Students force up property prices
Despite the fact that the students of today are often associated with very little income, often spendthrift and looking to save as much money as possible, it seems as though a number of university towns in the UK have benefited from the growing influx of students. Figures in the press this weekend show that students in six out of ten university towns have forced the price of property up by around 30%.
The largest recent increase in property prices was seen in Aberdeen where prices have appreciated by around 40% since 2005, a period which has seen the number of students in the city rise by 54%. This particular pattern has been replicated across many "student cities" in the UK and with more and more people now looking to rent as opposed to buying in the short-term there is potential for the situation to get worse before it gets better.
It will be interesting see how UK mortgage companies react to this new trend which is in direct comparison to the US model where many people are now moving away from the rental market and looking to purchase property. Whether this is a short-term change in the long-term UK trend remains to be seen but there are many reasons as to why it could continue for the foreseeable future.
Will UK property ever be as popular again?
At the height of the boom time for the UK property market it seemed that nobody could lose money and conversely at the bottom of the UK property market it seems that nobody can make money. Investor sentiment is very often based upon short-term trends and many investors can become blinkered with regards to the potential long-term prospects for the UK property market. So will UK property ever be bac...Read More
Nationwide warns on UK housing
After reporting pre-tax profits of £117 million for the six months to 30 September, a fall of 63% on the corresponding period last year, Nationwide has today warned of "inevitable downward pressure" on UK house prices next year. This is a stark warning from a company which is well respected in the UK property sector and would appear have its " finger on the pulse" of the UK housing market. So wha...Read More
UK Property Prices up 2.3pc on Average
The price of housing in the UK rose by 2.3pc from May 2011 to May 2012, figures from the Office of National Statistics showed. London experienced the largest hike in prices, rising 7.2pc, while improvements in the South East and East Midlands helped the UK reach the overall 2.3pc mark. This is in line with results seen in May 2010, with prices across the UK remaining fairly stable, apart from...Read More
London house prices continue to outpace rest of the UK
02/07/2014 London house prices are continuing to overwhelmingly outpace the rest of the UK housing market, as prices for the three months to June increased by 25.8% over the last 12 months. As a result, the average home in London is not only higher than the pre-crisis peak in 2007, but they are also selling for over £400,000 for the first time in history. All regions across the UK record...Read More
Property companies looking to invest for the next upturn
It seems as though property companies in the UK such as Land Securities are now readying themselves for an increase in demand for property in the medium term and looking to invest into new projects in the short term. Indeed yesterday we saw Land Securities announce a £655 million investment in the West End of London as the company continues to see signs of growth in the UK property sector. It...Read More