Will UK property ever be as popular again?
At the height of the boom time for the UK property market it seemed that nobody could lose money and conversely at the bottom of the UK property market it seems that nobody can make money. Investor sentiment is very often based upon short-term trends and many investors can become blinkered with regards to the potential long-term prospects for the UK property market. So will UK property ever be back in vogue?
Without doubt the UK property market, along with other investment markets, will eventually show signs of recovery and investors will soon forget the difficult times we have experienced over the last three years. However, the length of time between the top and bottom of the current economic cycle will be longer than that seen for nearly 100 years and as such investors may take some persuading when the economy finally does recover.
If you look back in time it soon becomes evident that the most successful investors are those who can keep a long-term outlook despite difficult short-term situations. These are the investors who are not scared to make mistakes in the short term but who believe in their long-term strategies and are prepared to "put their money where their mouths are".
When will first-time buyers be allowed back onto the property ladder?
Over the last couple of weeks it would appear that UK mortgage approval numbers have been rising, and are in fact at double the number seen in November/December 2008. This would appear to give something of a shine to the UK mortgage market when in reality there is still a lack of realistic deals available first-time buyers and indeed unless deals do appear many may well miss out again. In what...Read More
Glasgow shopping centre in distressed property sale
The Silverburn shopping Centre in Glasgow is up for sale in one of the most startling distressed property sales in the UK today. While we await official confirmation of the sale price and those interested in the property there are rumours that Bank of Scotland has effectively pulled the plug on the operation and decided to cut its losses. Bank of Scotland, part of the HBOS group, supplied the debt...Read More
Housing affordability down 350% since 2006
Housing affordability is near to a record low, and has dropped by 350 per cent in the past 11 years, according to new figures from the Royal Institution of Chartered Surveyors' (Rics) accessibility index.Data from Rics shows that homes are now five times more expensive for first-time buyers than they were in 1996, and the average cost of getting on the property ladder has risen by 8.4 per cent in...Read More
Rental market rises, Rics claims
Homeowners are giving up on trying to sell their properties - and are instead turning them over to the rental market.According to latest figures from the Royal Institution of Chartered Surveyors (Rics), 43 per cent more of its members reported that more people are asking them to help them become landlords from April to June.Over January to March, this figure stood at just 35 per cent.Additionally,...Read More
Rightmove doubles profits despite Hips loss
Online property firm Rightmove doubled its pre-tax profits during 2006, it revealed today.Total revenue grew by 85 per cent to £33.6 million last year. Pre-tax profits increased 101 per cent from £8.8 million in 2005 to £17.7 million a year later, continuing Rightmove's rapid expansion.Having floated on the stock exchange on March 15th last year, managing director Ed Williams described 2006 as...Read More