Worsening economic conditions will lead to more evictions and falling rents, says Linton Chiswick of Citywire Money – and litigation against surveyors is already on the rise as rents fail to meet expectations. With house prices falling – but not fast enough to release first-time buyers into the market – credit stifled and rents rising, [...]
Continue reading " Alternative Argument On Buy-to-Let In 2012 "
Falling house prices have meant home ownership is now more affordable than it has been for eight years, according to Britain’s biggest mortgage provider Halifax. Fewer than four years’ average earnings are now needed to buy the typical first time buyer property in 44 per cent of local authority districts (LADs), which is less than [...]
Continue reading " Falling House Prices Increase Affordability "
The Eurozone crisis and David Cameron’s protectionist stance over the City and financial services industry has provoked strong interest in high value Prime Central London property, according to UK agency W A Ellis. “We have seen over the last two weeks an unusual amount of activity at the top of the market from both Russian [...]
Continue reading " Cameron’s Protectionism Fuels London Prices "
Rising unemployment, the threat of Eurozone disaster and falling GDP – the signs for 2012 are already worrying. But it’s not all bad. We gather some predictions from around the UK. First the Eeyors of the market: Howard Archer (IHS Global Insight): “I think house prices will fall by 5 per cent over the first [...]
Continue reading " Experts Make Their Property Predictions For 2012 "
HM Land Registry quarterly sales statistics, released in mid-November 2011, show continued demand for the world’s premier real estate, with record breaking house prices in London Central’s two boroughs – The Royal Borough of Kensington & Chelsea and The City of Westminster. The average price of a property in Westminster rose by 7 per cent [...]
Continue reading " Westminster Property Values Break the £1 Million Barrier "
Falling house prices could mean that as many as 1.6 million homeowners will be in negative equity within the next few months, according to mortgage administrators Homeloan Management Limited (HML). Currently more than 800,000 home owners – 7.3 per cent of all households with a home loan – have a mortgage that is bigger than [...]
Continue reading " Negative Equity to Hit 1 in 7 Homeowners! "
Billionaires’ homes in London now change hands for an average of more than £3,000 per square foot and the capital has the fourth most expensive house prices in the world, according to new analysis by international estate agents Savills. The global super-rich invested more than £3.3 billion in London property last year. While middle class [...]
The end of the stagnant housing market is in sight, according to the Centre for Economics and Business Research (CEBR). The think tank has predicted that by 2015 house prices across the UK will have risen on average 14 per cent – to an historical record. A new report from the CEBR predicts that the [...]
As the threat of an interest rate rise recedes, banks have begun to offer some of the cheapest mortgage deals for decades. The cost of both fixed-rate mortgages and tracker deals has fallen sharply in recent weeks, and with the economy still struggling, experts do not now expect the Bank of England to raise rates [...]
With the UK economy still in poor shape, as high street chains such as Habitat and Jane Norman go bust, the Governor of the Bank of England Sir Mervyn King has calmed home owners’ fears of an interest rate hike, saying that rates would not rise until it was certain the economy was growing and [...]
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