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.
Housing market gloom deepened in February
The gloom in the housing market continued to worsen last month with price drops approaching those of the slump of the 1990s, according to data from the Royal Institution of Chartered Surveyors (Rics). Figures from Rics monthly market survey show that 64.1 per per cent more surveyors reported a fall in house prices rather than a rise during February. This is up from the figure of 54.7 per cent in J...Read More
House building boosts UK construction industry
03/07/2014 The UK construction industry grew at its fastest pace in four months this June as a result of an increase in house building, according to the Markit/CIPS Purchasing Managers Index (PMI). The PMI is a measure that determines how quickly the construction industry is growing or shrinking. A measure above 50 indicates growth and vice versa for a measure below 50. Despite prediction...Read More
Is it time to dip your toe in the UK property market?
On the surface, with increased mortgage lending, potential takeover activity in the corporate property sector and some analysts suggesting the worst is over for the housing market, many people are looking again at the UK property market. However, there are also many factors working against a short to medium-term recovery in the UK market such as rising unemployment, Bank of England scepticism rega...Read More
House prices continue to rise
09/07/2014 House prices are continuing to increase throughout the country, according to the UK’s largest mortgage lender, the Halifax. When measured on an annual basis, prices had increased by 8.8% in June, in comparison to 8.7% in May, taking the average house price in the UK to £183,462. Additionally, the Nationwide Building Society recently released similar figures that claimed pric...Read More
London house prices could fall
11/07/2014 House prices in London could be set to fall over the next three months, according to a poll by the Royal Institution of Chartered Surveyors (Rics). The poll found that London surveyors believed house prices were likely to fall in the coming months, with one cause believed to be the recent introduction of tougher mortgage lending rules for borrowers. Rics said that various facto...Read More