Property news

After an extended period of ‘talking down’ the property market it appears that the UK media are at last prepared to acknowledge some positive trends. The national market is demonstrating a bit of a bounce-back with prices rising by 9.4% since April as reported in the latest figures from Halifax. The more modest year on year growth of 1.1% is flattened significantly by the sharp declines of the first quarter of 2009. Even with this encouraging forward momentum it would be a mistake to assume that the current rate of growth will be sustained, the consensus of opinion is for a flat 2010. 

The underlying trends are far more interesting of course, and advice will vary depending upon the sum that you have to invest. At the mid and lower end of the market there are some excellent bargains to be snapped up, particularly if you are prepared to renovate, remodel and improve, this is likely to be the case for most of the year. The higher end of the market is very different, a continued undersupply of quality properties has been driving prices up strongly for some time - growth of 20% and upwards are being widely reported in this sector. There has also been growth in the number of homes being discreetly marketed for sale, you will not find these properties on Right Move or any other online search facility.

Currently the Cornish property market is behaving in line with national trends. A lack of quality homes on the open market is keeping values buoyant and local agents are reporting considerable increases in viewings and buyer registrations. Upwards of 5 potential buyers for each property means that you will have a distinct advantage if you are represented locally. An especially strong 2009 holiday season has driven a lot of interest in Cornish properties offering coastal views, village locations and ‘toffee box’ charm. In comparison to bank rates these properties offer an excellent return on investment and demand will inevitably continue to outstrip supply.

Please feel free to call us for up to date advice on how the market is reacting or click on the links below for recent articles that we've found interesting.

Finance Markets - 7 January 2010

"House prices gain 9.4% on April 2009 low"
In its latest survey of the UK housing market, Halifax reports that in December house prices increased for the sixth consecutive month. ...(read full article)

Times Online - 13 December 2009

"The market will balance out to give a flat picture for prices next year"
The Halifax confirmed last week that prices are ending the year on a strong note, with a rise of 1.4% last month. Prices are up by 8.5% from their low in April. ...(read full article)

BBC News - 24 November 2009

"Banks approve more mortgages for home buyers in October"
Figures from the British Bankers' Association (BBA) show they rose from 42,073 in September to 42,238 last month. The figures reflect the continued slow increase in activity in the market since the turn of the year ...(read full article)

BBC News - 6 August 2009

"House prices rising says Halifax"
The cost of the average house went up by 1.1% in July to £159,623. Prices in the three months to July were 0.8% higher than in the previous three months, the first increase in the underlying trend since October 2007....(read full article)

Times Online - 7 June 2009

"New figures confirm that the housing market is recovering and that the fall in house prices is beginning to level off"
One swallow doesn't make a summer, but how about two? After the Nationwide reported a 1.2% rise in house prices in May, the Halifax went one better, saying they rose by 2.6%. (....read full article)

Telegraph.co.uk - 15 April 2009

"Economists hail first green shoots in housing market"
The first "green shoots" of recovery in the housing market have been hailed by economists after figures showed an increase in the number of mortgages being taken out and property sales increased for the first time since 2007....(read full article)

Country Life - 6 March 2009

"Signs of revival in the second home market"
Now, suddenly, we're seeing a marked increase in the number of enquiries from cash-rich individuals who are taking the attitude that their money is earning next to nothing in the banks, so why not invest it in a property and enjoy holidays in this beautiful part of the world?....(read full article)

Times Online - 6 March 2009

"Is it time for investors to return to the property market?"
The nearness of deposit account returns to size zero is set to direct investors back into the property market...(read full article)

Guardian.co.uk - 23 February 2009

"Northern Rock has learned from its mistakes, says chancellor"
Alistair Darling today defended his decision to allow Northern Rock to resume offering 90% mortgages, insistin g the bank has learned from its mistakes....(read full article)

This is Cornwall.co.uk - 12 February 2009

'A crucial year for tourism'
The next year will be a "defining moment" for tourism with one in five people expected to holiday at home instead of going abroad, industry leaders said yesterday...(read full article)