Is the UK turning into a rental economy?
Despite the fact that the first choice for many in the UK property market is to buy a property for the future, there are now signs that more and more people are looking to rent in the short to medium term. The Chartered Institute of Housing has today issued a report suggesting that those on incomes between £12,000 and £25,000 are stuck in between being eligible for social housing and been able to afford their own property.
In what has the potential to become a self-fulfilling prophecy, the fewer people who can afford to acquire their own property the more pressure this will place on the rental market and the more properties will come under the "buy to let" banner. This is despite the fact that many buy-to-let participants have fallen by the wayside after the credit crunch and the worldwide recession. However, there is also the UK phenomenon of a housing shortage which has been ongoing for decades and many people believe is one of the reasons why UK property is so expensive.
Despite the fact that the UK government recently announced a number of incentives for local authorities to build affordable housing this will take some time to kick in and more and more people will be forced to look at renting property before acquiring their own property in years to come.
'No firm evidence of housing crisis,' says Assetz
UK house price growth has moderated over the last year, but there is scant evidence of a crisis, according to property investment group. According to data from Assetz House Price Watch, which employs data from the UK's leading monthly studies and collates it, the average UK property is now worth 1.7 per cent more than it was 12 months ago. This is in stark contrast to reports from Nationwide and H...Read More
Buy to let entrepreneurs set to sell up for £180 million
Fergus and Judith Wilson have announced plans to dispose of their buy to let property empire which is valued at around £180 million. The couple have become something of a "pinup" in the buy to let sector having built up a property portfolio from zero which is now valued at around £180 million with only £45 million of debt. Despite the fact that the buy to let market has suffered over the last f...Read More
Have We Seen The End Of The Property Programs On TV?
The rise and rise of such programs as Channel 5's 'How to be a property developer' have reflected the massive public support for financial advice programs where it seems very easy to make a fortune. Many people have followed these programs and invested into the property market, even though a great number were not experienced in the first place, often banking big bucks in the process. While it wa...Read More
Squatters becoming an issue in the UK property market
Confirmation that squatters have taken up refuge in a multi-million pound house on The Bishops Avenue in Hamstead, north London has shocked many millionaire neighbours in the area. Apparently the property, which is now derelict, was acquired by a Nigerian couple eight years ago but what has happened since then is something of a mystery.
The three men who are living in the property...
UK Housebuilders Feeling The Pressure
There are real concerns this morning that we are on the verge of a 1990s style housing slump which could literally wipe out a whole host of the UK’s best known housebuilders. Since January this year the sector has seen £4.6 billion wiped off it’s overall value and share prices are again in freefall this morning due to concerns about a possible repeat of the 1990s style slump.