Green Shoots for UK Property Market?

Green Shoots for UK Property Market?

Property Price in the UK Rise Last week Nationwide Building Society in the UK reported that house prices rose by 1.2% in May sparking rumours the end maybe in sight to the property market doom and gloom.

Despite warnings by Nationwide that any recovery from the current depression that we are in would be a gradual slow change (if any!), a UK house price index report released … late last week further contributed to the idea that the property market in the UK is improving.

The house index report which is based on the volume and activity status of ‘For Sale’ and ‘Sold’ boards across the UK showed that Sold signs rose to their 2nd highest level since last year and that there was an increase of 2.1% in ‘For Sale’ signs being erected.

Halifax then added to the hype by releasing their property report that showed an increase of 2.6% in property prices.

There are 3 comments for this article
  1. Maire Nic Ardail at 2:09 am

    I agree with comment no two, posted on the 8/7/2009. This is also how I see house prices going, down, down, down. I just wished that the poor innocent first time buyers had the sense to wait for at least five to ten years. I also think that auctioneers should be regulated as I believe them to be equally as responsible for this property crises as the banks because of their careless, carried away overvaluing of property.

  2. pat Connolly at 7:50 pm

    irish property will fall in price for years to come. Why?
    1 wages are falling in public and private sectors. Your bank will give you a loan depending on your wage therefore since your wage is falling your loan amount will fall also.

    2 Banks have become very selective in whom they give a loan to. So in the future fewer loans will be given out therefore prices of houses will fall.

    3 A glut of repossessed houses will enter the market over the next few years at knock down prices further depressing the market.

    4 The government is likely to introduce a property tax on all houses in the next budget. This will drive out a lot of the buy to let investors.
    Therefore property will fall.

    5 As a result of the credit crunch businesses are not being given loans to run their businesses threfore they are closing and jobs are being lost. Also multinationals are leaving this country in their droves because it is too costly to employ labour here. so unemployment is predicted to go to 500 000 maybe 600 000, Brian Cowen has said this himself. Property prices will go back to what they were before the boom.

  3. Albanian Property at 1:24 pm

    I think that it is still early to assume such things, however different people will view this differently. Some will take more risks and enter the market now.

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