Brits opt for home improvements to add value
More homeowners than ever before are opting to fork out on home improvements in the hope of adding value to their property, according to research from Halifax.In the last year, a quarter of all homeowners undertaking home improvements did so specifically to add value to their home - up from just seven per cent last year - with over half believing the work would add up to £5,000 in value of their...Read More
Repossession Orders Up 24% As Housing Market Crumbles
News that repossession orders have increased by 24% in the second quarter of 2008 has prompted furious criticism of the government's no-action stance with the Tories and Liberal Democrats joining forces in an onslaught against Labour. While the number of recession orders hit 28,658 for the second quarter of 2008, this is still well down on the 51,037 quarterly figure reached at the pinnacle of th...Read More
Add insulation, not paint to your walls
Sellers would do better to make 'green' improvements to their homes instead of making cosmetic changes in order to add value to their property, a new study has shown.Yorkshire Bank's latest house buyer survey reported that 32 per cent of sellers plan to redecorate in order for a sale, yet 33 per cent of buyers said they would entirely repaint their new home anyway, upon moving in.Only 12 per cent...Read More
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 bac...Read More
The hidden heartache of repossession
Despite the fact that the Council of Mortgage Lenders last week reduced its forecast of the number of homes to be repossessed in the UK, we may well be missing the point. It was revealed that 9800 homes were repossessed in the first quarter of 2010 and this figure fell to 9400 in the second quarter with an estimate that "just" 39,000 homes would be repossessed this year as opposed to initial forec...Read More
Average home in London to reach £1m by 2030
15/05/2015 It has been predicted that the average house price in London will reach £1m by 2030, according to research by Oxford Economics. The research suggested that house prices will continue to rapidly increase as a result of strong jobs growth, a growing population and a severe housing shortage. There are currently around 8.5m people living in London, but this could increase to aroun...Read More
What will happen when more properties come onto the market?
As we have covered over the last few weeks, a number of property experts believe that the UK property sector is set to move higher in the latter part of 2009 and may actually move into positive ground compared to prices at the start of the year. However, cynics suggest that much of the increase in the "average price of a UK home" is primarily because of a shortage of quality homes on the market wh...Read More
UK house prices have fallen by £45,000 since the peak
While many in the property sector are looking towards a short to medium-term recovery, or a stabilisation of the UK property market, it would appear that the situation is still very confusing. A report from the Land Registry indicates a slowing the rate of decline in UK property prices while the Halifax property survey shows a fall of 1.7% in April. When you consider that all in all, the cost of t...Read More
Mini property boom hits parts of the UK
Estate agents in some areas of the UK are reporting that one in 10 properties for sale are being sold at above the asking price, with substantial demand in some areas. The likes of London, Oxford and Cornwall have been singled out as particularly buoyant property markets although there is some scepticism with regards to these claims. However, could there be a reason for the sudden interest.
House prices down again in March
New data from the Land Registry has provided further evidence of a slowdown in the UK property market. According to the body's figures, the price of a property in the UK and Wales fell by an average of 0.4 per cent during March - the second month in a row in which a fall has been recorded. As a result of the decline in March, the rate of annual house price inflation has slumped from 5.3 per cent i...Read More