Buy to let market running out of steam
The CML has today revealed that the UK buy to let market has rebounded strongly from post-credit crunch levels although it would appear to be running out of steam. The number of buy-to-let mortgages agreed increased by 13% in the second quarter of 2010 with around 25,000 confirmed. While these figures are welcomed by investors in the buy to let market they are just around 25% of the business levels seen prior to the credit crunch and the worldwide economic downturn.
There is no doubt that the buy to let market is "over the worst", at least in the short-term, but with many experts predicting difficult times for the UK economy and a difficult period for the property market it will do well to maintain current growth levels. Indeed even the CML believes that there are signs that the sector is easing back although how far it will fall remains to be seen. It is also worth noting that a large number of buy to let investors of years gone by have now left the market, many having been forced to sell on their properties at knockdown prices. The buy to let sector enjoyed something of an Indian summer for much of the first decade of the 2000s although whether these "good times" will return again remains to be seen.
Why is the Nationwide so down on the UK housing market?
The last 24 hours have given those looking towards buying their first property something to think about with news that Nationwide believes UK house prices will fall next year. While this is not a new view in the marketplace, the very fact that company with the reputation and the respect of Nationwide is suggesting a significant fall next year does give food for thought. So what is behind the sugge...Read More
Property investment hit by rate hikes
Three interest rate rises in five months have shaken confidence in property investment, according to insurance provider Standard Life.Its latest savings and investment index shows that investors' enthusiasm in property for both buy-to-let and long-term savings purposes has been dampened by the Bank of England's recent rate hikes.The Bank's monetary policy committee voted to raise rates in August a...Read More
Another House Price rise takes London average past £500k
According to property website Rightmove, average house prices across the UK have risen for the fifth consecutive month, while average prices in the capital have surpassed half a million pounds. This year the property market has had its strongest start since 2004, and prices are now an average of 9.1pc higher than at the end of 2012. All regions across the UK also posted positive results, highli...Read More
More People Looking Overseas Than Ever Before
As the cost of living in the UK continues to rise, with many suggesting that there is little chance of it falling back in the short term, it seems that more and more of the UK population are looking overseas. While areas such as Europe have been a regular favourite with UK expats, it seems that many may now be branching out to countries in South America.
Property prices in the UK h...
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