Not A Member Yet? See All The Features Of The Forum By Clicking Here To Register For FREE! Or Members Login Below:

Cyprus Eastern Forum Index Cyprus Eastern Forum Index
Offering Free Help, Advice, Tips & Support for those buying or living in:
Paralimni - Protaras - Pernera - Kapparis - Agia Napa - Larnaca - Oroklini - Pervolia - Kiti - Xylofagou
Vrysoulles - Frenaros - Dherynia - Sotira - Agia Thekla - Liopetri - Ormidia & surrounding areas...

Main Homepage Cyprus Eastern Forum Index Register Directory Memberlist Search

  Ads By Forum Sponsors

Cyprus Eastern Forum Index » Coffee Shop Chat » UK Housing Market
Post new topic  Reply to topic   View previous topic : View next topic 
UK Housing Market 
Post: #1   PostPosted: Tue Jul 01, 2008 6:54 am Reply with quote
Membership Closed
Joined: 14 Mar 2008
Posts: 1425
Pictures: 0
Location: pyla

Possibly good news...........the rate at which falling house prices in the UK is slowing.
During the month of May the fall was a record 2.5%, whereas in June it was 1%.
This could be an indication that it's "bottoming out" and that an upturn may be closer than was anticipated.
House prices are still a little over 6% lower than they were 12 months ago but the indications are favourable.
First time buyers make up one third of current buyers but at the moment there are less people selling to buy in another area.
It's early days yet and too soon to predict that the market in Cyprus will improve so far as UK buyers go but there are positive indications, the next few months will be more telling.
Fingers crossed.
Personal Photo Album View user's profile Cyprus News,Weather & Travel

Hide These Ads? Register for Free or Login

Post: #2   PostPosted: Tue Jul 01, 2008 8:49 am Reply with quote
Andrew Brooks
Joined: 15 Nov 2007
Posts: 2736
Pictures: 0
Location: Larnaca

UK house prices are still higher than they were two years ago and are unrealistically high anyway.
First time buyers haven't really been able to afford to get on the ladder for years but lenders have been irresponsible and taken risks, hence the worlwide credit crunch.
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
Post: #3   PostPosted: Tue Jul 01, 2008 9:02 am Reply with quote
Joined: 02 Feb 2006
Posts: 6892
Pictures: 9

Hi Brian,

I kind of get the impression that it's not just the price of houses that are affecting the housing market, and that it's more the mortgage lenders.

The lenders appear to be over zealously enforcing very strict lending criteria, as if to make the point that it's the consumers fault that the banks didn't do it earlier. Mortgage arrangement fee's of 5k for loans up to 200k is a bit severe And when borrowers are then being allowed to add it to the amount borrowed, it kind of makes a mockery of the strict lending criteria being enforced.

I am a firm believer that all areas of the country should be utilised to their full potential, instead of everything being focused on the south and south east. Every property program pretty much only features these areas as if the rest of the country doesn't exist. If Business was encouraged to 'Spread Out' to differing regions, then many of the housing problems would be resolved.

It was only several months ago that Governmant figures said that we needed Millions more houses by 2020, and now all of a sudden there are 15 houses per property buyer...!

But back to your original point, lets just hope that things are on the mend and the price of oil drops to below $70 a barrel...
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
Post: #4   PostPosted: Tue Jul 01, 2008 1:51 pm Reply with quote
Forum Moderator
Forum Moderator
Joined: 16 Jul 2005
Posts: 4589
Pictures: 8
Location: Ayia Thekla

Possibly bad news.

We saw our Estate Agent again today for a re-valuation.
He tells us that our house is now worth 30,000 less than it was 2 years ago and we should wait 12 months before marketing it any further.

Kind regards
Personal Photo Album View user's profile Send e-mail Cyprus News,Weather & Travel
UK Housing Market 
  Cyprus Eastern Forum Index » Coffee Shop Chat
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum

All times are GMT  
Page 1 of 1  

 Post new topic  Reply to topic   
Search Tags: #Housing #Market

 Facebook Page    Facebook Group    Our Channel    Cyprus eBay Search    Shopping To Cyprus    Contact Admin   SmartFeed RSS Feed

Cyprus forum covering Kapparis, Protaras, Pernera, Agia Napa, Agia Thekla, Paralimni, Larnaca, Oroklini, Pervolia & surrounding areas
Please note that the views expressed on this forum are those of the author and may not reflect the views of the management.
* Problems Logging In? Click To Contact Us | Powered by phpBB © phpBB Group Design Style: VTrushkin | View Lo-Fi Version