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.
Land Registry reports small rise in UK house prices
The Land Registry has today issued a report suggesting that UK house prices increased by 0.3% in August which was around half of the rise seen in July. According to the report the average home in England and Wales is now valued at £167,423 with annual growth falling from 6.8% in July to 6.7% in August. These figures on the surface appear to be very much at odds with recent property reports sugges...Read More
When Government Headlines Don't Match The Small Print
News that Carlisle City Council are in line for a £100 million government handout for new housing builds has been well received in the city after the recent flood left many areas of the city in ruins. However, the announcement by Housing Minister Caroline Flint is maybe not as generous as it sounds if you check the small print.
True, there is £100 million for the council to use...
Staying put to move up the property ladder
Homeowners in their thirties and forties are increasingly choosing to stay put and renovate, rather than moving house, according to a new survey by Standard Life.Only one-in-ten thirty to forty-year-olds said that they were thinking about moving, and some three-quarters of those questioned said the cost and hassle put them off.A third said that they believed they could add to the value of their pr...Read More
Is it time to pump your savings into the UK property market?
While the UK property market is struggling to pull away from the credit crunch and recession it can be difficult to look longer term in relation to UK property prices. While prices are unlikely to push ahead in the short to medium term, due to increased taxes, a reduced public sector budget and difficulties overseas, is there still potential for long-term capital growth in the property sector?...Read More
Planning permission to build new homes at six year high
12/09/2014 The number of new homes being built could be set to grow even further, as it was revealed that planning permission to build new homes hit a six year high in the second quarter of 2014. The figures, which were published in the Home Builders Federation (HBF) Housing Pipeline report showed that planning permission for 56,647 homes was granted in England during this time period. T...Read More