UK house prices under pressure
A report by the industry body, the Royal Institute of Chartered Surveyors, has today cast a dark shadow on the UK property market the report showing that more members are seeing lower prices compared to those who are seeing an increase. The net balance on the survey was -8 which equates to a fall in UK property prices in the second half of 2010 in the region of 2 to 3%. This would leave house prices in the UK relatively flat for the year compared to 2009.
There is no doubt that negative press coverage over the last few weeks is beginning to impact upon the UK property market with buyers happy to stay on the sidelines and more sellers coming to the fore. If the situation continues in the short to medium term there is no doubt that prices will come under further pressure and what began as a small snowball could soon begin to grow.
Whether or not it is a case of more realistic pricing in the short to medium term or indeed a switch in the trend for improved demand for UK property remains to be seen. However, the UK economic outlook is not one which would support a recovery in the UK property market.
UK property companies looking to build up war chests
Amid signs of tentative interest in UK commercial property market a number of UK property companies have announced plans to raise significant capital in the short term to fund any potential opportunities which may fall their way. While it would be wrong to suggest we are seeing an all-out attack from some of the better funded UK property companies, there is no doubt that the weakness in certain ar...Read More
House Prices Forecast To Rise 25% Over Next Five Years
The National Housing Federation (NHF) has given home owners a little bit of light relief with a forecast that house prices will grow by 25% over the next 5 years. However, the bad news is that there is still further to fall over the next couple of years with 2010 seen as a turning point (something which other groups have also flagged as the turn point in the market). So what is happening?
Will A Property Stamp Duty Freeze Really Help?
News that Alistair Darling is in the process of reviewing a possible freeze in housing stamp duty has received a very good response in the press, but will it really make a massive difference?
For those unaware of the stamp duty bands you will pay 0% on a home worth up to £125,000, 1% on a property between £125,000 and £250,000, 3% between £250,000 and £500,000 and 4% for a pro...
One beach hut for sale at £300,000
The location is the Chesil Beach at West Bexington, Dorset which is home to potentially the U.K.'s most expensive beach hut. The property, which is a 524 ft.² single-storey three bed wooden shack looks, on the outside, like a large garden shed but could in fact become a pot of gold for the property's owner. Despite the fact that we are in the grips of an economic downturn in the UK it would appea...Read More
Land Securities injects realism into the UK property market
After announcing a 34% reduction in the value of its property portfolio, Land Securities has shocked both the UK stock market and the UK property sector today. The company has heavy exposure to both the retail sector and the office space sector across the UK and today's figures indicate the situation may be worse than many had anticipated. Overall the company announced losses of £4.7 billion agai...Read More