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.
When is the right time to remortgage your property?
As more and more UK homeowners struggle to make ends meet a number of people are looking at the opportunity of possibly remortgaging their home. As UK base rates continue to fall further, with some suggesting that rates could fall to around 0%, is now the best time to remortgage your home?
It has to be said that with base rates under 1% and possibly set to fall further in the short...
Housebuilding sector under pressure
News that housebuilding in the UK has fallen for the first time in 12 months is a worrying sign for the industry and a worrying sign for the UK economy as a whole. A survey released today cast a very dark shadow over the sector with confirmation that orders fell in September for the fourth straight month, job losses are increasing and work rates on offer to subcontractors have been slashed of late...Read More
New House Starts Fall By 21% In First Quarter Of 2008
In a move which is hardly surprising we have today heard confirmation that new housing starts in the UK fell by 21% compared to the previous quarter, although the fall is larger at 24% compared to the same period last year. There was also similar news on the housing completions number which fell 18% to 39,500 compared to the same period last year, but only 12% compared to the last quarter. T...Read More
Location links to the price of your house
Official statistics on property prices have presented some areas of the UK rising in value, with others falling. London homes are rising fastest in value, up 4.9% in the past year, compared to a national average of 1.4%. Prices in the North West of England dropped 1.3% (Office for National Statistics). Northern Ireland showed the largest drop, down 8.1% over the year, Wales and Scotland also pr...Read More
George Osborne set to target banks and property owners
In a move which will certainly upset the traditional core Conservative party support in the UK it would appear, from leaks emanating from 11 Downing St., that George Osborne is set to make UK banks and property owners pay the price for the depressed UK economy. There have been rumours for some time about a potential banking levy and the proposed increase in CGT could hit as high as 50%, on a par w...Read More