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.
Landmark ruling in sale and rent back sector
A judge has today issued a landmark ruling in the sale and rent back sector which could have a major impact in the longer term. The sale and rent back market has become more and more popular as the economy continues to struggle with many homeowners, often in arrears with their mortgages, agree to sell their homes at a discount with the opportunity to rent the property for a predetermined period.
British Land looking to expand in the future
UK property giant British Land appears set to hit the investment trail with an admission that the company is looking to invest upwards of £2.5 billion into the UK property market. This comes at a time when the company announced its first quarterly increase in assets for some time and a more upbeat statement for the immediate future. However, investment into the UK property sector will not be spre...Read More
Housing market problems sees 32,000 estate agents lose their jobs
While they may be the bane of many people's lives when looking to sell or purchase a house, the estate agency industry will end 2008 on a record low with 32,000 jobs lost over the last few months. The crash in the UK housing market has not only had repercussions for home owners throughout the UK but estate agents as well. There is also concern that the problems in the sector will continue well int...Read More
Buy-to-let market continues to boom
The buy-to-let property market is continuing to boom, despite higher interest rates, according to the Royal Institution of Chartered Surveyors (Rics). High property prices, which are forcing potential buyers to rent for longer, as well as a high level of immigration and a short-fall in new housing are all leading to an increased need for rented property, and as result, rents are rising at their f...Read More
House prices for first time buyers ‘up 5pc’
The price of a house for a first time buyer has risen 5pc since the summer, according to a report representing data collected by Halifax. This includes a rise of 2pc last month alone, with average prices rising to £125,799. This highlights the increasing struggle that first time buyers face to get on the property ladder, but at the same time the fact that the housing market is gaining in st...Read More