Two million more people on property ladder
Prime Minister Gordon Brown claims that there are two million more people on the property ladder as a direct result of what the Labour government have achieved. However worries about debt levels were dismissed as he believes that this just proves that more people are able to afford to buy their own homes.
He went onto [...]
Is the property market about to crash?
There are many verbal battles going on at the moment between those who feel that a crash is imminent and those who believe that the property market is strong. One thing is for sure, they both cannot be right!
But the signs are there. There is an increase in “buy to let” owners trying to sell [...]
Council hires spy plane
Haringey Council in London, are spending council tax payers money on hiring a military type aircraft, this will be used to fly over the borough on a mission to detect those households who are wasting energy!
The plane that is fitted out with thermal imaging equipment will fly over the area seventeen times taking pictures of [...]
Morrisons halt £1 billion property deal
A billion pound property deal for supermarket chain Morrisons has been put on hold; this has been put down the current financial markets position, of lending and probably interest rates too.
The company had been working on the final stages of the deal when the decision was made. This is not the first property deal to [...]
Estate agents on the way out?
Lets be honest here, estate agents are never really at the top of anyone’s Christmas card list, and this could be for various reasons. So the fact that estate agents could be on the way out will mean that not many tears would be shed for them.
So why is this? Well there was a time [...]
Buy to Let threatens property market
After the problems in the states with their sub prime mortgages, the humble buy to let speculator in the UK is now being compared to the sub prime mortgages and some experts believe that the same thing may happen here in the UK.
The typical buy to let speculator buys property on a mortgage and is [...]
Pensions crisis for young homeowners
The desire to get a foot onto the property ladder could leave pensions falling short. The costs associated with buying property are said to be taking up such a chunk of the mortgage payers income that there is little over for them to even start to think about paying into a pension scheme.
There has been [...]
Northern Rock gets emergency support
One of the largest mortgage lenders in the UK has had to go to the Bank of England for emergency financial support.
This does not mean that the bank is in any financial trouble or that the bank is going to go bust. What it does show is the effect that the mortgage crisis in the [...]
UK property rental prices on the rise
According to the Royal Institution of Chartered Surveyors. As a result of the first time buyers struggle to get onto the property ladder, they would appear to have been looking towards the rental market in order to set up their new homes. This trend has in turn created a demand for quality rented accommodation, and [...]
September 11, 2007Home information packs (HIP) extended
The idea has been very controversial yet the government has gone ahead with the Home Information Packs, which are supposed to speed up the house buying process. Last month all houses with four or more bedrooms had to provide a pack for buyers and now the scheme has been extended to cover all three bedroom [...]
September 7, 2007Regional property price differences
The most expensive areas in the UK are almost ten times as expensive as the cheapest areas in the UK, which just goes to show that the gulf between the wealthiest and poorest areas is getting wider.
The most expensive and probably the most exclusive area in the UK is probably no surprise, the Royal Borough [...]
The property ladder gets longer
Its getting harder for first time buyers to even get a single foot on the bottom run of the property ladder these days. With buyers in the south of England suffering the most, because it is estimated that they require at least a years earnings in savings to be able to afford the deposit.
In 1996 [...]
New way of selling property
A company based in Swansea, Wales, iCreate has developed a new system, which will be an innovative way of marketing property off plan for developers.
What property developers will be able to do is offer buyers the opportunity to take a virtual tour and even watch video via the mobile phone network. This could give property [...]
Property repossessions rise
There has been a rise of 32% in the amount of properties being put up for auction in the second quarter of 2007. This increase is due to the amount of repossessions that are taking place as interest rates begin to bite making it very difficult for some people to keep up the mortgage payments.
In [...]