Posts Tagged ‘property’
Monday, May 12th, 2008
For those hoping to buy a house in Edinburgh, new statistics from Halifax may be welcome news.
According to the Halifax Estate Agents Million Pound Property Report, Edinburgh witnessed the largest number of million pound property sales in the northern regions of the UK in 2007.
The bank states that 148 such properties were sold in that time, which was 86 per cent higher than Macclesfield which had the second highest number. Over all, million pound property sales increased by 36 per cent in the UK.
However, as Gordon Edwards, managing director at Halifax Estate Agents, explains, there was even more success south of the border.
“Although there has been a marked increase in the number of million pound property sales over the past decade, a small number of local authority areas in London continue to account for the significant majority of £1 million sales,” he said.
Over the past year, the biggest house price increases have been experienced in Scotland, which may be of interest to those looking to buy a house in Scotland, with an increase of 5.3 per cent, the Halifax House Price Index recently revealed.
Tags: Edinburgh, property
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Monday, May 12th, 2008
The Scottish economy is being buoyed by the housing market, it has been claimed.
According to a forecast released today (May 12th) by the Bank of Scotland, the economy will see an upturn in growth next year, the Scotsman reports.
Factors contributing to Scotland’s economic growth include consumer confidence, good car sales and a healthy housing market, the news source states.
Martin Ellis, chief economist at the Bank of Scotland, explained that the historically low interest rates “continue to fuel strong demand for new housing”.
This was indicated recently in the Bank of Scotland House Price Index, which showed that the average Scottish property price had increased by 20 per cent to £82,000 during the past six months, while Edinburgh was found to be the most expensive place to buy a house in Scotland.
Furthermore, Edinburgh was found to have sold the most million pound properties in the northern regions of the UK in a recent Halifax study.
Tags: economy, property, Scotland
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Tuesday, May 6th, 2008
Scottish first-time buyers may be left in a negative equity position if they try and rush onto the housing ladder, if one organisation is to be believed.
Iammoving.com has claimed that first-time buyers should adopt a ‘wait and see’ approach to house buying, in that they should gauge the developments in the market before they make a purchase.
Peter Beckett, business development director of the company, said: “If you rush into something now, you could find yourself in a negative equity position, having borrowed in order to be able to afford to secure the property in the first place.”
Mr Beckett suggested taking out a loan within the family, using savings or inheritance as advisable ways of funding a first property. In addition, he suggested making the commitment in conjunction with someone else in order to ease the burden.
Meanwhile, research from Iammoving.com has revealed that one in three first-time buyers are gambling on their house purchases by taking out unsecured loans and using credit cards for deposits.
Tags: housing market, property, Scotland
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