The Office of National Statistics has reported that the value of UK housing is now £3,575 billion. This figure represents 59% of the nation's total wealth, and is up 4% on the year before. As many economic observers have already commented, housing's rise has led to a huge increase in personal wellbeing. The downside is that a small rise in interest rates could have a major impact on overall economic activity.
To read the Financial Times take on the subject click on the post title.
24 July 2006
19 July 2006
Adverse credit mortgages
Having seen what's been happening in the wider property, I've just written a post on the pay per click advertising market for adverse credit mortgages. This is a relatviely new and highly specilised category within the UK mortgage market. Top bids today, are approaching £12 per click. To read the post, click on the post title above.
18 July 2006
North vs. South property divide widens
An article in today's Financial Times reveals the gap between property prices in the north and the south of England continues to widen. The article is based on a report by the Royal Institute of Chartered Surveyors - RICS.
London property prices showed their biggest monthly gain for 6 years. In the year to June 2006, London properties showed a price rise almost twice the UK average of 5.6%. In Scotland, the North, the West and East Anglia property prices were almost static.
Ian Perry of RICS, describes London as a property rich "city state". To read the full Financial Times article, click on the post title.
London property prices showed their biggest monthly gain for 6 years. In the year to June 2006, London properties showed a price rise almost twice the UK average of 5.6%. In Scotland, the North, the West and East Anglia property prices were almost static.
Ian Perry of RICS, describes London as a property rich "city state". To read the full Financial Times article, click on the post title.
17 July 2006
House prices in steep rise
According to a report in today's Daily Telegraph, June saw a major jump in UK house prices. The Telegraph report is based on figures from property website RightMove. RightMove recorded average asking prices rising by £6,000 per house against the month before. The increase in the south of the country was even higher, with average prices rising by £12,000.
To read the full report, click on the post title.
To read the full report, click on the post title.
14 July 2006
Eurotunnel refinancing stalemate
The refinancing deal to save Eurotunnel appears to have reached stalemate. Representatives of various debt holders cannot agree on who gets what share of the resturctured business.
The company's boss Jacques Gounon has claimed that the business has a value of £4 billion. However outstanding debt is £6.2 billion. Something has to give. Meanwhile Gounon is asking the French courts for Chapter 11 style protection.
Read more in the Daily Telegraph by clicking the post title.
The company's boss Jacques Gounon has claimed that the business has a value of £4 billion. However outstanding debt is £6.2 billion. Something has to give. Meanwhile Gounon is asking the French courts for Chapter 11 style protection.
Read more in the Daily Telegraph by clicking the post title.
11 July 2006
Buy to let mortgage market 10 years old
The Financial Times carries a report on the buy to let mortgage market. Apparently the market for specific buy to let mortgages got underway in 1996.
For many years the mortgage market had been highly regulated. Lenders were conservative and buy to let was perceived to be a high risk form of lending. In the event, with properties rising in price, the risks to date have been minimal.
To read the article, click on the post title.
For many years the mortgage market had been highly regulated. Lenders were conservative and buy to let was perceived to be a high risk form of lending. In the event, with properties rising in price, the risks to date have been minimal.
To read the article, click on the post title.
10 July 2006
UK online housing market
I have just taken a look at the online search market for house sales.
Two terms stick out.
1. Sell my house. This has 110 thousand searches each month.
2. House for sale. This has 137 thousand searches each month.
The question is how viable is a search site that focuses exclusively on the value of advertising houses online?
Two terms stick out.
1. Sell my house. This has 110 thousand searches each month.
2. House for sale. This has 137 thousand searches each month.
The question is how viable is a search site that focuses exclusively on the value of advertising houses online?
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