Why is the UK property market so fragile?
As we touched on in some of our earlier articles today, the UK property market has on the whole recovered over the last 12 months but the degree of improvement is very varied across different areas of the UK. There is growing concern that both a lack of liquidity in the mortgage market, despite this being a problem for over a year now, as well as a reduction in consumer confidence could well hit the UK property market towards the back end of 2010.
Some experts believe that the improvements forecast for the first half of 2010 could all but evaporate in the latter part of 2010 although this will depend very much upon the worldwide economy and the availability of mortgage liquidity. We are seeing periods of relative interest in UK property which can often be followed by a reluctance from buyers to commit, as issues within Europe and the Far East take centre stage. Just when the UK economic situation appears to be improving, and has been for some time, external factors are coming into play and causing mayhem.
Whether or not we will look back on 2010 as one of the best buying opportunities for UK property in recent times remains to be seen.
UK house prices expected to rise in short-term
The Royal Institution of Chartered Surveyors (RICS) has today issued a report which suggests that while property prices are still falling across UK, the rate of decline has reduced markedly. There is a belief that UK property prices will actually start to rise in the short-term although part of this may be due to a lack of housing stock for sale in the UK.
The report shows that only...
There is every place like home
While mortgage advisers are touting Spain as a good investment for both the long-term and the short-term, Brits are put off a good property investment by the fact that too many of their own already haunt the Spanish shores. While nearly half of all mortgage advisers believe that Spain is the best long-term property investment in the world, 82 per cent of UK consumers said they would be most put of...Read More
Is it fair to blame the media for falling house prices?
A number of estate agents and surveyors around the UK are attempting to place the blame for the ongoing downturn in the UK property market on the media sector. However, a number of prominent media property experts also point out that when the market is rising there is no credit given to the media in the UK and it is only when prices began to fall that damaging headlines "are to blame". While th...Read More
Tenants may receive more assistance where properties are repossessed
The Scottish government has today revealed plans to try and assist up to 300 families a year who are caught up in the repossession of their homes even though they have maintained their rental payments in line with their agreement. It is known that a number of landlords across the UK have failed to inform their mortgage companies that they have tenants who are paying rent and when the landlords fal...Read More
UK property market not alone in difficult times
A report by the Economist magazine has thrown further light on the worldwide property sector and highlighted the fact that while the UK property sector is struggling it is by no means alone in the world. The report highlighted that 17 of the 19 major countries surveyed showed significant declines with only Switzerland (+5.3%) and Italy (+1.1%) showing a rise in property prices over the last 12 mon...Read More