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.
Is renting a viable alternative to a house purchase?
As the UK property market continues to spiral downwards, despite the attentions of the UK government, many people are now looking towards the rental market which has also had its fair share of troubles in recent times. Rental values have fallen in line with house prices and there are now some very attractive lease and rental options open to many areas of the UK. So is renting a viable option in th...Read More
Housing market dying down
13/03/2014 The rapid growth in demand within the housing market is dying down according to the Royal Institution of Chartered Surveyors (RICS). Although better mortgage deals have helped to satisfy some “pent-up demand” in recent months, leading to an increase in the number of house sales being completed, this surge in demand is “gradually exhausting itself.” Simon Rubinsohn, Chie...Read More
UK property 'cooling in May'
Britain's housing market began to show signs of slowing down in May, the latest Nationwide house price index shows.Monthly growth totalled 0.5 per cent in May, falling from the 0.9 per cent seen in April, the building society said. Annual growth fell from 10.3 per cent to 10.2 per cent thanks to strong activity 12 months ago.The May fall has been partly caused by recent interest rate hikes by the...Read More
Manchester Property Market Set For A Boost
While it may be doom and gloom in many regional property markets around the UK, the signs for various regions on the outskirts of Manchester are looking a little rosier today. The government has announced plans to increase the scope of the CityÃ¢â‚¬â„¢s tram system and extend the service to Chorlton, Rochdale and Oldham. This is on top of the Droylsden extension which has already been...Read More
Is the long-term growth trend in UK property still in place?
Despite the fact that UK property market has been a volatile over the last three years, and indeed according to many is on the verge of a further downward spiral, the truth is that in the longer term the UK property market is likely to remain buoyant and in demand. When you take into account the ever-growing population of the UK and the reluctance of many local authorities to build further council...Read More