Real Estate

UK house prices have fallen by 2.4% in 2010

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.

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Capital’s Bid for Trafford Centre Pushes FTSE 100 Up

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.

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Decision to Scrap Regional Housing Targets Termed as 'Unlawful'

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.

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UK Real Estate witnesses Downfall Trend

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."

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Savills estimates ‘second slip’ rather than a double dip

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.

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