'House Prices' News:
It wasn’t so long ago that an asking price for property was more than achievable with many buyers ending up in a ”sealed bid” scenario to cope with the excess demand for houses.
Recent figures from RICS suggest that the gap between asking and achieved price has reached on average 10%.
Is there an end in sight to the current collapse of the housing market? “Not in the near future” seems to be the verdict.
The government has, to date, prided itself on the management of the economy and the resilience of the UK economy versus the rest of the world. Many homeowners have enjoyed unprecedented growth […]
If you are looking to sell your property in London at the current time the hardest decision to make is at what level to market the property. Estate Agents are clearly desperate for business and some will place a value on a property to secure the property on their books in the hope of then […]
The average London house price has fallen by around £28,000 in the last month, as the downturn in the property market hits the capital. The survey by property website Rightmove finds that prices fell by 6.8% in London, compared with 3.2% for the rest of the UK.
House prices in the UK have fallen for the fourth month in a row, as higher interests rates have dented homebuyers’ confidence, according to new statistics. According to property website Hometrack, the average house price in England and Wales fell by 0.3% to £174,700.
With higher interest rates and the effects of the credit crunch, homeowners face a greater risk of having their houses repossessed than they behave been since the 1990s.
According to the Royal Institution of Chartered Surveyors (RICS), around 45,000 homes will be repossessed in the coming year – this equates to 123 repossessions every day.
This represents […]
House prices in the capital are falling, and have dropped by an average £28,000 in the last month alone, as experts warn of a property-led downturn in investment affecting the economy next year.
By David Stubbs
Senior Economist with Royal Institution of Chartered Surveyors (RICS)
Over the last decade investing in property has been a hugely profitable strategy. Those who bought investment properties in 1996 were purchasing an asset with a gross yield of more than 9% financed with borrowing at interest rates below 7%.