Spare a Thought for the Property Industry Second-Steppers!

March 20, 2012 Leave a comment

Second-SteppersWe hear a lot in the media about how difficult it is to buy your first home, but what about the next level up? The second steppers – those who would usually be selling to the first time buyers. Not only has their target market significantly reduced in size, they are being squeezed from other angles too. We take a look at the main issues affecting this group.

There are three main reasons for why second steppers are finding it difficult to sell their properties… Read more of this post

Filed under Property market economy, Property news Tagged with , , , ,

NewBuy scheme not welcomed by all estate agents

March 15, 2012 1 Comment

NewBuy schemeIn a bid to boost the flagging property market, the Coalition government has unveiled a NewBuy guarantee scheme said to be backed by £1bn of government money. Housebuilding companies are hoping to see an uplift in purchases of new homes – sales figures are running at about half the 2007 level, according to The Independent.
The government needs to get lenders on side, though, to implement the scheme, which offers a mortgage indemnity guarantee (MIG) to buyers of new homes who only have a 5% deposit.

David Cameron said “It’s no good hoping people will climb the property ladder if the bottom rung is missing.” David Cookson, mortgage advisor for Manchester-based estate agent Harvey Scott, said, “Any help the housing market can be provided with at this moment in time has to be welcomed with open arms. Read more of this post

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Potential Issues for Owners of Second Properties

March 13, 2012 Leave a comment

Potential Issues for Owners of Second PropertiesIn recent years, a growing number of people have become owners of second homes, either as a result of an inheritance or of personal investment in buy to let properties. The increasing trend in the housing market towards renting flats and houses has led to the creation of a sizable leasing sector in all areas of the UK and beyond.

The extra income generated from these properties can prove extremely useful, of course, especially for those people who have suffered financially as a result of the economic recession, and there are many experts who are predicting further growth in the ownership of multiple residential dwellings in the coming years. Read more of this post

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Second time home buyers faced with serious challenges

March 1, 2012 Leave a comment

Second step home buyers faced with serious challengesSecond time home buyers wanting to sell their first home to move up the property ladder are faced with tough challenges in the UK. A recent survey shows that they are severely struck by the subdued housing market. This is also responsible for a lack of movement at the bottom half of the ladder.

The research from Lloyds TSB presents worrying results. 61 % of the participants of the survey claim that they have been stuck on the property ladder for 12 months, with 20% thinking that it is now harder moving up the ladder than getting there and 54% predict that the housing market will not improve this year. Home affordability, negative equity, higher deposits, a lack of buyers and the cost of moving are considered as the most difficult challenges. Read more of this post

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France still is a good country to invest in property

February 24, 2012 Leave a comment

France still is a good country to invest in propertyFrance is still perceived as a safe haven for property investment as the second biggest economy of the euro zone manages to stick to economic growth despite the general uncertainty. Last year the economy grew by 1.7 percent and the predictions for 2012 are positive too. Real estate investors from the UK appreciate this stability.

The numbers confirm this impression. Compared to January 2011, British purchases on property have more than tripled in France in January 2012. The exchange rate between the sterling and the euro is seen as a major factor of this increase in sales, but the above-mentioned good economic outlooks of France are also responsible for the confidence in the French market. Read more of this post

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Housing market prices rise surprisingly fast

February 20, 2012 Leave a comment

Housing market prices rise surprisingly fastThis February, housing prices in the UK have risen by 4.1%, which is the highest monthly rise in 10 years. This increase comes as a big surprise given the unstable economy and political trouble. In January, prices still fell by 0.8%.  Experts claim the recent rise is due to strong demand from cash-rich market sectors where demand exceeds offer.

London is one of these cash-rich market sectors. Its property market cannot supply the demand for flats and houses asked by wealthy buyers. Foreign investors represent an important part of that demand which results in higher prices. London prices are now only one percent off their all-time high. Read more of this post

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Venice is attracting British property investors

February 14, 2012 Leave a comment

Venice is attracting British property investorsIn this recession, British property investors have changed their behaviour. They have abandoned emerging markets like Eastern Europe for quality places they know better and appreciate more. Venice, the famous Italian city which combines beauty with tradition, art and culture, is the perfect example for this change of paradigms.

Venice has been attracting tourists for a very long time. Its canals and architecture are an inspiration to many people and the San Marco Piazza, the Doge’s Palace and the Basilica San Marco are known all over the world. Recently, it has also become a favoured spot for foreign property investors, especially British buyers who seek to store their capital in Venetian property since the prices for the luxurious buildings are still rising. Read more of this post

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Cheaper to buy a house than to rent one

September 28, 2011 2 Comments

Cheaper to buy a house than to rent oneBritish property portal Zoopla analysed the asking prices and rent rates for all two-bedroom apartments available on the market and compared the cost of rent and of ownership based on servicing an interest-only mortgage at 5% p.a, reported propertytalklive.co.uk.

On average the difference between renting and buying is 13%. Rising demand for rented properties and decreasing house prices mean that in about 90 % of the country (45 of the 50 largest British towns), it is cheaper to buy a residential property now than it is to rent one. Read more of this post

Filed under House prices, Housing market, Property market economy, Property news, Rents Tagged with , , , ,

Buying a property has become cheaper than renting for first-time buyers since 2008

August 29, 2011 Leave a comment

Buing a property like one of these is cheaper than renting oneSince 2008, property prices have together with considerably low interest rates been gradually falling and have made buying a property cheaper than renting one for first-time buyers.

This new report regarding the housing market was released this morning by the Telegraph in an interesting article concerning first-time buyer’s property investment situations.

According to a new research made by Halifax, buying a property can be over £100 a month cheaper for first-time buyers than renting a house or a flat.

When first-time buyers consider buying a two-bedroom flat these days, they have to face an average monthly cost of around £567. The average rental price for a similar property is about £110 higher. Read more of this post

Filed under House prices, Housing market, Property market economy, Property news, Rents Tagged with , ,

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