Bovis concerned about UK housing market
Bovis, one of the UK's leading house builders, has today gone public with a number of concerns regarding the short to medium term future of the UK property market. While the company reported a return to profitability, with £3.5 million surplus for the first six months of 2010, and an increase in both house prices and housing sales, there was much mention of the government's spending cuts and tax rises.
The company has seen a 3% increase in the number of sales in the first half of 2010, compared to the same period last year, as well as a 3% increase in house prices. Unfortunately, the company also reported a significant shift in sentiment in the sector after the election and the June emergency budget. This concern appears to be growing as the prospect of a potential double dip recession, however small, continues to catch the eye of financial observers. It will be interesting to see how the UK property market performs in the latter part of 2010 with many suggesting that despite a fairly buoyant first half, the sector could well be flat for the full year.
This is the first real negative comments on the UK property sector for some weeks now although in all honesty it was not totally unexpected.
Northern Ireland property market fragile
It would appear that hopes of a short to medium-term recovery in the Northern Ireland property market may well be dashed with news that property prices fell by 2.5% in the second quarter of 2010 compared to the first quarter. While the year on year increase compared to the same period last year was still a positive 2.4% it is the ongoing slow down which is causing major concern. The average pr...Read More
Robert Bonnier - He came, he saw, he lost the lot!
While Robert Bonnier is perhaps better known for building up the Scoot empire during the dotcom boom and making literally millions for himself, he has a track record of ups and down which few investors would want!
Over the years, as well as the Scoot investment, he has been very active in an array of dotcom stocks, increasing his portfolio substantially with the boom seemingly set t...
What could you do with £23,000?
It has been revealed that the average home across the UK has lost £23,000 in value over the last 12 months. However, with many observers forecasting harder times ahead for the property market it seems as though this figure may grow substantially unless we see a major turnaround in the economy.
Many people will be shocked to learn the true extent of the UK fall off because figures...
Rightmove reports a 39% increase in half year profits
Internet-based property operation Rightmove has today announced half year profits up 39% to £24.5 million. Despite the fact that the UK property market is under pressure the internet company reported a record level of buying interest in March which appeared to remain fairly high during the often quiet summer months. Indeed the company is suggesting that trade numbers continued to grow in July and...Read More
Middle England to see £40,000 house price fall
Homeowners in Middle England could see house prices fall by as much as £40,000 before the end of the year, new research suggests.According to figures from Axa, property in Middle England may drop by 18.3 per cent before Christmas as a result of the current economic downturn.Across all demographics, the company predicts a house price fall of 12.9 per cent by 2009, with negative equity a possibilit...Read More