Real Estate & Editors' Choice News in United Kingdom from Propertyshowrooms.com

UK estate agents report increased demand

Fri, 22 Apr 2011 00:00:00 GMT

Estate agents in the UK have reported a surge in demand for new property ahead of the Easter Holidays.

According to the National Association of Estate Agents (NAEA), there has been a sharp increase in the number of house-hunters searching for a bargain ahead of the religious celebration.

"The significant growth in demand for homes reported by our agents suggests that house hunters are searching for a good deal on property before the traditional spike in activity over the Easter holidays," NAEA president Michael Jones said.

However, despite the increase interest from UK property buyers, the number of houses available for sale decreased slightly from 70 per branch in February to 68 in March.

The positive news comes in the wake of a recent report from Rightmove which said that the number of sellers currently active in the market far exceeds the number of buyers.

A weekly average of 28,390 properties entered the market in April - up nine per cent on 2009 figures, Rightmove said.

UK property prices fall in January

Tue, 8 Mar 2011 00:00:00 GMT

Demand for property in the UK may be set to rise over the coming weeks following news that house prices dropped in value last month.

This is according to the latest real estate index published by Halifax, which showed that residential property prices recorded a fall of 0.9 per cent compared to the previous month.

It means that the average house price in the country now stands at £162,867.

"Fewer properties have been coming onto the market in recent months. This trend, if sustained, should improve the balance between demand and supply and help to prevent a more significant fall in house prices," Martin Ellis, housing economist at the Halifax, said.

The expert suggested that investors looking to buy property in the UK will see prices fall by around two per cent in 2011, with an uncertain economic outlook expected to weigh down on demand.

Meanwhile, the latest survey by the Royal Institution of Chartered Surveyors showed a reduction in new seller instructions for the fourth successive month in January.

First-time buyers struggle in London property market

Fri, 21 Jan 2011 00:00:00 GMT

Kensington and Chelsea have been named as the most expensive area to buy property in London, according to a new survey.

The National Housing Federation has released its Home Truths survey which details the top ten most expensive borough's within the capital and the top five most affordable.

Average prices in Kensington and Chelsea top the £1 million mark, the data shows.

The three most affordable boroughs in London are Barking & Dagenham, Bexley and Waltham Forest.

Belinda Porich, head of London region at the National Housing Federation, said that the statistics show how unaffordable property in London is for first-time buyers.

"With average house prices of over 20 times the average income in some areas of London, it has become increasingly difficult to get onto the property ladder," she said.

"Housing associations across London are working hard to help combat the housing crisis but need continued government investment to build new homes."

Mixed outlook for UK property sector

Tue, 18 Jan 2011 00:00:00 GMT

Real estate values in the UK will go through a mixed period in 2011, with prices not expected to move significantly up or down, it has been suggested.

According to Stuart Law, chief executive officer of Assetz, a slump in the market this year is unlikely.

"All we are going to see is a mixed period which is not particularly going up or down. The lack of housing here in the UK will continue to support pricing as will rising rents, pushing people towards purchasing instead of renting," he said.

However, analysis published as part of the Fathom/Zoopla Auction Price Index has suggested that house prices are set to fall in 2011, those looking to buy property in the UK may be interested to learn.

"We expect to see bigger falls in house prices, as measured by the lenders' indices, as we move into the new year. If the reading on the Fathom/Zoopla API remains close to its current level, then a double-digit fall in house prices through 2011 is on the cards," Andrew Brigden, senior economist at Fathom Consulting, said.

Lack of demand stifling recovery in UK market

Wed, 15 Dec 2010 00:00:00 GMT

A lack of demand for real estate in the UK is stifling the recovery of the country's property market, a new index has suggested.

Figures released by the Royal Institution of Chartered Surveyors (Rics) show that analyst predictions for home values over the coming three months remain negative.

Some 44 per cent more chartered surveyors reported that prices fell rather than increased in November, a slight improvement on October's net balance of -49 per cent.

Rics explains that lack of demand from buyers continues to be the primary barrier to market growth, adding that new buyer enquiries fell for the sixth consecutive month.

However, the sharp rise in the level of property coming to the market appears to be fading and new instructions have now dipped for two months in succession.

"Despite some better economic data, fears over how future spending cuts will impact on the jobs market are clearly still weighing heavily on potential purchasers' minds," Rics spokesman Ian Perry said.

"Meanwhile, the lack of mortgage finance continues to deter first time buyers."

Rural market outperforms urban over last decade

Wed, 17 Nov 2010 00:00:00 GMT

Individuals looking to buy property in the UK may be interested to learn that the rural market has outperformed the urban sector in terms of prices over the past ten years.

This is one of the findings of the annual Halifax Rural Housing Review, which stated that the average rural home value is now 20 per cent higher than the average urban dwelling.

According to the research, prices in rural areas experienced smaller falls during the recent downturn in the property market.

Indeed, rural property prices fell by 20 per cent between 2007 and 2009 compared to a 25 per cent drop in urban areas, Halifax explained.

"Rural properties continue to trade at a significant premium to homes in urban areas," said Suren Thiru, housing economist at Halifax.

"However, as a consequence of rising property prices and generally lower average earnings, the housing market in rural areas has become more challenging over the past decade."

Number of USA homes for sale rising

Wed, 28 Jul 2010 00:00:00 GMT

The number of properties for listed sale in the USA is continuing to increase, according to research.

People considering buying a home in the USA will be pleased to learn that Altos Research's report revealed house prices there are also remaining stable.

According to the company's composite price index, following a monthly USA price increase in May, asking prices for homes on the sales market stayed flat in June.

The report also found that an increasing number of USA homeowners are making the most of improving market conditions and putting their homes up for sale.

In June and during the first half of 2010, the number of homes on the USA property market rose.

Compared to the $470,017 (£303,236) average price recorded in January 2009, June's price data is better.

Altos Research is a resource for real-time real estate data which publishes statistics and analysis of real estate market.

UK rental prices could continue to post increases

Fri, 2 Apr 2010 00:00:00 GMT

Rental prices in London and the south-east of England are likely to remain buoyant thanks to a reduction in the amount of property available on the market, it has been suggested.

Tom Entwistle, director at LandlordZONE.co.uk, is confident that property investors in the more prosperous regions of the UK will see rental yields remaining steady and even experiencing growth in the future.

According to the latest FindaProperty monthly report, rent asking prices on a national scale for properties saw a growth of 0.7 per cent last month, while the number of properties available to rent fell by 4.2 per cent over the same period.

A lack of property is said to be the most pressing issue affecting the rental sector, the Association of Residential Letting Agents has said.

Mr Entwistle added: "Demand from tenants, particularly in the south-east, is steady and could even be rising because of the difficulties in the recession.

"Rents should remain firm and could grow steadily in the more prosperous areas."

In addition, the property expert recommended that potential landlords conducted the necessary research before entering the rental property market.

Brits looking for 'a true Spanish lifestyle'

Sat, 17 Jan 2009 00:00:00 GMT

People looking for property in Spain are searching for more traditional homes, according to an expert. Mike Hamilton, managing director of Casas de Lorca, told Property Wire that...

The world's most valuable addresses

Fri, 16 Jan 2009 00:00:00 GMT

Retail space is the most expensive in these 10 shopping districts around the world...

1.4m Britons escaping UK

Wed, 14 Jan 2009 00:00:00 GMT

A new survey from Sainsbury's Bank reveals that 1.41 million British people are planning to take a break from the UK to escape the dismal weather and slowing economy.

The research also discovered that 4.79 million Britons will enjoy an extended holiday from the country over the next 12 months, spending more than one month away from home.

According to the survey, visiting family and friends is the most common reason for people to travel overseas, with 38% citing this as their motivation, while 30% said they wanted to get away from the British weather.

Older UK residents were found to be the most likely to head abroad for a long period, with 1.72 million people in the over-55 age group revealing plans to spend at least 30 days in another country.

The findings suggest that many retirees may be planning to spend some time at their overseas property, with countries such as France, Spain and Turkey still popular with the retiree market.

Last month, property expert George Glen told the Herald that Spain is an attractive location for retired homeowners due to the high quality of its healthcare services.

Visit our off-plan property Spain page.

Taxpayers Own Half Of Superbank

Mon, 12 Jan 2009 00:00:00 GMT

Taxpayers will own almost half of the "super-bank" created from Lloyds TSB's rescue takeover of HBOS...

Fifth of properties in the UK have been on the market for a year

Wed, 31 Dec 2008 00:00:00 GMT

One in five properties in some areas of the UK has been on the market for the whole of 2008...

Property a sound investment in 2009

Tue, 30 Dec 2008 00:00:00 GMT

Investors urged to look at quality of property and long-term potential Property investors and landlords have been urged to take a long-term view of their assets to weather the economic downturn. While property values may not fully recover over the next 12 months, Edinburgh property management specialists Cullen Property are advising clients to stay calm and stick...

UK house price experts differ on depth of fall

Tue, 30 Dec 2008 00:00:00 GMT

House prices in Britain are set to fall by an average of 10 per cent next year, according to forecasters, with some experts expecting the decline to bottom out after summer. Daniel Thomas, Property Correspondent, FT.com - 29 Dec 2008 There is a wide disparity between the most optimistic forecasts – that the market will remain flat...

Rates lowest since 1951

Fri, 5 Dec 2008 00:00:00 GMT

Interest rates were slashed by another percentage point yesterday, bringing the official cost of borrowing down to 2%, equal to the lowest rate since the Bank of England was founded in 1694...

Investor buys entire street at cut prices

Thu, 27 Nov 2008 00:00:00 GMT

Fund managers are taking advantage of the sharp downturn in house prices to buy cheap properties from struggling buy-to-let landlords and distressed homeowners...

Fall in advisory costs not likely to spur home sales

Tue, 25 Nov 2008 00:00:00 GMT

Investors are set to benefit from lower fees for managing their finances after the cut in VAT. Charges for fee-based financial advisers, estate agents, tax planners...

Pre-budget statement only offers modest relief for UK property market

Tue, 25 Nov 2008 00:00:00 GMT

The UK government's pre-budget report published yesterday is unlikely to have much impact for property owners and the real estate market, it is claimed...

Property buyers urged to research the market

Tue, 21 Oct 2008 00:00:00 GMT

People who are thinking of purchasing a property in another country have been advised to research the market first.

Jasmine Harman, presenter of A Place In The Sun: Home or Away, said many people opt to buy houses in places they have never been to before.

Speaking to the Daily Record, she stated that this group are basing their decisions either on recommendations from friends or from information on the internet.

However, Ms Harman said this is not necessarily the best way to go about investing in an overseas property.

"There's a lot to be said for feelings you get when you initially arrive somewhere and these people have never experienced that," she commented.

Ms Harman added that it is important for people to know where they going and exactly what kind of place they are committing themselves to.

This comes after Mark Bishop of A Place in the Sun magazine said property can be a much safer investment than stocks and shares.

British expats leave Europe behind

Fri, 12 Sep 2008 00:00:00 GMT

Expatriates from the UK are increasingly shunning traditional European countries and heading further afield.

According to the Sun, this is partly because house prices in eurozone countries in particular are much higher than those in some long-haul destinations.

Brazil was highlighted as one location which is being widely seen as an affordable alternative to hotspots such as Spain.

This was said to be because it offers a number of good-value properties, with villas in desirable coastal areas sometimes costing as little as £130,000.

The Sun commented: "Brazil [is] among the new favourites of Britons to up-sticks to with places like the Costa Del Sol becoming more of a case of Costa-too-much."

Earlier this week, insurance firm AXA predicted that the number of Britons who move abroad each year will go up in the near future.

The organisation believes factors such as the current economic downturn in the UK are making the prospect of moving to the sun highly attractive.

Visit our off-plan property Brazil page

House price falls cause a 'greenshift' to commuter towns

Mon, 18 Aug 2008 00:00:00 GMT

Homebuyers priced out of London are taking advantage of falling property values in leafy commuter towns to move out of the capital Estate agents and home move services...

The City The Credit Crunch Forgot

Thu, 14 Aug 2008 00:00:00 GMT

It is the city the credit crunch forgot. The rest of the UK may be feeling the pinch, but life is good in Aberdeen, the oil capital of Europe...

Is The Media Marketing House Doom?

Tue, 22 Jul 2008 00:00:00 GMT

The headlines have become a daily diet of property market doom and gloom...

IMF says Britain will dodge recession

Fri, 18 Jul 2008 00:00:00 GMT

The International Monetary Fund has signalled that Britain is likely to avoid recession, upgrading its economic forecast for both this year and next...