The last month has seen a 0.3% rise in the average house price in the UK, and the market itself is described as slowly improving. The average price stands at £163,981.
The actual number or sales is the lowest since the low of 2 years ago, the share of first time buyers is well down however. Figures from estate agents point to a drop in the number of available properties underpinning a steady demand for properties.
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Posted in General August 8th, 2011 by Kenny | No comments
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Posted in General August 1st, 2011 by Kenny | No comments
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Posted in General July 25th, 2011 by Kenny | No comments
Prices are down arcoss the UK (down 1.3% in England, Scotland 2.5% and over 6% for Wales) and the best bet is that we wont see a big surge in prices during this year at least. The only area which seems to be bucking the trend is London which has seen demand and prices rise since the days of 2008 when they were heaviest hit.
The Council of Mortgage Lenders have added to the gloom with news that the number of new mortgage approvals are down 5% on the same time last year.
Buyers are still very tentitive, taking longer to complete deals and with more properties on the market, it seems the market may have turned the corner although thats not much solace to sellers who have to choose whether to stay put or take a hit. PricewaterhouseCoopers are predicting a 2.2% rise in prices across the board during 2012 so there is light at the end of the tunnel.
Posted in News July 18th, 2011 by Kenny | No comments
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Posted in General July 11th, 2011 by Kenny | No comments
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Posted in General July 4th, 2011 by Kenny | No comments
The market seems to be coming round to the real nature of the property crisis. Sales are up by over 10% in England and Wales while the average price is down by 0.1% during June 2011. This is after a very quiet May, which saw 28% of the country seeing a fall in prices.
This is in the same month as a report claims that 80% of homes owners who bought since the crisis started in 2006 are now trapped in their homes, unable to sell without losing significant amounts. Buyers who bought in 2007 and 2008 are worst off with up to 93% of buyers left with a short fall. The total number of properties in question is 3.5 million across the UK.
With the market improving in terms of number of sales, those who can afford to stay where they are will see prices rise and some stability return to the market in the medium term. The buy to rent market is also strong especially in areas including London where properties usually bought by first time buyers are being snapped up where mortgage finance can be found.
Posted in News June 27th, 2011 by Kenny | No comments
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Posted in General June 20th, 2011 by Kenny | No comments
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Posted in General June 13th, 2011 by Kenny | No comments
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Posted in General June 6th, 2011 by Kenny | No comments
