Is the UK turning into a rental economy?
Despite the fact that the first choice for many in the UK property market is to buy a property for the future, there are now signs that more and more people are looking to rent in the short to medium term. The Chartered Institute of Housing has today issued a report suggesting that those on incomes between £12,000 and £25,000 are stuck in between being eligible for social housing and been able to afford their own property.
In what has the potential to become a self-fulfilling prophecy, the fewer people who can afford to acquire their own property the more pressure this will place on the rental market and the more properties will come under the "buy to let" banner. This is despite the fact that many buy-to-let participants have fallen by the wayside after the credit crunch and the worldwide recession. However, there is also the UK phenomenon of a housing shortage which has been ongoing for decades and many people believe is one of the reasons why UK property is so expensive.
Despite the fact that the UK government recently announced a number of incentives for local authorities to build affordable housing this will take some time to kick in and more and more people will be forced to look at renting property before acquiring their own property in years to come.
When is the best time to sell your property?
After the recent increase in the average property price in the UK a number of potential sellers will now be looking towards possibly putting their property on the market. But when is the best time to sell your property in the UK? The truth is that without the help of a crystal ball it is impossible to pinpoint the best time to sell your property. While many analysts are moving towards a bullish...Read More
Glasgow shopping centre in distressed property sale
The Silverburn shopping Centre in Glasgow is up for sale in one of the most startling distressed property sales in the UK today. While we await official confirmation of the sale price and those interested in the property there are rumours that Bank of Scotland has effectively pulled the plug on the operation and decided to cut its losses. Bank of Scotland, part of the HBOS group, supplied the debt...Read More
UK housing market decline 'worst since 1992'
The rate of decline in house prices across Britain is at its most severe since the property slump of the early Nineties, according to a gloomy report from the Royal Institution of Chartered Surveyors (Rics).Surveying its member surveyors, Rics found that 49.1 per cent more reported house price declines than rises in December 2007, the most negative the price balance percentage has been since Novem...Read More
How low can the UK property market go?
The UK property market has been under pressure for some time and opinions amongst experts are very mixed with regards to the direction in 2009. While many are hopeful of a stabilisation in the market there are others suggesting that 2009 could actually be worse than 2008. However, the majority of parties with an interest in the property market are of the opinion that until bank lending is resurrec...Read More
Wales is hot property for investors
Buy-to-let landlords who have invested in Wales will have been pleased to see massive returns on their property, as rents have increased by a massive 33 per cent over the past quarter, according to Paragon Mortgages' latest buy to let index.The average annual rent that a landlord asked for in Wales has increased by 32.7 per cent between December and March, pushing it to £11,251 on an average prop...Read More