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".
Average house prices continue to rise
The average house in England and Wales is now worth about £166,798 which is a 6.7% increase over last 12 months. While this is an impressive increase in house prices over the period there is no doubt that pressure is starting to tell on the UK property sector. Over the last few weeks we have seen would-be buyers retreating to the sidelines hoping to catch more value on the way down as more seller...Read More
Looming Hips 'distorting house prices'
Property asking prices rose by their lowest monthly rise in 2007 so far thanks partly to uncertainty over the looming implementation of home information packs (Hips), according to Rightmove.The property website's house price index saw a 0.4 per cent monthly growth on April's figure in May as the average property asking price rose to £237,361.Sellers anxious to avoid the cost of Hips, due to be in...Read More
Darling to ask lenders to help cash-strapped homeowners
Relief could be on the way for beleaguered homeowners in the form of new government proposals intended to alleviate the strain of meeting repayments. Under the proposals, lenders would enable homeowners to take a mortgage holiday, during which time they would not be obliged to make repayments for a limited time. It has also been proposed that mortgage providers begin a scheme whereby they buy back...Read More
Sellers 'could save thousands' online
It was reported yesterday that the new trend for selling houses without the assistance of an estate agent can be more profitable than was first imagined - thanks to the increasing use of the Internet in property sales. There is the potential for users 'going it alone' to save thousands on agency fees if they act through a neutral property website instead of relying on an estate agency. It is thoug...Read More
Have We Seen The End Of The Property Programs On TV?
The rise and rise of such programs as Channel 5's 'How to be a property developer' have reflected the massive public support for financial advice programs where it seems very easy to make a fortune. Many people have followed these programs and invested into the property market, even though a great number were not experienced in the first place, often banking big bucks in the process. While it wa...Read More