October 31, 2007

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First-time buyers may be a thing of the past

Permalink: First-time buyers may be a thing of the past
by Kay Murchie

Britain’s first time buyers are facing extinction as the next generation of home owners face a lifetime of renting and according to the latest YouGov poll, this is a concern for over 80% of the population. An increasing amount ...

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First-time buyers ‘desperate’

Permalink: First-time buyers ‘desperate’
by Kay Murchie

Many young first-time buyers are so desperate to get on to the property ladder that they are clubbing together with siblings, friends and even strangers to increase their chances of purchasing a house. According to a study by Skipton Building Society, many of these buyers ...

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Spanish homes face demolition

Permalink: Spanish homes face demolition
by Kay Murchie

Hundreds of miles of illegally built houses face demolition in Spain with many of them belonging to British owners. The illegally built developments are on 480 miles of Mediterranean coast from Barcelona in the north to Marbella in the south, including the Balearic ...

October 30, 2007

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Million pound homes in the South-East being bought by foreigners

Permalink: Million pound homes in the South-East being bought by foreigners
by Kay Murchie

According to research by Knight Frank, the estate agents, nearly 50% of all country homes in the south east of England valued at £5 million or more are being purchased by foreigners. In the 12 months to ...

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Many face ruin from buy-to-let

Permalink: Many face ruin from buy-to-let
by Kay Murchie

Many people have been left disappointed by the buy-to-let market lately. Many have been tempted over the last few years by increasing property prices and the convenience of mortgages custom-made for buy-to-let investors. In a buoyant market, many see buy-to-let as a get-rich-quick-scheme. ...

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Property prices decline for first time in 2 years

Permalink: Property prices decline for first time in 2 years
by Kay Murchie

According to a survey by the property research specialist, Hometrack, property prices declined in the UK for the first time in 2 years this month. The average cost of a home in England and Wales fell 0.1% to £176,100 ...

October 29, 2007

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Newcastle beats London in buy-to-let

Permalink: Newcastle beats London in buy-to-let
by Kay Murchie

A survey of 121 postal areas by The Mortgage Works established that Newcastle-upon-Tyne led the way with 3,545 buy-to-let deals in the second quarter of 2007. East central London was second with 2,676, while Birmingham was third with 2,167. Most would expect ...

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Property prices rise in Wales while they fall in remainder of UK

Permalink: Property prices rise in Wales while they fall in remainder of UK
by Kay Murchie

According to Land Registry information published in the last few days, property prices in Wales rose slightly while a decline was noted across the rest of the UK. The figures showed that the annual price increase ...

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Government should build more homes to solve shortage

Permalink: Government should build more homes to solve shortage
by Kay Murchie

The National Housing and Planning Advice Unit (NHPAU) said by 2016 the country would need 270,000 new homes a year, rather than the Government’s current 240,000 target. The NHPAU is an independent body set up to advise the Government and ...

October 26, 2007

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Significant price falls in new apartments

Permalink: Significant price falls in new apartments
by Kay Murchie

According to the BBC TV show, The Truth About Property, considerable price falls in some new build apartments in Birmingham, Leeds and Manchester are being observed. Buyers of some flats are losing money when they sell. One owner in a block of ...

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Mortgage approvals down in September

Permalink: Mortgage approvals down in September
by Kay Murchie

According to the British Bankers’ Association, the number of new mortgage approvals for house purchase fell by 27% last month to 52,685 from 72,155 compared with the same month last year. The BBA said mortgage lending was the lowest since September 2000 and ...

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Property prices in Brighton continue to rise

Permalink: Property prices in Brighton continue to rise
by Kay Murchie

Prices in Brighton have soared by 16% in the last year, as the city’s status as a London commuter hotspot continues, according to information released by estate agent Hamptons International. A spokesperson for Hamptons said good schools, bars, shops, restaurants and ...

October 25, 2007

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Property has increased 100 times in value in 50 years

Permalink: Property has increased 100 times in value in 50 years
by Kay Murchie

Research carried out by Home & Capital, the equity release provider, has established that since 1957, property has risen over 100 times in value. Figures from the Halifax show that the average UK property now costs £198,500. However, ...

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Homeowners do not understand impact of increasing interest rates

Permalink: Homeowners do not understand impact of increasing interest rates
by Kay Murchie

According to the recent Personal Credit Index survey from CreditExpert.co.uk, the online credit report monitoring service from Experian, mortgage holders are clueless when it comes to the financial impact of increasing interest rates. The survey said that 70% of ...

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Investigation into the condition of the property market

Permalink: Investigation into the condition of the property market
by Kay Murchie

A major investigation is to take place into the state of the property market. The Office of Fair Trading (OFT) has commissioned Marketing Sciences, a market research company, to conduct the interviews and quiz 1000 buyers of new properties. Buyers ...

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Housing market vulnerable according to BoE expert

Permalink: Housing market vulnerable according to BoE expert
by Kay Murchie

According to Kate Barker, the Bank of England housing guru, increasing property prices have left the UK in danger of a considerable property downturn. Ms Barker said property prices have increased beyond a reasonably expected level which will result in ...

October 24, 2007

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Maidenhead tipped as property hotspot

Permalink: Maidenhead tipped as property hotspot
by Kay Murchie

Work on the Crossrail scheme is scheduled to commence next year and scheduled for completion in 2017. Trains will run from Maidenhead, via Heathrow, the West End and the City to Canary Wharf and beyond. The east-west route will improve journey times for ...

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London tops European cities for property investment

Permalink: London tops European cities for property investment
by Kay Murchie

The European Regional Economic Growth Index, compiled by LaSalle Investment Management, has identified London as the best city in Europe for property investment beating 90 other cities. When comparing the European cities, economic growth, overall wealth and the relative attractiveness of ...

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Higher mortgage repayments are squeezing families

Permalink: Higher mortgage repayments are squeezing families
by Kay Murchie

According to the Alliance & Leicester, higher mortgage repayments due to the 5 interest rate hikes since August 2006, means that UK families are feeling the pinch. The latest Borrowing Monitor has established that Britons are cutting down on credit card spending ...

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Sale-and-rent-back schemes must be regulated

Permalink: Sale-and-rent-back schemes must be regulated
by Kay Murchie

Sale-and-rent-back companies have been featured recently on programmes such as ITV1’s Tonight with Trevor McDonald and BBC1’s Watchdog. The Council of Mortgage Lenders (CML), Shelter, the homeless charity and the Citizens Advice Bureau are urging Kitty Usher, the Government’s Economic Secretary, to ...