Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it
Good news for Buy to Let as Tenant demand continues to grow |
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Wednesday, 21 July 2010 08:37 |
Nearly three times as many landlords reported that tenant demand was rising rather than falling during the second quarter of the year, Paragon Mortgages' PRS Trends Report has revealed. The quarterly snapshot of the private rented sector and buy-to-let market shows that 29 per cent of landlords recorded growing levels of tenant demand during the period, compared to 10 per cent who said it was falling.
Both of these measurables increased compared to the first quarter of the year, when 24 per cent of landlords reported growing tenant demand and eight per cent reported falling levels of demand. Tenant demand was stable for the majority of landlords during the second quarter (54 per cent), whilst seven per cent said they were unsure which direction demand was heading.
Looking forward, landlords expect tenant demand to strengthen considerably. Over a third of landlords (35 per cent) expect demand to be higher in 12 months' time, with eight per cent forecasting a decline. |
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Read more... [Good news for Buy to Let as Tenant demand continues to grow]
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Tuesday, 20 July 2010 08:51 |
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Asking prices for property declined by 0.6% on average in July (£236,332), following a 0.3% rise in June (£237,767), according to property website Rightmove. This is the first month in 2010 that new sellers have dropped their asking prices. The trend looks set to continue with gains of 7% in 2010 so far expected to be entirely eroded by the end of the year, with new sellers outstripping new mortgage approvals by a ratio of 5:2. Figures show that over 30,000 properties are coming to the market each week, up by 45% on July of last year. Miles Shipside, commercial director of Rightmove, said that sellers are going to have to price at bargain levels and heavily promote their homes to secure a sale |
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Abolishment of HIPS ups supply |
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Wednesday, 16 June 2010 11:25 |
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The coalition Government's decision to scrap Home Information Packs has helped boost supply in the housing market, although prices still rose last month. The Royal Institution of Chartered Surveyors (RICS) said that the Government's decision has already made an impact, as supply increased during May. Some 21% more chartered surveyors reported new instructions in May, up from 11% in April. However, this upturn in housing supply could not stunt rising house prices, as 22% more chartered surveyors reported a rise rather than a fall in house prices, up from 19% in April. "Surveyors are generally more confident that sales will continue to pick up over the coming months," said RICS spokesperson, Ian Perry |
Time ripe for First Time Buyers |
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Tuesday, 15 June 2010 08:45 |
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The time could be ripe for first time buyers to make their first steps onto the property ladder, research conducted by Santander has found. Figures show that average monthly rental prices are now higher than average mortgage repayments in every part of the country other than London. The average monthly rent in the UK (outside London) is £420, compared with average monthly repayments of £334 for first time buyers. Buyers could save an average of £1,040 a year with a mortgage. Phil Cliff, director of mortgage marketing at Santander, said: "The first few months of 2010 have seen rents start to climb which has meant that savings to be made for potential first time buyers have grown considerably." |
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