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
Foxtons loses case regarding landlord fees
Estate agent Foxtons has lost a case brought by the Office of Fair Trading (OFT) regarding landlord fees and the fact that the company charged landlords commission each time tenant contracts were renewed. As a consequence the company may well be forced to pay back millions of pounds in fees charged over the years although no specific estimate has been issued regarding potential compensation. Th...Read More
House Prices rise for fifth consecutive Month
House prices in the UK rose again in February, for the fifth successive month. Figures from Nationwide building Society show that the average price of a house in the UK now stands at £162,638, a rise of almost £1,500 from February 2012. There has been inconsistency in the housing market over the past twelve months, but there now seems to be a trend forming with rising prices for the last five...Read More
Shopping Centre Landlords Are Struggling
Over the last decade there can be few investments which have given the same returns as shopping centres as well as a level of security which few could ever dream of. However, the economic turmoil in the UK is spreading to the high street, with a slump in June sales, and many shopping centre landlords are beginning to feel the heat.
As more and more retailers struggle, the amount of...
So how much is your home worth?
As again we see mixed signals from the UK property market, with a suggestion that property prices are starting to move ahead, how much is your property actually work?
This is a question which more and more people up and down the UK will be asking themselves as financial concerns continue to mount and many look at ways to reduce their debt in the short term. While a sudden increase i...