CEBR predicts UK property prices will rise by 4% this year
The Centre for Economics and Business Research (CEBR) recently released its view on the UK property market which would appear to be in direct conflict with a number of downbeat statements issued by other economic bodies last week. The CEBR believes that UK property prices will rise by around 4% this year and continue to increase until the end of 2014 due in essence to the short supply of properties on the market.
This is the first time we have heard any upbeat news with regards to the UK property market for some time and indeed would seem to conflict with the general opinion that the UK property sector is headed for a double dip recession. Whether or not this upbeat forecast will materialise in the short to medium term remains to be seen but thankfully there would appear to be at least a little hope on the horizon.
As we have mentioned on numerous occasions, the UK property sector is central to the UK economy due to the fact that many individuals have the bulk of their finances tied up in the sector. Any downturn in the UK property sector would obviously have a detrimental impact on the economy but on the flipside of the coin, any improvement in sentiment regarding the UK property sector could well lead to more optimism about the UK economy in the short to medium term.
Why is the UK obsessed with property?
The Liberal Democrats have made a number of observations about the UK economy which have struck a cord with many observers. They are the first party to question the UK's obsession with property which literally rules the UK economy. Unlike many countries around the world, the vast majority of UK citizens own their homes when many countries have a culture of renting. This obsession with owning pr...Read More
Property companies looking to invest for the next upturn
It seems as though property companies in the UK such as Land Securities are now readying themselves for an increase in demand for property in the medium term and looking to invest into new projects in the short term. Indeed yesterday we saw Land Securities announce a £655 million investment in the West End of London as the company continues to see signs of growth in the UK property sector. It...Read More
House prices fell in February
House prices across the UK fell by 0.1 per cent in February, according to government figures.Statistics from the Department for Communities and Local Government (DCLG) show that the average UK house price fell from £205,399 in January to £205,102 a month later.Despite the slip the year-on-year rate of property value growth accelerated to 12.1 per cent, up from 10.9 per cent in January, however.T...Read More
When Government Headlines Don't Match The Small Print
News that Carlisle City Council are in line for a £100 million government handout for new housing builds has been well received in the city after the recent flood left many areas of the city in ruins. However, the announcement by Housing Minister Caroline Flint is maybe not as generous as it sounds if you check the small print.
True, there is £100 million for the council to use...
First time buyers compromise to climb the ladder
First time buyers are making compromises in their lifestyle to get onto the property ladder, according to research by Alliance & Leicester Mortgages.Over half (51 per cent) of first time buyers are prepared to sacrifice their social lives to buy a house, citing living close to work as the most important factor when deciding where to buy.Another third (34 per cent) said good transport links would a...Read More