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UK Property News 11 2008

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Ireland to see property market fall 60%

Dropping from €45 billion in 2007 to just €15 billion this year, the Irish property market looks likely to finish 2008 having lost the same proportion of value as the English market.

28 Nov 2008
Ireland to see property market fall 60%
Asking prices drop phenomenal £17,000 in fortnight

Homeowners have taken a hatchet to asking prices as they chopped £17,000 off of the average asking price in just two weeks, it has been reported.

28 Nov 2008
Asking prices drop phenomenal £17,000 in fortnight
Buy-to-let mortgages straining under rental difficulties

The number of buy-to-let landlords who are now falling behind on their mortgage repayments has increased by half in just the last three months, it has been reported.

27 Nov 2008
Buy-to-let mortgages straining under rental difficulties
First-time buyers now required to deposit £20k

First-time buyers are being required to deposit £20,000 in order to secure a mortgage, it has been discovered, suggesting that confidence in the housing market is at an all-time low.

27 Nov 2008
First-time buyers now required to deposit £20k
2010 could see property market bounce back

The UK property market could once again begin to rise in value from 2010 onwards, asset management company Schroders has predicted.

27 Nov 2008
2010 could see property market bounce back
Worldwide home values drop

House prices across the world have, for the first time, recorded negative growth during this year's third quarter, it has been reported.

26 Nov 2008
Worldwide home values drop
House prices to drop by 25%, says government

The Treasury has stated in the pre-budget report that next year homeowners could see the value of their property fall by as much as a quarter, it has been reported.

26 Nov 2008
House prices to drop by 25%, says government
1 in 3 second home owners own a quarter or less of their property

One in three second homeowners in the UK are currently repaying mortgages of 75 per cent or more on their new properties, a rate which is likely to increase their exposure to market forces in the future.

25 Nov 2008
1 in 3 second home owners own a quarter or less of their property
Cancelled property purchase costs banker £500,000

Even prime property in London is now experiencing a fall in value and low sales, as one banker backed out of a sale recently despite the fact that it would cost him his £500,000 deposit.

25 Nov 2008
Cancelled property purchase costs banker £500,000
Homeowners learning of 'forced downsizing'

The National Association of Estate Agents (NAEA) has reported that the nation's homeowners are in danger of becoming subjected to 'forced downsizing', a Times report has confirmed.

22 Nov 2008
Homeowners learning of 'forced downsizing'
CML reports 12% rise in repossessions

Research from the Council of Mortgage Lenders (CML) has shown that repossessions rose by 12 per cent in the third quarter of 2008, it has been reported.

22 Nov 2008
CML reports 12% rise in repossessions
Negative equity threat to buy-to-let

About 40 per cent of buy-to-let mortgages are likely to suffer from negative equity by the middle of 2009, a report from Standard and Poor's (S&P) has predicted.

21 Nov 2008
Negative equity threat to buy-to-let
London to benefit from 50,000 new homes

London mayor Boris Johnson has announced plans to invest £5 billion into the capital's homes, in order to create 50,000 new living spaces.

21 Nov 2008
London to benefit from 50,000 new homes
British Land sees portfolio drop 11%

British Land's property portfolio had 10.8 per cent sliced from its value in the first six months of the year, the company has reported.

20 Nov 2008
British Land sees portfolio drop 11%
Housing transactions rise for second month

The National Association of Estate Agents (NAEA) has confirmed that the number of homes sold has risen for the second month running in October.

20 Nov 2008
Housing transactions rise for second month
Property in Edinburgh falls 11%

House prices in Edinburgh have fallen 11 per cent over the last 12 months, research has shown.

19 Nov 2008
Property in Edinburgh falls 11%
Glut of properties to rent drives down prices

The Royal Institution of Chartered Surveyors (Rics) Wales has published a report showing that a high number of homes going unsold are being put on the rental market, creating a dip in rental prices.

19 Nov 2008
Glut of properties to rent drives down prices
Asking prices down but still optimistic

Asking prices for homes in the UK have slipped by 7.1 per cent in the last year, figures from Rightmove have confirmed, although they are still hovering far above national property prices.

18 Nov 2008
Asking prices down but still optimistic
Top new London homes tumbling

New homes in London's most prime locations are now falling dramatically in price following a lack of demand from those working in the financial industry, it has been discovered.

18 Nov 2008
Top new London homes tumbling
London homes 'to be on the rise'

Property prices in the capital could be enjoying another rise in property prices sooner than expected if some analysts' predictions are correct.

14 Nov 2008
London homes 'to be on the rise'
Can’t sell your house, but want to move? Why not swap it?

Lion Television are working on an exciting new BBC1 property daytime pilot/show House Swap.

14 Nov 2008
Can’t sell your house, but want to move?  Why not swap it?
Appropriate prices 'vital' in London

It is crucial that home-sellers in London price their properties appropriately if they are to have any joy in the current market.

14 Nov 2008
Appropriate prices 'vital' in London
Repossessions 'in nobody's interest'

It is in nobody's interest for mortgage lenders to repossess properties in the current market.

14 Nov 2008
Repossessions 'in nobody's interest'
Houseladder release Estate and Letting Agents property feed

Houseladder have just released a new part to their website to allow estate and letting agents to upload their properties to Houseladder. This will allow an agent to include their property listings absolutely free.

13 Nov 2008
Houseladder release Estate and Letting Agents property feed
Tracker mortgage homeowners in for 'big shock'

A number of homeowners could be stung by rises in their monthly repayments when their tracker mortgages expire.

13 Nov 2008
Tracker mortgage homeowners in for 'big shock'
Lower rates 'attracting' buyers back to market

Last week's significant interest rate cut, the recent stamp duty revisions and falling property prices will conspire to attract more buyers back to the property market.

13 Nov 2008
Lower rates 'attracting' buyers back to market
Listed properties present 'some advantages' to owners

Living in a listed building can present challenges to homeowners but there are also "some advantages".

12 Nov 2008
Listed properties present 'some advantages' to owners
Stamp duty avoided by 50% of borrowers in September

The number of homebuyers who avoided paying stamp duty in September this year rose sharply, new findings have revealed.

12 Nov 2008
Stamp duty avoided by 50% of borrowers in September
House sales continue to fall

The number of properties sold in October continued to fall, a new report has revealed.

11 Nov 2008
House sales continue to fall
'Inflexible' contracts have caused commercial property problems

A lack of manoeuvrability in commercial property contracts has helped to create a number of problems for the industry.

11 Nov 2008
'Inflexible' contracts have caused commercial property problems
Expert opinion important when considering a loft conversion

Homeowners who are thinking about converting their loft should seek the advice of a professional beforehand.

10 Nov 2008
Expert opinion important when considering a loft conversion
Housing market has benefits for those who are 'moving up'

The state of the housing market is such that now is a "very good time" for people who are looking for a new property.

10 Nov 2008
Housing market has benefits for those who are 'moving up'
Landlords 'will struggle' in cities

The market for city centre apartments in the UK's largest towns is "effectively … dead", it has been claimed.

07 Nov 2008
Landlords 'will struggle' in cities
Interest rates slashed to just 3%

The Bank of England has reduced interest rates by a massive 1.5 per cent to a 54-year low.

07 Nov 2008
Interest rates slashed to just 3%
Housing is a 'buyers market'

The current UK property market represents a golden opportunity to investors that can "buy well" and "negotiate hard", it has been suggested.

06 Nov 2008
Housing is a 'buyers market'
Second home waiting lists 'lengthening'

The top locations for second homes have seen a 66 per cent rise in housing waiting lists this year, new research reveals.

06 Nov 2008
Second home waiting lists 'lengthening'
Mortgage lenders 'failing to pass on rate cut'

More than 30 mortgage lenders have yet to pass on last month's 0.5 per cent base rate cut to their mortgage customers.

05 Nov 2008
Mortgage lenders 'failing to pass on rate cut'
Eco-measures 'help negate' utilities hikes

Gas and electricity prices are rising, but eco-friendly measures can help improve energy efficiency and save householders' money.

05 Nov 2008
Eco-measures 'help negate' utilities hikes
Property 'undermined as investment choice'

People no longer trust property as the best investment for their future, new research has revealed.

04 Nov 2008
Property 'undermined as investment choice'
House building sector witnessing 'challenging' time

The current conditions in the construction industry are "extremely challenging", according to one expert.

04 Nov 2008
House building sector witnessing 'challenging' time
Bank calls for 'reduced tax' on empty homes

The government has been called upon to reduce the amount of tax paid for renovating empty homes.

03 Nov 2008
Bank calls for 'reduced tax' on empty homes
Quick house sales 'still possible'

Competitively priced properties can still be sold quickly, a housing market expert has claimed.

03 Nov 2008
Quick house sales 'still possible'




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