: “As we approach the final quarter of this year, we are likely to see continued stability in the mortgage market persist with rates continuing to gradually drop and more lenders likely to offer sub-five percent deals.”

Major mortgage lenders have been reducing rates this week following the decision to leave the Base Rate unchanged at 5.25 percent last Thursday. Borrowers with larger deposits now have access to five-year fixed-rate mortgages below five percent.

For shorter mortgage terms, the average two-year fixed residential mortgage rate dropped to 6.5 percent on Wednesday, down from 6.53 percent.

has lowered several mortgage rates by up to 0.16 percentage points. Among the deals is a five-year fixed-rate mortgage at 4.93 percent with a £999 fee for borrowers with a 40 percent deposit, marking a 0.96 percentage point reduction since July.

On Tuesday, also cut selected mortgage rates by up to 0.5 percent, offering a five-year fixed rate at 4.95 percent with a £999 product fee for those with a 40 percent deposit, down from the previous 5.1 percent.

Commenting, Myron Jobson, senior personal finance analyst at interactive investor, said: “Average mortgage rates continue to pare back from lofty heights seen in July following sizeable falls in inflation, which could mean that interest rates might not peak as high as feared. This is a confidence booster for those looking to take out a mortgage soon.”

Mr Jobson said the latest fall in rates is “another sign” that the mortgage crisis which stopped many from participating in the property market this year could be “turning a corner”.

He said: “The metrics used to price fixed-rate deals give lenders the green light to lower the cost of fixed-rate mortgages in anticipation of a future where borrowing costs will be reduced. The burning question is, how low will mortgage rates go and how fast will they fall?

“While the positive news on the mortgage front is welcome, the property market remains in a state of flux. Would-be buyers and homeowners alike still face much higher monthly repayments than previous years – and a return of ultra-low mortgage rates isn’t forthcoming. Falls in mortgage cost could also keep house prices elevated.”

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Best mortgage deals today

Uswitch updates a table of leading mortgage deals every 12 hours. At the time of writing, the top two-year fixes include:

  • Skipton Building Society – 5.7 percent – 90 percent Loan to Value (LTV)
  • NatWest – 5.62 percent – 80 percent LTV
  • Bank of Ireland – 5.39 percent – 70 percent LTV
  • NatWest – 5.34 percent – 60 percent LTV

For five-year fixes:

  • Skipton Building Society – 5.28 percent – 90 percent LTV
  • NatWest – 5.02 percent – 80 percent LTV
  • Virgin Money – 4.82 percent – 70 percent LTV
  • Virgin Money – 4.82 percent – 60 percent LTV.

Sainsbury’s increases interest on fixed ISA to 5.7% and earns ‘excellent’ rating

by www.express.co.uk Leave a Comment

Woman smiling while online banking

Sainsbury’s increases interest on fixed ISA to 5.7% and earns ‘excellent’ rating (Image: Getty)

Sainsbury’s has increased the on its one-year fixed to 5.7 percent, earning an “excellent” Moneyfacts rating.

While personal savings allowances remain frozen and interest rates increase, ISAs are becoming increasingly popular amongst Britons as an effective tax wrapper.

Commenting on the deal, Caitlyn Eastell, a spokesperson at Moneyfactscompare.co.uk , said: “Sainsbury’s Bank has increased the rates on its Fixed Rate Cash ISAs this week, including its one-year deal which takes a prominent position in the market.

“The deal now pays a rate of 5.7 percent on anniversary and may appeal to savers who want to invest over the next year and use their ISA allowance.”

Ms Eastell added: “This deal pays an attractive rate when compared to similar products. Overall, this deal earns an Excellent Moneyfacts product rating.”

Cash ISA explainer

The ISA allowance for the 2023/24 tax year is £20,000 (Image: EXPRESS)

Savers can open the one-year bond online with a minimum deposit of £5,000. Interest is calculated daily and paid on the anniversary of account opening.

UK residents aged 18 or over can apply and the opening deposit must be invested within 30 days. However, the product is designed to hold people’s money for the full term and only release the funds on the maturity date.

Those who need access before maturity will need to withdraw the whole balance and close the account. A charge equivalent to 270 days’ interest will then be applied.

But while Sainsbury’s may be offering a much more attractive deal, it isn’t quite taking the top spot yet. The highest rate available at present is 5.85 percent and that’s offered by Virgin Money.

Savers can open Virgin Money’s One Year Fixed Rate Cash ISA Exclusive (Issue 6) online or in-store, and they must be UK residents aged 16 or over.

People must also have a current account with Virgin Money, which was opened on or after December 4, 2019. Savers also qualify if they originally opened their current account with Clydesdale Bank, Yorkshire Bank, or B such as a Signature Current Account.

There is no minimum deposit required and interest is calculated daily and applied at maturity, which falls on September 30, 2024. Withdrawals are permitted but money cannot be put back in. However, any withdrawals made within the fixed rate period are subject to a charge equivalent to 60 days’ loss of interest on the amount withdrawn.

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Shawbrook Bank’s One Year Fixed Rate Cash ISA Bond (Issue 81) places just behind with an AER of 5.83 percent.

The account can be opened with a minimum deposit of £1,000 and interest is paid on the anniversary. Savers must be aged 18 and over and earlier access will be subject to a 90-day loss of interest.

Fixed-rate ISA balances rose from £76.5billion to £138.8billion over the 12 months, an 81.5 percent increase, research from Paragon shows.

Derek Sprawling, director of savings at Paragon Bank, said: “The shift in the savings market over the past 12 months has been unprecedented, we have never experienced the amount of switching to fixed-rate variants and new account openings before, particularly in the ISA segment of the market.

“To record a 98 percent increase in fixed-rate balances overall, and a more than doubling of the amount held in non-ISA fixed-rate variants will have changed savings habits for years to come.”

Fed Officials Contemplate One More 2023 Rate Increase

by www.forbes.com Leave a Comment

Many Federal Reserve policy makers believe another 2023 interest rate hike may be warranted. This information came in September’s Summary of Economic Projections where twelve policy makers forecast that rates would be at 5.5% to 5.75% by the end of 2023. This represents one more interest rate hike from current levels.

That said, it’s not a foregone conclusion, seven policy makers see rates remaining at their current level for the remainder of 2023 . As it stands, there is majority support for another rate hike in 2023, either on November 1 or December 13. Still, it does not look like it will be a consensus decision.

Incoming Data

Of course, incoming data will matter. Fed Chair Powell emphasized at his September 20 press conference that the Fed will “proceed carefully” while looking at “the totality of all the data” as the “risks become more two-sided”.

A further 2023 rate increase hangs in the balance. Cooling inflation and a softer jobs market will make another 2023 rate increase less likely. Powell noted that the past three months of inflation data had been encouraging. In contrast, if inflation rebounds and the job market remains strong, then another interest rate hike becomes more likely. Other data from home prices to economic growth will matter too, but inflation and jobs data are likely to be decisive.

Top of the Cycle

Still, regardless of whether another interest rate increase does occur. It seems that we are close to the top of this interest rate cycle. Almost all policy makers see lower rates in 2024. The implicit forecast of the fixed income market sees lower rates too, albeit with rates remaining relatively high next year.

Further Risks

There are other risks to the economy. There’s a chance of a government shutdown in 2023, which in addition to its economic impact could cause disruption to some of the economic data that the Fed relies on. The ongoing automotive strike could weigh on the economy and energy prices are currently picking up again. These issues, and many others, could alter the economic picture and hence the Fed’s position on rates.

Overall, the Fed believes we are close to the top of this interest rate cycle. But, there’s currently a good chance that interest rates move another notch higher in 2023.