How can first-time buyers climb onto the property ladder?
A report yesterday suggested that the UK is fast becoming a property rental economy rather than a property purchase economy, something which has been in place for many decades. There are now great concerns that first-time buyers are effectively being priced out that the UK property market due to an increase in property prices and a lack of liquidity in the mortgage market. So how can first-time buyers climb onto the property ladder?
There are many different options available for first-time buyers although unfortunately they either mean years of saving or some form of shared equity with a housing association or other third party. At this point in time even the average UK house price is well beyond the means of many first-time buyers and even if property prices come down, there may be a reduction in liquidity in the mortgage market which will again block their route to entry.
It is ironic that the UK situation has now turned full circle in direct contrast to the US situation where many people had preferred to rent rather than buy. There is very little assistance that the UK government can offer in the short to medium term and ultimately first-time buyers are now at the beck and call of market forces.
Buy to let 'dying', expert says
The buy to let sector is dying as house prices fall, Firstrung has suggested.According to the first-time buyer specialists, investors are falling in to negative equity due to the decline of the UK property market.This point of view is supported by recent figures from the Royal Institution of Chartered Surveyors, which revealed that just two per cent of the private landlords were planning to sell u...Read More
Deloitte Forecast Property Slump Until 2010
Respected accountant Deloitte has plunged the property market into further chaos by suggesting that the ongoing slump in prices will last up until 2010 and see prices down one third from their recent highs. The move has scotched hopes of a sharp bounce in the sector given the recent takeover interest of late and hopes that more bids would follow.
However on the upside Deloitte feel...
Buy to let sector under pressure
A report into the UK buy to let sector would appear to indicate concerns are growing and many landlords are looking to remove themselves from the industry in the short to medium term. The report by LSL Property Services shows that 42% of buy to let investors believe it is still a good time to buy in the UK against 48% during the first quarter of 2010. Around 20% of buy to let landlords are also lo...Read More
Why are first-time buyers not flocking back to the property market?
With UK homes apparently now three times more affordable for first-time buyers than prior to the credit crunch, is it right to ask the question why first-time buyers are not flocking back to the UK property market?
The substantial reduction across the UK property market has prompted suggestions that first-time buyers are looking towards properly again although the figures so far do...
Is Farmland The Next Property Boom Sector?
As the UK housing market continues to fall away there are signs that the value of UK farmland will continue to push higher and higher in the short term. Estate agent Savills has reported that the price of English farmland had increased by over 30% since December 2007, bringing a 50% gain over the last 12 months. So what is happening?
As with any investment, farmland is valued on t...