Bovis concerned about UK housing market
Bovis, one of the UK's leading house builders, has today gone public with a number of concerns regarding the short to medium term future of the UK property market. While the company reported a return to profitability, with £3.5 million surplus for the first six months of 2010, and an increase in both house prices and housing sales, there was much mention of the government's spending cuts and tax rises.
The company has seen a 3% increase in the number of sales in the first half of 2010, compared to the same period last year, as well as a 3% increase in house prices. Unfortunately, the company also reported a significant shift in sentiment in the sector after the election and the June emergency budget. This concern appears to be growing as the prospect of a potential double dip recession, however small, continues to catch the eye of financial observers. It will be interesting to see how the UK property market performs in the latter part of 2010 with many suggesting that despite a fairly buoyant first half, the sector could well be flat for the full year.
This is the first real negative comments on the UK property sector for some weeks now although in all honesty it was not totally unexpected.
Green measures 'to have important bearing on future property prices'
It has been suggested that environmentally-friendly measures made in properties across the UK could have a significant bearing on their price in the future.The Home Builders Federation (HBF) explained that the introduction of energy performance certificates (EPCs) as part of compulsory home information packs (Hips) will mean that the energy efficiency of homes will make them more desirable in the...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
Google takes on the property sector
While Google has many fingers in many pies, the announcement that the company is looking towards a possible property portal in the future has caused some concern within the UK property market. Indeed yesterday we saw the shares of Rightmove, the U.K.'s leading estate agent, fall by over 10% on concerns that the Google operation could reduce Rightmove's significant market share in the UK. Even t...Read More
Stamp duty holiday approaches conclusion in property market
When the UK government removed the 1% stamp duty on the purchase of homes with a value between £125,000 and £175,000, to inject interest into the marketplace, this was well received by property investors. However, the scheme is set to end on New Year's Eve 2009 with 1% stamp duty to be charged on properties with a value of over £125,000. As a consequence many estate agents are suggesting their...Read More
Best buys beside the seaside
Christchurch in Dorset, Leigh-on-Sea in Essex and Bexhill-on-Sea in Sussex offer the best quality of life for those looking for a home by the sea, according to the latest Halifax Seaside Town Review.The survey, which tracks living standards by ranking local performance in the labour and housing markets, the environment, education and health, put Christchurch top, but named Bridlington, Lowestoft a...Read More