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.
Will house prices really fall further?
The question of house prices in the UK is one on the lips of many people amid concerns for the UK economy and the UK property sector in the short to medium term. There is no doubt that the latest surveys of the UK property sector seem to indicate trouble ahead but there is also no doubt that an increase in concern amongst UK consumers could effectively end up in a self fulfilling prophecy whereby...Read More
Why is the UK property sector racing ahead in London?
The UK property sector would appear to have recovered in general but the London market is already back to pre-recession levels after such a short space of time. Despite the fact that the financial climate in the UK is still very much overcast it would appear that homebuyers are prepared to "bid up" for properties in and around the London area. So can this continue?
The truth is that...
Nationwide survey points to difficult housing market
Despite the fact that house prices remained fairly flat in September, showing a 0.1% rise according to the Nationwide House Price Index, the three-month rate of change has turned downwards for the first time since November 2009. House prices fell by 0.9% in the three months to the end of September compared to the three-month period ended August. This longer term trend would appear to show that hou...Read More
Three-storey love story
Three-storey properties are growing more popular and although most three-storey buyers did not deliberately choose a three-tiered home initially, nearly two thirds of those that own them now adore their extra floor, a new study has shown. National house builder Redrow, surveyed around 1,000 customers living in both two and three-storey properties, and found homeowners could list a wide variety of...Read More
Budget 2010: Help is at hand for the UK property sector
Today's budget saw Alistair Darling, the Chancellor the Exchequer, announce a doubling of the stamp duty threshold from £125,000-£250,000 for 2010 and 2011. This is a welcome move and is forecast to impact upon property purchases by nine out of ten first-time buyers in the UK although there is a sting in the tail for those with properties worth in excess of £1 million. While increasing the s...Read More