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Real estate industry

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Budget threat to market optimism

Article Abstract:

House prices are increasing at almost three and a half times the rate of retail price inflation, and housebuyers are seeing real returns on their investment. Halifax has revised its year end house price inflation forecast to 7% from 5%, although there are fears of a return to the hyper-inflation of the late 1980s. Mark Hemingway of Halifax, believes that estate agents and lenders should ensure that the market does not get out of control, and see that property is sensibly priced.

Statistics, House buying, Home buying

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Investors among takers for Birmingham scheme

Article Abstract:

Crosby Homes had expected to sell around 45 apartments a year at its Symphony Court development in Brindleyplace, Birmingham, England. However, it has already sold 60 since Sep 1995, of which 10 have been purchased by investors. A two-bedroom, two-bathroom apartment offers gross yield of around 12%, with income on a 99,950 pounds sterling apartment of 1,000 pounds sterling a month. The development will have 143 apartments.

Investments, Buildings and facilities, Birmingham, England

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Lenders must go with the flow

Article Abstract:

Although house sales in 1994 improved by 5-10% on 1993, average house prices ended the year about where they started. Also negative equity is a real problem. Estate agents believe the problem is lack of quality property at realistic prices, and spiralling land prices caused by competition for sites by housebuilders.

Market share

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