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.
Sharing space saves savvy city-dwellers cash
Gumtree.com, Britain's busiest website for people seeking accommodation, has just announced an increase of 38 per cent in flatshare listings.Additionally, some 19 per cent of lodgers choose not only to share a property, but also share their bedroom with another boarder in order to halve their rent.Tenants have increasingly opted for accommodation measures such as 'couch surfing', which was introdu...Read More
UK house prices expected to rise in short-term
The Royal Institution of Chartered Surveyors (RICS) has today issued a report which suggests that while property prices are still falling across UK, the rate of decline has reduced markedly. There is a belief that UK property prices will actually start to rise in the short-term although part of this may be due to a lack of housing stock for sale in the UK.
The report shows that only...
Five buyers chasing every home in the UK
It has been revealed that on average there are five potential buyers chasing each and every home up for sale in the UK at the moment. While in a normal market this would be welcome news and see prices pushed further and further ahead, in this particular market, where transaction levels are still fairly low, many people are concerned that a bubble is brewing which could pop at any time. So what is...Read More
Nationwide and Halifax drop housing forecasts
Today's announcement that the Nationwide and Halifax are to drop their housing forecasts due to excessive turbulence in the market has caught many observers by surprise. These are the two main providers of data to the housing market and the fact that they are uncertain as to both the quality and assurance of such data in current markets is of concern.
This withdrawal or a vital part...
Terraced trend increases over ten years
Property price increases have been the greatest for terraced houses as compared to all other types of property in the UK over the past decade, according to a new report by Halifax estate agents.The price of an average terraced house has risen by 239 per cent from £54,945 in 1996 to £186,316 last year. The average increase for all types of property was 205 per cent overall.Terraced houses still h...Read More