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.
Nationwide home survey shows first rise in over 12 months
The Nationwide housing survey has confirmed the first annual rise in UK home prices for 19 months. In the 12 months to October 2009 the price of the average home in the UK increased by 2% although the rate of increase has slowed from 1.4% in August and 0.9% in September to just 0.4% in October. While there may be a number of factors to explain the reduction in the rate of increase, the very fact t...Read More
Manchester Property Market Set For A Boost
While it may be doom and gloom in many regional property markets around the UK, the signs for various regions on the outskirts of Manchester are looking a little rosier today. The government has announced plans to increase the scope of the CityÃ¢â‚¬â„¢s tram system and extend the service to Chorlton, Rochdale and Oldham. This is on top of the Droylsden extension which has already been...Read More
Nationwide releases new house price figures
House prices fell by 0.4 per cent this month, Nationwide said today.This means that the typical property is worth 13.9 per cent less than it was in November 2007, according to the lender.Last month's survey showed a 1.3 per cent monthly decline and a 14.6 per cent annual drop - suggesting that the property slump in the UK has started to abate.However, other studies released recently suggest that b...Read More
Beware of overstretching yourself in the property market!
Despite the fact that the UK property market is in the eyes of some people looking better value than it has for some time, you must always be aware of overstretching your finances when acquiring that dream property. Many people automatically assume that the risk reward ratio in the UK property market is now very much in favour of buyers because of the drop in prices over the last few years. Howeve...Read More
Are Brokers Set To Bail Out UK Housebuilders?
While the likes of Barratt Developments has been at the centre of much speculation about their financial position, the sector as a whole has seen a number of doom and gloom forecasts for the months ahead. While Barratt’s came forward to dismiss the rumours of a financial crisis, the company did not dismiss out of hand the fact that funding may be required to continue trading. So what is go...Read More