HOUSE PRICES MAY FALL AFTER BREXIT
- 24 Jun
"A short-term fall in house prices and sales could follow the UK's decision to leave the EU, although Sterling's slump could lead to a "Brexit Bubble" in the most expensive pockets of the market." according to property experts, reports by the Guardian
Property experts also made the following findings:
- The Royal Institution of Chartered Surveyors (RICS) had previously said that "uncertainty over the outcome had driven the biggest fall in the number of people trying to buy a property since the financial crisis"
- The Treasury had forecast a fall in house prices of up to 18%
- The National Association of Estate Agents (NAEA) also predicted that Brexit would cut levels of immigration and depress future price rises, leaving the average UK house worth £2,300 less in 2018. It predicted a £7,500 fall in London.
Richard Donnell, insight director at property consultancy, Hometrack said:
"As a result of the vote, the near-term prospects for the UK housing market looked very uncertain,
"The immediate impact is likely to be a fall in housing turnover and a rapid deceleration in house price growth as buyers adopt a wait and see the short-term impact on financial markets and the economy at large.
"...The decision to leave the EU will be most keenly felt in the London housing market, which is fully valued and already facing headwinds. House price growth is already weak and running in low single digits in Central London areas, and modest price falls now appear likely in higher value markets as prices adjust in the face of lower sales activity."
David Brown, the head of agency, Marsh and Parsons also said regardless of the referendum result, there was still plenty of pent-up demand in the UK housing market "and a Leave vote doesn't change that overnight.
"When you think back to before the financial crisis and the volume of transactions we were witnessing on an annual basis, there's clearly scope for further improvement. The decision to leave doesn't alter the fact that plenty of people have to and still want to move."
What do you think? Please tweet comments @suppsolutions
For more details, visit the Guardian
- 02 Nov
THE ONS PLANS TO CHANGE THEIR DECISION TO MAKE HOUSING ASSOCIATIONS PUBLIC BODIES
According to reports by 24 Housing, the ONS said the following:Gavin Smart, Chartered Institute of Housing's deputy chief executive also said:"Although we have been expecting this decision for some...
- 30 Aug
RECENT ANALYSIS FINDS THAT THE HELP TO BUY SCHEME HAS ADDED TO THE INFLATION OF HOUSE PRICES
The analysis of the Help to Buy Scheme revealed the following:The chief executive of Paradigm Housing Group, Matthew Bailes, said:" ... clearly, it worked well for developers, and for providers, it...
- 22 Aug
A NORTH WALES COUNCIL REVEALED THEIR WAITING LIST FOR NEW HOMES HAS REACHED BREAKING POINT
The north Wales Council revealed their waiting list for new homes has reached "breaking point".According to Clare Budden, Flintshire Council's community enterprise chief officer said:"There are...
- 17 Aug
HOMELESSNESS POLICY IS UNDER REVIEW IN A NORTHAMPTONSHIRE COUNCIL
Kettering Borough Council has amended its letters to homeless residents to let them know of their right to request a temporary accommodation review.According to an ombudsman, Michael King:"People in...
- 15 Aug
FINANCIAL CONSTRAINTS HAVE CAUSED THE CLOSURE OF MANY CHILDREN AND YOUTH CENTRES
Local Government Association (LGA) made the following findings:Chair of the LGA's children and young people board, Richard Watts, said: "The reality is that services for the care and protection of...
- 11 Aug
RESIDENTS OF BUILDINGS IN LEDBURY ESTATE, SOUTHWARK, SOUTH LONDON WILL BE MOVED OUT TEMPORARILY
The buildings in Ledbury Estate in Southwark have been constructed in a similar way to Ronan Point, a tower block in Newham which collapsed in 1968 as a result of a gas explosion, killing three. An...
- 10 Aug
THERE IS A DECLINE IN THE HOUSING MARKET IN LONDON AND OTHER PARTS OF THE SOUTH EAST OF ENGLAND
The Royal Institution of Chartered Surveyors (Rics) made the following findings:Chief Economist at Rics, Simon Rubinsohn:"Sales activity in the housing market has been slipping in the recent month...
- 07 Aug
REPORT FINDS THAT PEOPLE ARE INTENSELY SUFFERING FROM LACK OF AFFORDABLE HOMES IN SCOTLAND
According to the report by "Shelter":Shelter's deputy director, Alison Watson, said:"This report shows the disproportionate impact of Scotland's housing crisis on young people and private renters who...
- 02 Aug
NEW REPORT BY THE PUBLIC ACCOUNT COMMITTEE IN WALES COMMENDS HOUSING ASSOCIATIONS
The report which was put together after nine months of inquiries stated the following:Nick Ramsey, Chair of the Public Accounts Committee, said:"Generally, we found governance and regulation within...
- 31 Jul
LONDON COUNCIL URGES THE GOVERNMENT TO MAKE MEASURES TO END LETTING FEES FOR PRIVATE RENTERS
The London council say urgent action is needed because the government has not provided "a clear timescale to introduce its own measure", Letting Agent Today, reports.Last year, the government had...
Support Solutions 5th National Housing Support & Social Care Conference 2014 Good organisation from beginning to end. Excellent keynote speaker. Relevant and important topics for discussion which were to everyone's advantage within the supported housing sector. B.H - Stevenage Haven