UK house prices under pressure
A report by the industry body, the Royal Institute of Chartered Surveyors, has today cast a dark shadow on the UK property market the report showing that more members are seeing lower prices compared to those who are seeing an increase. The net balance on the survey was -8 which equates to a fall in UK property prices in the second half of 2010 in the region of 2 to 3%. This would leave house prices in the UK relatively flat for the year compared to 2009.
There is no doubt that negative press coverage over the last few weeks is beginning to impact upon the UK property market with buyers happy to stay on the sidelines and more sellers coming to the fore. If the situation continues in the short to medium term there is no doubt that prices will come under further pressure and what began as a small snowball could soon begin to grow.
Whether or not it is a case of more realistic pricing in the short to medium term or indeed a switch in the trend for improved demand for UK property remains to be seen. However, the UK economic outlook is not one which would support a recovery in the UK property market.
Hammerson announces blue-chip tenant talks
In a sign that demand for property is beginning to pick up in the city of London, Hammerson, one of the U.K.'s largest corporate property companies, has announced that it is in talks regarding the possible pre-letting of two office developments in London. This is the first major sign of any significant interest in the corporate property market and against a backdrop of difficult trading in the fin...Read More
Property slowdown 'could hit first time buyers'
Contrary to some hopes that a slowdown in the property market could result in more people being able to get onto the bottom rung of the ladder, it has been claimed that the current circumstances could be bad news for first time buyers.Lucian Cook, director of research at Savills, warned that first time buyers are unlikely to benefit immediately from a slowdown in property prices and the global cre...Read More
Scottish government injects £45 million into low-cost homes
The Scottish government has today announced plans to inject £45 million into a program which will construct up to 800 new low-cost homes across Scotland. The money is made up of a £31 million injection from the previous budget and £14 million which has been freed up by the Scottish government from its existing housing program. So will this make a difference? There is a definitive lack of aff...Read More
Can we trust the property price indicators?
There is no doubt that the beginning of 2010 has seen some volatility in the UK property market with prices falling in February only to return to the growth path in March. Such is the volatility of these indicators that many experts are now discounting their strength and their usefulness in the current environment. More and more people believe that a shortage of properties for sale in the UK is...Read More
Is Property Group Mapeley Bucking The Trend?
News that Mapeley Group has managed to buck the trend of the property market has made many investors sit up and take notice but is it really that straight forward?
Firstly it is only right to point out that Mapeley works with government departments and blue chip clients, acquiring their properties and managing assets which have the more dependable tenants on board, an outsourcing gr...