Housing market figures still weak
Published on July 30, 2010 | Author: kayleigh
Filed Under Housing Market News | Leave a Comment
Sell your house now
Evidence continued to mount surrounding the weakness of the UK’s housing market. Figures released yesterday have shown a “sharper-than-expected drop in mortgage approval and a fall in residential property prices”. According to Nationwide the average house price fell by a seasonally adjusted 0.5% month-on-month in July, Halifax have also report the same month-on-month falls. The UK did however show signs of renewed weakness even before the vast bulk of swingeing cuts in public spending. The “Housing market activity is currently low, the economic fundamentals are far from ideal for the housing market, notably high unemployment, repossession and muted wage growth, a major fiscal squeeze is getting under way, and house price to earnings ratios have moved up overall from their early-2009 lows and are above their long-term averages. On top of this, credit conditions remain tight with mortgages still hard to get for many people.”
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Housing market doldrums will last till 2014
Published on July 30, 2010 | Author: kayleigh
Filed Under Housing Market News | Leave a Comment
Don’t get left behind sell your property today
CB Richard Ellis has said “that it will be 2014 before the UK’s housing market would fully recover”. Further predictions will see the London area out performing other regions of the UK with a house price growth of 8.6%. Compared with other regions such as Wales, midlands, North West and Yorkshire being the hardest hit areas, while Northern Ireland will fare worst with falls of -4.5%. Despite house prices have increased since February and have led to an increase in consumer confidence the £113 billion fiscal tightening programme has outlined a high risk of unemployment and a decrease in the average household income, resulting in further hits to the housing market. Property experts believe that the “The UK will not experience a fully fledged recovery until 2014 and it is unlikely that house prices will reach the highs seen at the peak of the market until atleast 2015 or even 2016”.
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House prices fall for the first time since February
Published on July 30, 2010 | Author: bex
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Don’t let further falls in house prices affect your house sale
House prices fell this month for the first time since February, as demand subdued due to the reluctance of UK homebuyers. Recent figures from Nationwide have shown that the average house price fell to £169,347 from £170,111 last month. ”So far in 2010 demand from homebuyers has made little progress in building upon the recovery seen during much of 2009,” said Martin Gahbauer, Nationwide’s chief economist. “Despite the introduction of a second stamp-duty holiday for the vast majority of first-time buyers and record low interest rates, the number of properties changing hands across the UK is still running at only half the levels seen prior to the financial crisis and recession.” Gahbauer said a combination of restrictive credit conditions and uncertainty about the future economic outlook means only wealthier buyers remain in the market. The outlook remained bleak for homeowners.
Don’t let the recent decrease in house prices prevent you from selling your home. Call our experienced team at Quick Cash For Properties today on 0800 933 6137.
British banks approve fewer mortgages than originally forecasted
Published on July 30, 2010 | Author: bex
Filed Under Housing Market News | Leave a Comment
Are you struggling to remortgage?
June has been a tough month for the mortgage market, it has been calculated that on average few mortgages have been approved from what was originally predicted. This has been the result of tighter lending conditions spurned from further weakened confidence with the housing markets supposed recovery. The Bank of England today has released disappointing agreed lender figures showing a decrease compared with May’s figures. The U.K’s housing recover is grinding to a halt as consumers brace themselves for the government’s budget squeeze to reduce the countries debt. New evidence from today’s Nationwide reports has confirmed that the housing market’s recovery is fading fast as government policy makers debate the timing of interest-rates.
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Homeowners In Danger Of Negative Equity And Repossession
Published on July 28, 2010 | Author: sona
Filed Under Repossession | Leave a Comment
Quick Cash For Properties can help you today
The property market predictions are not very ‘homeowner-friendly’. Today’s news revealed that if prices to continue to fall drastically, we could see the property value dropping by £42,000. Homeowners, who bought during the period of higher prices back in 2006 and 2007, as well as those who bought this year, could be in danger of negative equity and repossession. With increasing unemployment to come, more people are said to be struggling with mortgage repayments and monthly bills in general. Quick Cash For Properties has years of specialist experience in helping people to avoid repossession through a quick house sale.
If you’re facing eviction from your home, call a member of our homebuying team on 0800 933 6137 today.
House Prices To Be At The ‘2003’ Level By 2015
Published on July 28, 2010 | Author: zoe
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Is your property sale in danger?
According to latest reports from The National Institute of Economic Research (NIESR), the house prices are set to fall by 8% over the next 5 years, if we take into account inflation. Property prices are predicted to be at the same level as back in 2003 by 2015. The NIESR report said: ‘While we have assumed the housing market remains stable, there remains the risk that house prices in the UK could decline at a more rapid pace’.
On the other side, Report by Capital Economics claims that house prices could dive up to a quarter within less than 2 years. The value of homes is to decrease by 5% by the end of 2010, another 10% in 2011 and further 10% in 2012. There also is a big chance that properties will be valued at the lower prices in 2020 than they were in 2007.
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Brits Expect The Property Market To Remain The Same
Published on July 27, 2010 | Author: savannah
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What’s your opinion?
A research conducted by Rightmove.co.uk shows that 75% out of the 20,000 perspective homebuyers believe that the property market will stay the same or get better between now and summer 2011. This has been reported despite the fact that sellers already began dropping the asking price. On the other hand, Rightmove.co.uk also reported a 9% decrease in people who are being positive about the future of Britain’s property market.
Miles Shipside, who is the commercial director of the Rightmove.co.uk thought, that 9% was a drastic change to this figure.
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More British Females In Danger Of Insolvency
Published on July 27, 2010 | Author: kieran
Filed Under UK Debt | Leave a Comment
Are you one of them?
It has been reported that the number of women in the UK, who are in financial crisis is on the rise. The figures by the Insolvency Services show that the number of women who became bankrupt has seen a 12% increase in the past year. Women aged between 25-44 represent the majority of the female category affected. According to Graham Horne, deputy chief executive of the Insolvency Service said: ‘These figures show that more and more young women have levels of debt incurred through trying to maintain lifestyles that are unsustainable’. This is just a simple example how you can get into debt yourself.
If you find yourself in a situation where your debt does out of control, Quick Cash For Properties may have the right solution for you. Call our property specialist on 0800 933 6137 and see how we can help you today.
Properties Up For Sale On Hold
Published on July 26, 2010 | Author: melvin
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Do you need to sell your house now?
According to BBA’s (British Bankers’ Association) figures, the number of homebuyers fell and will continue to shrink as a result of strict mortgage deposit criteria. Mortgage affordability is becoming rarer than ever, which is causing more inconveniences to homebuyers trying to buy their own home. Home sellers are becoming more frustrated as a lack of homebuyers is causing house prices to drop. With more spending cuts to come, it is set to become impossible for first time buyers especially, to save up a deposit for their first home, especially with unemployment rising and taxes increasing. It will be hard to get on the property ladder with a tighter pocket.
If you urgently need to sell your house, call Quick Cash For Properties on 0800 933 6137 for a no obligation cash quote.
Low Confidence In Housing Market And House Prices
Published on July 26, 2010 | Author: savannah
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What is your situation?
Hometrack, Rightmove, Halifax and Nationwide all continue to bring negative news with regards to Britain’s housing market. According to today’s report, both house prices and consumer confidence are falling drastically. Hometrack’s data showed that the biggest factor in the market’s reversal was a notable 1.3% fall in demand for housing over the month on June. The abolition of Home Information Packs, resulted in properties become harder to sell with the average time of nearly 9 weeks to sell and the asking price decreasing.
“The fall in prices marks a turning point for the market following 12 months characterized by a lack of homes for sale and resurgence in demand, primarily for family housing in southern England,” said Richard Donnell of Hometrack. “Further modest price falls are inevitable over the second half of the year as the volume of homes for sale continues to rise and demand remains weak on the back of concerns over the wider economic outlook and uncertainty over the impact of recently announced cuts in government spending.”
If you can’t sell your house, call our specialist home buyers here at Quick Cash For Properties. Let us help you sell your house fast and stress-free. Call 0800 933 6137 today.
