Tag: uk
What Happens along the way when prices fall
In the UK the house prices is closely linked to economic performance. Studies (OECD) have shown that between 1971-2002 that a 1% change in values of British house stock led to a 0.7% change in consumer spending. In other parts of the world a strong economy creates higher house prices via rising and falling unemployment. [...]
Massive Drop in London House prices
LONDON — Estate agents are selling less than one property a week as a lack of mortgage finance hits the number of people moving house, fuelling plummeting prices, a surveyors’ body said on Tuesday. The Royal Institution of Chartered Surveyors (RICS) said its members sold an average of 11.5 homes during the three months to [...]
Owning Property in London
Key property deals in the City of London are falling through as funding dries up due to the worldwide credit crunch.Sellers are struggling to complete deals as liquidity in the banking sector has virtually dried up. Values are also falling. German fund manager SEB has pulled out of buying ING Real Estate’s 88 Wood Street [...]
Mortage Customers Relief After Repayment Cost Fell From 4-5%
Mortgage customers breathed a sigh of relief today as the cost of their repayments fell following the Bank of England’s decision to cut interest rates from five to four-and-a-half per cent. The news came as a pleasant surprise to UK property owners, many of whom weren’t expecting a decision until tomorrow. The Bank Of [...]
London Housing Prices Continues To Drop
Hidden among the national figures for house prices, which are showing falls of around 12% over the past year, there are huge regional differences. With volumes low the sale of a few expensive properties at knock-down prices can seriously distort the figures. In the last housing slump of the early 90s anyone who didn’t have to sell just [...]
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