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.
Land Securities reports improvement
Land Securities, the U.K.'s largest real estate investment trust, has today announced figures which would indicate that the UK property sector is starting to recover. Net income during the six months to September 30 reached £11.9 million which compares to a loss of £1.73 billion during the corresponding period last year. This is a major improvement although the net asset value of the company's p...Read More
Barratt Developments Shares Under Pressure
The bloodbath of the housing market continued when Barratt Developments was forced to deny rumours that it was in desperate need of funding to stay afloat. While the denial was well received by the market, after the shares had fallen by over 40%, the company refused to rule out a funding request in the short term. Some analysts believe that the group is suffering from debts which are said to be...Read More
UK house prices fell in April
In a bitter blow for those who expected the UK property sector to take the UK economy out of recession, it was revealed that house prices fell in April negating much of the boost to confidence from the apparent rise in March. It was also revealed that Nationwide, among others in the financial sector, believes that the UK property sector is likely to take some time to recover with no quick fix on t...Read More
Buyers move into pole position in housing market
At the start of 2010 there were high hopes for the UK property market with signs that the market was stabilising and looking to move ahead in the short to medium term. However, problems in the European economy, liquidity issues and concerns about the UK economy, in particular ahead of the budget, have had a massive impact upon sentiment. It now looks as though buyers are in the ascendancy although...Read More
London business property market booming
Shaftesbury Group, the prominent UK property operation, last week revealed business in the West End of London was especially brisk over the Christmas and New Year period. The company has announced a significant increase in new tenant agreements approved at rates at or above recent property values for the company's various assets. So what does this mean for the UK property market in general? As...Read More