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.
Planning permission to build new homes at six year high
12/09/2014 The number of new homes being built could be set to grow even further, as it was revealed that planning permission to build new homes hit a six year high in the second quarter of 2014. The figures, which were published in the Home Builders Federation (HBF) Housing Pipeline report showed that planning permission for 56,647 homes was granted in England during this time period. T...Read More
Government Fights Back In Housing War Of Words
As the housing market continues to crumble the government has become embroiled in a war of words with those operating in the property sector. Fighting claims that the decision to announce a possible suspension of stamp duty and then pull away for following through with the move until the autumn has frozen the market, the authorities claim the market has been in free fall for some time.
Land Registry figures show house prices continue to rise
House prices in England and Wales have risen for the fifth month in a row according to data released by the Land Registry. It would appear that the average property in the UK increased in value by 0.6% during October with the average UK property now back to levels seen last November. If we look back, October and November were the most difficult months for the UK financial system, UK property marke...Read More
US existing home sales fall to 15 year low
In a further reflection of difficulties currently being experienced by the US economy, it was revealed today that sales of existing properties fell to a 15 year low in the US. There was an unprecedented fall in the annual rate of existing property sales from June 2009 to June 2010 which equates to 27.2%! This is a dramatic fall by any standards and concerns regarding the shape of the US economy...Read More
Land Securities signals upturn in UK commercial property market
Land Securities, one of the UK's leading commercial property companies, has today issued a very interesting and positive note on the state of the UK commercial property market. The company has bounced back from last year's troubles and significant property write-offs and today confirmed profits came in at just over £1 billion against a loss of £4.77 billion last year. The company has cited a...Read More