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.
Scottish property market in short-term bounce
The Scottish property market produced a very surprising scenario this week with news from the Council of Mortgage Lenders that mortgages agreements for first-time property buyers increased by 18% to 4,700 in the second quarter of 2010. The total of these mortgage arrangements was £419 million which was again a significant increase of 27% against the first quarter of 2010. The situation for tho...Read More
Tenants warned of landlord scams
Tenants up-and-down the UK have this week been warned of potential landlord scams by the housing charity Shelter. It seems that up to a million people in the UK could already have fallen victim to landlord scams which could see deposits retained, excessive fees for work, unlimited guarantees given instead of deposits and one of the most alarming scams which involves crooks break into empty propert...Read More
Hips defy critics
Providers of Home Information Packs (Hips) have defied their critic by supplying them in under 48 hours, according to the Association of Home Information Pack Providers (Ahipp).Many had predicted that the introduction of Hips - which are now essential for anyone selling a house with four or more bedrooms and include a home energy efficiency rating, advice on how to cut carbon emmissions and fuel b...Read More
Agents 'not applying for Hips before selling homes'
Some estate agents are neglecting to apply for Home Information Packs (Hips) until after they begin advertising a property, the BBC reports.According to new research from the Law Society, pressure from sellers who do not wish to pay the £300 required for the packs cause this delay.This apparent consumer antipathy to Hips - which became mandatory for all home sales last year - seems to have been s...Read More
So when will the housing slump end?
It is very much a case of history repeating itself with a number of experts now stepping forward to call the imminent end of the housing slump. But hold on a second, have we not been here before about 6 months ago? Or was it just 3 months ago?
We are seeing more and more experts crawling out of the wood work at an alarming rate to try and grab the headlines by calling the bottom of...