Rightmove, which is one of the biggest online property site in the UK, has said that the housing prices are expected to rise at a faster rate than expected.
The website that advertises thousands of properties across the UK has increased its forecast for annual house price inflation from 4.5 per cent to 6 per cent expecting an active autumn season in the country. The report backs concerns expressed by Business Secretary Vince Cable that the country might be headed towards a property bubble.
Heath Hall, the most expensive home for sale in Britain, has become cheaper by a whopping £35 million, but it still costs £65 million.
Property tycoon Andreas Panayiotou, the owner of the 14-bedroom Heath Hall mansion, had put it on the market in the year 2011 with a guide price of £100 million.
But a lack of interest in the mansion forced Mr. Panayiotou to drop the asking price to a more realistic £65 million.
The price cut is enough to purchase a 6-bedroom Georgian terrace in up-market Belgravia or as many as 215 "average" homes in the country that cost £162,000 each.
Buying a house in Scotland is now cheaper than renting a property, according to a fresh report by economists at the Bank of Scotland (BoS).
The report says that falling prices of residential property in Scotland has made buying a home more affordable than renting. As per the economists' estimate, a person who buys a three-bedroom house in Scotland would be more than £400 per year better off than those who rent a similar property.
Rightmove, the British property website which is also the largest in the country, has entered into an agreement with BT to check out the potential Internet speed of the millions of homes. These are the ones that are listed on the website at one time.
The report first came out in the Telegraph, but the company has denied that it has entered into o any such agreement with the BT or any other telecos. But, Telegraph has claimed that a source told them that Rightmove is going to add potential ADSL speeds.
Yesterday, the British Bankers’ Association (BBA) has unveiled that the fall in mortgage lending in Britain was found constant during January.
In this month, the approval of the mortgage for house purchases was fixed at 28,932. There was a slight difference from December’s figure. In the month of December it was recorded 28,907. It has touched to its all time low since
last two years.
There has been an increase in the property prices in China although there was an intensified campaign led by the government.
The housing inflation has gone up in the month of January and on Friday official data has been revealed. As per the recent data, the property prices are on a high in most of the cities of the country.
The rise in inflation was seen in January after almost one year. It was marked by the National Bureau of Statistics that out of 70 major cities, 68 cities had been affected by this hike. Only 2 cities were unaffected by this rise. Even in
House prices have fallen down 2.4% in the year 2010. This has been informed by Halifax this morning.
As per Halifax, this has been the biggest annual fall reported so far. There has been a severe slide in the housing market in last year and the trend is continuing for this year as well.
Though, it has been reported that there has been an increase of 0.8% in the lender report in the month of January in this year as compared to the preceding month but the situation in the real estate market is not so good.
One day after announcing a £1.6 billion deal to acquire Manchester's Trafford Centre, Capital Shopping Centres has admitted to a bid approach. Simon Property Group, which owns 5.6% of Capital, had reportedly asked for the postponement of the deal and associated share placing. The group is reportedly considering a cash offer for Capital.
The high court is said to have ruled the decision by the Community’s Secretary, Eric Pickles, to scrap regional housing targets, as unlawful. This decision had been made by the Secretary in pursuit of the Government's ‘big society’, initiative.
Housing developer Cala Homes is said to have claimed that the way Pickles was trying to seek to revoke regional planning strategies through discretionary powers.
The house price index determined by the Royal Institution of Chartered Surveyors (RICS) reveals a perceived drop of house prices. The survey results further show that potential house buyers are hesitant and the number of sellers who put property on the market decreased as well.
Jeremy Leaf, spokesperson of the RICS, states: "With both supply and demand falling, transaction activity is set to remain at relatively flat levels for the foreseeable future."
There were rumors that Savills will have second dip in activities in the housing market in many parts of the world but on the contrary, its shares have reached their highest levels with the rising profit of real estate consultancy.
Moreover, company’s performance is boosted by its attention in prime parts of the UK housing market and buoyant Hong Kong market.
The company has estimated the adjusted profit for 2010 would be more than £40m which was looks as real when its rival co. DTZ warned Savills for its increasing profits.
Rok Plc, a building and social housing repairs firm, announced on Monday that it plans to go into administration. Under this procedure, the company avoids liquidation, but deals with its insolvency by handing operations over to an interim Chief Executive, or Administrator, who acts on behalf of creditors. Trading in its shares has also been suspended.
PricewaterhouseCoopers had been working with the company's banks ahead of loan refinancing talks. It is now being drafted in as the Administrator.
Fears of a cooling UK housing market are mounting after the release of a Halifax report, which stated that Britain’s house prices have fallen 1.2% in the last 3 months.
Halifax, a mortgage lender, painted a muddled picture of the British housing market. While the average price of homes fell by a staggering 3.7% in September, October saw them rise by 1.8%, to £164,919.
South Carolina has seen an increasing number of foreclosures in the recent past. Courts across the state say that the higher rate of foreclosure-as much as one in four-is due to bank lawyers having incomplete paperwork.
An additional factor is the growing number of challenges to the authenticity of signatures on foreclosure documents. Judges report delaying cases where lawyers representing lenders were unaware that borrowers were still attempting to save their homes from foreclosure.
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