Mixed signals in the UK property market
Only a few days ago it appeared that buyers in the UK were more than happy to acquire property prior to the election but now it seems that some buyers have decided against stepping into the unknown. Whether it is the potential for a hung parliament or just the general uncertainty regarding the outcome for next election is debatable but signals from the property market are mixed to say the least.
It is proving more and more difficult to forecast the short-term direction of the UK property market and indeed the UK banking industry has yet to provide much-needed additional liquidity which will assist first-time buyers in joining the property market in the future. Again, we could be seeing UK banks holding back on increasing liquidity in the short term until confirmation of the next government, with the prospect of a hung parliament starting to concern more and more economists in the UK.
It is unclear how a potential Liberal Democrat/Labour Party coalition or a Liberal Democrat/Conservative party coalition would operate and indeed what policies would be taken from each party. However, there is no doubt that Gordon Brown is making a major play for a partnership with the Liberal Democrats in the knowledge that he is unlikely, at least at the moment, to secure a full majority in the Houses of Parliament.
Share this..
Related stories
How can first-time buyers climb onto the property ladder?
A report yesterday suggested that the UK is fast becoming a property rental economy rather than a property purchase economy, something which has been in place for many decades. There are now great concerns that first-time buyers are effectively being priced out that the UK property market due to an increase in property prices and a lack of liquidity in the mortgage market. So how can first-time bu...
Read MoreSo when will the housing slump end?
It is very much a case of history repeating itself with a number of experts now stepping forward to call the imminent end of the housing slump. But hold on a second, have we not been here before about 6 months ago? Or was it just 3 months ago?
We are seeing more and more experts crawling out of the wood work at an alarming rate to try and grab the headlines by calling the bottom of...
Experts gloomy on property slowdown
The current property downturn might wipe 20 per cent from the value of UK homes, a new poll indicates.This was the average forecast for the house price decline from a panel of property experts contacted for the survey by news agency Reuters.Analysts at banks, investment firms and research institutions were all among the poll respondents.Some of the experts even expected a drop in housing value of...
Read MoreIs There Still Loadsamoney In The Property Sector?
Comedian Harry Enfield has shown a prowess for property investment on a par with some of his more popular comedy character which included the famous 'Loadsamoney' character which made his name. It has been reported that Enfield has sold his Notting Hill home for a staggering £12 million pounds, netting him a profit of £10 million on his original £2.5 million outlay, in just 9 short years. So...
Read MoreGovernment Figures Confirm Property Market Slump
House sale data from HM Revenue and Customs (HMRC) have revealed that the UK housing market has seen a sharp fall in transactions over the last 12 months. Figures for the first 5 months of 2008 show there were 504,000 sales above the £40,000 stamp duty threshold, a fall of over 30% from the 743,000 sales confirmed for the same period last year.
Alarmingly the figures also show s...