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.
Using your SIPP for property investment
Here's how you can cash-in on one of the longest standing advantages of having a SIPP - buying commercial property. There are just a few things you'll need to know. There are some great advantages associated with doing this; • Growth of the property will be free of capital gains tax and it will be free of inheritance tax on death. • Any rental income you make from the pr...Read More
Stamp Duty Rumours Simply Untrue Says Treasury Spokesperson
A Treasury spokesperson has today come forward to blast suggestions that the government has come forward with a plan to suspend or delay the payment of stamp duty on house purchases. This seems to fly in the face of recent comments from the Chancellor Alistair Darling who seemed to indicate that a suspension of stamp duty was under serious consideration by the authorities. So what really is goin...Read More
Are first-time property buyers the key to the UK economic upturn?
At this moment in time the first-time buyer of property in the UK is a very rare commodity as mortgage lenders look to pull up the drawbridge and reduce their short-term risks. Despite the fact that we have seen an increase in the number of first-time property buyer mortgage options over the last few days this is not a trend which the vast majority of mortgage lenders in the UK have yet taken up....Read More
Are Brokers Set To Bail Out UK Housebuilders?
While the likes of Barratt Developments has been at the centre of much speculation about their financial position, the sector as a whole has seen a number of doom and gloom forecasts for the months ahead. While Barratt’s came forward to dismiss the rumours of a financial crisis, the company did not dismiss out of hand the fact that funding may be required to continue trading. So what is go...Read More
Annual house price growth down again in February
The rate of annual house price growth declined during February for the sixth consecutive month, it has been revealed. According to the Land Registry's house price index, which is generally regarded as one of the most accurate of the regular property sector studies, the rate of annual house price inflation fell to 5.3 per cent during the month. By way of comparison, in January the figure had stood...Read More