Sunday, April 20th, 2008
The London postcodes at greatest risk from the housing crisis was revealed today by the Evening Standard. Tens of thousands of home owners across the capital will be plunged into negative equity this year if property prices fall by 20%. People who have taken on huge mortgages compared with the value of their property will owe more than the building is worth. The worst hit would be buy-to-let investors who tried to cash in on the housing boom, according to analysis obtained by the Evening Standard. Below are the top 10 streets and London boroughs most likely to be affected. Find out more at thisismoney.co.uk.
Top 10 London streets most at risk:
Calderwood Street SE18
Erebus Drive SE28
Queenstown Road SW8
Woolwich Common SE18
St Saviours Estate SE1
Glashier Street SE8
Greenhaven Drive SE28
St John’s Estate N1
Great Dover Street SE1
Borough High Street SE1
Risk level by London boroughs:
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Tags: Buy-to-let, Credit crisis, Credit crunch, evening standard, house price falls, housing crisis, investors, London, Negative equity, thamesmead
Posted in Buy-to-let, Credit crisis, Credit crunch, Debt Management, Finance, Home loans, House prices, Landlord, Mortgages, Negative equity, Property Market, Property Prices | No Comments »
Monday, January 21st, 2008
House prices are dropping around £120 a day with experts warning that the year ahead looks bleak. Rightmove reported that prices have dropped by a total of nearly 5% since October, including a 0.8% decrease this month. Asking prices have fallen by up to 40% on some properties in recent months, according to website Property Snake, which gives details of asking prices which have been slashed. The price falls are hitting some parts of England more than others, with prices still rising in London and the North. The biggest loser is the East Midlands with prices dropping 6.1% in January alone. It is a cruel blow for anybody who recently stretched themselves to the limit to buy a home.
Tags: asking price falls, east midlands, house price falls, House prices, London
Posted in Property | 1 Comment »
Sunday, January 13th, 2008
Studies carried out show that most investors regard London and the South East as potential boom areas over the next 12 months. Improved transport links, wealth, foreign buyers, the introduction of Crossrail, the expansion of the east London railway and regeneration across the area will all prove beneficial in the longer-term. The imbalance of supply and demand will also encourage growth for 2008, however these two regions have historically been the top UK property performers, often regardless of the overall national house price trend.
Tags: crossrail, London, prediction, property boom, south east, supply and demand
Posted in Investments, Property | No Comments »
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