Wednesday, July 16th, 2008
Further evidence that Scotland is bucking the UK trend of falling house prices can found in the recently published Royal Institution of Surveyors (RICs) report.
It states that 59% of its members reported that house prices in their area have remained static. In fact 4% of its members actually reported price increases.
This compares favourably with the English market where 78% of its members have reported falling prices in London, with percentage increasing in South East England and West Midlands to over 90%.
Further trust in the Scottish housing market can be found from the Nationwide Building Society figures which show Scotland as the only region out of 13 regions within the UK where average house prices rose in the 12 months to mid-June.
Tags: House Prices
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Tuesday, July 15th, 2008
The Council of Mortgage Lenders (CML) has come up with a new policy which they hope will rescue the housing market. They are currently pressurising the government to adopt the policy.
The CML have stated that the biggest problem of the stagnant housing market is the lack of mortgages which are being made available to the general public and in particular first time buyers.
The innovative plan drawn up by CML differs from previous policies suggested as it will be the investors themselves who will retain the credit risk and the government will not be required to guarantee the scheme.
The CML hoped that the government would agree to this new proposal as they were confident that if adopted it would allow the housing market to recover quickly.
Tags: housing market
Posted in Estate Agency | No Comments »
