Tag Archives: french

Spain set for a more robust property market in 2017 as prices rise

Demand from international buyers will remain fundamental necessity to help the Spanish property market continue its recovery and it remains to be seen if Brexit results in a fall in British interest. Overall experts point out that 2016 was a positive year for the real estate market with prices having bottomed out the year before […] The post Spain set for a more robust property market in 2017 as prices rise appeared first on PropertyWire . Continue reading

Posted on by tsiadmin | Posted in 2017, Aberdeen, ads, advice, affordable, AGA, age, agent, agents, ASA, average, average price, ban, boom, borrowing, Brexit, British, British buyers, build, building, bust, buy, Buy to Let, Buyers, buying, Canada, capital, change, changes, Cities, city, coast, commercial, Commercial Property, Company News, cost, costs, country, data, deal, Demand, developer, Developers, economy, Election, England, Equity, estate, Europe, family, fast track, features, figures, finance, Finance Update, fines, forecast, foreign buyers, foreign sales, France, fund, future, Germany, government, growth, help, home, home owners, homes, house, house prices, Housing, housing market, impact, increase, Index, India, interest, interest rate, interest rates, international, invest, Investment, investments, Isa, land, landlord, Landlords, Leeds Building Society, Legal, lender, lenders, Lending, Location, London, Luton, market, markets, Middle East, money, month, mortgage, mortgages, move, moving, national, new, new home, New Homes, News, North America, office, ONS, Outlook, overseas, Overseas Buyers, owner, owners, Planning, policy, price, priced, prices, prime, products, projects, propert, Property, property market, property prices, Property Sales, rates, Real Estate, record, recovery, referendum, reform, rent, rental, rents, research, Residential, rise, rises, sales, search, sell, sellin, selling, Shows, Spain, Stamp Duty, standard, start, states, steady, survey, Surveyors, tax, Taylor Scott International, Transactions, trend, TSI, U, Uk, UK< property market, uncertainty, United States, US, USE, value, villages, Wales | Tagged , , , , , , , , | Comments Off on Spain set for a more robust property market in 2017 as prices rise

UK only key country in EU likely to see property prices fall in next 18 months

House prices will rise in nearly all European markets this year on the back of historically low lending rates but in the UK prices will fall over the next 18 months due to the decision to leave the European Union, says a new analysis report. The German housing market is set to see the strongest growth due to high demand and tight supply of homes for sale but Italy is likely to see prices remain static due to a poor economic outlook, according to the report from S&P Global Ratings. ‘While uncertainties caused by the UK's June 23 referendum decision to leave the EU could dent eurozone growth and, by extension, the housing market recovery over the next few years, we don't expect that it will derail it,’ said Jean-Michel Six, chief economist for Europe, the Middle East, and Africa at S&P Global Ratings. The report forecasts that eurozone real GDP will expand 1.7% this year, and it expects that the European Central Bank's (ECB's) accommodative monetary stance, leading to historically low sovereign bond yields and mortgage interest rates, will spur improvements in Europe's housing markets. The UK is the only housing market for which house price declines are forecast as a result of the Brexit vote, although it points out that strong market gains in the first half of this year should keep full year house price rises at 5%, with the market only likely declining in 2017 by 2%. Although Ireland's economy has tight economic ties with the UK its housing market will continue its robust recovery, with prices growing by 6% this year, aided by the ongoing improvement in the labour market and a housing supply shortage. The forecast says that the Netherlands, also exposed to the UK economy, should also continue to see nominal prices rise by 5% this year on the back of economic improvements and favourable policy measures. Even the French housing market, which has been falling in recent years, is showing some resilience and looks set to grow by 2% in 2016 and in 2017 against a backdrop of low lending rates and modest economic growth. The strongest residential housing market gains this year will be in Germany, where robust economic fundamentals, a shortage of housing that is being further squeezed by the surge of migrants, and historically low lending rates should lead to prices inflating by 7% on last year. Spain and Belgium will each see house price rises of 4% this year. In Spain, economic growth, declining unemployment, and interest from foreign buyers should underpin a continued recovery of house prices the report says. In Belgium, forthcoming changes to fiscal rules and very favourable loan rates are still underpinning demand this year. While economic recovery and price incentives are also continuing to lift house prices in Portugal, a large stock of nonperforming domestic loans is… Continue reading

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Thousands of home owners with interest only mortgages have no pay off plan

Up to one in 10 home owners aged 55 and over across the UK are still paying interest only mortgages with some unsure of how they will pay off their debt. Research shows that 10% of the 1.4 million owners in this age group still paying a mortgage have an interest only deal, amounting to 143,500 households, according to research from Homewise. It also found that while the majority are confident of clearing the debt some 17%, or 24,300, admit they will be unable to clear the debt. The average amount owed by over 55s with interest only mortgages is around £91,000 with one in seven owing more than £150,000. Homewise, which offers the Home for Life Plan enabling over-60s to buy homes at discounts of up to 59% under a lifetime lease, is urging those with interest only issues to start planning ahead. The Council of Mortgage Lenders estimates that at end of 2015 there are around 1.7 million pure interest only mortgages outstanding with another 500,000 part repayment and part interest only loans. That represents a major success by mortgage lenders and the Financial Conduct Authority which has campaigned since 2012 to help borrowers focus on repaying loans and the number of outstanding interest-only loans has been cut from 3.2 million in three years. Mark Neal, managing director at Homewise, said that the mortgage industry has made massive strides in tackling the interest only issue and has helped borrowers to take action and it is good news from the research that the majority have plans in place to ensure they can pay off the capital but there are still substantial numbers who do not appear to know what they will do. Homewise’s research also shows 34% of over 55s plan to clear their interest only mortgage with cash from savings and investments while 10% aim to use pension cash to clear the debt. Another 11% are banking on an inheritance. Continue reading

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