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.
Rich BRICs invest in British bricks
Increasing demand for UK property from emerging economies such as Brazil, Russia, India and China (BRICs), will sustain property prices in the near future, a report predicts.Foreign buyers presently account for approximately one third of all property purchases in London, says estate agent Knight Frank. This figure climbs to 75 per cent for houses worth over £5 million."Average house prices in cen...Read More
Top ten tips for selling your house
With the housing market slackening off and people being put off buying by high prices and rising interest rates, vendors are finding it harder to sell their properties.With this in mind, a survey by Nationwide has looked for the factors that will help vendors sell their home.The came up with the following top ten tips:1. Tidy up - 55 per cent of potential buyers said an untidy house was off puttin...Read More
Is gazumping making a comeback?
Gazumping is a word which has been relatively innocuous over the last 18 months as the UK economy and the UK property sector took fright at the credit crunch. However, there were signs last month that gazumping is making a comeback and may well have pushed prices higher to the excitement of many analysts and investors. So what is actually going on?
While interestingly it may seem as...
Is there demand for UK property?
Even though we have seen signs that UK property prices are starting to firm up, although some reports suggest there are and some reports suggest they are not, there is no doubt there is interest from UK consumers and UK investors. However, whether this interest is purely "bottom fishing", or a return to former genuine interest levels remains to be seen.
While there is no doubt that...
Agents 'not applying for Hips before selling homes'
Some estate agents are neglecting to apply for Home Information Packs (Hips) until after they begin advertising a property, the BBC reports.According to new research from the Law Society, pressure from sellers who do not wish to pay the £300 required for the packs cause this delay.This apparent consumer antipathy to Hips - which became mandatory for all home sales last year - seems to have been s...Read More