Are UK homes still over valued?
There is a growing debate about the UK housing market which many are still suggesting has further to fall. Indeed there was even a report earlier this week from Global Insight which forecast that by the end of the recession the UK housing market would have lost 35% of its value from the peak. So what is going on?
Even Gordon Brown has entered the debate by suggesting that home owners in the UK are still expecting too much money when they put their homes up for sale. This and the general lack of finance are two of the main reasons why the UK property sector cannot get started again. We have already seen news that the likes of Rightmove are laying off more staff as business continues to scrape along on minimal volume.
Despite a number of attempts to try and flush buyers out there has been little or no change in the number of UK homes being sold each week. The estate agency sector is being pushed to the limit and while a number of jobs have gone over the last few days, this could just be the tip of the iceberg unless we see even a part recovery in the sector.
Share this..
Related stories
Oil prices continue to rise
Despite assumptions by governments such as those in Japan that the price of oil will fall further in the short to medium term, the exact opposite has occurred this week. Even though confidence in the US economy has fallen significantly over the last few weeks, recent figures from the US government suggested that initial indications of a fall in the US economy may have been overdone. This has force...
Read MoreProfit warnings fell in 2009
Despite the fact that 2009 was one of the worst years on record for the UK economy, the number of profit warnings released by public companies fell by 37% to a six-year low. In total there were 282 profit warnings during 2009 with the vast majority of these coming in the first quarter when the UK economy appears to have been at its lowest. So what does this show us about the future? The final q...
Read MoreConsumer confidence up as appetite for credit grows
26/09/2013 Consumers improving confidence has been reflected in claims made by the British Bankers’ Association (BBA) that consumer borrowing through mortgages, loans and credit cards have increased over the last month. Borrowing on unsecured credit rose by £76 million in August, which incidentally is the first increase in four years, suggesting that the safety-first approach of consumer...
Read MoreHow are so many pension schemes in deficit?
While the British Telecom final salary pension scheme is currently attracting all of the headlines, there are many more major UK pension schemes in significant deficit. As we have covered on numerous occasions, the situation has arisen because of a number of factors which include:-
The assumption that the average pensioner will live longer than first thought
A redu...
Should you employ an accountant for your self-employed tax return?
As we covered in two of our earlier articles, the UK government is currently undergoing a major crackdown on the self-employed in the UK and any taxation which may be due and has possibly not been declared. The growth in the power and the use of the Internet in the UK and around the world has led to a significant increase in those who are self-employed, often working from home, which has led to so...
Read More