Posts Tagged ‘fast house sale’

Sell Your Own Home On The Open Market – If You’re Lucky

Wednesday, July 28th, 2010

Following on from last weeks post about the fall in house prices being good news for the economy, more industry analysts are in agreement that the drop will do us all some good. Although there are some commentators who believe that David Cameron’s social housing proposals could increase insecurity felt by the most vulnerable people and destabilise communities.

The truth of the situation will vary depending on income brackets and geographical position with those comfortable and wealthy individuals not feeling the impct as much as those on low to medium incomes. Trying to sell your own home right now is tough and lower prices may help but as long as borrowing requirements are so strict and deposit-dependant, the open market will be a hostile place to do business.

Repossession And Retail Prices – Both And More Affected By House Prices

Monday, July 26th, 2010

Just a quickie, if you’ve ever wondered how the economy is affected by house prices and what knock on effects they have on other elements such as repossession, exchange rates and retail prices, then check out this article…

A Fast House Sale May Have To Wait, But If You’re Buying…

Friday, July 23rd, 2010

If you’re fretting about the state of the housing market, don’t, because Britain’s largest residential landlord Grainger said on Wednesday it remained bullish about opportunities to buy real estate at great prices. OK, so if you’re selling this aint great news and the open market may not be the best place to get a fast house sale but if you’re buying.

Grainger has around £2.8 billion of property on it’s books and is trading well despite the gloomy market with almost £70 million of purchases planned and £154.8 million of sales in process. Despite the knock in confidence for the market place as a result of the RICS survey, the volume of property coming to market increased at its fastest pace since May 2007.

Conveyancing Solicitors Or Lenders Or Whoever, When It Comes To House Price Reports: It’s A Finger In The Wind Jobbie

Wednesday, July 21st, 2010

We, like you, know that every few weeks, month or quarter there are new and conflicting house price reports out from estate agents, lenders, conveyancing solicitors and institutions. One will say prices are up, the other static and another down, leaving you to choose which way you think the market is heading. The latest report is from the Royal Institute of Chartered Surveyers (RICS) who say for the first time in a while, house prices are actually dropping.

This has, of course, made the news channels, press and media sit up and comment on what this means for the economy, raising the rather obvious question of the double dip recession. But not everyone in the info game thinks dropping prices are bad news, Tracy Corrigan of the Daily Telegraph has written a great article on why it could be just what the country needs, check it out here…

Trying To Sell Property In This Market? Check Out This Retro Pad

Friday, July 16th, 2010

If you’re trying to sell property without much luck, image how the owners of the oldest house in Britain feel when the the best you can say about it is that ‘it’s a fixer upper’. Of course, we’re talking about the remains of the oldest house ever found in Britain which was discovered by archeological experts this week.

Evidence of the 10,500 year old, 12ft wide dwelling was unearthed at Star Carr, North Yorks and is thought to have been lived in by  huntergatherers, for more on the fascinating find, check out the full story…

If You Want To Sell Property Then It’s A Good Time To Do So

Wednesday, July 7th, 2010

Have a guess what the total value of privately owned homes in the UK is, go on have a think and pick a figure. Got it? OK, research conducted by Halifax (you’ve skipped this and looked at the number haven’t you), were you close? £3.755 Trillion, which is, a lot and more than double what the housing stock was worth just ten years ago.

Sitting at £1.719trn in 1999, the increase of more than £2trn in property value is equivalent to £33,000 per person in the UK, but as would be expected the value of the nation’s housing stock has fallen by 8% in the last 3 years, reflecting the reduction in those able to sell property and the drop in house prices. The research also revealed that the north-south gap is narrowing with the value of housing in the north increasing by 132% compared to 109% in the south over the decade.

Sale And Rent Back Company Goes Into Administration

Monday, July 5th, 2010

A Didsbury based sale and rent back company has gone into administration leaving many tenants with the possibility of losing vast sums of money. Administrators Baker Tilly said that tenants could rent as normal but they did not want to give tenants “false hope” about the likelyhood of them getting their 30% payback.

UK Housing Alliance (North West) Ltd, bought properties off of 375 homeowners who then rented the property back, the deal was  70% of the price up front and the remaining 30% after renting for 10 years. But after only 4 years in business, the firm has gone bust leaving some tenants possibly out of pocket to the tune of £40,000.

Latest House Prices Survey Puts Inflation In Double Digits

Monday, June 28th, 2010

After blogging last week about the variety of results that the housing market surveys produce, this week it’s the turn of the Government to tell us how house prices are doing and according to their figures prices are rising at their fastest rate since the autumn of 2007.

Annual house price inflation has reached as the Department for Communities and Local Government (DCLG) said prices in April were 10.1% higher than a year ago. The figures also show that UK house prices rose by another 0.4% in April alone, putting the average UK property at just over £207,000. Despite the rise in prices, the number of loans granted to home buyers fell by 9% in April to 40,000, if you believe this survey that is.

How To Buy A House (In These 20% Times)

Friday, June 25th, 2010

At a time when houses are very affordable and mortgage deposits are so high, first time buyers (FTBs) are facing a veritable lock-out unless they can find 15% – 30% of the property value. So, how do you buy a house at a time like this? Well, maybe this can help…

Mortgage Lending Remains Low, Post Budget

Wednesday, June 23rd, 2010

The Council of Mortgage Lenders (CML) has said UK mortgage lending remains subdued after the budget announcement last week. Despite the lack of noticable growth, the number of new home loans rose by 7% in month on month in May to £11.3bn.

The reasons for the stuttering mortgage market can be blamed on higher taxes and public spending cuts said the CML, commenting on the situation CML economist Paul Samter said: “The market will inevitably be affected by how policy impacts on the wider economy – particularly on household finances and confidence.” Whether the market will pick up will depend on whether lenders relax their restrictions on deposits from first time buyers, unlikely for some time.