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Will first-time buyers ever get back on the property ladder?
As we see the introduction of the infamous 125% mortgage from Nationwide, even though it is perhaps not as bad as it seems, there are concerns that first-time buyers in the UK will struggle to climb aboard the property ladder. Despite the fact that UK property prices have fallen substantially over the last 18 months there is still a significant gap between what are the average first-time buyer can...
Read MoreLowest house price growth in over a year
House prices grew by just 0.1 per cent in July, according to the latest Nationwide survey.This is the lowest monthly increase in house prices since April 2006, although the average UK property costs £184,270, still up £16,537 on last year.High interest rates are thought to be reducing demand for mortgages and also bringing down the rate of property inflation.Fionnuala Earley, Nationwide's chief...
Read MoreShortage of homes pushes prices to record level
09/07/2015 A shortage of homes on the UK market has caused house prices to reach a record average of £200,280, according a mortgage lender Halifax. The number of homes on the market has fallen to a 37 year low, pushing house prices up 1.7% to further unattainable levels. The Royal Institute of Chartered Surveyors (Rics) has confirmed that the number of homes on sale for each member has fal...
Read MoreMore house price gloom in February
The Nationwide Building Society survey into UK house prices has revealed a further fall of 1.8% in February as lower interest rates and lower house prices have a minimal effect on the UK property market. The average UK home has fallen in value by over 17% during the last 12 months which equates to £31,000 for an average price in the region of £147,000. More alarmingly for those who acquired thei...
Read MoreUK housing market is too focused
Hometrack, one of the U.K.'s leading property experts, has confirmed that in its opinion the average price of a home in the UK will fall in 2010. Aside from the fact that unemployment is on the increase, household incomes are under pressure and the economy has not yet left recession, the company believes the ongoing improvement in the property market is focused upon too small a number of buyers....
Read MoreGovernment buy to let register is unworkable
The National Landlords Association has today come out in favour of regulation of the buy to let market but firmly against plans by the UK government to introduce a buy to let register. Despite the fact that the UK government had initially indicated a "light touch regulatory regime" the move to ensure that each and every property which is rented in the UK is added to the register could cause signif...
Read MoreRoyal Institution of Chartered Surveyors predicts buoyant 2009
The Royal Institution of Chartered Surveyors (Rics) has this evening suggested that the number of housing transactions in 2009 will show a significant rise over the 2008 figure. However, before homeowners begin to count their lucky stars, there is also a suggestion that house prices themselves will fall by a further 10% in 2009. The expected increase in transaction levels is more a case of bottom...
Read MoreUK government puts aside £388 million for housing projects
The UK government has today confirmed that £388 million has been put aside to provide funding to 115 private sector housing projects in England. The "Kickstart scheme" has begun with a £62 million payment to an array of private sector developers who had been caught short by the recession and were forced to mothball some of their developments. So what does this mean for the industry?
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100 UK Homes Repossessed Each Day
News of a 48% increase in house repossessions in the first half of 2008 has shocked many in the City but with the increased cost of living yet to hit home there are grave concerns that it could get much worse before it gets better. Nearly 19,000 homes were repossessed in the first half of 2008, according to figures from the Council of Mortgage Lenders (CML), a substantial increase on the 12,800 f...
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