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Landmark’s Blog
UK property markets still depressed
Published on 22nd April, 2009 at 09:40 by Eric Mowinski.
The Council of Mortgage Lenders suggest that 900,000 home owners currently have some degree of negative equity
UK house prices have been reducing since the middle of 2008 and the recent survey by James Tatch (Senior Statistician at the Council of Mortgage Lenders) indicates that approximately 900,000 home owners are in negative equity.
Some reports show we may be nearing the bottom in the housing market and there may well be some recovery due to the financial stimulus being pumped into the economy. However, I still believe house prices in the UK have further to fall and you only need to look at the price of houses against a multiple of income to realise that further reductions would not be out of the question.
For those purchasing investment properties in the UK residential market, the next couple of years may bring better opportunities.
Posted under the following tags: property, councilofmortgagelenders, investment.
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Landmark Financial Planning is authorised and regulated by the Financial Services Authority. This report is based on information and opinion which are subject to change and for general information only. Do not act on this information without advice from your financial adviser. Accordingly neither Landmark Financial Planning Ltd, partner or employee will be liable in respect of any loss occasioned by any person as a result of such action or inaction.