Undersupply will drive house prices up by 2010 - August 2008
The undersupply in the housing market could lead to a recovery of house prices by 2010, the Centre for Economic and Business Research (CEBR) predicts in a report published today. As a result of the near paralysis of the housing market and rising costs, the construction industry has slowed down its house building programmes dramatically. For 2008 completions are predicted to drop by 20 per cent and by 10 per cent in 2009.
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Undersupply
will drive houseprices up by 2010
BTL investors see ‘buying opportunities’. May 2008
A majority of buy-to-let investors believe the current
housing market presents them with good buying opportunities,
according to a survey by Mortgage Express.
The survey also found buy-to-let landlords are confident rental demand will be
strong in the coming months. The survey of mortgage intermediaries found six
out of ten brokers say their clients believe the current slump in the housing
market presents them with good buying opportunities.
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Rate of annual house price growth slows in all UK regions. January 2008
Annual house price growth slows across the whole of the UK in final quarter of 2007. The ripple effect is still evident as the North-South gap widens by £15,000 in 2007. Northern Ireland saw the biggest slowdown in annual house price growth while the West Midlands was the most stable region. London saw fastest rate of annual house price growth in England for the seventh consecutive quarter. Northern Ireland and Yorkshire & Humberside saw price falls during the final quarter.
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Scottish house prices outstrip the UK in 2007. 24 December 2007
House prices in Scots towns are growing faster than the rest of Britain, excluding the London area, according to the latest research. Montrose, in Angus, recorded the highest growth in Britain during 2007 with the average house price rising by 39% to £172,000.
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Scottish houses outstrip the UK (2007)
House market is steady in popular areas as prices fall around them. December 2007
Bleak forecasts for the housing market were further underlined yesterday as data from a leading mortgage lender showed that house prices were continuing to fall throughout the country. The latest figures from Nationwide revealed that prices have declined by 0.5 per cent in December - the second consecutive monthly fall – to an average of £182,080. Prices are now growing at 4.8 per cent a year, down from 6.9 per cent a month ago. In December 2006 house-price inflation was at 10.5 per cent.
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Halifax press release - Montrose is the 2007 property hot spot. 23 December 2007
This annual survey by Halifax Estate Agents identifies the towns that have recorded the largest house price rises over the past year. 466 towns have been surveyed this year, including 32 Londonboroughs which have been classified as towns for the purposes of this research. The data is sourced from the Halifax House Price Index, the UK's longest running monthly house price series with data covering the whole country from January 1983 onwards.
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House price growth to pause for breath in 2008. December 2007
Scotland is forecast to have the strongest house price growth in 2008, while prices in Northern Ireland are forecast to fall somewhat from dizzying heights
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Buy-to-let optimism driven by new rental demand peak. 30 November 2007
Amid all the recent gloom about the housing market with its falling prices and mortgages, high interest rates and talk of the credit crunch, the buy-to-let market has had its obituary written more than once. Undoubtedly the market is less favourable now to investors who simply want to buy and sell quickly, the risks are greater for such a move as the levels of supply exceed demand in some areas and the long-termist option is neglected..
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HIPs Afford Home Prices Hollow Boost. 12 November 2007
Prices of homes on the market in England and Wales have risen this month by 0.4%. The Asking Price year-on-year change for homes in England and Wales has fallen by 2.8% since our August report to just +4.9%. Greater London Asking Prices bounced back this month by +1.2%. Prices rose in 7 of the 10 regions in England and Wales. HIPs cause a belated surge of 3+ bedroom properties entering the market, increasing supply and average prices.
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House
Prices Data November 2007
Buy-to-let: Meet the man with the £5 million Mortgage - 3 November 2007
Keep your head when all about you are losing theirs, and there is still money to be made, says Ross Clark. Anyone scared by their monthly mortgage statement should spare a thought for Ian Davison. His monthly repayments are £30,000. His only consolation is that the monthly rental income on his 38 properties currently comes to a little more than this: about £37,000. So is he bothered when he sees Northern Rock customers queueing up around the block to get their money out, or reads predictions of how the global credit crunch is going to make mortgages more expensive and possibly lead to a slide in house prices?
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Surveyors see house price falls – 11th Oct 2007
House prices are continuing to turn down, says the Royal Institution of Chartered Surveyors (Rics). Its latest survey says UK house prices in September generally fell again, with more of its members reporting a fall in prices locally than an increase. It said enquiries from new buyers had fallen for the 10th month in a row. Rics blamed the downward trend on a combination of factors, such as higher interest rates and lenders tightening their lending criteria.
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House Prices still rising regardless of rising interest rates - Thursday, 12 July 2007
Asking Prices in England and Wales are rising at an annual rate of 5.7%, ca.
3.3%
above the CPI, ca. 1.4% above the RPI and ca. 1.7% above the
AEI excluding
bonuses. Set against a backdrop of rising borrowing costs, asking prices remain
surprisingly buoyant across most regions. Favourable seasonal factors and market
momentum have, so far, helped to preserve a continued high level of confidence
amongst sellers of homes across most of the UK.
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Coastal Scotland sees biggest price rises - Monday, 18 Jun 2007 12:37
Seaside towns in Scotland have seen the biggest rises in house prices over the last year, a new survey of coastal towns reveals. House prices in Girvan, Ayrshire saw the biggest rise in the country - up 41 per cent since the same time last year to reach an average price of £131,512, the Halifax survey finds.
Girvan was followed by Arbroath (up 30 per cent to £116,363), and Ardrossan (up 28 per cent to £103,184), with Scottish seaside towns taking six of the top ten places with the highest house price inflation. St Mawes in Cornwall was the seaside town with the biggest house price rises in England (up 26 per cent to £306,212) and Colwyn Bay (up 12 per cent to £174,758) saw the biggest average increase in Wales.
House price rises in seaside towns over the last three years are also dominated by homes on Scotland's coast - nine out of the top ten towns located in Scotland. Over the past three years Eyemouth, in the Scottish Borders, had the highest house price inflation, prices rising 82 per cent to reach £155,278 in 2007.
In the same period properties in coastal Sussex have seen the smallest price rises. Six of the ten seaside towns with the lowest inflation are located in the county - Newhaven, Littlehampton, Eastbourne and Peacehaven have all seen house prices rise between 13 and 16 per cent. The survey also reveals buyers are prepared to pay more to live in seaside towns, with the average property in a seaside town changing hands for an extra £5,298, or three per cent, compared with the rest of the county.
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Coastal
Scotland sees biggest price rises
Buy-to-Let is 'best': Paragon Mortgages - - Mon 4th Dec 2006
The Buy-to-Let mortgage market is continuing to increase, benefiting landlords across the UK, says a leading mortgage lender.
Following the Bank of England's decision to raise the base rate in November, there were fears from some quarters that the hike would cool the Buy-to-Let market but those fears are unfounded according to Nigel Terrington, chief executive of the Paragon Mortgages.
The Royal Institution of Chartered Surveyors had recently declared that two Bank of England base rate rises since August had meant that Buy-to-Let was seen as a "less favourable investment".
However, Mr Terrington said: "We have seen steady activity on the part of residential property investors, who are growing their portfolios in response to additional demand from a variety of different types of tenants, including foreign migrants, young professionals, families and students."
Figures that Mr Terrington cited, based on government statistics, have found that there has been a 22 per cent increase in the number of tenants since 2001. Also, buy-to-let returns were up 2.8 per cent in November from September.
