openPR Logo
Press release

Property market snapshot

04-11-2011 03:49 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Propacea Limited

As winter turns to spring and people’s minds turn to the likely upshot of the economic turmoil in Britain and its impact on the property market (at least mine does), we present a snapshot of the sentiment among property experts and commentators:


Simon Rubinsohn, chief economist at Royal Institution of Chartered Surveyors (RICS):

“I think that confidence has improved since the end of the year but it remains fragile and has a strong regional dimension. Confidence in London and the South East is more upbeat than in many other parts of the country, in particular parts of the Midlands and the North.

“Our headline forecast remains unchanged with prices projected to be 2 per cent lower in the last quarter of 2011 compared with the same period in 2010. However, there will be significant regional variation with London the only area to be slightly up.”


Dr. Howard Archer, chief European & UK economist at IHS Global Insight:

“Interest rates could well rise in the second quarter, although we expect the first hike to come in August. However, interest rates are likely to rise only gradually due to the need to offset the tight fiscal squeeze.”


Martin Ellis, head of housing economics at Halifax:

“Overall, we expect a modest 2pc decrease in house prices in 2011. Uncertainty over the economic outlook is likely to weigh down on housing demand this year.”


Melanie Bien, director of independent mortgage broker Private Finance:

“Interest rates will start rising in the next few months but I believe this will now happen at the end of the summer – September, rather than May. The economy is simply too fragile and the impact would be so devastating for many home owners already struggling to make ends meet that I think a move will be delayed for as long as possible.”


David Hollingworth, spokesman at London & Country Mortgages:

“Home owners are really quite confident about the prospects for house prices, which comes as a surprise in a market that continues to face some significant challenges.”


Original comment can be found at The House Prices Advisory

This site is written and contributed to by property professionals from inside the UK House Building Industry.
That's right, we're developers - hated by all for our unwavering pursuit of profit and demonic need to concrete over the UK's greenbelt.
You may well wonder why we (as opposed to estate agents) are best equipped to advise you on the subject of selling property?
Surely our expertise lies in knowing how to buy land, put together development proposals, navigate the planning process and build identikit housing estates?
This is all true but it misses the one key point that our core goal (like yours) is to sell property for the highest possible price!
Just like you we also have to deal with flaky buyers, shoddy estate agents, slow solicitors and inept mortgage brokers.
The difference is, we do it on a daily basis and as such have become masters of managing the process.

Ashton House, Cornwall Avenue, London, N3 1LF

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Property market snapshot here

News-ID: 170381 • Views: 1519

More Releases from Propacea Limited

Why House Price Stagnation Is A Good Thing
News from the Land Registry that average property prices fell by 1.1 per cent in March to £160,996, with other surveys painting a similar picture of tiny falls, or tiny rises, has caused commentators and property experts to bemoan the ‘stagnation’ of the market. Certainly from one point of view, stagnation is a bad sign, since the livelihoods of estate agents, surveyors, mortgage advisors and many others depends on a
Mortgage Demand Falls Off A Cliff
The government’s spending review, along with sliding house prices, has dampened demand for mortgages to its lowest level since the third quarter of 2008 – which was the lowest rating on record. The Bank of England’s analysis of credit conditions for households and businesses placed demand for home loans at -41.5 on a scale of -100 to +100. But while demand is down, the banks insist that they
UK Rental Squeeze Continues
The imbalance between high demand for private rented accommodation and the limited supply will continue to distort the market and produce unforseen quirks. According to the Association of Residential Lettings Agents (ARLA), there will be various new factors emerging: home owners who cannot sell will turn to renting their properties, knowing that rates are currently high. But this will go nowhere near saoking up the rising demand and will
What Are The Buy-To-Let Prospects For 2011?
According to the latest figures from the Young Group, based on a survey of the group’s 500 property investors and landlords, sentiment in the private rented sector remains buoyant and there is a positive outlook for 2011. In particular, the London market is expected to outperform the UK market in the coming year, with 89 per cent of respondents believing that London residential property prices will be at least at

All 5 Releases


More Releases for London

XTM LIVE London starts soon
XTM International, the company behind XTM Cloud — the award-winning translation management software, is hosting XTM LIVE on May 20-21 in London. Over the two days, all attendees will have a unique opportunity to learn and discuss about the latest developments in translation and localization as well as connect with industry peers. This year, the event features 14 power talks, 2 open panel discussions, 2 tracks of training, 4 break-out sessions
Smilepod :– Making London Smile!
People often say it is hard to find a dentist you like in London. You want a convenient London Dentist, which provides friendly and professional dental care in an inviting and caring environment. This is the ethos behind Smilepod. All of their 6 centrally located dental practices are within 5 minutes of a tube station. They understand that Londoners are busy and don’t want to miss work to see the
SEO Agency London
FirstRank is a leading digital marketing agency based in London, offers Website Development, Search Engine Optimization and Social media marketing service. we provide seamless growth for your business with our digital marketing services and solutions. Our highly competent teams are constantly adding the smile to the faces of our clients. Digital marketing is an investment and our digital marketing Agency focus on returns. In 2012, we started as a SEO company
London 2012
Off to the Paralympics with 15,000 spare parts Ottobock, the medical equipment company, is preparing for a large-scale operation at the Paralympic Games in London (29 Aug. to 9 Sept. 2012). Some 4,200 athletes are expected at the second largest sports event in the world. In order to ensure technical service for them, Ottobock is sending 78 orthopaedic technicians from 20 countries. The first vehicles are already transporting 9
Innovative Technology at Kiosk London
Innovative Technology Ltd (ITL) has taken two stands [24-25] at the first Kiosk London show, which will be held at the Barbican, London on the 19th & 20th October 2011. ITL will bring their Innovative Payout Solutions to Kiosk London, showing the industry the SMART Way to payout! Highlights on the stand will be: The SMART Hopper - A true multi-coin hopper operating at speeds of up to 12 coins per second the
London House Prices Fall
Property agents in London have reported a record gap between asking prices and actual sales prices. According to analysis by agents Douglas & Gordon, which compared the asking prices on the Rightmove website with those logged on the Land Registry, there is now an average £79,000 gap between the two figures. This compares with a gap of £6,574 in 2003. Buyers now routinely offer £50,000 or more beneath