Mixed signals in the UK property market
Only a few days ago it appeared that buyers in the UK were more than happy to acquire property prior to the election but now it seems that some buyers have decided against stepping into the unknown. Whether it is the potential for a hung parliament or just the general uncertainty regarding the outcome for next election is debatable but signals from the property market are mixed to say the least.
It is proving more and more difficult to forecast the short-term direction of the UK property market and indeed the UK banking industry has yet to provide much-needed additional liquidity which will assist first-time buyers in joining the property market in the future. Again, we could be seeing UK banks holding back on increasing liquidity in the short term until confirmation of the next government, with the prospect of a hung parliament starting to concern more and more economists in the UK.
It is unclear how a potential Liberal Democrat/Labour Party coalition or a Liberal Democrat/Conservative party coalition would operate and indeed what policies would be taken from each party. However, there is no doubt that Gordon Brown is making a major play for a partnership with the Liberal Democrats in the knowledge that he is unlikely, at least at the moment, to secure a full majority in the Houses of Parliament.
Share this..
Related stories
Another House Price rise takes London average past £500k
According to property website Rightmove, average house prices across the UK have risen for the fifth consecutive month, while average prices in the capital have surpassed half a million pounds. This year the property market has had its strongest start since 2004, and prices are now an average of 9.1pc higher than at the end of 2012. All regions across the UK also posted positive results, highli...
Read MoreHouse prices rise again in October
A survey by Hometrack has confirmed that house prices in England and Wales rose by 0.2% in October to an average of £156,400. This is the third such rise in a row and while many people are now starting to call the bottom of the property market it is worth noting that the number of people signing up with estate agents has begun to slow. While this may just be a reflection of the time of the year,...
Read MoreNumber of homes for sale falls
04/06/2015 The number of houses for sale in the UK has fallen to its lowest level in many years, fuelling the UKs current housing crisis. High street bank Halifax has released figures that shows the reduction of properties on the market, coupled with higher demand from buyers, has pushed up housing prices at a faster pace than wages are rising. Property prices have risen by 8.6% over the la...
Read MoreThe hidden heartache of repossession
Despite the fact that the Council of Mortgage Lenders last week reduced its forecast of the number of homes to be repossessed in the UK, we may well be missing the point. It was revealed that 9800 homes were repossessed in the first quarter of 2010 and this figure fell to 9400 in the second quarter with an estimate that "just" 39,000 homes would be repossessed this year as opposed to initial forec...
Read MoreAre the days of private landlords numbered?
The ongoing demise in the UK buy to let property market has hit many private individuals very hard after a relatively lucrative last decade. While it's true that many individuals have made significant returns over the last 10 years there is a growing feeling that large corporations and large investors will swamp the sector in the short, medium and longer term. There are concerns that the so-called...
Read More