House prices are determined by a number of different factors. Firstly there are ‘economic fundamentals’ these are factors such as economic growth and the level of average incomes. However, in addition to the basic economic reasons, house prices are often quite volatile because other factors influence the level of house prices. In the UK and [...]
How Much Will House prices fall?
Recently the drop in UK house prices accelerated. Surveyors reported the most pessimistic conditions since 1978. House prices falling at fastest rate since 1978 (link) The house price falls are worst in areas such as Northern Ireland, the South West and East Anglia. Areas least affected include London, Yorkshire, and Scotland. Lower prices are being [...]
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Predictions of House Price Falls
The last few months have increased the likelyhood of falling house prices in the UK. These factors could contribute to housing price fall Increase in Mortgage Rates. Many banks are increasing their interbank lending rate; this is being passed on to consumers. Therefore, there is an increasing gap between the Bank of England’s base rate [...]
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North – South House Price Gap narrows
The North of England used to be a good place for first time buyers to get on the property ladder. However, in recent years the price of houses in the north has increased significantly, reducing the gap between north and south. The result is that many areas in the north are becoming as expensive as [...]
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US House Price Slump
The decline of the US housing market continued with house prices falling 10% in the last month. The house price falls are due to excess supply, falling consumer confidence and a correction to the inflated house prices. There are worrying signs that US house prices have further to fall because the stock of unsold houses [...]
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Avoiding the Stamp Duty Thresholds
The UK stamp duty thresholds mean that buying a slightly more expensive house can lead to a big jump in the amount of stamp duty that you have to pay. For example, if you buy a house for £249,000 the stamp duty is £2,490 However, if you buy a house for £250,000 the stamp duty [...]
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Stamp Duty Rates UK
Homeowners pay 0% stamp duty on houses upto the value of £125,000 1% on homes priced between £125,000 and £250,000 3% for homes between £250,000 and £500,000 4% for homes valued at more than £500,000 However, the average first time buyer is still paying a lot more stamp duty because of rising house prices. It [...]
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Top 10 Tips for Avoiding Home Repossession
In the US and UK, the number of home repossessions has been rising as people with large mortgages struggle to make the necessary payments. These are 10 tips to help avoid seeing your home repossessed. The important thing is to adopt a useful strategy as soon as possible. Don’t wait for things to get out [...]
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Why are House Prices in the UK so expensive
House prices in the UK now average at over £200,000. Yet, 15 years ago, they averaged less than £70,000. Some of the reasons for the large increase in house prices include: Increase in Population. Boosted by immigration, the UK population now exceeds 60 million. Increase in Households. There are more single people living alone now. [...]
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Easiest way to save money for a House
It is quite difficult to save enough money for house. Expensive house prices and large student loans mean many people in their early 20s struggle to get enough money for their first deposit. These are a few tips to make it easier to save money for a house. Live With Relatives This will make the [...]
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