The Government has just published the White Paper on how it’s going to fix the ‘broken’ housing market. Puts a bit more pressure on developers but crucially doesn’t seem to address the real problem of a jammed up planning system. Still, it gave a few commentators and politicians a chance to have a cheap shot…
In this short series of posts we are thinking about whether the property market is poised for recovery and whether there is any evidence that the recovery has started. One thing I have noticed is a much larger number of estate agents ‘Sold’ signs, and far fewer ‘For Sale’ signs, in my local area. The…
In the last post we looked at some of the evidence which may suggest that the property market is poised for recovery. There certainly seems to be grounds for optimism although we’re a long way from being able to suggest that a property boom is imminent, more likely a gradual increase in confidence, leading to…
If you’re wondering if now is a good time to get into buy to let, here’s some interesting anecdotal evidence for you. I’ve just got back from my local property auction where, once again, it was standing room only. In his introductory remarks the auctioneer said what I’ve been thinking for a while. He said,…
In an earlier post (House Price April Fool) I was saying that the property market runs on confidence and credit, both of which go hand in hand. The latest Halifax Housing Market Confidence Tracker shows respondents are more optimistic about property prices since the tracker began back in April 2011. More than 4 in 10…
Here’s some interesting property market optimism fuelled by the recent budget. They predict there will be no effect on house prices this year but that prices will increase by 2.1% in 2014 and then 5% in 2015. Peter Spencer, chief economist says, “…the chancellor has focused his fire power on the home front. And the…
A recent survey of buy to let landlords by specialist buy to let mortgage lender Paragon Mortgages shows that landlords are more optimistic now than at any time over the last 3 years. Strong tenant demand means that the average void period is down to 2.8 weeks, and more landlords consider buy to let mortgages…
If you have a tracker (buy to let) mortgage, or even a normal tracker residential mortgage, this crazy legal judgement means that lenders can now change the terms of your mortgage (contract) at will. So be very, very careful, and get ready. http://www.property118.com/westbromtracker-today-judgement-day/71935/
So what does the new year hold for the property market? Most property ‘experts’ are predicting UK house will increase in 2015. Not by much, but by a bit. Perhaps by around 3% or 4% on average. But I’m not totally convinced. Seems like it’s only myself and the CEBR who doubt this, though. Want…
Savills have very kindly allowed me to copy and paste this very interesting graphic, compiled in November 2014. View the full version here. Remember to scroll down and click the requires tab in the bottom right – you have the choice of ‘Prime Market’ and ‘Mainstream Market’. What does the future hold for UK house…