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.
Homeowner forced to postpone £1 million raffle
Brian Wilshaw has fallen foul of the Gambling Commission after plans to raffle his home were suspended until a review of the terms of the raffle. He has already sold 46,000 tickets at a cost of £25 which will raise just over £1 million although when all costs and expenses are deducted he would actually receive £1 million, i.e. the current value of his home and additional property.
House price falls 'worse for city flats'
New-build city centre apartments are suffering worse falls in value than other kinds of property, Mouseprice.com suggested today.According to new analysis from the housing specialists, areas with large numbers of the flats are among the ten worst-performing districts in England and Wales over the past year.Birmingham Canal, an area west of the city centre that has been the site of new apartment co...Read More
Housing market gloom deepened in February
The gloom in the housing market continued to worsen last month with price drops approaching those of the slump of the 1990s, according to data from the Royal Institution of Chartered Surveyors (Rics). Figures from Rics monthly market survey show that 64.1 per per cent more surveyors reported a fall in house prices rather than a rise during February. This is up from the figure of 54.7 per cent in J...Read More
When is the right time to remortgage your property?
As more and more UK homeowners struggle to make ends meet a number of people are looking at the opportunity of possibly remortgaging their home. As UK base rates continue to fall further, with some suggesting that rates could fall to around 0%, is now the best time to remortgage your home?
It has to be said that with base rates under 1% and possibly set to fall further in the short...
Land Registry reports small rise in UK house prices
The Land Registry has today issued a report suggesting that UK house prices increased by 0.3% in August which was around half of the rise seen in July. According to the report the average home in England and Wales is now valued at £167,423 with annual growth falling from 6.8% in July to 6.7% in August. These figures on the surface appear to be very much at odds with recent property reports sugges...Read More