| UK
House Prices Situation: Continued growth in
most areas of the UK
UK
House Prices Forecast: Conflicting forecasts
for the next 1-2 years
Top
Economist Forecasts Sharp Fall in Prices
David
Miles, a former adviser to Gordon Brown and the Chief
UK Economist for investment bank Morgan Stanley has
published a report suggesting that there will be a sharp
fall in prices at some point in the
next 1-2 years.
He
believes that more than half of house prices
inflation in recent years has been driven by speculation
that prices will continue to rise at rates significantly
above inflation – an unsound long-term proposition
- but said it was impossible to predict exactly when
such a fall would occur.
Equity
Release – Majority Funds Home Improvement
Equity
release mortgages and loans have become increasingly
popular in recent years, but there has been some concern
that relatively few people were using their equity to
fund home improvements, and were spending it on luxuries
such as cars and holidays instead.
A
new government survey has found that 56% of borrowers
who released equity did so to fund home improvements
– hopefully increasing the value of their home
and offsetting their increased debt.
Locations
That Pay – Why Some Homes Carry a Premium
Wherever
you are in the country, it seems buyers will pay extra
to live in certain locations. Good schools, mainline
railway stations, motorways and countryside or park
views all play a part in adding value to nearby properties.
A
survey by Haart estate agents has revealed some surprising
differences in prices between homes
with desirable extras and average prices:
·
Mainline railway or underground station - £20,000
· Well-ranked state school - £18,000
· Proximity to motorway - £15,000
· Countryside or park location - £15,000
Buyers
looking to cash in on the benefits of a chosen location
should be careful, however. School catchment areas can
change, leaving you in a different, less-desirable catchment
area, and the introduction of new transport links too
close to a property can also damage its value.
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