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.
House prices "bounce back"
UK house prices "bounced back" in June after climbing by 1.1 per cent, Nationwide revealed today.The latest property price survey by the building society showed the annual rate of house price inflation reached 11.1 per cent this month, its highest level since January 2005.Nationwide said that the annual rate of growth was more than twice as fast as that recorded at the same time last year, with pr...Read More
Is it safe to look at short-term house price performance?
This week's news that UK house prices have risen year-on-year for the first time since March 2008 has injected a dose of enthusiasm back into the UK investment market but is it safe to take one month's figures in isolation and make investment decisions upon these?
While the truth is there have been a number of positive months in the UK property market, there would appear to be a gre...
London office space set for boom year
Property specialists Knight Frank have today issued a report suggesting that the London office market is set for a boom 2010 due in the main to supply difficulties. It is forecast that the value of office space in London could increase by up to 43% with rents set to rise by 19%. These are exceptional figures but then again the London office market is an exceptional market! As you would expect f...Read More
House sales in UK fell by 53% in last 12 months
News that house sales in the UK have fallen by 53% over the last 12 months, from 126,000 last September to just 59,000 last month has seen the market take the figures in its stride. While they may make terrible reading they were not wholly unexpected and may not even mark the end of the fall. However, markets are trying to look ahead to a time when the mortgage market is liquid again and house p...Read More
Was the housing market up or down in March?
Conflicting reports on the UK housing market have led to concerns about the quality of housing surveys across the country. Earlier this week we saw the Nationwide report show a 0.9% increase in house prices in March while Friday's Halifax report showed a 1.9% reduction. There is now severe confusion as to which report is correct and how they could be so very different when looking at the same mark...Read More