Property values across the country have experienced an enormous increase during the 2000s – according to the new data.
New data revealed that the property market had experienced a significant change during 2000s – with an average increase of 105% across the country. Average value of a property rose from £81,596 recorded in the last 3 months of 1999 to £167,020 in the same period of 2009. Read more…
The Financial Services Authority (FSA) has proposed new rules to protect homeowners who are in mortgage arrears. The new rules will aim to ensure borrowers are treated fairly, that repossessions are a last resort and borrowers don’t have to pay unfair charges on their arrears.
The FSA want to ensure lenders do not see mortgage arrears as an opportunity to profit from customers in unfortunate circumstances. Read more…
The UK’s private rental sector is experiencing an increase in “reluctant tenants” with research among landlords revealing that 54% believe consumers are being forced to rent rather than buy a property.
The Association of Residential Letting Agents (ARLA) believes new tenants include homeowners who sold their properties last year, either due to financial instability or a job move, are becoming “reluctant tenants” as there is a shortage of both properties for sale and affordable mortgages. Read more…
Although the quality of homes has improved a lot during the last 5 decades, houses have become less “affordable” for homebuyers compared to 50 years ago.
According to the research from Halifax, house prices have increased by 273% in real terms in the last 50 years – from an average of £2,507 in 1959 to £162,082 in 2009. Over the last 5 decades, the UK house values have (on average) increased by 2.7% a year – allowing for inflation; with the fastest growth recorded in the last decade (1999 – 2009) at a 5 % annual increase. Read more…
Despite the difficulty in securing the buy-to-let loans, property investors show interest in expanding their portfolio in the first Quarter of 2010.
Paragon Mortgages has done its latest survey based on 200 landlords and found that 10% are looking to purchase more properties to expand their investment from now until March. Read more…
Property asking prices increased by 4.1% annually in January 2010 due to the increasing demand and drop in supply within the housing market (the biggest annual rise since March last year).
Research by Rightmove – the UK number one property website – revealed an annual 4.1% increase in property asking prices in January – the biggest annual rise since March 2009; while the monthly price has increased by 0.4% to £222,261 during the five weeks to 9th January. Read more…
Survey revealed that buy-to-let investors expressed confidence in the Private Housing Sector – as there are an increasing number of professional landlords joining the market.
Statistically, buy-to-let investors enjoyed a 7.6% annual return on their investments in 2009, with the value of their properties increasing by 3% and rental income has added a further 4.6%. Read more…
