Property market news
Home rentals “up by 20%”
The number of people renting a home has soared by nearly 20% during the past three months as the housing market turmoil puts people off buying a property, a survey showed today. Around 64% of letting agents outside of London said demand for rental property outstripped the number of homes they had on their books, [...]
Price of auctioned homes falls 25% in a year
Desperate sellers forced to accept sizeable cuts but buyers with deposits are snapping up bargains. The price of houses sold at auction has fallen by almost a quarter during the past year, according to figures highlighted by the Liberal Democrats. The average price of the 3,993 houses sold by auction between June and August this [...]
What does Lehman Brothers fall mean to you?
The collapse of Lehman Brothers has rocked the financial world, but what does a US investment bank’s fall mean for UK consumers Will British consumers be hit by the Lehman Brothers collapse? Lehman Brothers is an investment bank, so people do not have Lehman Brothers savings accounts, mortgages or pensions. The vast majority of UK [...]
Housebuilding drop may help rental market
The number of new homes built is set to go on falling, it has been predicted.Construction firms will build increasingly less homes as the residential buying markets continues to be hit by the credit crunch, the House Builders Association has forecast, with the number of new residences being completed numbering only 110,000 this year and [...]
Less than 100,000 homes to be built this year, say builders
The number of new homes constructed is set to fall dramatically this year, as housebuilders react to slowing demand for property.According to senior housebuilders quoted in a report from the Observer, just 100,000 homes will be completed in 2008. This compares with a figure of 170,000 for 2007 and is the lowest number of newbuilds [...]
