US property market boost for landlords
US property market boost for landlords
Average house prices in America have fallen by 46% over the last three years, according to research.
Meanwhile, a 60% surge in rental rates has ensured that the country is perfectly geared for buy-to-let investors to make a great return.
American real estate firm Foreclosure Deals revealed the information in a new infographic, which highlights Nebraska as a good place for property investors.
Houses in the area can be bought for less than 7,000, while rent charges increased from an average of 2 three years ago to ,800 this year.
In New York properties remain expensive to buy but with median rents rising from 3 three years ago to ,400 this year, those who made a property investment in the area before the financial crisis could be feeling the benefits now.
Foreclosure Deals predicts that the gap between low prices and increasing rents will continue to widen by another 4.5% at the end of the year
December 20, 2011 No Comments
November boost for first-time buyers
November boost for first-time buyers
New figures have shown that first-time buyer sales rose slightly in November in what is good news for the UK property market.
The National Association of Estate Agents (NAEA) said the percentage of sales to people getting on the property ladder for the first time rose 3% month-on-month.
The 16% of first-time buyers recorded in October was the lowest for almost three years, and down on the previous month’s 22%.
Despite the rise, the NAEA suggested that many people are unable to get on to the property market because they struggle to raise the required deposit.
Overall figures showed that the number of general sales fell marginally during the month – going down from eight to six per branch.
The overall average was also down by one on figures from last November.
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December 18, 2011 No Comments
CBI calls for UK property boost
CBI calls for UK property boost
The Government should give a boost to the UK property market, according to the CBI, which has released a package of proposals to enhance the economy.
The UK business group feels this could be achieved by underwriting mortgage indemnity guarantees as this would reduce the risk of higher loan-to-value mortgages to buyers and lenders.
The CBI added that this would rejuvenate the market for first-time buyers and create a positive outlook for the whole housing sector.
The drop in consumer and business confidence due to the weak outlook for exports and investments along with the uncertain eurozone situation has led to the CBI making a lower forecast for the UK economy.
GDP growth is now predicted to be 0.9% in 2011 and 1.2% in 2012, down from 1.3% and 2.2% respectively.
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November 9, 2011 No Comments
Cash boost for home ownership scheme
Cash boost for home ownership scheme
The Northern Ireland property market could be boosted by the news that the Government is to raise its investment in a co-ownership scheme by 10 million to help first-time buyers.
With property investment dwindling in recent months, Finance Minister Sammy Wilson revealed the details of the Government’s plan and also assured assembly members that banks would try to provide mortgages to suit the scheme.
The four-year scheme, which previously had an annual war-chest of 15 million, aims to help around 2,400 people purchase their own homes.
The scheme was one of many benefactors of 70 million re-channelled during the October Monitoring Round, where unspent money is reallocated to Government departments in need of additional financial support.
Mr Wilson said: “The increase in funding announced today is evidence of the executive’s commitment to help people take their first steps on the property ladder and stimulate some much needed activity in the local property market.”
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October 26, 2011 No Comments
Childcare boost for low-income families
An additional 80,000 parents on low incomes will be able to access extra help meeting childcare costs from 2013, the government announced today.
The £300 million program will see the rules limiting childcare assistance to parents working at least 16 hours a week scrapped. Eligible working families will be able to claim up to £175 a week for one child and £300 for two or more. The payments will be made as part of the universal credit system which is due to replace tax credits and other benefits in 2013.
Under the current system, families can claim tax credits to cover up to 70% of their weekly childcare costs if they work more than 16 hours a week.
Ministers said the move will make it easier for thousands of parents to make the transition into paid employment and find hours to suit their family life. Labour said the extra money would have little effect after cuts made to childcare benefits in last year’s comprehensive spending review.
Deputy Prime Minister Nick Clegg said, “Childcare support is vitally important. It’s a lifeline for… Continue To Read This Post..
October 7, 2011 No Comments
Brownfield land ‘to boost housing’
Brownfield land ‘to boost housing’
In order to address demand for UK property, the Government is set to release thousands of acres of brownfield land, according to Prime Minister David Cameron.
The release of the publicly owned land could lead to the construction of up to 100,000 new homes.
Rather than having to secure finance in advance, developers joining the scheme will be able to pay the Government back for the land once they have sold their properties.
Around 200,000 jobs could be supported with the help of the plans, Government aides have indicated.
Speaking to The Sunday Times, Mr Cameron said: “The Government owns huge amounts of land, mostly brownfield sites, previously developed, either out of use or being run down in some way.”
He added: “There’s an enormous opportunity to build homes on those sites.”
The annual Conservative party conference kicked off yesterday in Manchester.
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October 3, 2011 No Comments
Better mortgage deals and more realistic pricing boost housing demand
Estate agents reported a 10.6% rise in demand for housing in June as better mortgage deals and more realistic pricing from sellers provided some much needed stimulus to the market.
The property intelligence group Hometrack said the increase in activity was mainly down to a subdued May when potential buyers were distracted by the extended run of bank holidays and the royal wedding. It warned demand is unlikely to rise significantly over the summer and that prices will continue to fall.
The property expert’s latest monthly market survey revealed that prices fell 0.1% in June and are 3.9% down year-on-year. Prices have fallen in 11 out of the last 12 months, according to Hometrack data.
Richard Donnell, director of research at Hometrack, said: “The first six months of 2011 have seen the housing market holding up better than many had expected. Low transaction volumes, low mortgage rates and forbearance by lenders limiting the number of forced sales have all played their part.
“While average prices have slipped back by 1%, sales volumes have increased off the back of higher demand… Continue To Read This Post..
June 27, 2011 No Comments