Buy to let market running out of steam
The CML has today revealed that the UK buy to let market has rebounded strongly from post-credit crunch levels although it would appear to be running out of steam. The number of buy-to-let mortgages agreed increased by 13% in the second quarter of 2010 with around 25,000 confirmed. While these figures are welcomed by investors in the buy to let market they are just around 25% of the business levels seen prior to the credit crunch and the worldwide economic downturn.
There is no doubt that the buy to let market is "over the worst", at least in the short-term, but with many experts predicting difficult times for the UK economy and a difficult period for the property market it will do well to maintain current growth levels. Indeed even the CML believes that there are signs that the sector is easing back although how far it will fall remains to be seen. It is also worth noting that a large number of buy to let investors of years gone by have now left the market, many having been forced to sell on their properties at knockdown prices. The buy to let sector enjoyed something of an Indian summer for much of the first decade of the 2000s although whether these "good times" will return again remains to be seen.
Negative Equity Is Threatening The UK Property Market
As if there was not enough bad news in the property and financial sectors, it appears that over 30,000 people have taken out 100% mortgages since January 2007. Research shows that a large number of these people will be in, or on the verge of, a negative equity situation, where their homes are worth less than their outstanding mortgages. This growing threat has the potential to lock many people i...Read More
Construction Sector Woes Hit A Wider Market
The fall in activity in the construction sector has been more marked over the last few weeks with more and more firms hitting serious cash flow problems and being pushed into administration and receivership. While you might expect these problems to stay within the construction sector there are signs that they are spreading to other areas of the economy.
The construction - house con...
The attractions of renting
As the UK property market continues to struggle more and more people are looking towards renting properties in the short to medium term until their own financial situations are clearer and the UK property market is more stable. While many people would suggest to you that renting property is "dead money" this is not always the case and there are a number of positive factors to take into account.
Poor summer has Brits looking to sunnier climes
This year's miserable summer has a record number of Brits to looking to buy a property in sunnier climates, according to Yorkshire Bank.According to the bank's research, as many as 43 per cent of us are now considering the idea of buying a place in the sun, while the number of Brits who already own a property abroad has risen by 45 per cent to 800,000 in the last couple of years. The biggest draws...Read More
Average UK house price rises to £168,521
The average house in the UK is now valued at £168,521 after a return to growth in March after the falloff in February. The Halifax report shows that UK prices rose by 1.1% between February and March which was a welcome relief bearing in mind a surprising 1.6% fall in February. House prices have increased by 0.6% in the first quarter of 2010, compared to the final quarter of 2009, and while this i...Read More